The purpose of this study was to examine the perceptions of school principals and teachers about the principal leadership competencies. The study was conducted in two schools located in rural communities from the Southeast Mexico. Data collection involved document analysis and surveys addressed to principals and teachers. Findings of the study indicate that principal perspectives are different from those of teachers. While principals emphasized motivation and leadership competencies, teachers were more concerned about the principal school management competencies. Some differences were found on teacher perceptions about principal effectiveness in relation to teacher level of preparation and years of experience.