Cost to own an Airbnb in Puerto Rico ~ Actual numbers
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- Опубліковано 9 лип 2024
- If you wan to own a vacation rental, a second home, or live in Puerto Rico it's a good idea to know what it costs to own a house. So if you are planning to rent out your house on Airbnb or live in Puerto Rico full time I'll show you what my expenses look like to own my house. I'll go over taxes, insurance, utility expenses and everything else I can think of that you need to know before you buy a house in Puerto Rico.
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Our expenses in Cabo Rojo (Not airbnb, full time residents 2 adults )
Taxes $2500.00 Yearly
Insurance $800.00 Yearly
Yard $3,600.00 Yearly (Large Yard)
Pest $30.00 Monthly
water $200.00 Monthly ( water sprinkler + refill pool not a rainy area )
Power $475.00 Monthly ( Full Time 2 People + Pool pump and ac all the time )
wifi $100.00 Monthly ( Starlink)
HOA $360.00 Yearly ( Gate breaks a lot too.)
AC $500 Yearly Maintance
Pool $120 Monthly
Car "2015" Insurance $900.00 Year
Thank you!!!! This is very helpful for people to compare. Your overall costs are a little lower. Mainly insurance. But, this is great to see.
Thanks as always for your PR content. We've been following you since day 1, bought in Cabo Rojo in '22, and always look forward to your videos for good advice 🇵🇷🌴🙏
Thanks Manny! I appreciate you sticking around.
@mannyp5823 Looking to buy in Cabo rojo as well. Do you get good business there?
Truly appreciate your content. Thank you for this.
Thanks for watching, and for the comment.
You said how much the costs are, but how much are you making with rentals?? What's the return. The insurance seems expensive, but I'm wondering how much is because you have a pool...
We're thing about doing this, but our goal is to at least have it pay for itself, but a little profit definitely wouldn't hurt. What percentage of the year is it rented?? We would want to have maybe a month and a half during the year for our own use.
I went down with a group to help fix roofs after Hurricane Maria, it isn't too complicated, just a bit of manual labor, and pray for a few days with no rain. A power washer is the main tool unless you have to fix some cracks.
I have a different video where I talked about the income the house. As I said in this video though... it really depends on where your rental, is and how big it is, if you use property manager, if you have a pool, etc. The numbers on this house are similar to my rentals in FL.
Great info as always! All those are expenses anyone needs to consider when thinking of investing in a vacation rental anywhere. Pool maintenance and yard work seem a bit higher than the average price where I live, but homeowners insurance is a chunk cheaper!! For a vacation rental, and the size of the house, I think under $2000/year is where your main savings is. I don't think you could obtain that price in other states where hurricanes are a threat too.
Great observations.Thanks for watching and supporting the channel. As with everything, there are pros and cons. You just have to decide which ones are deal breakers, and which ones you can live with.
After all of the expenses are paid, how much are you able to profit from this particular house?
Good video & I’ll be looking forward to the updates……..I believe you’re in Punta Santiago, correct? I’ve been studying Palmas Del Mar extensively and P.S. is right next door. I’ve looked at some properties in P.S. also, as the pricing there is attractive v.s. Palmas. One serious concern that I’ve read about in P.S. is flooding. I know you have insurance & $650/yr. isn’t bad at all, although getting any insurance company to follow through with adequate repairs on a timely basis is asking a lot anywhere on the island. P.S. is an area that is extremely low lying & I think it got slammed by Maria. I wonder what repairs had to be done to that home in 2017 or whenever the situation was finally addressed
Thanks, they told me the water didn't get to my house. Not sure if we need the flood insurance or not, but it's a pretty cheap policy. There are lots of mangroves and things in the area so it is low. Palmas has some elevation to most of it. Depends on how close to the water you want to be.
Yeah, you’re pretty darn close. Just had heard that P.S. is prone to flooding & it’s sometimes extreme. Not much you can do about it now so I hope that all works out well!
He’s forgetting his labor in that cost! Nobody runs their own business without not having their labor or salary added to the cost.
And plane tickets and rentals cars to come and work on the property. But, I also have a property manager that handles the day today. I didn't include those items because they basically get paid from the profit. They aren't really tangible costs. If I come to the house 6 times a year or 1 time a year my costs will vary but really that isn't a fixed cost. But, you are right.
Who do you use for your rental insurance? Is and is it for STR's or just for rentals? TIA! LOVE the channel. We have an STR in Vega Baja.
Definitely interested in roof repairs
Ok, I'll work on putting one together after I get the bills for the repairs.
@@TheRetirementality thank you
Agree, would like to hear more
Do a roof video.
How muh does it cost to Airbnb your place?
Is that what you have? Our pool guy that built the pool.... who was not good.... said "no one uses sand filters in PR".
@@TheRetirementality my new Airbnb will have a sand filter for the pool
$1800 a month for home insurance?
Per Year.
Sand filters are available in PR.
Lol I was about to say that myself
@@TheRetirementality Yeah that confused me too...