Maintenance of Vacation Property in Florida???

[lavender]

The problem with trying to make any kind of rental out of a condo you want to use in winter yourselves is that you are unlikely to find anyone much to rent out of our high season. If this is a condo community you must be careful of some of these issues
l. some dont allow rentals until up to two years after ownership commences
2. some dont allow rentals less than 90 days - and you have little chance of finding one of those out of season
3. some dont allow rentals period.

[071402]

Originally Posted by lavender

The problem with trying to make any kind of rental out of a condo you want to use in winter yourselves is that you are unlikely to find anyone much to rent out of our high season. If this is a condo community you must be careful of some of these issues
l. some dont allow rentals until up to two years after ownership commences
2. some dont allow rentals less than 90 days - and you have little chance of finding one of those out of season
3. some dont allow rentals period.

I don't know re; the first part of this... We've been renting in the area as well as Palm Beach Gardens in the summer months FOR YEARS. years.

Each year is tougher and tougher to find. Beaches are not empty in the summers as they once were. People are realizing I think that Florida is great int eh summer as well. (and WE agree).

[taurus430]

Originally Posted by dnc19694339

If I bought, could I rent it out for the other 8 months and come out on top?

As lavender pointed out above, there are time factors to rent out a condo, if allowed at all. Some you have to own 2 yrs before renting and for not less than 3-4 months. This can be good as the community doesn't want a big turn over of renters, the place gets run down.

[taurus430]

Originally Posted by lavender

Having been an owner of rental property from afar (Europe) and now locally, I have to say both have their problems.
I have just sold a home to a buyer in a single family home in an over 55 community, super set up, close to beaches, non flood zone, am thinking I might buy one in the future for us! Pretty secure, lots of year round neighbors, well kept, no lawn to worry about, its in fees and your own garage and front door, no shared walls etc.

What is the location of this? Do you pay fees for ground maintenance?

[taurus430]

Just to let you know, I just returned from a 2 week trip to Clearwater Beach. We rented a condo on the bayside. We drove from NJ, 2 nights down, 1 night return. The drive was not bad at all, just traffic in VA from construction.

We visited my Brother in New Port Richey, Seven Springs, on the golf course. Very nice area, good buys, and still considering on buying after seeing his condo and the area. I do prefer being on the water but just can't afford that. Just wondering reading through this thread now in June, what you guys are up to.

[dave w]

This thread was /is one of the more interesting ones I've read

[lavender]

Sorry taurus430 I only just saw this after months! It is Tamarac by the Gulf - the prices have taken a hike lately, amazing upturn but they are still available and changing hands quite a bit just now as snowbirds return. I keep an eye on these as the lady I helped buy likes to hear the news and see her property value increasing

[cupper3]

Just a quick comment on insurance.

My condo HOA has flood insurance with $1,000,000 deductible (they have most of that in reserves). I am on the second floor. I did the math... if nothing happens in 10 years, I would break even between the extra flood insurance I would need to cover the inside of my condo and me renovating it myself (I have renovated 100 year old houses, so that is not an issue).

As such, I carry no insurance on the condo. I'll take my chances that there will be no flood or fire in that time period. The situation works for me, YMMV. I'm going on into my third year; so far so good.