• About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe
No Result
View All Result
Live and Invest Overseas
FREE REPORT
BEST PLACES TO RETIRE
*No spam: We will NEVER give your email address to anyone else.
  • HOME
  • COUNTRIES
    • Top Destinations
      • Panama
      • Portugal
      • Colombia
      • Northern Cyprus
      • Belize
      • Spain
      • Mexico
      • France
      • Indonesia
      • Vietnam
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
Live and Invest Overseas
  • HOME
  • COUNTRIES
    • Top Destinations
      • Panama
      • Portugal
      • Colombia
      • Northern Cyprus
      • Belize
      • Spain
      • Mexico
      • France
      • Indonesia
      • Vietnam
    • Browse All Countries
    • Best For
      • Retire Overseas Index
      • Health Care
      • Cost of Living
      • Investing in Real Estate
      • Editor’s Picks For Retirement
      • Establishing Residency
      • Starting an Online Business
      • Single Women
      • Playing Golf
  • BUDGETS
    • Super Cheap ($)
      • Cuenca, Ecuador
      • Chiang Mai, Thailand
      • The Philippines
      • Las Tablas, Panama
      • Granada, Nicaragua
    • Cheap ($$)
      • Algarve, Portugal
      • Medellin, Colombia
      • Boquete, Panama
      • Carcassone, France
      • Buenos Aires, Argentina
    • Affordable ($$$)
      • Abruzzo, Italy
      • Barcelona, Spain
      • Las Terrenas, Dominican Republic
      • Puerto Vallarta, Mexico
      • Costa de Oro, Uruguay
    • Luxury On A Budget ($$$$)
      • Ambergris Caye, Belize
      • Paris, France
      • Panama City Beach Area
  • Real Estate
  • ARCHIVES
    • Living & Retiring Overseas
    • Raising A Family Abroad
    • Foreign Residency & Citizenship
    • Offshore Diversification
    • Our Latest On Coronavirus ⚠️
  • Making Money
    • International Real Estate
    • Banking
    • Employment
    • Investing
  • CONFERENCES
  • BOOKSTORE
No Result
View All Result
Live and Invest Overseas
No Result
View All Result
Home In Focus: Belize

Is Now The Right Time To Own Rental Property In Belize?

Rachel Jensen by Rachel Jensen
May 04, 2023
in In Focus: Belize
0 0
0
a pool in a sunny day
222
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

When it comes to owning rental property overseas, we want to have our cake and eat it, too.

We want the highest return on investment possible… but we also want to vacation at the property over Christmas… especially if that property is in an enticing destination, like Belize.

If you’re planning on owning rental property in Belize, your arrangement will probably be one of the following:

  1. You’ll live at your property and rent extra rooms
  2. You’ll vacation at your property and rent it when you’re not there
  3. You’ll only rent it out (personal visits aren’t on your agenda)

Getting Started: The Paperwork

To rent out your property in Belize, you’ll first need to have a trade license. This ensures you’re operating your business legally and paying your taxes. 
If you’re buying in an apartment or condo building that’s already operating as a hotel, the management company usually takes care of this paperwork for you. This usually also means they’ll be your property and rental manager. 

If your condo, apartment, or home isn’t operating as a hotel and you want to rent it out, you’ll want to establish a company for your rental business. You can create a local 250 company or an international business company (IBC). 

If you go the IBC route, you’ll need to register your company to do business in Belize. For more information about this topic, contact attorney Ryan Wrobel.

Start Your New Life Today, Overseas

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today

How To Rent: Professional Vs. Self-Management

You have a decision to make: Do you want to be in charge of the rentals, or do you want someone else to do the work for you?

There are pros and cons to both options…

Professional Management
ProsCons

The freedom of not having to be on site all the time

Higher fees than self-management

Professional managers are experts who know the market and can market your property competitively

There’s a risk of hiring a company that is not performing well

 

Professional management is more expensive than self-management, but the fees can be justified depending on your situation.

For instance, they handle the marketing of your unit (and it’s in both parties’ interests that it gets rented), they arrange the hired help, and they handle other factors you may not have considered.

If you plan to be an absent owner and won’t have boots on the ground often, a property and rental manager could be the way to go…

But before hiring any company, do your homework.

Ask other expats for referrals, see how many properties that company has in their portfolio, look for online reviews, and so on.

Self-Management
ProsCons

It creates a personalized experience for your guest

You have to be on call 24 hours a day

You call the shots on rental rates and availability

The workload can be high, especially if you have many rooms and no hired help

The fees charged by rental sites like Airbnb and VRBO are lower than professional management fees

 

Managing your own rental is considerably more work. You’ll need to be present regularly or find a reputable person to help guests when you’re not there—easier said than done.

In Belize, reliability can be an issue. It’s common for someone to offer their help and then not perform.

