Puerto Vallarta Real Estate Tips for Rental Properties: Renting out your property when you are not using it is a great way to help finance your home in Mexico. I am happy to share my experience and recommendations from over ten years of furnishing rental properties and real estate property in Mexico. Here are some more tips for Puerto Vallarta real estate buyers!
One of the new ways to secure your home is with a digital or smart lock. Digital locks install on your main doors. Instead of a physical key to open the lock, you punch in a numerical code to its keypad. These are fantastic devices for rental properties. Physical keys tend to get lost, and copies can easily be made. Digital locks allow you to change the code for each renter, making your property more secure. Once you have used a digital lock, you will find it hard to go back to one with a physical key. Renters love digital locks because they do not have to carry and worry about a key, especially if they are going down to the pool or out for a walk. Digital locks are available at most hardware stores. Always do a little online research to ensure you buy the most secure available.
One easy way to get additional revenue from your rental property is to increase the number of guests you can accommodate. Owning a studio size or one-bedroom rental property does not mean you are limited to only two guests. Murphy beds and comfortable sofa beds can double your rental capacity from two to four people. In some cases, this means you could increase your rental rate per night. It will also expose your listing to a broader pool of people since more renters search for two-bedroom units than one. The cost of adding a Murphy bed or a comfortable sofa bed is negligent in comparison to the increased rental revenue it will drive.
Murphy beds are making a huge comeback. For our humid, oceanfront climate, make sure you invest in the best Murphy bed mechanism available. Avoid the cheap models that are prone to rust, without good warranties.
Rental properties with three or more bedrooms may not be fully booked for the season. We hate to see our clients lose rental revenue. Most renters look for two-bedroom properties, so these tend to book first. To increase your occupancy rate, we recommend that about two months before the open rental weeks, once the chance of renting out your three bedroom property rented is unlikely, offer your property as a two bedroom. Install locks on the bedroom doors and lock off the additional bedrooms. Better some money than it sit empty.
Trying to furnish a home in Mexico is difficult. For the past 10 years, Solutions Mexico has worked hard to become the most trusted furniture company in Mexico. We carefully select our manufacturers and suppliers from around Mexico – all are registered Mexico businesses. We put their products online so you can shop knowing that any item you purchase is very well made and has a warranty. We offer a variety of brands and product lines to fit every budget and style – and you can often customize your piece with different finishes and covers with prices less than you will find in Mexico City and Guadalajara. Contact Sheryl Novak at [email protected]