Mayan Lake Realty - Real Estate Lake Atitlan Guatemala

Payments & Cancellation Policy

DEPOSITS FOR RENTAL AND SALES PAYMENTS

logo tagline 1 LRWe would like to introduce you to our safe, secure, and convenient way to pay for your vacation, short- and long-term rentals, or for sales payments for Mayan Lake Realty: DepositGuard.
DepositGuard is a service specifically designed to meet the needs of the vacation home rental market, so that travellers worry less and book vacation homes more often. They collect and safeguard payments between renter and owner, increasing transparency, accountability, and confidence.
Please look at their website (www.depositguard.com) for more information, and to read about how they are helping us to provide you, our clients, with more assurance and security. Plus, you can pay by credit/debit card or electronic check - electronic check charges less than credit card payments.

It is an easy to use system which is the following:

  1. Mayan Lake Realty will initiate a formal agreement, which will be emailed to you via Deposit Guard. 
  2. You will need to register with DepositGuard in order to complete (sign) the agreement. The initial Deposit Guard email is in the form of an invitation.
  3. You then 'sign' by clicking the agreement and send the requested money via your preferred method (credit/debit card or electronic check).
  4. You will receive an email confirming receipt of money, and then another a few days later once the money has been cleared.
  5. Once the money is cleared, Mayan Lake Realty will send email confirmation along with an invoice indicating amount paid and amount owed and the dates it will be owed.
  6. Depending on whether the owner of the property you are renting lives in the US, rent money paid up front will be sent to the owner's US bank account or wired down to Guatemala at a date before or just after your arrival. In order to do this you will be sent a further email from DepositGuard asking for the money to be released.

Payment paid by DepositGuard are charged a maximum charge for handingl transactions of 2.99% (compared to PayPal's, which is nearer to 5%!).

DEPOSITS AND RENTAL PAYMENTS

Security Deposits (Deposits to cover damage, breakages and non-fulfilment of contracts)

A security/breakage deposit is requested for every rental period whether a vacation rental or long-term rental of more than 3 months. Deposit amounts vary depending on rental period and the individual requirements of the owner. Each one is a fully-refundable breakage/security deposit covering damage, breakage and payment of rent if the full notice period is not adhered to (see Cancellation Policies below). The sum of the deposit varies from property to propert,y but is a minimum of $300.

Your deposit will be paid for through DepositGuard (unless the property owner stipulates otherwise) and will stay with DepositGuard for the duration of your stay. Once you have checked out and everything in the property has been checked and the OK given, then this deposit will be refunded to you in FULL. However, if there are breakages or damages to be paid, you will be notified and the cost will be deducted from the deposit. If there is money remaining after deduction it will be sent to you. Sometimes in the case of monthly rentals, the refund may have to wait until the electriity bill has come through where rentals stipulate a sealant on the amount of electricity per month. This is due to electricity being as or more expensive than in the US for example.
 
This refund can take up to 2 WEEKS to be credited back on to your credit card or bank acount.
 
NEW ADMINISTRATION COST: Each on-line payment will incure an administration cost of $30. This is to cover the cost of transferring the money between the US and Guatemala
 
Rental Payments - Part or Full Payment of Rent (this will be used for non-fulfilment of contracts as well). Generally we ask for a 50% payment of the rental amount along with the fully-refundable security deposit in order to secure the booking. The balance is requested one month before check in, to also be paid on line. If there is less than a month to check in then the full amount will need to be paid. OR, guests can make the full payment.
 
Any payment paid for in Guatemala will need to be paid for via a bank deposit to a Guatemalan bank account.

CANCELLATION POLICY

Cancellation by the CLIENT - We strongly advice renter/travellers to get travel and medical insurance for your trip to Guatemala.

Vacation/Short-Term Rentals
The cancellation of a short-term/vacation rental by the client must be made in writing (email will do). The date received will determine the cancellation penalty. Be sure to state the reason for your cancellation, as you may be covered by your insurance policy. In the cases were we are able to re-fill the booking, this will be taken into consideration.
  • 60 days or more before arrival date                                       full refund of money paid*
  • Between 59-30 days before arrival date                                50%* of money paid refunded
  • 29-15 days before arrival date                                                25%* of money paid refunded
  • 14 days or less before arrival date                                         money paid forfeited - NO refund.
* There is a $50 cancellation fee on ALL CANCELLATIONS.

NO REFUNDS of any kind will be available for no shows, late arrival, or early departure.

Monthly Rentals
On ALL monthly rentals there is no refund of your security deposit if you leave your rental before your agreed check out date.

NO REFUNDS of any kind will be available for no shows, late arrival, or early departure.

Long-Term Rentals (contracts of a year)
ALL rentals of a year will require a legal Guatemalan contract, drawn up by a lawyer here in Panajachel, Guatemala, the price is usually divided between the owner and the renter.

Cancellation of a Long-Term Rental by the client must be made in writing (email will do). Notice of termination must be made 30 DAYS (1 MONTH) PRIOR TO LEAVING DATE OR THE NEXT MONTHLY PAYMENT DATE. However, a cancellation fee of 10% of the full remaining rent will ALSO be deducted of the total for the months left to the full term of the rental agreement, along with a $50 cancellation fee. 

If less than 30 days notice is given then the Security Deposit will be used to cover the rental for the days not completed during the month.

ALL OF THE ABOVE ARE NON-NEGOTIABLE - for this reason we emphasise again that it is extremely important to obtain travel and medical insurance before your travel to Guatemala.

Cancellation by MAYAN LAKE REALTY

In the unlikely evetn that we have to cancel a booking a FULL REFUND will be made, and we will endeavour to find you alternative and appropriate accommodation.



 

 







 

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