If you are considering investing in a property in the Riviera Maya and are thinking of using your property as a rental, there are a few things to think about, one of them being, do you want to use the property for a long term rental or a short term?
First things, first, let’s talk about the difference between short-term and long-term.
A long-term rental is a rental of 6-12 months, while a short-term rental is anything less than 6 months, usually for someone visiting our beautiful area for their vacation. With more and more people being able to work from home, visitors who have fallen in love with Playa del Carmen, Tulum, and the Riviera Maya, are deciding to embrace the Caribbean lifestyle and call this their home permanently, or at least for a year or more. We’ve seen the long-term rental market explode since 2019, with people from big cities like New York and L.A. trading in the high rental costs and city life for the relaxed pace of a beach town.
How do you decide which type of property is right for you? The biggest thing to consider is do you plan to use your property occasionally, coming down for the winter months or a couple of weeks a year for vacation?
If the answer is yes, a short-term rental property gives you this option, you can schedule you visits based on your rental calendar.
Here are a few other things to know about Short Term Rentals vs. Long Term Rentals:
⚡ High Demand Vacation destination
⚡ You can still enjoy the home yourself
⚡ You can adjust your rental price seasonally
⚡ Consistent cash flow
⚡ Less day-to-day maintenance
⚡ Tenants pay utilities
Once you’ve decided what type of rental property you’re looking for, it’s important to communicate this with your agent at Moskito, so they can point you in the right direction when it comes to the best areas for short term vs long term rentals.
Click here to learn more about Investment Properties in the Riviera Maya with Alejandro Cosme:
We´ve put together some resales & presales for your that are perfect for rentals: