How's the market for purchasing a condo to use as a seasonal rental? (Fort Myers: rentals)

[Qbert1984]

Hello.

I was wondering how the market is doing Fort Myers for purchasing properties (such as a condo) that can be used as a vacation rental? I understand that there are many who go to Fort Myers for the winter and rent seasonally. How is the market for buying properties that can be used as seasonal rentals? What kinds of rent are charged for a seasonal rental, maybe a 2 bedroom? Any other towns in the area that are good for this?

[blueherons]

Originally Posted by Qbert1984

Hello.

I was wondering how the market is doing Fort Myers for purchasing properties (such as a condo) that can be used as a vacation rental? I understand that there are many who go to Fort Myers for the winter and rent seasonally. How is the market for buying properties that can be used as seasonal rentals? What kinds of rent are charged for a seasonal rental, maybe a 2 bedroom? Any other towns in the area that are good for this?

It all depends on the HOA and the building. Some do not allow rentals at all, some only allow long term rentals of 12 months or more, some allow short term rentals, some allow rentals after you owning for 24 months.

Find a good realtor, take a look at www.VRBO.com and other short term rental sites.

[Marc Middleton]

Originally Posted by blueherons

Find a good realtor, take a look at www.VRBO.com and other short term rental sites.

I second this! Many of our clients like to rent out during season to pay all the carrying costs for the year and then have a free place to stay during the summer when its not as busy and the nice golf courses are much cheaper.

If you're at the very beginning of your search, use sites like AirDna.co and mashvisor.com to evaluate potential short term rental/airbnb type properties. This way when you find an area you want to settle on, hire your realtor to start hitting the pavement to find the property fitting your ROI requirements.

[Qbert1984]

Thanks for the suggested websites.