Which Resort(s) Rent the Best?

[PenascoPaul]

Greetings,

We finally decided to purchase a condo on Sandy Beach. We will use it for our family trips to Penasco (about 3-4 times a year) and the rest of the time we will have it in a rental pool. We are looking at 1bd or 2bd, if 1bd then we would use a sofa or murphy bed. We are a family of 5 (2-adults, 3-kids ages 9-17)

Besides Las Palomas, which resorts attract the best year-round rental activity?

Currently, we are looking at Palomas, Palmas, Princessa, Spa, Sea, Sirena.

My research has me favoring Las Palmas, good location, low HOA, 1 bedrooms have ocean view in the two front buildings, well maintained property and grounds.

Thanks!

 

[uhls1986]

My vote would be Las Palamas always enjoyed the place.

 

[marybna]

If you enjoy listening to noise all the time, Las Palomas should be your choice. I have owned at Spa and Bella. Both had good rentals and are popular with families. Bella has the fewest rental units and the most land. I stayed with friends at Princessa this summer and they have done a great job of keeping the place up. I am old and my children are adult. As a result I like calm, quiet places with no kegs on 1st floor patio. My place at Spa had very little renter damage and the same with Bella. I had patio furniture disappear at Las Palomas.

 

[mondone]

Greetings,

We finally decided to purchase a condo on Sandy Beach. We will use it for our family trips to Penasco (about 3-4 times a year) and the rest of the time we will have it in a rental pool. We are looking at 1bd or 2bd, if 1bd then we would use a sofa or murphy bed. We are a family of 5 (2-adults, 3-kids ages 9-17)

Besides Las Palomas, which resorts attract the best year-round rental activity?

Currently, we are looking at Palomas, Palmas, Princessa, Spa, Sea, Sirena.

My research has me favoring Las Palmas, good location, low HOA, 1 bedrooms have ocean view in the two front buildings, well maintained property and grounds.

Thanks!

I have stayed at Las Palmas and Sirena several years ago b4 obtaining my house in Encanto. Both are very enjoyable. Stayed at Palomas and not a favorite of ours.

 

[tortolita]

I've been lurking here awhile. This forum doesn't tend to focus too much on condos but since we've had one since 2009 I feel like I can comment. We still still think that we made a good choice with a one bedroom at Las Palmas since rental income was a priority for us.

It's hard for me to compare to other resorts but in my opinion Las Palmas has a well run HOA. A year or two ago a new rental company that is controlled by the HOA was brought on board. They did a good job with the transition to the new company, holding several information sessions that owners could call into if they could not attend. The HOA control of the rental company results in a better deal for the owners, keeping fees under control and for example if you need some work done you get it at the local cost without a markup.

I think all of the resorts are fairy dead in the winter in terms of rental income. In the summer we've collected good rents with sometimes nearly 100% occupancy from June through September. Much of this is due to the fact that Las Palmas is family oriented and they market aggressively to Mexican nationals. Our condo is not in one of the beachfront building but the view is still good and I think it actually helps our rental income because the rates are a bit lower and we are closer to the big pool with water slides etc. So everything has its trade offs but this resort gave us a good first impression, friendly, everybody knows your name sort of thing versus Las Palomas that has great amenities but sort of of felt like downtown Phoenix. We kind of liked Princesa as well but we couldn't get the terms we needed on a unit at that time.

 

[PenascoPaul]

If you enjoy listening to noise all the time, Las Palomas should be your choice. I have owned at Spa and Bella. Both had good rentals and are popular with families. Bella has the fewest rental units and the most land. I stayed with friends at Princessa this summer and they have done a great job of keeping the place up. I am old and my children are adult. As a result I like calm, quiet places with no kegs on 1st floor patio. My place at Spa had very little renter damage and the same with Bella. I had patio furniture disappear at Las Palomas.

We are the same, we prefer family friendly and less party atmosphere. Seven trips to Penasco, 6 times we stayed at Princesa and 1 time at Bella - enjoy them both.

