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Tax incentives create an issue

  • As demand has arisen in Puerto Rico’s tourism sector, investors have been keen on the island’s short-term rentals.
  • For mainlanders, buying beach adjacent property seems like a deal, considering the tax benefits Puerto Rico offers.
  • Gentrification is taking its toll across the island, with rising existing home prices making it tougher for Puerto Rican residents to afford to buy homes.

Jennifer Márquez can spot a home renovation in Puerto Rico by an investor who’s not from the island right away.

“When you drive around, you see this,” she said. “You can tell when it’s a local person or an outsider.”

The giveaway is the style choices these investors make; the layout and finishes look nothing like the homes she grew up seeing in Puerto Rico.

It’s Marquez’s job to notice the details. Márquez, who was born and raised in Puerto Rico, is the founder of The Reserve LLC, a hospitality management company that among other things, manages vacation rental properties on the island. Her customers are property owners, both US mainlanders and locals.

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