Hiring a Property Manager in Medellín From Abroad: The Contract Checklist

If you own in Medellín and live somewhere else, your property manager is the person who actually experiences your investment: they meet the tenants, deal with the building, pay the bills and decide which repairs can wait. A good one makes absentee ownership feel easy. A vague arrangement with the wrong one can cost you rent, deposits you didn't know you'd lost, and trouble with the building or the city. Our property management overview covers what managers do and when you need one. This guide is about the next step: checking that a manager is allowed to do the work, and getting a contract that protects you from another country.

First, decide which kind of management you're buying

"Property management" covers three quite different businesses in Medellín, each with its own rules. Be clear which one you need before you compare anyone.

Many managers offer more than one model. Ask each candidate which one they actually do most, and judge them on that.

Check that they're registered: the matrícula de arrendador

Colombia's lease law requires people whose business is renting out urban housing, or acting as intermediaries between landlords and tenants, to register with the local authority. Its regulation, Decreto 51 de 2004, spells out how that works:

• The obligation applies in municipalities with more than 15,000 inhabitants. It covers people whose main activity is renting urban housing (their own or other people's) or brokering leases, and owners or sub-landlords who sign more than five lease contracts.
• Registration is free, lasts one year and renews automatically.
• The registered firm must show its matrícula number on all advertising and on all pre-contract and contract documents.
• Registration is required in each municipality where the firm operates. A manager registered in Medellín isn't automatically registered in Envigado or Sabaneta.
• The authorities are tasked with making sure administration contracts clearly set out each side's obligations, and with watching for abusive clauses.

If you'll host short stays: what the city requires

In an October 2026 notice, the Alcaldía de Medellín described tourist housing as homes used fully or partly for tourist lodging for stays of up to 30 days. It said operators need, among other things:

• An active, up-to-date Registro Nacional de Turismo (RNT)
• Express authorization in the building's horizontal-property bylaws, if the unit is in a residential building
• Foreign-guest reporting through SIRE and the lodging registration card (TRA)
• A code of conduct against the commercial sexual exploitation of children and adolescents (ESCNNA)
• Tax and commercial registration (RUT and registro mercantil) and payment of the FONTUR tourism contribution

The stakes are high. The city says the Superintendencia de Industria y Comercio can fine providers who offer tourism services without an RNT up to 2,000 monthly minimum wages, that local authorities can order closures, and that short-term rental platforms must remove listings without a valid RNT. Read our 2026 crackdown explainer before you commit to this model.

The contract checklist

The regulation asks that administration contracts be clear on payment terms and fees, upkeep of the property, compliance with the building's rules and duties toward tenants. Use that as a floor. Before you sign, make sure the contract answers every item below:

• Parties and registration: the firm's legal name, tax ID (NIT), matrícula de arrendador number and legal representative
• Scope: which model (long, mid or short-term) and exactly which tasks are included and which are extra
• Fee basis: how the fee is calculated (percentage of collected rent, fixed fee, per-stay), whether it applies to empty months, and any setup, leasing or renewal fees
• Money flow: which account receives rent, how quickly the manager pays you, in what currency and to which account
• Statements: a monthly statement showing rent received, every deduction and supporting invoices
• Spending limit: the amount the manager can spend on a repair without your written approval, and an emergency exception
• Vendors: whether the manager uses related companies for repairs or cleaning, and a duty to disclose it
• Tenant selection: screening criteria, who approves the tenant, and what guarantee is required (co-signer or rental insurance policy)
• Inventory: a signed inventory with photos at every move-in and move-out
• Building bills: who pays predial and administración, from which funds, and proof sent to you each time
• Utilities: which are in the tenant's name and which stay in yours
• Building rules: a duty to follow the reglamento de propiedad horizontal and to pass on assembly notices
• Compliance: for short stays, who holds and renews the RNT and handles guest reporting
• Insurance: what coverage exists for the property and its contents, and who pays for it
• Term and exit: notice period, what happens to existing leases and bookings, and handover of keys, documents, deposits and tenant files
• Authority: exactly what the manager can sign for you, and nothing broader

That last point matters. A property manager doesn't need a general power of attorney to manage a lease. If you've given one for your purchase, review its scope (see buying remotely with a power of attorney) and keep management authority separate and specific.

Rent, taxes and getting money out

Rental income in Colombia raises tax questions: what you owe in Colombia, what's withheld, and what your home country expects. Answers depend on your residency status and situation, so get them from a Colombian accountant before the first tenant moves in. Our guide to whether buying makes you a tax resident is a starting point.

Two practical points for the contract:

• Ask the manager what they withhold or report on your behalf, and which documents they'll give you each year for your own filings.
• Plan how money leaves Colombia. Many owners have rent paid into a Colombian account in their name, then send funds abroad from there. How your original purchase was registered with Banco de la República affects how you send money out later, so read selling later and repatriation and confirm with your bank.

Don't build your plan on a manager's promised returns. Our rental yield reality check explains why projections and results often differ.

Questions to ask in the interview

1. "How many units like mine do you manage, and where?"Experience with your building type and neighborhood matters more than total size.
2. "Can I see a sample monthly owner statement?"If they can't show one, you won't get one.
3. "How do you choose tenants or guests, and who approves them?"Listen for a real process, not "we know people."
4. "What happened the last time a tenant stopped paying?"A concrete answer tells you more than a promise.
5. "How do you work with the building's administración?"Managers who fight with the building make your life harder.
6. "Can I speak with two current owners you manage for?"Then ask those owners about payment timing and communication.

Red flags

• No matrícula number, or one that doesn't appear on their documents
• Rent collected into a personal account, or reluctance to show statements
• Promises of short-stay income without asking about the building's bylaws or the RNT
• A contract with no exit clause, or one that keeps deposits and files if you leave
• Pressure to sign a broad power of attorney "to make things easier"
• Unexplained "maintenance" deductions without invoices

Our article on property scams foreigners encounter covers related patterns.

The first 90 days with a new manager

Treat the start like an audit. In the first month, walk the unit with the manager (in person or on video), sign the inventory and confirm who pays which bills. In the second month, check that the first statement arrived on time with invoices, and that predial and administración receipts match the city's and the building's records. By the third month, you should know whether payments arrive when promised. Fix small problems in writing early, while the relationship is new and the contract is fresh.

Frequently asked questions

This article is general information for property owners. It is not legal or tax advice. Rental and tourism rules change and depend on your building and situation, so have an independent Colombian lawyer review any management contract, and an accountant advise on tax, before you sign.