All Forum Posts by: Keith Kennedy

Rental Rates high season

Daily range $125-$160

Weekly $850-$950

Rental Rates low season

Daily $105-$120

Weekly $675-$800

 Residential tower is one of the most sought-after residences in the beach area.

The building is an icon and a staple in Panama’s beach communities– particularly amongst English-speaking expats and vacation homeowners.

It’s known throughout Panama for its ideal location, breathtaking coastal views, resort-style amenities, and spacious high-quality apartments.

 amenities include:

• Direct beach access
• Rooftop pool and social area with panoramic beach and mountain views
• Ground pool and social area
• Children’s pool
• Fitness center
• Game room
• Low monthly maintenance fees
• Covered parking
• 24-hour security

Other advantages:

• Home to an established community of English-speaking expats
• A short walk to several excellent restaurants and a mini-supermarket
• About five minutes drive to the major supermarkets, banks, shopping, and more restaurants
• Just over an hour from Panama City, largest city and national capital
• Developer units have long since sold out, and people take advantage when a resale comes on the market.
• High resale value and reliable rental income

The Apartments

iconic and high-demand development– occupying an exclusive and enviable waterfront position and filled with lavish amenities.

The units, which sit on the 1st, 2nd, and 4th floor, each offer a prize-winning & unobstructed view of the Pacific, and a private balcony 

fully furnished, with modern tropical-chic décor that suits its beachfront ambience

 kitchenettes have also been provided

Now for the numbers: average monthly rental: $2,200; property mgmt fee $115, condo maintenance fee: $68; Cable wifi $60; electric $60 mo, Rental mgmt fee: 20%; asking $185,000 USD

More detail in terms of Property insurance, taxes pending. Must know age of tower to estimate cap ex

What are the normal price ranges for PM's?  How do PM's typically structure fees?

Does any doe business in Panama? Do the banks there use ACH?  WOuld like to use in the future but don't know if Cozy works outside the USA

What are the traits of an excellent PM? When is it time to fire the current PM? How should a smart REI monitor the PM? Thank you in advance for your great advice!

What criteria need I consider for (1) hiring, (2) firing, and (3) managing a PM?  THANK YOU in advance. 

Thank you so much, all of you for your great advice.  This is my first BP post, and it proved most helpful.  You are my first "mentors."  Should you have more thoughts, I'm quick to hear. 

Are these two separate rules of thumb? Writers have opined on this forum before on this topic, but I remain confused. Rules are made to be broken, so how far do these rules extend?  Assuming they are different rules, when does each apply?  If they are the same rules, why are they differently named?  Thank you in advance. 

How do I upgrade to Plus or Pro when the module involved is disabled, and has been for days? Nor can I use the chat facility? WHo do I notify about this problem?

What should I consider when purchasing rental income property overseas?