The process of leasing property in Latvia can follow different paths, depending on what kind of real estate you are interested in. However, the general procedure can be summarised in the following steps (assuming you have already found a property you are interested in):
performing due diligence
signing documents
arranging payments
Also, a note on terminology – the words ‘leasing’ and ‘renting’ can both mean either exchanging the right to use your property for money or giving your money in exchange for such a right. For the purposes of this article the term ‘leasing’ will refer to the process of paying someone in exchange for the right to use their property. In this context, a person that leases a property is called a tenant.
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