Congratulations! This is an excellent way to have a vacation home, build equity for the future and set yourself up for major stress. Yes I said major stress. It is not all glitz and glamour! Trust me, it isn’t as easy at it sounds. Owning a Florida vacation rental property is not something to be done by those that are faint at heart. It isn’t as simple as purchasing a FL home or condo, furnishing it and booking rentals… That is the fun part of the process. You have property management, regular maintenance and the supervision of the property. I know many who start out renting their vacation home, only to decide to sell because it was too much work.
There is the management of the property that can be the stumbling block to a successful Florida Vacation Rental. I know because my son’s father does this on Marco Island. He has several homes that they manage and it a lot of work. They have it down to a science. Their website not only allows potential renters to see the houses they have for rent, but they can book on-line and the back end of the system manages the process for them. They also have had to rush down to Florida to handle issues that arise, and have gone through many property management companies before they had the right supervision on their homes.
They are the exception. Most people are not prepared for the realities of owning a vacation rental home in Florida. If you would like more information on purchasing a vacation home in Florida and renting it out, please give me a call. I would be happy to assist you in finding the right resources so you can be successful!
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