{"id":109,"date":"2008-12-02T00:06:01","date_gmt":"2008-12-01T17:06:01","guid":{"rendered":"https:\/\/www.topmexicorealestate.com\/temp-blog\/?p=109"},"modified":"2017-08-29T15:45:03","modified_gmt":"2017-08-29T20:45:03","slug":"outlining-your-goals-for-your-rental-property","status":"publish","type":"post","link":"https:\/\/www.topmexicorealestate.com\/blog\/2008\/12\/outlining-your-goals-for-your-rental-property\/","title":{"rendered":"Outlining Your Goals for Your Mexico Rental Property"},"content":{"rendered":"

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As with any investment, there are risks to consider but the desired result is to capitalize on many of the great benefits. When buying a Mexico rental property<\/a>, we must do our due diligence in determining costs, potential income<\/a>, and how we want the Mexico rental property to work for us. <\/span><\/p>\n

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When deciding on a Mexico rental investment, stop to ask yourself these questions:<\/span><\/p>\n

MEXICO RENTAL INVESTMENT PROPERTY CHECKLIST<\/h2>\n

o<\/span> <\/span><\/span><\/span>What do I want to obtain from this property <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Am I looking for a specific rate of return (ROI) or just looking to break-even <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What are the tax benefits of a rental property <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Will I hold this property long-term and wait for appreciation or try to sell it quickly <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Will this be my retirement home <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Will I rent the property for long-term or short-term use <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>How will I prevent myself from getting emotionally attached <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What will the market comparables indicate rents will be <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Will I use a property manager or will I try to manage the property myself <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>How do I find the best Property Manager for me and what should I expect from my Property Manager <\/span><\/span><\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Why do I need to place money into a Property Management escrow account <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>If renting my property as a vacation rental, how will I furnish it and what should I provide <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>How will I find a Tenant and how much will it cost me <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Should I allow pets <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>How do I know that I am getting a good Tenant <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Should I require the Tenant to have renter s insurance <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>How much should I charge for a security deposit <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Does the Tenant pay the HOA dues or does the Landlord <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What does the lease REALLY say and does it protect me <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Common mistakes Landlords make with their Tenant s.<\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What happens when my Tenant s lease expires <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>How do I handle lease renewals <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What does preventive maintenance mean <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What happens when the Tenant does not pay rent <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What happens if I my Tenant moves out <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>Can I keep my Tenant s security deposit <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What does vacancy really cost me <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>What improvements to make to my property and which improvements make the most sense <\/span><\/p>\n

o<\/span> <\/span><\/span><\/span>As a Landlord, what else should I expect out of my rental property <\/span><\/p>\n

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In an effort to help you to become a successful Landlord, each week we will take an in depth look at many of the above questions and associate them with typical rental property experiences. <\/span><\/span><\/span><\/p>\n

Kami Kemp<\/strong> is both a Texas Realtor and Real Estate Broker candidate in Arizona with Prime Properties. She is a member of the Texas Association of Realtors, the National Association of Realtors and National Association of Residential Property Managers. She began her career in Property Management and Leasing in 1990, has served on various education committees through local associations and has taught many Fair Housing compliance and marketing classes throughout her career.<\/em> www.TOP<\/span>mexicorealestate.com<\/a><\/p>\n

\"Page<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As with any investment, there are risks to consider but the desired result is to capitalize on many of the great benefits. When buying a Mexico rental property, we must do our due diligence in determining costs, potential income, and how we want the Mexico rental property to work for us. When deciding on a […]<\/p>\n","protected":false},"author":7,"featured_media":13609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[77,287,289,79,13,286,288,255,1730],"tags":[1528,1530,1517,252,1540],"class_list":{"0":"post-109","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-how-to-buy-real-estate-in-mexico","8":"category-mexico-long-term-rentals","9":"category-mexico-property-management","10":"category-mexico-property-tips","11":"category-mexico-real-estate-tips","12":"category-mexico-rental-property","13":"category-mexico-vacation-rentals","14":"category-playa-del-carmen-rental-property","15":"category-real-estate","16":"tag-how-to-buy-real-estate-in-mexico","17":"tag-mexico-property-tips","18":"tag-mexico-real-estate-tips","19":"tag-mexico-rentals","20":"tag-playa-del-carmen-rental-property","21":"entry"},"_links":{"self":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/109","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/comments?post=109"}],"version-history":[{"count":1,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/109\/revisions"}],"predecessor-version":[{"id":14907,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/posts\/109\/revisions\/14907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media\/13609"}],"wp:attachment":[{"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/media?parent=109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/categories?post=109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.topmexicorealestate.com\/blog\/wp-json\/wp\/v2\/tags?post=109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}