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Old 05-09-2015, 09:40 AM
 
Location: Phoenix, AZ > Raleigh, NC
15,066 posts, read 18,990,908 times
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We were considering getting a seasonal rental in Florida for next winter. Then we looked at the prices for those rentals!

So it got me wondering: Does anybody rent a house or a condo or an apartment on an annual lease, buy some cheap furniture, then use it primarily for the winter months? Doing the numbers, this conceivably be cheaper than just renting a seasonal furnished place for 3-4 months. And would allow us to use it during the summer/off-season if we wanted.

Thoughts?
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Old 05-09-2015, 09:51 AM
 
Location: MMU->ABE->ATL->ASH
9,123 posts, read 17,125,688 times
Reputation: 9979
Don't forget to count in all the "Holding" costs,

Power, Gas... Even if you are not there, will run you Service Fees, and minimal Heating/Cooling cost even if you keep the Temp's low/high.

Water/Sewer, normally have Service / Minimum usage fees.

Cable/Internet (Phone) turn on/off fees.

HOA dues

Home Owner Ins, Rate will be higher if you are not there most of the time, Most Ins Companies conceder it a vacant rate if you are gone more then two or three months.

Cost of all the extra stuff you have to buy to stay there, If you are there for months at a time do, you really want cheap furniture?

If something goes wrong, who is Local to handle it, Are you willing to Jump on a plane next day to fly down and handle it. If a hurricane is a brewing, who will put up the "storm" gear to protect/Secure it, who will check on it after the storm?
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Old 05-09-2015, 10:11 AM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
22,537 posts, read 39,914,033 times
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I have retired friends that rent annually in Utah Ski area. ~ $400 . month

Another friend on Vancouver Island that has 2400 SF apartment above his shop that is rented annually to traveling retirees. $400 / month.

I keep places in PNW, CO, TX hill country.
all are rented for positive cash flow and have a place for me (free).

Florida is not on my radar. Many properties would work for PT living and FT rental / lease.

In over 30 yrs of 'long distant' rentals (including commercial buildings), I have never had to 'jump on the plane' to solve a problem. but... it is nice to deduct the frequent travel (and 50% of food) between desirable destinations. (within IRS rules).

My tenants are generally very happy and stay up to 10 yrs. They get a 'rebate' if they are never late on rents, and don't bother me with the minor details... (they have a list of repair people). Actually last week I had a 'drain issue' 2500 miles away. it cost me $110. It was the 3rd item in the last 24 months. (all plumbing in SFR BTW). I lived in Thailand last yr and didn't get bothered by USA tenants. Direct deposit helps me to stay on the beach!

I recently got a 'tall-boy' lazy boy recliner ($8) for one of my 'cabins', It is nicer than most my furniture. We love finding regional antique furniture to fill cabin / apartment needs. It is NOT cheap to keep extra properties, and by age 80, they will all be sold on contract (for regular income).
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Old 05-09-2015, 11:30 AM
 
2,447 posts, read 2,097,795 times
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I haven't but I think that while it might cost you what seems to be more to rent it for a season than to have it through the year, the key point is as a renter you have no responsibility- especially when you are not there to maintain it or arrange for someone to come by and check on it etc. I know my parents who have been deceased for many years, initially did rent for a season (or several months) for probably about 5 years. Eventually they decided to buy, but it made perfect sense to them to not have any headaches. I think what pushed them a bit to buy was that it was becoming harder to find rentals when they wanted it (ahead of time) etc.
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Old 05-10-2015, 04:47 AM
 
Location: Florida
19,784 posts, read 19,880,941 times
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We rented for 5 years and then bought.
The big difference in the op's scenario is that we had graduated to staying for 6 months before deciding it was worth buying rather than renting.
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Old 05-10-2015, 05:29 AM
 
Location: Near a river
16,042 posts, read 18,967,079 times
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Quote:
Originally Posted by Jkgourmet View Post
We were considering getting a seasonal rental in Florida for next winter. Then we looked at the prices for those rentals!

Thoughts?
Rents are only going to get worse after last winter. My sisters and a few others I know can't find a decent rental (for next Jan-March) in their preferred Florida spots now, and they can pay in higher ranges. I would bet that those renting in FL this past winter locked in for next winter right away without batting an eye.
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Old 05-10-2015, 05:32 AM
 
4,343 posts, read 6,053,473 times
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This is something we've thought about, JK. It will cost us $7,000 next winter for just 8 weeks. I wish we could find an annual rental for $1,000 or less/mo. Only thing is we'd want to rent from a management company and not be at the whim of an individual.
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Old 05-10-2015, 05:37 AM
 
4,343 posts, read 6,053,473 times
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Quote:
Originally Posted by newenglandgirl View Post
Rents are only going to get worse after last winter. My sisters and a few others I know can't find a decent rental (for next Jan-March) in their preferred Florida spots now, and they can pay in higher ranges. I would bet that those renting in FL this past winter locked in for next winter right away without batting an eye.
We secured our rental for next winter before we left Florida to come home. Tell your sister to wait. Owners get desperate when their place is still vacant and winter draws near. They start lowering the price and throwing in days. But the OP is asking about year round rentals, unfurnished. Those rent for pretty cheap money.
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Old 05-10-2015, 08:18 AM
 
Location: UpstateNY
8,612 posts, read 8,295,877 times
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Retirement Village Mobile Home

55+ RV & MOBILE HOME COMMUNITY

http://ocala.craigslist.org/sub/5005732560.html

HTH
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Old 05-10-2015, 08:42 AM
 
Location: Florida
19,784 posts, read 19,880,941 times
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Quote:
Originally Posted by ipoetry View Post
This is something we've thought about, JK. It will cost us $7,000 next winter for just 8 weeks. I wish we could find an annual rental for $1,000 or less/mo. Only thing is we'd want to rent from a management company and not be at the whim of an individual.
I just took a very quick look and find quite a bit of yearly rentals, both condos and single family houses in and under that number.
Obviously, it depends on the location and the overall 'quality' of the housing.
You won't get a 3 BR oceanfront penthouse but yearly rentals are much , much lower than short term vacation, fully furnished rentals
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