Answer
ROI of 6% to 9% is often cited as a benchmark for real estate in Uruguay. This is not a guaranteed return, but a range that needs to be recalculated for a specific property, neighborhood, seasonality, and the owner's expenses.
The net result depends on vacancy, commissions, taxes, repairs, furniture, management, and building rules. For a seasonal property, you cannot multiply the peak January rate by the entire year: income comes from the actual months of occupancy, while expenses continue during vacant periods.
Before buying a property to rent out, it is worth making a conservative calculation that includes several months of vacancy and major repairs. If the project is no longer viable under this scenario, the stated 6-9% does not compensate for the risk. It makes sense to assess yield based on the full cost of ownership, rather than on the rental rate.