A Second Home

For many North Americans and Europeans having a second home where they can get away in times of inclement weather is a dream come true. Panama is certainly a place to run to if you are looking to escape cold, snow, ice, sleet blizzards and the challenges of winter in northern climes. At that ime Panama is enjoying their summer of dry season and every day s sunny and warm/hot or sunny and pleasant if you live in the interior.

The choices for a second home are unlimited and you have all the same choices as the folks looking for their new home. However, if you are also looing for a stream of income from that home, you need to consider a few more things. One of the most importnt things to consider is who wil manage it when youare not there. make sure it is maintained proeprly and repairs, if necessary, are undertaken. Second of course is who is going to find the tenants or renters, who is going to be responsible for them and any damage they might do, who is going to collect the rent or the nightly charges and how is it going to be divvied up between the manager of the property, and me, the owner.

Fortunately there are more and more property managers available in all areas of Panama, so you can now buy your second home wherever you want it to be and find someone who can look after it well. The other way to handle this issue is to buy into developments where there is a good hotel operator and let the hotel rent your home or some rooms in it. As hotle rooms throughout Panama are in high demand they can usually keep your home pretty full. Just understand they will always rent their hotel fully first. Finally you are finding projects like Nikki Beach and The Orchid and Trump Tower which are Condo Hotels so you simply pay for a room and a suite at the hotel, they rent the room and your share pro rata depending on how the hotel does. Again, since hotel rooms are so hard to come by this is an attractive option, but it mens you will stay in the hotel when you come to Panama nd your room will be taken out of the pool for that period. For people really looking for a second home that may not be particularly desirable..

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