It’s a good idea to have a few helpers on speed dial… That said, if you plan on being on-site or in the area full-time, self-management could be appealing.

Airbnb and VRBO are the two most popular sites for rentals by owners. At the time of writing, Airbnb only charges hosts 3% per reservation, which is an attractive rate for an online travel agency.

On Ambergris Caye, hosts often offer memorable services to their guests, like airport or water ferry pick-ups and drop-offs.

golf carts in san pedro belize

A Few More Considerations…

  1. If cash flow is your objective, go where the tourists go. Ambergris Caye, Placencia, and San Ignacio are top vacation spots, with tourist numbers rising yearly. Also rising every year are real estate prices.
  2. If you’re buying in a complex or a building with a home owner’s association, you’ll need to make sure you’re able to rent your property out and, if so, if you can rent it on your own.

    Don’t be surprised or upset if they don’t allow it. The decision is usually made for quality control and to ensure there is no confusion in the marketing of the rentals at that property.

    While you may pay more for their services, they’re experts in the field and will make sure your property is well looked after. 
  3. If there is a specific property and rental manager that you must use, ask if there are any restrictions on owner use. Usually, branded hotels have an owner-use clause to ensure they have inventory for rentals. 

    If you want to come and go as you please, a branded hotel room may not be right for you. If your primary goal is income, a branded hotel may be the way to go.

Is Now The Right Time To Own Rental Property In Belize?

It’s a pivotal time in Belize’s tourism industry and an ideal moment for investors to make a move.

Tourism numbers have increased steadily over the past decade (not including the pandemic), and Mother Nature’s best-kept secret is just starting to be revealed.

Airlines continue to add new direct routes into Belize, and the major hotel brands, including Marriott and Hilton, have staked out their pieces of Ambergris Caye…

If you’re after investment property overseas, you’d be remiss not to check out Belize.

Rachel Jensen
Belize Insider

Share89Tweet56
Rachel Jensen

Rachel Jensen

Rachel Jensen joined the ECI Development team in 2012, starting as the organization’s intern at the administrative offices in Managua, Nicaragua. At the end of her 3-month internship period, she had to make a tough decision between accepting a position with the ECI Development team, or chasing her dreams in Panama with the US Peace Corps. She chose ECI Development. Ms. Jensen is the Director of Sales for ECI Development and its subsidiaries. Over the past few years, she has successfully developed and coordinated the unique Teak for Residency Program in Panama and Nicaragua, and has connected 54 owners to their Belize paradise at Grand Baymen. She continues to contribute to the growth of the organization through her passion for connecting prospective owners with opportunities that best fit their international real estate goals.

Related Posts

Car on street of Punta Gorda, Toledo District, Belize
In Focus: Belize

Buying Your Vehicle in Belize vs. Shipping Your Car To Belize

by John Wiankowski
May 17, 2023
0

Just any old car will do when you move to Belize... Or will it? There's a lot to consider before...

Read more
Belmopan, Belize

A Guide To Some Of Belize’s Lesser-Known Small Towns

April 19, 2023
Placencia, Belize

A Placencia, Belize, Primer: Communities, Costs, And More

January 18, 2023
Underwater image of boy snorkeling through coral reef near Ambergris Caye, Belize

The Top Reasons Why Belize Is The Ultimate Adventure Destination

December 28, 2022
Caye Caulker, Belize

Laid-Back Lifestyle In Belize

December 19, 2022
Going In Search Of The Real Belize

Going In Search Of The Real Belize

December 18, 2022
Christmas tree with the gift of tropical resort on the beach

Christmas In Belize: 6 Quirky Traditions

December 14, 2022

Start Your New Life Today, Overseas ...

A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today.

LIOS Resources


  • New To LIOS
  • Ask An Expert
  • Media Center
  • Contact Us
  • FAQs

Quick Links


  • Best Places To Live
  • Best Places To Retire
  • Finding A Job Overseas
  • Real Estate

Sign up for our free daily e-letter, Overseas Opportunity Letter, and get your FREE report: The 10 Best Places To Retire Overseas In 2023

  • About Us
  • Contact Us
  • Privacy Policy
  • Terms
  • Unsubscribe

© 2008-2023 - Live and Invest Overseas - All Rights Reserved.

No Result
View All Result
  • Home
  • Countries
  • Budgets
  • Archives
  • News
  • Events
  • Bookstore
  • Newsletters
  • About Us
  • Members Area
  • Contact Us

© 2008-2023 - Live and Invest Overseas - All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Download your FREE report on

The Best Places To Retire In 2023

New Year, New You, New Life Overseas

Sign up for FREE and learn how to live the good life on a modest budget, find bargain property, and more. Plus, check out our free report on the 10 BEST PLACES TO RETIRE.

RETIRE OVERSEAS AND LIVE LIKE ROYALTY