There are many sound reasons why property owners on Isla Mujeres rent out their homes. Firstly expenses; if you have a home with gardens and pool they both need to be maintained as does the house itself. So the most important thing renting does for the owner is cover all you annual expenses, in just a few short weeks of renting. Then there is profit, many of those who plan to use the property for themselves and their family (often arranging a special rate for friends who want to holiday on Isla Mujeres) and rent the property, much of the time whilst they are not there, you then move from covering expenses to profit.
Interestingly many of those who own Isla Mujeres luxury homes who are now retired and living permanently on the island still rent. The reason is easy to see, if they have a rental, even if it is a more modest home it is still going to bring in $200.00 per night, ten nights is $2000.00. There are many wonderful places to visit and holidays you can go on for that sort of money, so they happily move out for ten days. Or you can do what we do; when we are on the island we stay in one of the properties but if they are all rented we rent a studio for $100.00 a night, meanwhile the property is being rented for 450.00 -$500.00 per night. But for those whom it is not a business, they can go on as many holidays a year as they wish. All our properties have a large owners closet, so the future owners can keep all their personal possessions there when renting.
When it comes to prices, they have dropped somewhat with more new rental properties coming onto the market, however, we are still receiving up to $500.00 per night, the bottom rate is $275.00 per night in the lowest part of the season, which is summer. During February and March there are many wealthy people who come to the Island to fish, their crew bring the boats down and the owners fly out generally renting an Isla Mujeres luxury home so that they have somewhere to stay occasionally. Often they will only stay a few nights in the property, sometime coming back just to shower and change before going out to dinner.