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Nanny Cay is an island of the British Virgin Islands in the Caribbean. It is made up of three cays originally known as Big Cay, Little Cay and Miss Peggy Cay. [1] In the 1970s these were consolidated into a single land mass for a marina and resort development. It is connected to Tortola by a short bridge. A marina, hotel, restaurants ...
The proliferation of short-term rentals can affect those in the area who are looking for long-term rentals. [5] Through short-term rental, landlords can make upwards of 30% more than they would on a rent controlled property. [citation needed] Thus landlords convert their properties into short-term rental units
Real estate in the British Virgin Islands is subject to nominal taxation. [13] Because the amounts payable are so small, it is not uncommon for householders to not pay the tax at all, and then discharge all back taxes and penalties when they come to sell their property. The total tax on residential properties rarely exceeds US$100 per annum.
A 100 GRM (monthly rents) = 8.33 GRM (annual rents). An 8.33 GRM calculated on annual rents suggests the gross rent will pay for the property in 8.33 years. The common measure of rental real estate value based on net return rather than gross rental income is the capitalization rate (or cap rate). In contrast to the GRM, the cap rate is not a ...
Rent-to-own, a term used in the United States for rental of furniture or appliances. The term is also used in the US for real estate transactions, where the tenant has an option to purchase the property at a fixed price at a specified future time. Such arrangements are also known as lease-option, lease-to-own or lease to purchase option.
Buy-to-let is a British phrase referring to the purchase of a property specifically to let out, that is to rent it out. A buy-to-let mortgage is a mortgage loan specifically designed for this purpose. Buy-to-let properties are usually residential but the term also encompasses student property investments and hotel room investments. [1]
The official currency of the British Virgin Islands has been the United States dollar (US$) since 1959, the currency also used by the United States Virgin Islands. [3] The British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region, with a per capita average income of around $47,000 (2022 est.) [47]
Vacation rental bedroom in Liesing, Austria. A vacation rental is the renting out of a furnished apartment, house, or professionally managed resort-condominium complex on a temporary basis to tourists as an alternative to a hotel. The term vacation rental is mainly used in the US.
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