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Old 04-21-2011, 08:19 AM
 
10 posts, read 84,619 times
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I am looking to buy a vacation property in Fort Lauderdale area that I can use as needed and rent out when I am not there. I would like to buy a condo but many do not allow weekly rentals. I am not considering condo hotels at this point because I am not sure I can make a profit on these because of the revenue sharing agreements and expensive fees. I would consider a town house or home but I want to ensure there are good property management companies out there. Does anyone out there have experience renting out vacation properties? If so can you give me some advice on the route you took and how it is working out.

Thanks
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Old 04-22-2011, 12:27 PM
 
Location: Deerfield Beach, Florida
22 posts, read 84,666 times
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Townhouse communities and their associations don't usually like the homeowners to rent out seasonally their properties. They don't want different kind of people coming in and out so often. Remember that any community or building that has an association, they have to approve all the tenants you decide to rent your property. A lot of associations are VERY picky, very complicated in approving people renting out properties and they take 2 to 3 weeks, sometimes a whole month just screening your prospective tenants, time that you won't be getting any money from rent.

But this doesn't mean is a bad idea, its a very good idea to buy a condo to rent it out seasonally. I would suggest to buy a condo close to the beach, those are rented SO fast and the buildings/associations close to the beach are more flexible for seasonal rentals. Remember that if you rent 6 months or less your property, you have to pay taxes for that (separately from real estate taxes). But an advantage of renting seasonally, is that you can ask more for rent than if it would be annually.

Moderator cut: no soliciting

Last edited by fauve; 04-22-2011 at 03:35 PM..
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