Investing in Vacation Rental Homes in Puerto Rico

5509POSTS

11 years ago

I am considering purchasing a home in the Fajardo area or surrounding towns (Luquillo, Ceiba). As I am not ready to move and retire just yet, I was thinking of renting the place to vacationers like for 2 days to 2 weeks at a time and have it available for rental most of the year as I am still working. There are a few places to advertise like for example AirBNB and others.

I like to hear from others that have properties for rental about how many weeks a year are you able to rent your place and what do you believe is the reason that you are successful or failed to meet your goals on renting?

Also are there businesses around Fajardo that will perform all the maintenance of the property, clean the place between rentals and supply towels and stuff?

I noticed that there are a lot of properties in the market at this time so I want to consider buying a place that someone else can no longer continue to afford.

Love to hear from others in the business.
Thanks

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Mrkpytn Serial expat

373POSTS

11 years ago

My home is on airbnb. you can find it under Ponce Colonial Home. I am away for six months so I have a couple mange it for me. If you can find someone responsible it would make things possible. If they are personable it is better as interaction with guest is valuable with airbnb.

ReyP ViP

5509POSTS

11 years ago

Of those 6 months that the place is available, about how many weeks is the place rented?

ReyP ViP

5509POSTS

11 years ago

Your Place looks great, at https://www.airbnb.com/rooms/1723848?s=RFLQ your customers must be delighted.

Mrkpytn Serial expat

373POSTS

11 years ago

I have a minimum of two nights at $85 per night. That is the most popular amount of time. Sometimes I get a four day and a week is rare. People want to travel around the island and see as much as they can.

wpotvin Active member

89POSTS

11 years ago

I have rental property in that area. Depending on the place, during prime season, Christmas to April, you can get good occupancy say 60-80%. The rest of the year much less. September to November little or none (prime hurricane season). You will do best in resort areas like Rio Mar, but of course these are more expensive. Properties are very negotiable right now, so don't be afraid to be aggressive with your offers. There is a lot on the market. As much as half of the properties for sale are not listed - drive by and take note of the Se Vende signs.

ReyP ViP

5509POSTS

11 years ago

wpotvin wrote:
I have rental property in that area. Depending on the place, during prime season, Christmas to April, you can get good occupancy say 60-80%. The rest of the year much less. September to November little or none (prime hurricane season). You will do best in resort areas like Rio Mar, but of course these are more expensive. Properties are very negotiable right now, so don't be afraid to be aggressive with your offers. There is a lot on the market. As much as half of the properties for sale are not listed - drive by and take note of the Se Vende signs.

Yes I seen a lot of properties for sale in the market, and a bunch seem to be REPOS. I guess a lot of people are unable to afford keeping their home.

Your percentages are very good information, the numbers are encouraging.
Thanks

Rockerjoe Member

12POSTS

10 years ago

I have my west coast rental listed on VRBO, Flipkey, Homeaway and Tripadvisor. At $225 a night I do very well. Not in a resort. $1375-$1500 a week. A month long rental can exceed $7000 which I in turn off a significant discount. I can easily rent 2-3 weeks a month depending on the season.

1 member reacted to this post

ReyP ViP

5509POSTS

10 years ago

Rockerjoe wrote:
I have my west coast rental listed on VRBO, Flipkey, Homeaway and Tripadvisor. At $225 a night I do very well. Not in a resort. $1375-$1500 a week. A month long rental can exceed $7000 which I in turn off a significant discount. I can easily rent 2-3 weeks a month depending on the season.

Wow send pictures of the place. I would love to have a property like that to rent if the rent % of the time is anywhere close to yours. Pictures please.

Rockerjoe Member

12POSTS

10 years ago

#10

vrbo.com/703260 Or got to vrbo and type in 703260

ReyP ViP

5509POSTS

10 years ago

#11

ReyP wrote:
Rockerjoe wrote:
I have my west coast rental listed on VRBO, Flipkey, Homeaway and Tripadvisor. At $225 a night I do very well. Not in a resort. $1375-$1500 a week. A month long rental can exceed $7000 which I in turn off a significant discount. I can easily rent 2-3 weeks a month depending on the season.

Wow send pictures of the place. I would love to have a property like that to rent if the rent % of the time is anywhere close to yours. Pictures please.

I check it, your place is sensational, Open, Very well decorated and with taste. I bet you are proud of it.