Short Term Vacation Rentals and Property Management in Belize
Is your strategy to purchase a property in Belize that you plan to use as an investment?
If your investment strategy includes using the property as a short term vacation rental you will be interested in learning about property management in Belize.
Short term rentals are governed by the Belize Tourism Board. You will be required to register your rental property with the Belize Tourism Board (BTB) and follow their processes to stay in good standing. Some property management companies will provide a service to assist you in getting your property set up with the Belize Tourism Board and ready to rent.
Vacation Rentals are referred to as Short-term vs. Residential Rentals that are referred to as Long-term. The main distinction is that if your guest are in the country on a tourist visa, they must stay at a rental property that is registered with the BTB. Visitors are required to stay at a Vacation short-term rental as they do not have the immigration status such Qualified Retired Person, Permanent Residency, Work Permit, Student Visa Holder etc. to qualify to stay in a residential long-term rental.
Vacation Rental proprietors are mandated by Law to remit the proper tax to the BTB for use/rental of a registered property’s rooms/units.
Vacation Rentals are a great way to manage your investment especially if you are planning to only personally use the property for a short time during the year.
If you own a condo within a development, you may be required to use the rental pool program to rent out your property. The Condo Association Documents will detail out these requirements.
If you own a stand alone home, you will have an opportunity to manage the property yourself utilizing marketing companies such as VRBO or Airbnb. Or you can hire a local property management company to handle the investment on your behalf.
Your quality of life and strategy for your investment will help guide you in the proper direction.
Vacation Rentals in Belize is a great way to maximize your property investment.
Other services that may fit your needs:
Belize Real Estate: What is “Right” for you?
Qualified Retirement Plan Application Services
Personalized Relocation Consulting Services