Renting & Leasing in Panama

Whether you need a furnished condo for six months or a long‑term family home, this guide explains leases, laws, costs, and the best neighborhoods—so you can rent with confidence.

Rental Landscape Snapshot (2025)

Unit Type	Panama City Core	Beach Areas (Coronado)	Highlands (Boquete)
Studio / 1‑bed	US $750 – $1 200	$600 – $900	$500 – $800
2‑bed Condo	$1 000 – $1 800	$900 – $1 400	$650 – $1 100
3‑bed House	$1 800 – $2 800	$1 200 – $1 900	$950 – $1 500

Figures for furnished units with A/C and parking; utilities extra unless noted.

Short‑Term vs. Long‑Term Rentals

Feature	Short‑Term (<6 months)	Long‑Term (6–24 months)
Contract	Simple reservation or seasonal lease	Formal lease (Spanish) registered with MICI optional
Deposit	1 month or credit‑card hold	1–2 months security deposit (Law 93)
Taxes	10 % ITBMS VAT on stays <30 days	No VAT
Utilities	Usually included	Tenant pays electricity; water/HOA often landlord
Platform Fees	Airbnb/Booking 3–15 %	None (direct lease)
Eviction Notice	N/A—license of use	30 days (tenant) / 90 days (landlord)

Rule of Thumb: Under 6 months? Furnished Airbnb or corporate lease makes sense. Over 6 months? Negotiate a formal contrato de arrendamiento and save 15–25 %.

Tenant Rights & Key Laws

Law 93 of 1973 – Governs residential leases; caps security deposit at 2 months and requires it be held in a government escrow (MIVIOT) if registered.
Notice Periods – Tenant: 30 days; Landlord: 90 days unless breach.
Rent Increases – Allowed once per year, capped at 10 % unless otherwise agreed for furnished units.
Eviction – Court process averages 3–5 months; illegal lockouts carry fines up to US $5 000.

AskPanama reviews your lease to ensure Spanish clauses match any English draft.

Best Areas for Renters

Area	Vibe	Why Rent Here	Typical 2‑Bed Rent
El Cangrejo	Walkable, cafés, parks	Metro Line 1, expat‑friendly	$1 100–$1 600
San Francisco	Residential‑urban mix	Near Parque Omar, good schools	$1 200–$1 800
Costa del Este	Modern, upscale	International offices, seafront path	$1 600–$2 400
Casco Viejo	Historic, nightlife	Rooftop bars, Airbnb potential	$1 400–$2 200
Coronado	Beach, retirees	1‑hr drive to city, golf	$1 000–$1 400
Boquete	Cool climate	Coffee farms, hiking	$800–$1 100

Typical Lease Process

Search & Viewings – Online portals, WhatsApp groups, or AskPanama shortlist.
Offer & Deposit – 1 month rent to reserve; refundable if due diligence fails.
Lease Drafting – Spanish contract; bilingual addendum recommended.
Inventory Walk‑Through – Photos/video + checklist signed by both parties.
Utilities Transfer – Electricity (Naturgy/ENSa), internet (Tigo/Claro).
Registration (optional) – File lease at MIVIOT for dispute protection.

Timeline: 3–7 days from viewing to move‑in for furnished units.

Costs & Utilities

Item	Typical Cost
Security Deposit	1–2 months rent
First Month Rent	Due at signing
Electricity	$0.13 – $0.18 /kWh; $60–$180/mo with A/C
Water & Trash	$10–$25/mo (often landlord)
High‑Speed Internet (200 Mbps)	$40–$60/mo
Cable/Streaming Bundle	$25–$40/mo
House Cleaner	$25–$35 per visit

How AskPanama Helps Renters & Landlords

Curated Listings – We filter scams and overpriced units.
Lease Review & Negotiation – Bilingual lawyers protect your deposit and renewal terms.
Move‑In Concierge – Utility setup, furniture rental, and maid service.
Property Management – 8 % monthly fee covers rent collection, maintenance, and Airbnb turnovers.

Next Step

Tell us your budget & move‑in date via a quick 3‑minute form.

Get a tailored shortlist of 5–8 properties within 24 hours.

Tour virtually or in person—we’ll negotiate and handle the paperwork.

WhatsApp +507‑6933‑3333 or chat live for immediate help.
Rent smart. Live better. With AskPanama.