OFF THE CUFF: Big fines for short term holiday renters

IF YOU ARE thinking of making a quick buck or at least getting some return on your investment by renting an apartment to short term holidaymakers, you may want to think again or face a heavy penalty.

The campaign against property being rented out for tourism purposes has heated up with the introduction of a snitch line and penalties with fines ranging from $5000 to $50,000 for those who “promote and commit” the crime.
The Tourism Authority of Panama (ATP) has opened up a communication channel for businesses and individuals to report cases of homes rented to foreign tourists in the capital, in compliance with Law 80 prohibiting this activity.

Jorge Loaiza, president of the Panamanian Hotels Association of Hotels told Panamaamerica. that “… it is fully in accordance with the determination of ATP to stop [this form of] piracy. According to Loaiza, the measure protects Panamanians from people posing as tourists who come for other purposes.”

According to the director of Tourism Investment at the ATP Nadgee Bonilla,.. “there are 11 cases of people fined $5000 by the ATP with, plus two cases of repetition of the activity for which they could be fined $10,000.”
Apartment dwellers who have experienced everything from robberies to abuse of social area facilities by transient visitors will likely applaud the move. Others will see it as an infringement on their rights as property owners.