 

[PenascoPaul]

I've been lurking here awhile. This forum doesn't tend to focus too much on condos but since we've had one since 2009 I feel like I can comment. We still still think that we made a good choice with a one bedroom at Las Palmas since rental income was a priority for us.

It's hard for me to compare to other resorts but in my opinion Las Palmas has a well run HOA. A year or two ago a new rental company that is controlled by the HOA was brought on board. They did a good job with the transition to the new company, holding several information sessions that owners could call into if they could not attend. The HOA control of the rental company results in a better deal for the owners, keeping fees under control and for example if you need some work done you get it at the local cost without a markup.

I think all of the resorts are fairy dead in the winter in terms of rental income. In the summer we've collected good rents with sometimes nearly 100% occupancy from June through September. Much of this is due to the fact that Las Palmas is family oriented and they market aggressively to Mexican nationals. Our condo is not in one of the beachfront building but the view is still good and I think it actually helps our rental income because the rates are a bit lower and we are closer to the big pool with water slides etc. So everything has its trade offs but this resort gave us a good first impression, friendly, everybody knows your name sort of thing versus Las Palomas that has great amenities but sort of of felt like downtown Phoenix. We kind of liked Princesa as well but we couldn't get the terms we needed on a unit at that time.

I like Las Palmas as well, and have read on this forum and other places about it being well run. The property seems well taken care of, and of course the low HOA you can't beat. Palmas also is one of the few where 1-bedroom units have the bedroom up front with ocean/beach view. I like Princesa too, as we have rented there 6 times and next week will be are 7th time. Downside is Princesa has high HOAs and some units we have stayed in are very dated. But I do like the closeness to the beach especially in buildings A and E.

 

[PenascoPaul]

I know the port being finished in the next few years may be a long-shot, but when it is finished, I imagine its impact to Sandy Beach condo values will be positive. Any thoughts?

 

[marybna]

Do you have a restaurant at Las Palmas? I am next door at Bella. I remembering hearing something about a place to eat there.

 

[marybna]

All of us that used to go to Cabo and other places 20-25 years ago when they were first starting to build condos know it goes up and down.. The prices go up and then something happens and people get rid of them at low prices. Then they come back. Just like RP. I know people that have owned in Mazatlán for 25 years. They bought a 3 bedroom on the beach for $160,000. It went over $200,000 when we looked. Then it went So. One like theirs sold for $99,000. 1st floor right on beach. Now they about $175,000. Looks at San Carlos and Kino Bay. I know 2 families that want to sell but can't get what they want for them. We saw Penasco go up and down and back up. Our kids wants us to sell and go back to having a place in Palm Springs. As long as I can still hear the ocean and smell it, I am going to stay right where I am. Bella is rarely busy so it is quiet, the pools are rarely full, two times there were other people in the hot tub when I went to use and there was still plenty of room. Best of all, I can still sleep with the sliding doors to the patio open and hear no screaming from the pool. (Maybe I am just so old, I can't hear!)

 

[tortolita]

I like Las Palmas as well, and have read on this forum and other places about it being well run. The property seems well taken care of, and of course the low HOA you can't beat. Palmas also is one of the few where 1-bedroom units have the bedroom up front with ocean/beach view. I like Princesa too, as we have rented there 6 times and next week will be are 7th time. Downside is Princesa has high HOAs and some units we have stayed in are very dated. But I do like the closeness to the beach especially in buildings A and E.

The Las Palmas HOA folks are some sharp cookies, in a good way, i.e. they actually do their jobs (work hard to do what is in the best interest of the owners).

 

[tortolita]

Do you have a restaurant at Las Palmas? I am next door at Bella. I remembering hearing something about a place to eat there.

The main restaurant has been inconsistent since it has gone through different operators due to it being hard to survive the slow season. Chef Mickey was there for awhile several years ago so that was excellent.

