What document do I need to rent a home in Mexico?
All landlords require renters to have a Mexican co-signer or “Fiador”. If the “Fiador” is your Company, you would only need to provide a copy of your ID (Passport). Your immigration documents are not requested to lease a property in Mexico. Your employer would need to provide the deed of incorporation (“Acta constitutiva”) and proof of ID of the legal representative. If a company acts as a “Fiador” the value of the business serves as collateral.
In case your Company is not your co-signer, landlords may require a “Fiador” that owns a property which can serve as collateral in the same state as the rental property. Some landlords may require that the fiador’s property be free of any debts (“Libre de Gravamenes”). The landlord may decide not to accept a “Fiador” if they consider that inadequate protection is provided; for example, the value of the property owned by the “fiador” may not be accepted as sufficient.
Newcomers without a sponsoring employer may find it difficult to obtain a “Fiador” and for this reason, a “Fianza” may need to be obtained to guarantee the lease. A “Fianza” is an insurance policy hired by the tenant and is available through insurance companies, or from specialist financial institutions (“Afianzadoras”). Applicants should expect to provide documents proving their financial situation, as well as bank statements, credit history, work history, or other documents.
In rare cases the landlord may accept a letter from the applicant’s employer confirming salary and duration of employment, or advance payment of a year’s rent instead of a “Fiador” or “Fianza”.