Renting Out a Home in Merida, Mexico
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- Опубліковано 29 вер 2024
- Renting out a home in Merida, Yucatan, Mexico can be an amazing experience with the right team. If you want to know a bit about what it looks like - here you go!
Also, the last part of the video is a bit personal, but I feel like I owe all of you an explanation.
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Quality Description tags: #Mexico, #Merida, #Yucatan, #RealEstate, #MeridaHomes
A bit of an update on the rental side of our house, as well as an update on why it's taken me so long to post a new video...
Your house is beautiful, but wonder why your architect chose sterile colors with clinic cold neutrals if your surroundings are colorful & warm being that it's mexico? Was he aiming for a plain and bare less is more look to contrast the location? Based on the setting, location, geography, environment, culture, your house and the human eye kind of begs for that splash of color, jungle features, water focal points, etc for a punch of personality. Balance is key. As an interior arquitect/ designer that's what my eye sees. Some architects are not interior designers and it shows, while interior designers are also interior architects, so there is a big difference in the designs. Congratulations on your new home. 👏
It's all in individual preference, and we definitely prefer a more "clean" look when it comes to color. Our goal was to utilize artwork (collected over time) to be the primary source of color for the home. On top of that most of the materials are very rich, with natural colors and textures, which don't really show in the walkthrough videos. You'll see more and more color over time, but for now we have the wood, building materials, fixtures, and furniture built from and within Mexico. That was what was most important to us. Thank you for your comment, and thank you for the congratulations!
I feel like I’m watching an infomercial 😂.
But wait, there’s more!
Glad you’re taking time to take care of yourself! ❤
Thanks, Christine. It's been a fun little journey the last few months, but we're getting back to it.
Thank you for this. But also, could you comment on how the finances are structured with the property management company. Is it a percentage, a set fee? Do they deposit your rents to an account in Mexico, US, taxes, etc. Asking to see if I can make the financials work for a similar situation to yours, with a house in Merida that will be rented 80% of the year.
Apologies for the late response, I realized I have a few comments that I didn't respond to and yours was one! The way our rental agreement is set is that it's a percentage if it's an outside rental, but a set fee if it's someone we know. So if there's an AirBNB request, they get a percentage of the rental fee, but if my friend "Joe" goes down there, the just assess us set fee. I don't want to get into the exact numbers because I'm not sure how our property manager has it setup with the rest of his clients, but I will say the numbers made sense for our purposes - especially with the product they deliver. With regard to the income, they do hold it in their account and send us an itemized statement bi-monthly. When we want a payment, we request it but for the most part it's just held by them for any expenses that pop-up.
Discussing taxes, I have to say "check with a CPA", but we do have to pay taxes down there. However, the US has a foreign tax credit that helps against the income tax you'd pay in the US for that income, but you're more than likely still going to pay some tax on the income you make in this situation. This is our first year, so you'll have to forgive me for the lack of information - next year I'll know more! I'll finish with this, thus far we are very much in the black, and are very happy with our situation thus far! Thanks for the comment!
Are you down here? I am. Would love to connect. I'm only here for another week. Take care. (Disregard, I see you're not in town right now). Thanks for sharing your personal experience, glad you are okay now.
Thank you so much, and correct, I'm unfortunately not in Merida right now. Definitely will be this summer, so if you're down then - that'd be a great time!
@@AlexanderFromKC I’ll check back in next time I’m down. I should be coming down in the late spring early summer to furnish the house.
Welcome back looking forward to it!
Thanks, Jaime! Glad to have you!
Hello Alex, I was wondering during summer time how much do you usually pay for electricity monthly? Using your a/c’s
If I remember right, once our solar got hooked up it was 243 pesos, after we were down there for a month without it. I'll have a better idea this summer when we have a full summer with the solar, but that's our situation thus far.
@@AlexanderFromKC ok, thank you Alex.
When are you back?!?!
More than likely next summer, unless I can find a time just after our long-term renters are there. It's unfortunate, but thus is life.