PPL that live in PDC ONLY plz

[2hot4U]

I would love to get info from ppl that live in PDC if that is possible.That own thier own places .I would love it to if the thread stayed on the subject of owning a home down in PDC. How easy or hard is it to rent the place out when your not there and how much do you pay a company to watch over the property?Insurance when a hurricane hits if any. Is there any unforseen problems that I might run into. tanks 2hot4u

[Babaloo]

Originally Posted by 2hot4U

I would love to get info from ppl that live in PDC if that is possible.That own thier own places .I would love it to if the thread stayed on the subject of owning a home down in PDC. How easy or hard is it to rent the place out when your not there and how much do you pay a company to watch over the property?Insurance when a hurricane hits if any. Is there any unforseen problems that I might run into. tanks 2hot4u

A thread staying on topic

I hope you get your answers.

[JAH]

Please do a search. These questions with answers have appeared many, many times.

[2hot4U]

Originally Posted by JAH

Please do a search. These questions with answers have appeared many, many times.

I have heard that before could you tell me how to do that? sounds easy to the trained person to me sound like japanese????????plz?????help

[JAH]

At the top of the page in the dark blue board, you will find the word Search with a down arrow beside it. Click on it. A small window will pop up. Type in your keyword(s) and click on go. A page should show up with a list of thread that speak to the subject you are interested in. If the threads aren't ones you want, then refine your keywords until you get what you want.

Also, at the bottom of this page, you will see a list of threads that are similar to the one you have started. Happy hunting!

[Big Fish]

We live in Canada and own a villa in Playacar. It entirely depends on who you get to manage and look after your property in PDC. Our PM's charge a 20% commission on all rentals they bring in, and any money they handle. For example if they have to pay your taxes and condo fees and do any maintenance repairs etc, they will tack on 20% on top of what they paid out on your behalf. So for the big stuff, (taxes/annual condo fees) we tend to time a trip there and do it ourselves. If we have friends staying there, ie rentals we as owners have booked in not people from the internet, they they just charge a basic "babysitting fee". They take care of any fees associated with website advertising, and set up the websites and take pictures also.

We are really fortunate to have the team we have as, they provide quite a superior service compared to lots of property managers. Instead of just handing the key over on arrival and the guests not having any more contact with the PM for the rest of the stay, ours pop in daily or every other day to see if they need anything, book any trips, arrange for cook etc. They also provide maid and maintenance service, bottled water and whatever else is needed.

Renting it out?....depends on your advertising, your PM's ability to rent it out and how many friends appear! Some owners handle their own rentals from home base, but the package deal for us works well as we are so far away. When you think about people that own condos in for example ski resorts up here, often the commission is 40% with no extras provided - just a key to get in. So 20% isnt so bad for what we get.

Hurricane Insurance runs at around US$1000/yr. We didnt have enough damage to need to claim on that this yr - which is good! You do have to get a Fideicomisio (Trust) set up in order to own....but ours is only just coming to fruition 1 1/2 yrs after buying the place, and many people who have owned for 5+ yrs still don't have it and are still trying! By not having it in hand does not mean you cannot rent it out in the meantime, but to avoid legalities down the road you do need it. Most importantly, you MUST get the Title to the property which can be tricky sometimes - so check on that.

Hope this helps a bit.

[absoluteAL]

Originally Posted by Big Fish

We live in Canada and own a villa in Playacar. It entirely depends on who you get to manage and look after your property in PDC. Our PM's charge a 20% commission on all rentals they bring in, and any money they handle. For example if they have to pay your taxes and condo fees and do any maintenance repairs etc, they will tack on 20% on top of what they paid out on your behalf. So for the big stuff, (taxes/annual condo fees) we tend to time a trip there and do it ourselves. If we have friends staying there, ie rentals we as owners have booked in not people from the internet, they they just charge a basic "babysitting fee". They take care of any fees associated with website advertising, and set up the websites and take pictures also.

We are really fortunate to have the team we have as, they provide quite a superior service compared to lots of property managers. Instead of just handing the key over on arrival and the guests not having any more contact with the PM for the rest of the stay, ours pop in daily or every other day to see if they need anything, book any trips, arrange for cook etc. They also provide maid and maintenance service, bottled water and whatever else is needed.

Renting it out?....depends on your advertising, your PM's ability to rent it out and how many friends appear! Some owners handle their own rentals from home base, but the package deal for us works well as we are so far away. When you think about people that own condos in for example ski resorts up here, often the commission is 40% with no extras provided - just a key to get in. So 20% isnt so bad for what we get.

Hurricane Insurance runs at around US$1000/yr. We didnt have enough damage to need to claim on that this yr - which is good! You do have to get a Fideicomisio (Trust) set up in order to own....but ours is only just coming to fruition 1 1/2 yrs after buying the place, and many people who have owned for 5+ yrs still don't have it and are still trying! By not having it in hand does not mean you cannot rent it out in the meantime, but to avoid legalities down the road you do need it. Most importantly, you MUST get the Title to the property which can be tricky sometimes - so check on that.

