Siesta Key Gulf side condos

[pdm_ad]

Originally Posted by SoFLGal

I know you've been on the board for a while. It's good to see you found something that works for you. Congrats!

I've seen a lot more people gravitating to the do it yourself type of sites. Since I live in town I manage my own rentals but when I visit places out of state, I always use VRBO and it's been great.

I totally agree that there are huge variables to take into consideration when factoring in return on investment.

I would say that the OP would just need to make sure they have someone checking for damages after each tenant. I'm curious as to how you handle getting the place check out in between tenants. Are you here? Or do you hire that out to a company? I know some of these rental companies have an a-la-carte type service where you can pick the services you want.

For me, 20% would be too much to give up out of my investment. Just my opinion though.

Hi SoFLGal, yes we found a great little place and it has worked out for everyone in the family that now gets to enjoy it. Thanks for the advice that you gave when I was making the purchase back in 2011.

I am not in SRQ but the company that we will use has contacts for every service you could need at your condo including plumbers, electricians, general handymen and cleaners. The cleaners are responsible for cleaning (obviously), going over the inventory as well as checking for damages. If you are not able to get to your property frequently then maybe you could have the cleaning crew email a few pics after each cleaning for piece of mind.

The unit in front of ours that I described earlier uses this company and aside from a few missing towels everything has been great. They are constantly rented and I know they are happy with VRBO and the traffic they get on their page.

[Ladywithafan]

I work on a key island at a condominium in Sarasota that rents weekly (7 night minimum). We're booked solid 90% of the year. The weekly rentals take a big toll on year round owners. The property is an association as well which means there are many rules for guests and owners alike. Turning a profit all depends on the owner's amount of debt to mortgage ratio. I'd advise thoroughly checking any potential condo for profit purchase with a fine tooth comb.

Guests are not kind to the condos they are using. They sneak people in, check in late to avoid extra person charges, never register, hog chairs, trash the property ~ I think you get the drift ~ tourists is are like fish...

[neildiamond11790]

Our last trip we stayed at Siesta Dunes, previously we usually stay at Midnight Cove. I like both these places, and really liked Siesta Dunes. We went late spring, property is clean, met some nice folks (2 that resided year round), nice beach space, spread out common areas, nice sized heated pool, 2 grilling areas (one on a large deck near the beach). The unit we rented was clean, pretty big for a 2 bed, nice closet space (perhaps too big for a rental unit, would rather have larger 2nd bedroom instead of walk in closet), decent kitchen. My parents had the next unit over and theirs was gorgeously updated, bright and airy. We spoke with one of the year round owners who lived there and the hoa's were pretty high because they had basically pavered the entire property. But I would expect those to come down since the project was done or near done. They have an onsite property manager who arranges everything.

Not overly worried about damage caused by guests, I think if decorated properly, furnished properly, dining materials chosen wisely I wouldn't be so worried about damage. I have seen some rentals that are just overly decorated, just begging for stuff to break. There were 2 closets with locks on them that were the owners stuff, so I guess you can keep your sundays best china in there when renting.

I like the idea of weekly/2 week/monthly rentals. Yes their will be vacancies, but I think people who tend to stay longer take better care of places as they are almost living there. The daily rentals seem likely to bring more crashers looking for a fun weekend.

Like I said no mortgage. So I think basically 1 week rental per month is kind of the break even point against taxes/common charges/etc. So if I can make $1-2K per month, and my family gets to use it parts of the year, sounds like a win win.

[Ladywithafan]

Originally Posted by neildiamond11790

Our last trip we stayed at Siesta Dunes, previously we usually stay at Midnight Cove. I like both these places, and really liked Siesta Dunes. We went late spring, property is clean, met some nice folks (2 that resided year round), nice beach space, spread out common areas, nice sized heated pool, 2 grilling areas (one on a large deck near the beach). The unit we rented was clean, pretty big for a 2 bed, nice closet space (perhaps too big for a rental unit, would rather have larger 2nd bedroom instead of walk in closet), decent kitchen. My parents had the next unit over and theirs was gorgeously updated, bright and airy. We spoke with one of the year round owners who lived there and the hoa's were pretty high because they had basically pavered the entire property. But I would expect those to come down since the project was done or near done. They have an onsite property manager who arranges everything.

Not overly worried about damage caused by guests, I think if decorated properly, furnished properly, dining materials chosen wisely I wouldn't be so worried about damage. I have seen some rentals that are just overly decorated, just begging for stuff to break. There were 2 closets with locks on them that were the owners stuff, so I guess you can keep your sundays best china in there when renting.

I like the idea of weekly/2 week/monthly rentals. Yes their will be vacancies, but I think people who tend to stay longer take better care of places as they are almost living there. The daily rentals seem likely to bring more crashers looking for a fun weekend.

Like I said no mortgage. So I think basically 1 week rental per month is kind of the break even point against taxes/common charges/etc. So if I can make $1-2K per month, and my family gets to use it parts of the year, sounds like a win win.

I think Midnight Cove has the 2 week minimum only during spring break; the rest of the year they rent weekly?!