When visiting Mexicoâ€™s Riviera Maya, whether itâ€™s for a quick getaway, vacation or lengthy stay, there are a variety of resources to look for accommodation. Mexicoâ€™s Secretary of Tourism, Marisol Venegas, wants to make some positive changes. One of the more popular engines for finding accommodation is Airbnb. The Secretary has personally been discussing her new policy changes with an Airbnb representative. She is proposing several new guidelines that will assure more confidence for tourists visiting the area. The new policies and regulations put forth will help improve safety for the renters and decrease liability for owners. Now, as an investor in the area, you need to understand these new regulations. They will positively benefit your investment.
New Proposals for a Safer Rental Business
The Secretary is currently proposing the following issues:
- Transportation security and mobility when needed between the airport and their reserved accommodations. Renters frequently arrive on later flights and getting to their destination can sometimes be difficult. There needs to be a guaranteed safe source of transportation readily available.
- Defining the difference between a property used for casual rental purposes and a full-time commercial business investment. The Secretary is proposing a total of a 120-day per year limit on a propertyâ€™s availability for rental. Anything over 120 days will be considered a commercial property and would then need an appropriate operating license.
That second point is especially important to anyone who invests in properties for the purpose of renting them out year-round. We would advise checking with your lawyer and accountant if having your property under a Mexican corporation would give you the proper license to rent out over 120 days per year.
Marisol Venegas also stated that other online rental platforms like VRBO (Vacation Rental by Owner), Home Away and Home to Go will also have to comply with Mexicoâ€™s positive changes. The exemption to these new policies will include hotels, resorts and other multiple rental and commercial establishments.
Secretary of Tourism Wants Owner-Renter Sinergy
The newly proposed policies are just that â€“ proposals. When made law, they will insure overall consistency throughout Mexicoâ€™s Riviera Maya ultra-tourist region. Here are some advantages for both the rents and owners:
- Making sure there are no safety issues with the renter getting to and from their destination and, at the same time, keeping the ownerâ€™s liability at a minimum. This includes arranging and/or providing adequate transportation for the guest and owners.
- When people purchase property in Mexico for any reason, they want to keep the privately-owned complex(es) in order and in acceptable shape for all the residents and guests. Limiting the flow of a constant in and out exchange of renters keeps a community atmosphere and not a hotel environment.
- Keeping the Riviera Mayaâ€™s casual accommodations in proper order allows for specific purposes within the rental communities. It separates commercial business from the casual investor. The benefits are so the owners and renters to coincide with one another. The Secretary of Tourismâ€™s positive changes will be specifically outlined regarding the propertyâ€™s intended use.
There’s Other Options Available
Other options for owners and investors are to market their properties on their own. This works as long as they stay in accordance with the Secretaryâ€™s new policies. This will save you money by by-passing any fees that an online site like Airbnb charges, self-direct times and dates to rent, make clear the exact guidelines that need to be followed, and provide any additional information needed regarding transportation and security. The second option is to hire a property management company that will handle all the arrangements including times and dates, transportation (if needed), specific instructions regarding any property covenants, and assure total compliance with the Secretary of Tourismâ€™s new policies.
If youâ€™re an investor in Playa del Carmen or Tulum, there is no need to worry. These are just proposals until now. However, we recommend you start studying into how this will both affect and benefit the flow of your vacation rentals in the Riviera Maya. And if youâ€™re just starting to look at the idea of having an investment property in paradise, give us a call. Our Buyerâ€™s Representatives can find the perfect property for you to advertise on Airbnb.
And remember, at Top Mexico Real Estateâ€¦we make it happen!