San Juan del Sur attracts all types of travelers. Some come to escape cold winters. Others in search of an endless summer. Surfers come for waves. Backpackers for parties. Volunteers visit to offer service. Nature enthusiasts are attracted by the uninterrupted wildlife. Retirees seek a new chapter in life.
Whatever the reason, people are arriving daily. Some stay only a few days. Others weeks. Many stay longer than planned.
What does this mean for property owners? It means there’s a strong rental market – especially for long term rentals. In San Juan del Sur “long term” generally means anything over a month.
So if you’ve got a vacation home in San Juan del Sur that you are not currently living in, it makes sense to get your property management strategy right. To help you get the most out of your Nicaragua vacation home and ensure that your investment is being looked after we interviewed a few reputable property managers for advice.
We had 8 questions. The answers the local experts gave provide valuable insight:
1. What should I expect from my property manager?
“The property manager should pay your bills, pay your employees, help with check-ins and check-outs, inventory the house and more importantly manage the maintenance of the house.” – Nica Life Realty
“You should expect total professionalism from your property manager. You should expect them to manage all areas of your home; maintenance, repairs, staff (cleaner, gardener & security), and accounts (accurately and timely). If you choose to rent out your home as a vacation rental the property manager should also help with promotion, answer inquiries, and provide assistance to clients.” – Monica Sedgwick
2. What should I do as an owner to help my property manager do a great job managing my property?
“Be available. Have money in the country. Communicate.” – Nica Life Realty
“Try to remember where we are, what punishment US style housing goes through in a tropical climate, the cost of running the home, the differences between doing business in developed and developing countries, and of course ensuring there are enough funds with which to manage your home.” – Monica Sedgwick
3. How often should I expect to receive reports from my property manager?
“You should expect to receive financial reports on a monthly basis.” – Nica Life Realty
“I provide my clients detailed financial statements at the end of every month. In addition to that, I notify them of any problems on the property as they arise.“- Monica Sedgwick
4. What are standard property management fees in Nicaragua?
“Our standard fee for management is $150 per month.” – Nica Life Realty
“I charge $100 per month flat rate plus 20% of all rental income, and 15% on top of any repairs, shopping or sale of any personal items of the home owner.” – Monica Sedgwick
5. What kind of rental marketing should I expect?
“Property managers should develop a marketing plan for each rental property they are managing. We consult with each owner on how to market their property. We’ll also feature your vacation home on our main website and manage your AirBnb and VRBO listings if you choose to have one.” – Nica Life Realty
“It depends on the company; usually the company will put the listing on their website (if they have one) and on popular rental sites like VRBO or AIRBNB, they may also help with managing social media sites, the exact agreement should be worked out between the individual homeowner and their Property Management.” – Monica Sedgwick
6. Do you recommend flexible rental pricing according to the seasons?
“Heads in beds. That’s my rule. Just make sure you have heads in the beds.” – Nica Life Realty
“Yes, definitely. Long-term rentals are usually on a fixed price for the length of the lease, but for short term rentals we suggest that owners lower the rental price during the low season and then raise the price for the high season in order to generate more rental income for the owners during peak holidays such as Easter Week (Semana Santa), Nicaraguan Independence Day (Fiestas Patrias), Christmas and New Years. In this rental market it’s extremely important to be aware of the local holidays.” – Monica Sedgwick
7. How can I maximize my rental returns?
“Use multimedia and don’t make property exclusive to any one firm.” – Nica Life Realty
“Focus on internet marketing as that is where most of the leads come from. This involves listing on third party sites that receive targeted traffic. It is critical to promote your property intelligently and price it competitively for the season. A qualified property manager should ensure you have the most appealing home for the most competitive price.” – Monica Sedgwick
8. Tell us a bit about your company and where we can find out more about your services.
“You can get contact details for our company at Nica Life Realty. For property management, ask for Giovanni or Curtis.” – Nica Life Realty
“I have been managing properties in Nicaragua since 2009 and have lived here since 2006. I only manage a small number of properties which allows me to give close personal attention and a higher level of service to my clients. My years in Nicaragua, and my prior experience of running a business here, has given me a thorough knowledge of how to avoid potential pitfalls and save my clients both time and money. I have also built an extensive network of reliable contacts, from cleaners and builders to lawyers, this helps me give excellent service at minimal cost. If you wish to contact me please do so at firstname.lastname@example.org, Movistar +505 8869-7024 or Claro +505 8490-8346.” – Monica Sedgwick
Free Guide Reveals: 9 Things Your Vacation Rental In Nicaragua Absolutely Must Have
If you have a vacation rental in Nicaragua then you should take a look at our free guide on the 9 things your vacation rental absolutely must have.
The guide will be really useful to you because if your vacation rental has these 9 things, you’ll attract more renters and earn more rental income.