Hope this helps a bit.

I used a law firm out of Merida when I bought my first property in Playa and the Fideicomisio (through ScotiaBank) was all set by by closing on the property. As far as the TITLE (by far the most important thing when buying in MX), Stewart Title Company (the largest title company in the US) now has an office in Playa (I believe that it is located in the plaza with ScotiaBank on Avenue 10).

[2hot4U]

Originally Posted by Big Fish

We live in Canada and own a villa in Playacar. It entirely depends on who you get to manage and look after your property in PDC. Our PM's charge a 20% commission on all rentals they bring in, and any money they handle. For example if they have to pay your taxes and condo fees and do any maintenance repairs etc, they will tack on 20% on top of what they paid out on your behalf. So for the big stuff, (taxes/annual condo fees) we tend to time a trip there and do it ourselves. If we have friends staying there, ie rentals we as owners have booked in not people from the internet, they they just charge a basic "babysitting fee". They take care of any fees associated with website advertising, and set up the websites and take pictures also.

We are really fortunate to have the team we have as, they provide quite a superior service compared to lots of property managers. Instead of just handing the key over on arrival and the guests not having any more contact with the PM for the rest of the stay, ours pop in daily or every other day to see if they need anything, book any trips, arrange for cook etc. They also provide maid and maintenance service, bottled water and whatever else is needed.

Renting it out?....depends on your advertising, your PM's ability to rent it out and how many friends appear! Some owners handle their own rentals from home base, but the package deal for us works well as we are so far away. When you think about people that own condos in for example ski resorts up here, often the commission is 40% with no extras provided - just a key to get in. So 20% isnt so bad for what we get.

Hurricane Insurance runs at around US$1000/yr. We didnt have enough damage to need to claim on that this yr - which is good! You do have to get a Fideicomisio (Trust) set up in order to own....but ours is only just coming to fruition 1 1/2 yrs after buying the place, and many people who have owned for 5+ yrs still don't have it and are still trying! By not having it in hand does not mean you cannot rent it out in the meantime, but to avoid legalities down the road you do need it. Most importantly, you MUST get the Title to the property which can be tricky sometimes - so check on that.

Hope this helps a bit.

That helps Alot your the right person to talk to. I was also thinking of buying a property down there and renting it out while I'm not there . Do you find that it's rented out most of the time or do you find that it sits empty alot. I have people that want me to get a place down there but for there own reasons lol....I too am from Canada Vancouver BC. Right now we are staying at a friends down there at a great deal . But I would love to have my own place.The only ones I hear from are agents and you can't always believe them. Playacar is a great area that is where I would like to look awell. Thanks for all your info.regards





T

[Big Fish]

As you know prices are quickly on the rise, but I think still a great investment. Also depends what you want to spend and whether you want a condo or villa. This upcoming winter season is only our 2nd, but last yr we were full from dec - mid May. This yr is approaching on the same. It all depends how aggressive you and your PM are! We block ourselves out for xmas and new years as people pay the ridiculous prices for those weeks which takes care of paying a good portion of the years monthly costs. The summer months are usually the quietest from a rental point of view, but we have been down both this and last august and loved it. I think a lot of rental places utilise these summer months to do any renos's or major maintenance also, as well as cleaning overhaul etc.

We have also been fortunate to be able to fill a lot of the time with friends and work colleagues who get a great deal, and probably respect the place somewhat more knowing the owners! That eases our minds also! Its a toss up really .....if its rented out most of the time, then you will be replacing stuff more often (ie linens, towels etc), but if its not then your income is less, but you're not replacing stuff either!! Two other sets of friends bought places in the same complex and are thoroughly enjoying it also.

Phase 1 is hyper expensive and from an owner's point of view more maintenance as you are likely to be replacing appliances (such as A/C's, fridges etc) more frequently - being that much closer to the corrosive effects of the ocean air. Phase 2 is more affordable but on the rise. If you are planning on renting it out, location is a necessity also.....not everyone wants to rent a car, so it is preferable to be within walking distance to everything. Obviously access to a pool is a huuuge renting feature also. We actually had renters last yr who scoped out villas to rent in phase 1 - closer to the beach yes, but no decent size pool to swim laps in, so opted for us only 1 block further back.

Other friends of ours have not had such a good time of it - they bought in the north end of town behind Coco beach, preconstruction and it has turned out to be a nightmare (that whole Sol Maya/Luna Maya disaster), coupled with a non english speaking lawyer! They're off next wk to try to sort things out and look at their options.... so don't rush into it.....go check it out and make sure all is in order first.