The last time we tried it though with the current operator we were not impressed with the offerings and pricing. Whoever runs it seems to try to make it upscale Mediterranean etc but they should focus on more fast food and "Mexican" type items. On the other hand now there is an outdoor grill that sells great tacos.

 

[PenascoPaul]

All of us that used to go to Cabo and other places 20-25 years ago when they were first starting to build condos know it goes up and down.. The prices go up and then something happens and people get rid of them at low prices. Then they come back. Just like RP. I know people that have owned in Mazatlán for 25 years. They bought a 3 bedroom on the beach for $160,000. It went over $200,000 when we looked. Then it went So. One like theirs sold for $99,000. 1st floor right on beach. Now they about $175,000. Looks at San Carlos and Kino Bay. I know 2 families that want to sell but can't get what they want for them. We saw Penasco go up and down and back up. Our kids wants us to sell and go back to having a place in Palm Springs. As long as I can still hear the ocean and smell it, I am going to stay right where I am. Bella is rarely busy so it is quiet, the pools are rarely full, two times there were other people in the hot tub when I went to use and there was still plenty of room. Best of all, I can still sleep with the sliding doors to the patio open and hear no screaming from the pool. (Maybe I am just so old, I can't hear!)

I stayed at Bella last on the 4th of July, and you right, for a major holiday weekend it didn't feel crowded. But if Bella is not busy, maybe as rental it wouldn't produce as much compared to the other Sandy Beach condos?

We truly enjoyed Bella last year as a family, my wife loves it, and all the greenery throughout the property is rare. My other concern with Bella, is I heard Bella has several management companies renting condos and thus lack-luster rental activity?

 

[PenascoPaul]

The Las Palmas HOA folks are some sharp cookies, in a good way, i.e. they actually do their jobs (work hard to do what is in the best interest of the owners).

I have heard had the same thing, and you can see it in the condition of the condos and overall property upkeep. My gut feeling is Las Palmas would make the best rental, and still be adequate for our family use throughout the year.

 

[PenascoPaul]

Paying all cash for a condo, and having it in the rental pool all year, anyone have an idea, after all monthly expenditures are paid, what I could expect to net yearly?

My rough calculations, puts me in the range of $5000 to $10,000 profit a year, depending on where/what I buy. Do 2-bedrooms rent out better than 1-bedrooms?

 

[PenascoPaul]

Thanks all for all your replies, I truly appreciate your thoughts!

 

[mis2810]

Do you have a restaurant at Las Palmas? I am next door at Bella. I remembering hearing something about a place to eat there.

There's a new restaurant at Las Palmas called The Grille. It used to be all Italian food, called "The Med". There's a lot more variety in the food selection now. Everything I've eaten there has been good. At their main bar by the pool they also have satellite TV where they've been showing soccer matches and fights. Great place to sit and have a few beers and watch the game.

 

[marybna]

I was in SoCa for Christmas and at dinner the topic of Penasco came up. All the friends and relatives love the beach and warm ocean but Hawaii has just gotten too expensive. They asked me about Rocky Point. One of them has rented my place before thru Seaside. Another guest told a story about renting from an owner and paying the owner and when they got there on and on. I told them I give friends and relatives one night free but I have them pay Seaside so if something goes wrong(like the girls upstairs filling the bathtub and leaving the water on when they got a phone call) they have someone to take care of the problem. I have done this for 20 years and every year I have at least one time where the renter needs some assistance quickly and this way they get it. Plus when the maid cleans if she finds a problem they let me know so I can fix it or send something down.

 

[Stuart]

Puerto Privada is bitchin' nice. But they aren't rental condos per se. I've stayed there rental, but only through friends that own.

Top dollar to buy one. But if I was going to buy a condo (for me), that's where I'd rhrow my meager pesos.

 

[Queen of Kings]

Privada is nice. Best in town but I don't see the value. 600k-700k for a base unit is too much. If you have the money, go for it, but if the budget is tight, look elsewhere.