What are the benefits of buying property
on St. John compared to other USVI islands or other Caribbean islands?
St. John is considered the “crown jewel”
of the US Virgin Islands and was protected by Congress when they
established the U. S. National Park here in 1950’s and later
when an additional 13,000 submerged acres were added as “Virgin
Islands Coral Reef National Monument”. The full time population
of St. John numbers about 4500 while St. Thomas and St. Croix each
have over 50,000 citizens. This difference alone makes St. John
a peaceful island with the feel of a village. The US Virgin Islands
are under the American flag and this means that property owners
have the protections of the US Constitution, legal and banking systems
which other Caribbean islands cannot offer because they are foreign
governments. Many of the other islands mandate Americans to pay
additional taxes and acquire special permission as “non-belongers”
to own property.
How easy is it to rent homes/villas
and how much rental income can I expect?
With only 2 hotels and a few small inns on island, demand for rental
homes on St. John is consistently great. Depending on the time of
year, every home on island could be rented out! Most homes on the
short term rental market are managed by one of the dozen or so excellent
rental management companies on island.
The income and occupancy levels of a home are influenced by a variety
of factors including accessible location, number of bedrooms, view,
and amenities such as pool or hot tub, air conditioning or beach
access. The price charged can vary from $1,200 to $20,000 per week
with prices decreasing slightly in off-season. On average, you can
expect a successful rental home to stay rented 36 weeks or more
What do Rental Management companies do and how much
do they charge? What is the best rental management company?
For the off-island owner, a good rental management company is a
must. Their fees are generally between 20 to 30% of rates and can
include advertising and booking, handling the deposits and payments,
arranging for a rental car and an island tour to the villa. Water,
cable TV, telephone, propane, insurance, exterminating, homeowner’s
association fees, and taxes are usually extra. Overall a home owner
might expect to net between 40-60% of their gross rental income
after commissions and expenses are paid.
All of the rental management companies on island do quality, responsible
work. You can and should shop around to find the one that is right
for your house. Here is a list of the companies that Holiday Homes
is proud to be associated with:
Artistic Villas by Donald Schnell 800-253-7107 www.artisticvillas.com
Caribbean Villas 800-338-0987 www.caribbeanvilla.com
Catered To, Inc 800-424-6641 www.cateredto.com
Seaview Vacation Homes 888-625-2963 www.seaviewhomes.com
Suite St. John 800-348-8444 www.gallowspoint.com
Since most managers are very busy they are usually unwilling to
devote a lot of time to potential Buyers questions until they are
familiar with the island and have looked at properties with a Realtor.
To assure their attention your real estate sales agent will be happy
to provide personal introductions to them or you can mention that
we referred you on our website.