[DvlsAdvc8]

Anyone have any experience renting out a vacation condo or house?


I'm looking into buying a vacation condo in Gulf Shores and trying to get a rough idea of the costs involved renting it out most of the year, like property management and what not, before I start making a bunch of calls.


Thanks in advance.

[Southlander]

Originally Posted by DvlsAdvc8

Anyone have any experience renting out a vacation condo or house?
I'm looking into buying a vacation condo in Gulf Shores and trying to get a rough idea of the costs involved renting it out most of the year, like property management and what not, before I start making a bunch of calls.
Thanks in advance.

I don't own a condo, but have friends who do.
One of the expenses....after hurricanes, you may be assessed for repairing common areas such as parking lot/deck, pool and recreation areas, lobby, etc. Yes, there's insurance, but of course the cost of repair usually exceeds the coverage.
One friend was assessed $10,000 after a recent hurricane...per condo.

[DvlsAdvc8]

Good to know! Thanks!

[GreggT]

Originally Posted by DvlsAdvc8

Anyone have any experience renting out a vacation condo or house?


I'm looking into buying a vacation condo in Gulf Shores and trying to get a rough idea of the costs involved renting it out most of the year, like property management and what not, before I start making a bunch of calls.


Thanks in advance.

We have rented ours out since 2008, If you expect to at least break even, two things, either one will put you into the negative, both will drown you.
A, If you have to finance it, no way will you cover all your expenses and your mortgage too.
B, If you have to hire a property management company, forget even breaking even. By the time they take their 25% to 45%, charge a fee plus margin for every little issue, not vet any of, now THEIR guests where their concern is quantity not quality of the guests, no way will you ever see the light of day and your VR will turn into a shambles.

If you can pay for it, self manage, you can make a nice little rate of return on your investment, if you have to do A or B above, forget it!