I am also a licensed Realtor in Jamaica. I am a banker (TD) in Canada. The pre approval letter is really important. I bought my own 2 way ticket and flew to down to Jamaica when I get that piece of document. It shows I have a serious client and not some time waster. The commission on those sales cover those little airline tickets. Those who are buying investment properties this Airbnb nonsense. Your place will get run down easily. Long term lease ensures that tenants are vetted and no buttus or lowlife or sugar baby becomes your tenant. 🇨🇦🇨🇦🇨🇦🇯🇲🇯🇲🇯🇲
are you saying it’s better to get a nice long term tenant that will take care of the place than do the more profit way of airbnb cause it will run down the property?
@@Rohan876x Airbnb is not profitable in the long run. I own a property in Montego Bay. My tenant is hotel manager . He is from Mexico. Let me correct myself. The tenant is the hotel , the occupant is the person. If you get a high value client you dont need any Airbnb with that repair and maintenance expenses. Some neighbour associations are putting no airbnb in the bylaws too.
@@misterlexx2721 But base on my understanding when u list you property on Airbnb or decide to list it on your own you can charge fee that goes towards repair and maintenance,plus since the JMD weaker than the USD u can earn more so how would it not be profitable in the long run? Regarding HOAs,there ways I think u can avoid that issue 1)Base on the reports I have seen their are complaining that the owner doesn't live at property, so all you have to do is ensure the property is big enough so you can live there. 2) If your going to buy a property for short term rental buy in a development that is already known for that,eg Drax Hall and Mamnebay are areas that are known for guests houses /villa and now Airbnb's. 3) Buy a property in an area that doesn't have a problem with short term rentals.
For the first question, this cost to pay the listing agent is transferred to the buyer in the selling price of the property. So dont tell the buyer that they dont pay for it.
Can you PLEASE address the mold situation at Pyramid Point in St.Anns. Manukah Developments is responsible and has been ignoring the issue. They are also developing Paradisiac beach club. The Gleaner covered the story but that’s it. 50 of the 200 properties have mold issues and poor construction. Those homes were sold for 350k usd. This type of behavior will discourage investment in Jamaican real estate not to mention the health issues. Jamaican businesses must operate with more professionalism. This is a BIG DEAL.
I would say don't worry about that because that was literally the first slab roof development I had ever heard of that problem, I suspect they used some sort of inferior sealant which had mold spore infestation. I could be wrong, it's my best guess.
Kameka Fullerton excellent Attorney, Great Teacher and Good Realtor this was very good clear information to buyers and sellers.
I am also a licensed Realtor in Jamaica. I am a banker (TD) in Canada. The pre approval letter is really important. I bought my own 2 way ticket and flew to down to Jamaica when I get that piece of document. It shows I have a serious client and not some time waster. The commission on those sales cover those little airline tickets. Those who are buying investment properties this Airbnb nonsense. Your place will get run down easily. Long term lease ensures that tenants are vetted and no buttus or lowlife or sugar baby becomes your tenant. 🇨🇦🇨🇦🇨🇦🇯🇲🇯🇲🇯🇲
are you saying it’s better to get a nice long term tenant that will take care of the place than do the more profit way of airbnb cause it will run down the property?
@@Rohan876x Airbnb is not profitable in the long run. I own a property in Montego Bay. My tenant is hotel manager . He is from Mexico. Let me correct myself. The tenant is the hotel , the occupant is the person. If you get a high value client you dont need any Airbnb with that repair and maintenance expenses. Some neighbour associations are putting no airbnb in the bylaws too.
@@misterlexx2721 got it, thanks for clearing that up for me.
Do you have a contact number or email I can reach you
@@misterlexx2721 But base on my understanding when u list you property on Airbnb or decide to list it on your own you can charge fee that goes towards repair and maintenance,plus since the JMD weaker than the USD u can earn more so how would it not be profitable in the long run?
Regarding HOAs,there ways I think u can avoid that issue
1)Base on the reports I have seen their are complaining that the owner doesn't live at property, so all you have to do is ensure the property is big enough so you can live there.
2) If your going to buy a property for short term rental buy in a development that is already known for that,eg Drax Hall and Mamnebay are areas that are known for guests houses /villa and now Airbnb's.
3) Buy a property in an area that doesn't have a problem with short term rentals.
So insightful. Thanks for the education.
Who pays the mortgage agent or broker who connects me with a mortgage officer in my preferred bank?
For the first question, this cost to pay the listing agent is transferred to the buyer in the selling price of the property. So dont tell the buyer that they dont pay for it.
Can you PLEASE address the mold situation at Pyramid Point in St.Anns. Manukah Developments is responsible and has been ignoring the issue. They are also developing Paradisiac beach club. The Gleaner covered the story but that’s it. 50 of the 200 properties have mold issues and poor construction. Those homes were sold for 350k usd. This type of behavior will discourage investment in Jamaican real estate not to mention the health issues. Jamaican businesses must operate with more professionalism. This is a BIG DEAL.
I am concerned with that concrete roof top terrace considering what has happened at the Pyramids in St. Ann with mold
I would say don't worry about that because that was literally the first slab roof development I had ever heard of that problem, I suspect they used some sort of inferior sealant which had mold spore infestation. I could be wrong, it's my best guess.
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who in their right minds thinks renting is better than buying?