[2hot4U]

Originally Posted by JAH

At the top of the page in the dark blue board, you will find the word Search with a down arrow beside it. Click on it. A small window will pop up. Type in your keyword(s) and click on go. A page should show up with a list of thread that speak to the subject you are interested in. If the threads aren't ones you want, then refine your keywords until you get what you want.

Also, at the bottom of this page, you will see a list of threads that are similar to the one you have started. Happy hunting!

Thanks that also helps alot I have never used the net before so how all this works is news to me..It's amazing really all you can find out from this computer if you know how to use it. Knowing how is half the battle. But I noticed when you don't know how people are ready to attack your character. This I don't understand. I have alot to learn, but I only want to learn from the nice people lol. Thanks nice people Hugs 2hot4u

[2hot4U]

Originally Posted by Big Fish

As you know prices are quickly on the rise, but I think still a great investment. Also depends what you want to spend and whether you want a condo or villa. This upcoming winter season is only our 2nd, but last yr we were full from dec - mid May. This yr is approaching on the same. It all depends how aggressive you and your PM are! We block ourselves out for xmas and new years as people pay the ridiculous prices for those weeks which takes care of paying a good portion of the years monthly costs. The summer months are usually the quietest from a rental point of view, but we have been down both this and last august and loved it. I think a lot of rental places utilise these summer months to do any renos's or major maintenance also, as well as cleaning overhaul etc.

We have also been fortunate to be able to fill a lot of the time with friends and work colleagues who get a great deal, and probably respect the place somewhat more knowing the owners! That eases our minds also! Its a toss up really .....if its rented out most of the time, then you will be replacing stuff more often (ie linens, towels etc), but if its not then your income is less, but you're not replacing stuff either!! Two other sets of friends bought places in the same complex and are thoroughly enjoying it also.

Phase 1 is hyper expensive and from an owner's point of view more maintenance as you are likely to be replacing appliances (such as A/C's, fridges etc) more frequently - being that much closer to the corrosive effects of the ocean air. Phase 2 is more affordable but on the rise. If you are planning on renting it out, location is a necessity also.....not everyone wants to rent a car, so it is preferable to be within walking distance to everything. Obviously access to a pool is a huuuge renting feature also. We actually had renters last yr who scoped out villas to rent in phase 1 - closer to the beach yes, but no decent size pool to swim laps in, so opted for us only 1 block further back.

Other friends of ours have not had such a good time of it - they bought in the north end of town behind Coco beach, preconstruction and it has turned out to be a nightmare (that whole Sol Maya/Luna Maya disaster), coupled with a non english speaking lawyer! They're off next wk to try to sort things out and look at their options.... so don't rush into it.....go check it out and make sure all is in order first.

Boy I'm I glad I talked to you because that was what they were trying to get me to buy!!!!!When you say your paying someone does this mean like your paying maintence ie:townhouse and you must pay this monthly. This is what a villa is? My husband thinks we should get a house down there and not think of any fees otherwise. I do love Playacar and all the things you are saying are making perfect sence ,although I don't think I thought of all of that..When you say close to the beach do you mind me asking how close ?To get my place there I will have to sell my place here and buy there and have my foot in Vancouver and PDC. I was thinking maybe 6 months there and 6 months here. Your info has been fantastic thanks so much for taking the time I really appreciate it big hugs 2hot

[2hot4U]

Originally Posted by absoluteal

I used a law firm out of Merida when I bought my first property in Playa and the Fideicomisio (through ScotiaBank) was all set by by closing on the property. As far as the TITLE (by far the most important thing when buying in MX), Stewart Title Company (the largest title company in the US) now has an office in Playa (I believe that it is located in the plaza with ScotiaBank on Avenue 10).

I am copy and pasting that info.lol Tanks ...2hot

[Big Fish]

Condo association fees are only applied to an area of houses or condos that share facilities that need to be maintained. We're in Villas del Mayab that has a tennis court, pool, shared garden area and 24 hr security, so monthly fees (25 houses) are about $US270/month to keep it running. It is on the west side of the Xaman Paseo in Playacar, just by the roundabout as you exit Playacar entering 10th on the 3rd hole of golf course - so about a 3min walk to beach across the rd The PM you hire should take care of any maintenance issues separately, for your individual villa/condo. So I would think if you got an individual house not in a grouping of others that share facilities you probably wouldnt have monthly condo fees.

[oklahomajack]

I too will meet with realators in Feb on some property there and in Puerta Morealos.Iwill live in it after early retirement in about 5 years but will buy now as I have been comming to Playa since 88 and it is sky rocketed since.

[Riviera Maya Ar]

We have been in PDC for 6 months, and spending time looking at different areas. Every time we think we have it figured out a new point of confusion hits us. The time is near for us to make a decision and buy we are tired of living in a apartment. We have a little different set of criteria because we are looking for a place to live long term not a rental property, but we are getting close to figuring it out right or wrong.
Penny & Jim