What you should do if you have a property for rent or lease in México?
If you own property in México and you need to rent it out, I have some suggestions to help you being protected in case something goes wrong (rentors not paying rent on time, or not paying at all, causing damage to your property or building, fixing anything without your permission, causing problems to neighbors, you name it).
1.- A good rental agreement in Spanish, prepared or reviewed by an attorney. If you are working with a realtor, make sure he/she is a lawyer or has the real estate degree or is using a contract already revised by an attorney.
2.- One month deposit (hold by the owner and refund to rentor at the end of the rental if no damage was done or owe any money)
3.- Fiador signature.- a person who owns local real estate and promise to pay any money owed for the rentor (in case he does not pay). Fiador has to be provided by rentor.
4.-Certificado de libertad de gravamen.- certificate of free liens of Fiador´s property.
5.- Copy of ID´s of rentor and fiador
All this will provide you with the tools and proofs to act in case something goes wrong, but you will still need to hire a trial attorney to start a trial against the rentor.
Also, it will be very convenient to set 2 or 3 inspections during the year, just to make sure everything is in order.