Moving To Florida - Questions On Renting A Home (Wellington: sale, real estate)

[anthonyfromMA]

Within the next year my company will be relocating our primary operations center to Florida. We presently reside in CT, so this is a pretty big move.

My wife and I would be looking to rent a home (not an apartment, not a condo) and had some questions we were hoping someone could help us with:



1. Aside from the rental cost, what other fees should we be prepared to absorb each month when renting a home (i.e. HOA fees, any insurance costs required, etc). Obviously we're familiar with utilities. It will certainly be nice not having to buy oil for heating, this winter was dreadful up north.


2. How do we go about obtaining a property when we're roughly 1300 miles away? I assume we'd need to connect with a realtor that handles rental homes? Can we do this all over the phone and online or do we need to fly down at some point prior to moving to get things set?

3. Please do not suggest we purchase a home, that is further down the road for us at this time

4. Seriously, don't suggest buying a home, I know some of you probably can't help it, but we really want input specifically on renting a home for the time being, thank you!

[wizrap]

Future Welcome to South Florida! My answers to your questions. . .
1. The homes for rent in my development factor in the HOA/yard maintenance fee/homeowner's insurance/pest services etc. when they advertise the rent price. I believe this is pretty much the norm. You will want to look into purchasing renter's insurance (to insurance the contents of the home). In some places, basic cable is included but if you need a more advanced package (such as high speed internet, premium channels, etc.) you'll want to factor in extra money for that. And you're correct, water/electric also would be your responsibility.

2. I am not a realtor but I am friends with a couple but I understand that it is not unusual sending video tours of homes and taking room measurements clients who want to move into the area; South Florida has a huge South American and Caribbean population and many of these people don't have time to spend day after day looking for a home because they don't live here. One realtor told me a client bought a house based strictly on her video reports. However, you want to rent, and the commission on rentals is not anywhere near the commission on the sale of a home -- so I don't know how easy it would be for you to request the same type of service. Maybe check with a realtor that considers themselves a relocation specialist? Especially if there are several other families involved in this corporate move -- it might make sense for a realtor to be devoted to your company and help everyone involved in the move.

3. I agree, do not purchase right now. Rent for a year or so, and get a feel for the area.

4. I think you're doing the smart thing --rent for now, then see where you want to settle down. Although prices down here are still inching up, buying has slowed. We also have an interesting trend down here -- South Florida apparently leads the nation in cash buyers for homes despite this lackluster economy. Cash buyers don't stick around forever, and if prices continue to go up, they'll start to go elsewhere, and then you'll see prices start to go down again (IMHO).

Good luck!

[FLSkater]

I rent out our home in Wellington. I've based the monthly rent on including HOA, lawn service, pest control, pool service. I do this so that the renter doesn't have to worry about it, and I don't have to worry about whether the tenant is keeping the grass mowed and pool clean. The renter pays electric, gas, water, sewer, anything more than basic cable, renter's insurance. Trash collection is part of our real estate taxes, so that is already factored into the rent price.

Depending on the rental, you may have HOA application fees and security deposits, normal security deposit, pet deposits if applicable, first/last month's rent, background check fee.

Definitely find a realtor to help you, one that specializes in the area you're looking at. You should find someone who knows the area well and deals with renters, not just buyers. As the landlord, I pay the realtor's fees for finding the tenants. My realtor told me that one of her associates has a long distance client who trusts him enough to look at the place and make the decision for her!

If you're not familiar with the area at all, I would try to come down for a weekend just to get the lay of the land. We did that when we moved from NJ to FL.

Good luck to you!

[cfbs2691]

I'd suggest checking out rentals on realtor.com.
They usually list all costs involved.

As I'm sure you're aware - the photos on any website can be extremely misleading.

DEFINITELY come down for at least a long weekend to see things yourself prior to signing/committing to anything.

Best of luck!

[anthonyfromMA]

Thank you all for the helpful advice!

[071402]

Originally Posted by anthonyfromMA

Within the next year my company will be relocating our primary operations center to Florida. We presently reside in CT, so this is a pretty big move.

My wife and I would be looking to rent a home (not an apartment, not a condo) and had some questions we were hoping someone could help us with:



1. Aside from the rental cost, what other fees should we be prepared to absorb each month when renting a home (i.e. HOA fees, any insurance costs required, etc). Obviously we're familiar with utilities. It will certainly be nice not having to buy oil for heating, this winter was dreadful up north.


2. How do we go about obtaining a property when we're roughly 1300 miles away? I assume we'd need to connect with a realtor that handles rental homes? Can we do this all over the phone and online or do we need to fly down at some point prior to moving to get things set?

3. Please do not suggest we purchase a home, that is further down the road for us at this time

4. Seriously, don't suggest buying a home, I know some of you probably can't help it, but we really want input specifically on renting a home for the time being, thank you!

WE did this from NYC and I did a HUGE amount of research a year in advance. I checked all the maps, school ratings, reviews of properties , reviews of BROKERS (yelp), all kinds of statistics before we even visited for a week. A huge help. Ask everyone you know who has parents or relatives if not living there themselves. Happy to pass it forward. DM me if you like.

[BAJAN246]

Originally Posted by anthonyfromMA

Within the next year my company will be relocating our primary operations center to Florida. We presently reside in CT, so this is a pretty big move.

My wife and I would be looking to rent a home (not an apartment, not a condo) and had some questions we were hoping someone could help us with:



1. Aside from the rental cost, what other fees should we be prepared to absorb each month when renting a home (i.e. HOA fees, any insurance costs required, etc). Obviously we're familiar with utilities. It will certainly be nice not having to buy oil for heating, this winter was dreadful up north.


2. How do we go about obtaining a property when we're roughly 1300 miles away? I assume we'd need to connect with a realtor that handles rental homes? Can we do this all over the phone and online or do we need to fly down at some point prior to moving to get things set?

3. Please do not suggest we purchase a home, that is further down the road for us at this time

4. Seriously, don't suggest buying a home, I know some of you probably can't help it, but we really want input specifically on renting a home for the time being, thank you!

Do you know where the company Florida location will be? If so, start by looking in that area first. Check the online newspapers for that area to see what's going on there. Apartment buildings in florida are well kept and provide free parking for tenants. The maintenance fee are built in to the rent so is some basic cable. The only monthly cost will be your light(FPl),house phone, mainly (comcast cable or Att)package deal which will give you a house phone,internet & cable.Plus food, car insurance & gas for your cars. keep in mind that florida cost of living is lower that up north. so with a good paying job, things would not be as expensive as the north. Did i mention we have great weather too?