Key takeaways
- A unit can clear the third layer and fail the first.
- If the seller says other owners "do it anyway," that is tolerance, not permission, and it ends the day one neighbour enforces.
- The bad option is operating quietly: fines accumulate against the unit, and a sanctioned unit is harder to resell.
- Closing takes 30 to 45 days once the deal is agreed.
- Annual property tax runs from 0.3 to 1.2 percent of the cadastral value.
If you buy a unit in Edificio San Lucas to rent to tourists, the document that decides whether you can is the building's reglamento de propiedad horizontal, not the municipality and not the owner. Short-term rental yields in the area have historically run 8 to 15 percent gross a year, but only on units where the reglamento permits transient occupancy.
Checklist · Before you sign a promesa
The 12 documents I check on every deal
Tick them off as you collect them. Saved on this device.
Superintendencia de Notariado y Registro, online; valid 30 days
The notaría where it was signed; ask for a certified copy
The municipality's tesorería or hacienda office
The building's or gated community's administración
From the seller; the RUT downloads from the DIAN site
Granted at a notaría, or at a consulate if the seller is abroad
Printed on the predial bill, or from the municipal catastro
In the deed and on the cadastral record
Latest paid bills from EPM or the local operator
Declared before the notary in the deed itself
Drafted by your lawyer or agent; never sign the seller's version unread
Curaduría urbana or the municipal planning office
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Where each document comes from
- Certificado de tradición y libertad: Superintendencia de Notariado y Registro, online; valid 30 days
- Prior deed: The notaría where it was signed; ask for a certified copy
- Property-tax good standing: The municipality's tesorería or hacienda office
- HOA good standing, if applicable: The building's or gated community's administración
- Seller's ID / RUT: From the seller; the RUT downloads from the DIAN site
- Power of attorney, if the seller is represented: Granted at a notaría, or at a consulate if the seller is abroad
- Cadastral appraisal: Printed on the predial bill, or from the municipal catastro
- Survey and boundaries: In the deed and on the cadastral record
- Utilities up to date: Latest paid bills from EPM or the local operator
- Family-home protection certificate: Declared before the notary in the deed itself
- Promesa de compraventa draft: Drafted by your lawyer or agent; never sign the seller's version unread
- Building permit, if applicable: Curaduría urbana or the municipal planning office
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Where does the rule actually live?
- The reglamento de propiedad horizontal. The building's registered constitutive deed defines each unit's destination: residential, commercial or mixed. If it says residential only, transient rental is contestable by any other owner.
- Assembly resolutions and the manual de convivencia. Even where the reglamento is silent, the assembly can pass rules on guest registration, access, common areas and fines. Ask the administrador for the minutes.
- Municipal land use. The territorial plan sets what the parcel allows. In a consolidated urban building it is rarely the obstacle, but confirm lodging is permitted.
A unit can clear the third layer and fail the first. That is the common outcome, and it costs money.
What do I ask for, specifically, before I sign anything?
In writing, and read them yourself:
- The certificate of tradition and freedom, requested with the registry number: registered owner, mortgages, liens, encumbrances, and the annotation of the propiedad horizontal regime.
- The full reglamento, especially the clause on destinación de los bienes privados.
- The last three actas and the current manual de convivencia.
- A paz y salvo de administración. Unpaid administration follows the unit.
- The current administration fee and any approved or proposed extraordinary levy.
If the seller says other owners "do it anyway," that is tolerance, not permission, and it ends the day one neighbour enforces.
What if the reglamento says residential only?
- Reprice as a long-term rental. Long-term rentals have yielded 5 to 9 percent gross a year. Model the lower band before deciding the price still works.
- Push for an assembly amendment. It needs the majority set in the reglamento, often qualified, and is not fast. Never buy on the assumption it will pass.
- Look at a country house or finca. In Guatapé and El Peñol a country house starts at about US$183K with a typical ask near US$328K, a finca at about US$168K near US$451K, against an apartment from about US$87K with a typical ask around US$156K. A standalone property has no assembly, only the municipality.
The bad option is operating quietly: fines accumulate against the unit, and a sanctioned unit is harder to resell.
How does this fit the purchase timeline?
Closing takes 30 to 45 days once the deal is agreed. Do the reglamento review in the first week, because it is the only finding that can make you cancel and cannot be fixed at the closing table. Budget buyer closing costs of about 2 percent (notary 0.27 percent, registry 0.67 percent, beneficencia 1 percent) plus your lawyer, who should read the reglamento.
What does it cost to hold the unit either way?
Annual property tax runs from 0.3 to 1.2 percent of the cadastral value. Administration is a separate monthly charge set by the assembly and is the line that quietly compresses yield; ask for it in pesos per month. Capital gains are 15 percent when held two years or more. Appreciation has historically run 7 to 8 percent a year, history, not a forecast. For the building-level detail, see the full guide.
Is there a version of this check I can do in a day?
Yes. Get the registry number, pull the certificate, and call the administrador for the reglamento and last actas; if they will not release them to a prospective buyer, the seller can request them. If nobody will produce the reglamento, that is your answer.
How we knowFigures as of October 13, 2026. Prices: active listings we verified ourselves; USD rate: TRM 3,194.44 COP per US$1, valid October 10, 2026 (Banco de la República, via datos.gov.co).
Frequently asked questions
Can I legally Airbnb an apartment in Edificio San Lucas?
Only if the reglamento permits transient occupancy. Municipal approval does not override it, nor does the fact that other owners already rent short-term.
Which documents should I read before signing a promesa de compraventa?
The certificate of tradition and freedom, the full reglamento, the last three actas, the manual de convivencia, and a paz y salvo de administración.
What yield should I expect if short-term rental is not allowed?
Long-term rentals have yielded 5 to 9 percent gross a year against 8 to 15 percent for short-term, before administration, tax and management.
How long does the whole purchase take?
30 to 45 days once the deal is agreed.
What will I pay in closing costs and annual tax?
About 2 percent in closing costs plus your lawyer, and annual property tax of 0.3 to 1.2 percent of the cadastral value.
