Purchasing a Turks and Caicos Rental Income Property

The first step to owning your Turks and Caicos rental income property

So you love spending time in the Turks and Caicos Islands and have decided to purchase a Turks and Caicos rental income property. What next?

The first thing you need to consider is your price range and what you can afford to spend on a property. Secondly, how much income are you hoping to generate. On average a Turks and Caicos rental income property can make between 3% to 10% ROI (return on investment). These figures depend on several factors including the size of the property and the owner’s usage.

Location is also a key factor when considering a Turks and Caicos rental income property. Think about where your potential guests would like to stay while visiting the Turks and Caicos Islands. A good bet would be as close to the beach as possible! If you are a boater, however, you might want to consider a Turks and Caicos home on a canal or close to a marina. The great thing about buying real estate in the Turks and Caicos Islands is that you are never far from one of the many beautiful turquoise water beaches!

Condo or Villa? What type of Turks and Caicos rental income property to buy

There are “condo people” and there are visitors who would prefer the additional space and privacy of staying in a villa. How much time do you think you will spend at your Turks and Caicos rental income property? If you are planning to spend more than a month or two, it is recommended that you first consider a property that would best suit your personal needs.

There’s a wide variety of condos enrolled in the various resort rental programs that make a positive cash flow and would be an ideal Turks and Caicos rental income property. Turks and Caicos Property also has a number of excellent homes and villas currently listed for sale that would generate income and allow an owner to occupy when desired.

Buyers, please note that several of these properties also offer separate accommodations. An owner has the option to stay in the “guest” suite or house while renting out the main residence throughout the year. Now is a good time to consider purchasing, as there are a variety of quality properties currently on the market. A Turks and Caicos rental income property to match just about every investor’s requirements!

Benefits of owning a rental income property in the Turks and Caicos Islands

Here are some of the advantages of purchasing a Turks and Caicos rental income property:

• The Turks and Caicos Islands are home to world-renowned beaches, a fabulous climate, friendly locals, a top-rated golf club, and world-class restaurants….the list goes on and on. Most of all, you can’t beat owning a property in one of the most sought-after destinations in the Caribbean!
• Professional local property managers are available to manage your property.
• Ease of advertising on an online vacation rental marketplace such as Vacation Rentals By Owner (VRBO).
• Owners have the benefit of generating passive income with the option of enjoying their property when desired.
• Please note that there is also NO Income Tax on revenue made from a property. There is, however, a one-time stamp duty fee payable to the Turks and Caicos Government on the purchase of your property.
• Owning a Turks and Caicos rental income property is also a great opportunity for retirees who would like a second home in a warm climate with frequent flights from/to the US and Canada.

Contact Bernadette Hunt for additional information on purchasing a Turks and Caicos rental income property and to arrange a showing of one of the many vacation rental homes she has listed for sale.

Find a condo or villa rental income property: