Short Term Rentals, PSL? (Holiday, Vero Beach: sales, real estate, apartment)

[dbay]

I'm thinking when I sell my home I will need a month or so to find
a new home, then it may be another or so until closing..Does anybody
know of a condo or firnished small place that may be available in the
future on a month to month basis..Ft. pierce/lakewood/ PSL the area...

[Lilybeans]

You can always check Nettles Island Realty. They have monthly rentals on the island.

[FlaLadyB]

You are coming on to season. Month to month rentals are going to be expensive, espcially furnished ones. Try some of the rental complexes and see if you can get a 7 month lease. IF you do MONTH TO MONTH you, by law, must also pay the "bed tax" for anything less than 6 months and a day. Some people may still rent to you for a couple of month a hope nobody catches them. I'm not one of those that is willing to lose my license.

[dbay]

What is a bed tax?

[justNancy]

Originally Posted by dbay

What is a bed tax?

I'm in Vero Beach (about 30 miles north of PSL) and the tax in Indian River County is 11%. So, in other words, I paid $995/month for rent for June and July and had to add $218.90 for the "bed tax" which is like a tourist tax. It's a State Law, but I'm not sure if the tax is different in other counties. Sales tax, for example, is 6% minimum by State Law, but it can be higher and is 7% where I'm living now.

The 11% tax is for any rental under 181 days and I agree with FlaLadyB. Some people will cheat, but most owners who pay tax on the rental income won't take a chance. For an agent to do that would be professional suicide.

When I signed a 6 month lease, my rent was lowered and the tax was waived but now that it's season, you'll have a tough time finding a short-term rental. For example, this place is $1,800 a month and has already been rented. (not by me!)

If you don't mind, tell me if you're over 55 and I can recommend some places that are safe and well managed in both PSL and Vero. I'm not saying the under 55 communities aren't safe, just that I don't know much about them! Also, keep in mind that the HOA might have a minimum 3 month rental. Many communities will charge $100 for a background check which is non-refundable.

Edit: I just checked and there are a few units renting for $1,400 and $1,600 (plus tax) a month, minimum 2 months. I haven't seen any 1 bedrooms, but I'm sure they're less. Also, keep in mind that nobody will rent a furnished condo or apartment without a security deposit.

[justNancy]

Originally Posted by dbay

I'm thinking when I sell my home I will need a month or so to find
a new home, then it may be another or so until closing..Does anybody
know of a condo or firnished small place that may be available in the
future on a month to month basis..Ft. pierce/lakewood/ PSL the area...

Sorry, just noticed you said "in the future." If you wait until April or May, you should have less trouble finding a rental, but most people still have a minimum of 2 or 3 months. I just went through that in June which is how I ended up here. It's a very, very long story. I passed up quite a few nice places, even a pool home for $700 (yes, I can't believe I didn't take it) but I didn't want to commit to 6 months because I've also been shopping for a house. I wish I could go back in time.

Still, even in the off-season, expect to pay over $1,000 a month which is still much better than the $99/night I paid at the Holiday Inn on the beach. (and that was with my AAA discount) What a dump!

[dbay]

Yeah, thanks for the info..I was just thinking that when( if) I sell my home I would rent short time
to give me the time I may need to check out all the homes available..but I hope I don't have too get
into that..Is 10 or so days long enough too find a new home ?...I don't know...Some people do it...

[justNancy]

Originally Posted by dbay

Is 10 or so days long enough too find a new home ?...I don't know...Some people do it...

Big question! Depends on you and your needs/requirements. Yes, you can find a home in 10 days or less. I was told by a real estate agent that I could actually complete the closing and be in a home in less than 10 days, but that's only if you're paying cash. Some people fly here and buy a house during a weekend visit.

I would live in an area for at least a few months and drive around to make sure I know I want to live there. However, you might feel differently. Just keep in mind that, although we all hope & pray the economy turns around soon and home values rise in the future, anything you purchase now should be a place you plan to stay in for a long time. There is a lot of inventory right now, although the most desirable homes seem to be selling quickly if priced competitively. The majority of homes I saw listed as active only a few months ago are now under contract.

[FlaLadyB]

I do have short term rentals available and the bed tax is still going to enter in to the price. 10 day rental? NO.....rent at one of the hotels that offer longer term stays. Short term here would actually mean a month, not a few days.

If you want to find a home in 10 days you could if you can decide on what you want and where without spending a half hour in each house just wandering around. IF you are a decision maker kind of person. Some people aren't and don't know how to mark a house off the list of acceptable and keep going. I try to give guidance in what you should want/need once I get to know you better and how you are already used to living. What is acceptable and what is not. The good, the bad and the ugly all go with it.

If you plan on financing you had better have already done your pre-qualification homework with a LOCAL lender or mortgage broker. That means tax returns, finances, etc. You will be expected to present it with any offer showing that you do have the means to close on a property. Same thing with cash- show me the money. All that takes time to get together but plan ahead on doing it and having it ready.

[dbay]

I know the area I will move too..I've done all I can do over the net..I have a relative in the area that
can make an inspection...I made a lot of mistakes when I bought my first and only home..I did not
know the area well enought and was not aware of septic and well water problems..flooding, high water
tables..( insects!)...The only unknown is bad neighbors!..I have had those problems also but nothing
you can do about that....never no who is going to move next door....I think that's been the worst problem I've had...Anyway...I would make an initial inspection of the home followed up by a profesional
inspection..try and determine if the neighborhood is ok...and settle on a closing date...Go home and head back for closing..Thats my plan so far....simple I guess...also pay cash from the sale of my current
place....