Latin America: Four destinations where you can earn with a rental

4 Places to Own a Retirement Home and Rent it Out
In these overseas cities you can purchase a beautiful home and earn rental income when you’re not there. U.S. News and World Report

Renting out your home can give you an additional source of retirement income.
By Kathleen Peddicord

A retirement home overseas can be much more affordable if you rent it out when you’re not using it. If you don’t plan to be in residence for the entire year, being able to rent your house or apartment to holiday-goers can help cover the costs of owning and maintaining the property. It could even provide cash flow to supplement your retirement nest egg.

But finding renters can be a challenge in seasonal retirement spots. In a locale where some times of the year are much more appealing than others, you’ll want to take advantage of the nicest seasons, but those are also the times when you would have the easiest time finding renters. In places where local services, amenities and shops shut down for part of each year, this can be an even greater conflict. You’ll be tempted to take off traveling, perhaps for a return trip home to visit with your family during the off-season weeks or months, but these are the months when you’ll have the toughest time renting out your property.

Punta del Este, Uruguay, is a good example. The summers are glorious. In summer, the beautiful beaches, magnificent weather and world-class restaurants and nightlife draw people from all over the world. However, in winter, Punta del Este’s often dreary weather and shuttered shops attract almost no one. Good luck renting your place then.

If retiring overseas part time and renting out your property the rest of the year appeals to you, focus your search on markets where the rental demand is year-round, perhaps because the location is appealing all year or attracts different kinds of potential renters at various times of year, including the off-season. Here are four retirement spots with year-round rental markets:

Salinas, Ecuador. Salinas is Ecuador’s largest resort, located less than 90 minutes from the international airport at Guayaquil. Referred to as “Little Miami Beach,” the town features an impressive row of white mid- and high-rise condominiums situated on a crescent bay. There are plenty of restaurants, cafés, shops and diversions. There’s more than enough to keep you busy and active while you’re in town.

The resort is centered on the Salinas Yacht Club, which is a popular destination for international sailors and fishing tours. The club’s picturesque yacht basin is filled year-round with a glittering array of vessels. Long before it became a tourist draw, Salinas was known for its sport fishing. For years, local fishermen have hauled in record-breaking sailfish, tuna and marlin.

The weather in Salinas is super between November and March, when you can expect sunny days and sometimes a brief shower in the afternoons. If you’d like a place to escape the North American winter, Salinas is hard to beat. This is a very low-cost beach escape.

During the rest of the year, Salinas is gloomy and overcast. However, this is a case where it’s possible to enjoy high occupancy rates for a rental property during the off season. This is because schools in Ecuador are closed June through September. During these months, Ecuadorean families take vacations, providing a local rental demand during Salinas’s off season.

Pucón, Chile. Chile’s Lake District is a beautiful area with deep blue lakes, snow-capped volcanoes and natural forests, all with dramatic Andean peaks serving as a backdrop. The small lakeside town of Pucón is bustling all summer, with hundreds of shops and restaurants of every description. The world loves it here, and summertime holiday makers come from across the globe. Pucón’s clean streets and shady, green lawns provide a pleasant backdrop for its tasteful homes. The town is on the shores of the sizeable Lake Villarrica, which provides excellent swimming, boating and sailing.

However, Pucón is a two-season destination. In winter, this region attracts skiers, again from across the globe. Less than 20 minutes from the town of Pucón, the resort of Ski Pucón offers an excellent skiing infrastructure and even hosts prominent international competitions. In Pucón, you could ride out the North American winter in the Chilean summertime, while renting to the ski crowd during your off-season or vice versa. Read Article

THINKING OF MOVING TO ECUADOR OR LATIN AMERICA – READ THIS BOOK