Melbourne Beach... Snow birds? (real estate, renters, condos)

[surfdog76]

We'll be retiring in MB in two years, from CA. We love to travel and ideally would be gone 3-6 months
of the year. Will be purchasing a lot and building a new house. Not familiar with 'snow birds', but
like the option of renting a separate section of the house for 3-6 months of the year when we're gone.
Assuming this is legal (haven't checked yet),

- What's the market for snow bird rentals in MB (1BR/BA)?

I planed to build a single-level home for us, but I could add a private second-story. Of course,
that means stairs... Would I have difficulty finding snow birds that don't mind stairs?

TIA

[Nypafl4u]

Avoid stairs if you are aiming at Snowbirds. They tend to be older renters and the potential to negotiate stairs will limit your pool of perspective tenants.
Invest in a hot tub (or pool). They will be more appreciated, but will take years to justify cost unless you plan to use it as well.
Snowbirds typically rent from November to March, sometimes earlier or stay later. I am not sure what your plans would be, but if you leave during those months, you will be staying in Florida for the uncomfortable hot months. No one will rent seasonally during the hot months.
Snowbirds generally like to be near a beach, within walking distance. Beach side condos or homes do better than something non beach side for seasonal rentals.
Be prepared to fork up an additional 11% (?) tax for rentals shorter than 6 months. It's a big deal in Brevard and is heavily advertised in your real estate tax bill envelope, to be a whistle blower, if you know someone is short term renting.
I used to like the idea of getting a home with an additional room or two with separate kitchen and bath for extra rental income or for myself to use when visiting. Just remember, utility bills can not be controlled easily if don't have seperate meters for electric and water (could lead to permit issues and possible complications).
Do your research, speak to several realtors that specialize in short term rentals and ask away as the added expense of building extra space may not justify the actual rent income.
Just my two cents, consider a pre-built side by side duplex, beach side. Rent half out as you please, legally. You will have seperate utilities and real privacy when occupied. You may find renting that half full time to a better and more consistant income producer that can help keep expenses at check.
Finally, I don't recommend renting a new home under any circumstance. I did this on my first go at investment property in 1990. I learned a lot. Tenants typically do not take care of your property as you would. Nothing is worse than damage to your brand new structure. It can drive the owner nuts and cause much anxiety, eventually wishing you never opened your place up in the first place.
I know a lot here sounds negative, but as mentioned I learned and am still learning the never ending nuances to owning rental properties. It can be a real money maker, in the right markets, but it is not for the he light hearted investor that doesn't have a couple of deep pockets in reserve to get you out of trouble when a major item fails (and something always fails...).

[Rabflmom]

Originally Posted by surfdog76

We'll be retiring in MB in two years, from CA. We love to travel and ideally would be gone 3-6 months
of the year. Will be purchasing a lot and building a new house. Not familiar with 'snow birds', but
like the option of renting a separate section of the house for 3-6 months of the year when we're gone.
Assuming this is legal (haven't checked yet),

- What's the market for snow bird rentals in MB (1BR/BA)?

I planed to build a single-level home for us, but I could add a private second-story. Of course,
that means stairs... Would I have difficulty finding snow birds that don't mind stairs?

TIA

Depends on where you are building for short term rentals. Not all areas allow it. Stick to a 1 story but have bedrooms for the snowbirds family and friends to come visit them. May rent to 2 but end up with 6-8+ staying there part of the time.

[cfbs2691]

Originally Posted by Rabflmom

May rent to 2 but end up with 6-8+ staying there part of the time.

Understand this is reallly how it works.


Some old neighbors had a 1000 sq ft townhouse they rented seasonally.
The rental agreement was always for (2) people, but there were always about 6-8 that actually stayed there.
Regardless of how much my neighbors screened people..

[BrevardREALTOR]

I would definitely avoid stairs. It would really limit your rental pool. A lot of areas have a 3 month rental minimum but it really varies from place to place. If you can find a place that allows Vacation Rentals By Owner you can make a lot more renting it out by the night. Beachside is by far easiest to rent but would be very costly to build. South Melbourne Beach would probably be best if you want to consider it though. Good luck & congratulations on retiring soon!