5 Tips for Owning Profitable Vacation Home Rentals in the Riviera Maya
Finding profitable, turnkey vacation home rentals that offer access to everything guests are looking for can be challenging. Still, in Mexico’s Riviera Maya, the options include luxury condos that come with innovative No Worries No Hassles Ownership and offer 8-14 percent annual return on investment… If you know where to look! Here are five tips to help you find turnkey vacation home rentals that double as income-producing investments in one of the world’s most popular tourist destinations.
1. Evaluate the Potential Risks
The risks of owning a turnkey vacation home rental largely depend on the property’s location, condition, and how it will be managed. For example, investment properties that are located in a top vacation destination like Mexico’s Riviera Maya benefit from the massive number of international tourists who come to this region annually – a number that keeps increasing every year – but visitors are more attracted to new, modern properties with a professional management team in place than they are to smaller, privately-managed vacation homes that don’t come with an impressive list of services and amenities.
2. Offer a Total Vacation Experience
Today more than ever before, travelers are looking for much more than just a place to relax near the beach. From fitness facilities to spa and beach club access, vacation homes that offer guests access to a long list of services and amenities are always more in demand than those that only offer a pool and proximity to the beach. Also, in areas like Mexico’s Riviera Maya, cultural experiences are a huge part of the attraction for international visitors, so it makes sense to offer guests access to reputable tour operators who will make it easy to visit the local freshwater cenotes and ancient Mayan ruins.
3. Provide Excellent Customer Service
Along with offering easy access to all the services and amenities of a major resort, the best vacation homes will ensure that all maintenance issues and other guest requests are handled professionally and immediately. This can be tough for an independent operator, so the best vacation homes are often luxury condos that are part of a larger development with an experienced property management team to ensure that every issue is handled in the best way, right away. Remember, all it takes is one bad review online to cause potential guests to choose another provider.
4. Excellent Security is a Must
Another advantage of investing in luxury condos versus standalone vacation homes is the security larger developments can provide. Many guests will feel much more comfortable trying out a new unit in a modern, secure development that is just a few minutes from the ocean but offers protected parking and 24-hour security than they would be staying in an isolated villa on the beach.
5. Stay Competitive
In today’s increasingly Internet-reliant world of vacation home rentals, it’s harder than ever for small independent operators to get their vacation homes to appear at the top of major sites like Airbnb, but this is an essential part of ensuring high occupancy rates, which directly impact your overall return on investment. As a result, working with a turnkey provider who has a dedicated team to handle all rental listings and bookings is essential for staying competitive. To maximize return on investment and make the most of everything Mexico’s Riviera Maya has to offer as a top vacation destination, some of the area’s innovative new condo-hotels are designed to provide a turnkey, income-producing real estate investment option that also doubles as a personal vacation home for owners. These luxury condos are larger and more comfortable than the cramped quarters you will find at big-box resorts and typical hotels, giving guests a superior value and more personalized overall experience.