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The Trump Ocean Club, the tallest building in Latin America, offers more luxury apartments for rent than any other building in Punta Pacifica, drawing property investors and executives from around the world.

But renting an apartment in Panama City can be a confusing and frustrating experience. In an earlier installment, we discussed the importance of understanding the complexities of buying in the Trump. With a building the size of the Trump, the same diligence is required before starting the process of finding and signing a contract to rent an apartment in the Trump.

The rental price will vary dramatically based on the size, floor, view and whether the residence is delivered unfurnished, furnished or turnkey, including bath linens, televisions, kitchen ware, decorations, balcony furniture, etc. All those elements can result in a price swing from around $1,800 a month for a studio apartment to more than $12,000 a month for a 4-bedroom Penthouse option.

As with most business transactions, owners expect to negotiate, and in almost all cases there is room to do so. In very few cases owners have structured their units at an already reduced rate to avoid any negotiating and these units are normally very clear up front about the final price.  And, of course, there is also the occasional owner in La La land who thinks his apartment should rent at a 50 percent premium over those with similar characteristics in the same building and refuses to budge on price. Those can often sit empty for months.

Below are some important details and facts to consider when starting a rental search at Trump Ocean Club.

• Security deposits in Trump for furnished apartments are typically the equivalent of two-month’s rent, as most have $20,000 to $50,000 in furniture that warrants its own deposit. Accordingly, the payment required at signature of the contract will be two months deposit plus the first month’s rent.

• Most owners request lease terms to be a minimum of one year and the building administration requires a minimum rental period of six months to avoid transient residents and competition with hotel long-term guests.

• Owners are more flexible with price when they see longer term commitments. Agreeing to two- or three-year contracts can be helpful when negotiating.

• Pets are allowed up to 25 lbs.

• On site business offices are available for rent in the resort as well as conference rooms and business center facilities.

• Electricity is an additional monthly cost to consider as with any other building in Panama.  However Trump Ocean Club has a multi-million dollar chiller system on the roof which delivers cooled water to each apartment’s air conditioning condensers, significantly reducing individual unit energy consumption. The result is lower monthly electricity bills than the adjacent buildings in Punta Pacifica.

• Access to a full service fitness facility with TechnoGym equipment is available 24 hours, and staffed with trainers at no extra fees. Yoga, Pilates, and crossfit classes are also offered, but at an additional cost

• A few other nice perks include: 24-hour room service can be dialed from the intercom included with the apartment, as well as maid services and valet parking.

Punta Pacifica Realty has become the authority on the Trump Ocean Club and we proudly represent the largest group of residential investors with apartments for rent. For questions regarding sales and leasing, property management or to just get the inside track on the best sales and rental opportunities, feel free to contact our office at 507-836-5991 or email us at sales@puntapacifcarealty.com 

Jeff Barton is the Managing Director of Punta Pacifica Realty, the leading sales and property management company in the exclusive waterfront skyscraper neighborhood of Punta Pacifica. Jeff can be contacted at jeff@puntapacificarealty.com

In case you missed the earlier installments in the series:

Trump Ocean Club: The Good, Bad and Ugly (Part 1)

Trump Ocean Club: The State of the Market (Part Two)

Trump Ocean Club: Finding the Best Investment Opportunity (Part Three)