When it comes to Costa Rica property management, few companies carry the track record of Stay In Costa Rica. In this episode, Richard Bexon sits down with Joaquin Rodriguez, co-owner and sales and marketing director at Stay In Costa Rica, the official property management company of the Los Sueños Resort. With over 25 years in the business, Joaquin breaks down what separates a good manager from a bad one, which amenities actually move revenue, and where he would put his money today.
Inside Los Sueños: A Market of Its Own
Stay In Costa Rica is based in the Los Sueños Resort on the Central Pacific, near the town of Jacó. Joaquin is careful to point out that his perspective is rooted in his specific market rather than the country as a whole.
Joaquin Rodriguez:
Los Sueños is a resort that has an international marina, private golf course, security, and high-end homes. I can’t think of any other destination in the country where you have all those. So Los Sueños is like a market in its own.
Richard Bexon:
I always say that you guys are in the Garden of Eden down there, but I do think it’s an indicator. Even the rest of Costa Rica is doing pretty well as well. Revenue is doing well. It’s just cost control now with the exchange rate, which is really the challenging thing.
What 2026 Looks Like on the Ground
Despite global volatility, the numbers at Los Sueños have held up. Joaquin shared that the first quarter was solid, with most indicators up, even after a modest rate reduction.
Joaquin Rodriguez:
The first quarter was very solid for us. We did reduce our rates by 3%, and the length of stay went down a little bit. The rest of the variables were good.
What stood out was the resilience at the top of the market. The most expensive products were outperforming the prior year, suggesting a segment of buyers who are largely insulated from the international context.
Joaquin Rodriguez:
Our most expensive products, like the high-end villas and the large condos, they’re outperforming last year. When I look at the future, it’s very bright. My next 365 days, all variables are pointing up with figures over 10%.
The 5-Minute Rule Behind 25 Years of Costa Rica Property Management
When asked what built the company, Joaquin pointed to two things: longevity and an obsessive focus on customer service. Strong Costa Rica property management depends on being close enough to react fast.
Joaquin Rodriguez:
We made a promise 25 years ago that we weren’t going to manage any house or property that’s more than five minutes away from where we are. So we turn down houses in other areas, beautiful homes. But if my team cannot be at the door in five minutes, you cannot provide the level of service that we like to provide.
That discipline extends to marketing, too. Joaquin noted that only 10% of their bookings come from OTAs, an unusually low figure that reflects years of investment in direct sources and wholesale relationships.
Hospitality vs. Property Management: Two Legs of the Same Business
Richard and Joaquin agree that the real work is hospitality management, not just property management. The two cannot exist without each other.
Joaquin Rodriguez:
There are two legs of our business. One is definitely property management. And the other one is hospitality. And you can’t have one without the other. If you’re walking into a property and it doesn’t smell well, the linens are not good, the AC is not cold enough, that’s it. That’s game over.
Joaquin Rodriguez:
We don’t sell room nights. We sell experiences. We sell vacations. People don’t come to Costa Rica to stay in an Airbnb. They come to explore, to see the jungle, to learn to surf, to catch their first marlin.
How to Vet a Property Manager Before You Sign
For owners shopping for help, Joaquin’s advice is to interview several companies and lead with one question: how close are you?
Joaquin Rodriguez:
If I was looking for one, my first question is, how far are you from my house? How fast can you react? I’ve learned in 25 years, things are going to go wrong. And what differentiates a good and a bad company is how they react. We’re accountable. We don’t give excuses.
Good Costa Rica property management is about demand, not just upkeep. Joaquin warned against paying for what anyone can do. Listing a home on Airbnb takes minutes; what owners should pay for is real demand generation.
Joaquin Rodriguez:
Pay for someone who travels to trade shows to find customers. Pay someone who has a strong website and invests heavily in pay-per-click, that has a heavy social media following. Those are the companies that are going to best assist you.
Amenities That Earn vs. Amenities That Cost
Richard spends a lot of time with owners and architects deciding what to build, and years of Costa Rica property management have given Joaquin a clear view of what pays off. His list of must-haves is short and practical: strong AC, fast and reliable fiber internet, and a good covered outdoor area with a barbecue.
Joaquin Rodriguez:
We are an outdoor destination. People come to Costa Rica because of its outdoors. So always have a nice covered terrace, a good barbecue. You’ve got a rainy afternoon? No worries. You’re out there grilling the tuna you caught earlier in the day.
His list of things to skip is just as useful: large garages, oversized walk-in closets, home cinemas, and overly complicated gadgets that guests can’t figure out.
Joaquin Rodriguez:
If the intent is short-term rentals, people are here on an average of four or five days. They’re bringing a carry-on. So a huge walk-in closet, it’s not necessary. Keep it simple.
Richard added a hard-won design tip: choose brands you can actually service in Costa Rica.
Richard Bexon:
Use brands that you can get parts for here in Costa Rica. Like SubZero, while it sounds great, is an absolute pain to get parts for sometimes.
Where Joaquin Would Buy a Vacation Rental Today
On the question of where to invest, Joaquin vouched for the proven infrastructure of Los Sueños, but his strategic advice for finding opportunity was about scarcity. He learned to look for visited, growing destinations where the specific product you are buying is in short supply.
Joaquin Rodriguez:
I would look at markets that have a lot of tourists going to Arenal Volcano. It has a lot of hotel infrastructure, but when you look at high-end villas, there’s only a handful. So there’s a huge opportunity. Invest in something that is safe, in a destination that’s very visited or growing, and what you’re buying is unique.
He also made the case for both ends of the portfolio: large villas for lifestyle and legacy, or smaller units for flexibility when you need to free up cash.
The $500,000 Question
Richard Bexon:
My last question for you, which I may know the answer to: if you inherited $500,000, and you had to invest it into a business or real estate in Costa Rica, what would you invest it in and why?
Joaquin Rodriguez:
If I’m looking at my market, a small two-bedroom Veranda specifically would be my advice. And I would look a little bit deeper into Arenal. I think it’s an area with huge potential, super strong brand. But when you move outside of the hotel world, there’s still a lot of room to develop there.
Joaquin closed with a reminder that the numbers rarely tell the whole story. For most homeowners, the memories are the real return.
To connect with Joaquin and his team for Costa Rica property management, visit Stay In Costa Rica. And if you’d like a no-obligation conversation about investing in Costa Rica, reach out to Richard Bexon and the team at info@investingcostarica.com.
