Jamaican Real Estate for Airbnb
Jamaicans living in Canada, the USA, United Kingdom, and any other country that possesses the financial means should seriously think about investing in the Jamaican Real Estate Market. More importantly, investing in real estate for AirBnB in communities with high tourist traffic. Too many Jamaicans living overseas write off Jamaica as a place that can make no money. However, you have Chinese and Indians coming here broke and becoming millionaires. Foreigners are now buying cheap land and real estate property and making a profit. Jamaicans with means both at home and abroad should be taking advantage of the fact that Jamaica is a tourist destination and buy real estate in tourist hot spots and use for Airbnb.
What is Airbnb?
Airbnb is an online marketplace that provides homeowners an opportunity to rent out their homes short term. Also, allow travelers to rent houses, cheap and short-term, in a specific locale. Airbnb operates in all most every country around the world. They have listings in about 100,000 cities and has hosted over 800 million guest arrivals since its inception.
How do you make money with Airbnb?
Making money on Airbnb is pretty easy and straight forward. The following three simple steps by Airbnb:
- List your space for free on Airbnb: You can sign up and advertise your home to millions of travelers with no strings attached on Airbnb—no sign-up charges or membership fees.
- Receive a Booking: Once someone sees your listing and likes it, they will book it. Airbnb charges each guest before arrival to ensure you will always get paid on time when you host. You never have to handle money directly.
- Get paid after check-in: Airbnb typically releases your money about 24 hours after the guest’s scheduled arrival to ensure check-in goes smoothly.
That is it. That is how easy it is to make money with Airbnb. Simple have a house available to accommodate guests, list it on Airbnb and start earning. You can also do your own advertisement. You have a co-worker coming to Jamaica on vacation, let them know your place is available for rent as an Airbnb.
Why should Jamaicans abroad invest in Jamaican Real Estate for Airbnb?
If your a Jamaican living diaspora and find yourself with unproductive, disposable income, then my suggestion is to buy real estate property in Ocho Rios, Montego Bay, or Negril.
Earn Extra Income
If you should purchase a property in any of the communities mentioned, then your money would be working overtime for you. It would make money passively via appreciation of the property in the coming years and actively via Airbnb. The Jamaican Real Estate Market has seen tremendous appreciation over the years due to the number of young professionals and foreigners buying homes on the island. So as a Jamaican, purchasing a home or making one on the island is an ideal investment.
Employ Family Members
If you have family members in Jamaica seeking employment, then starting an Airbnb is the perfect opportunity to employ them. The good thing about Airbnb is that you don’t have to be in Jamaica to manage it. The Airbnb website takes care of all the customer service and all the administrative work. All you have to do is manage the property to ensure it is clean and accomodating. This is where a family member or a friend comes in, pays them to ensure the property is clean after each guest checks out. You can check to see if the property is clean via Zoom or any other video call, and you can pay them for their work via bank transfer or western union.
Just like that, you have a business with very little operating cost or labor.
Contributing to Jamaica Development
Overall this would be a great way to contribute to Jamaica’s development and economy. You would be directly infusing capital in the Jamaican economy, providing employment, and overall, expanding the tourism sector.