Renting a home- why the huge price differences?

[iheartdisney]

Hi all! This is our first trip renting a home offsite, and this area of the board has been super-helpful thus far!
We have narrowed down the dates, area, the amenities, etc. and have started getting offers in!
So here is my quandary- why are there such huge differences in prices? I know the old saying, "you get what you pay for" so I am concerned! lol! Not to mention I read all the way through the wack-a-doodle "rental homeowner turned internet stalker" thread, and would like to avoid that as much as possible!
Some 5 bedroom houses with a private pool are going for the same rate as a 3 bedroom condo in the same neighborhood. Also, some websites/ management companies the prices seem so much higher than others.

One more question if i can tack it on- other than taxes and cleaning, what other fees do I need to be aware of and ask the homeowner about?

Thanks again for all of the help!

 

[daytondisney]

Hi all! This is our first trip renting a home offsite, and this area of the board has been super-helpful thus far!
We have narrowed down the dates, area, the amenities, etc. and have started getting offers in!
So here is my quandary- why are there such huge differences in prices? I know the old saying, "you get what you pay for" so I am concerned! lol! Not to mention I read all the way through the wack-a-doodle "rental homeowner turned internet stalker" thread, and would like to avoid that as much as possible!
Some 5 bedroom houses with a private pool are going for the same rate as a 3 bedroom condo in the same neighborhood. Also, some websites/ management companies the prices seem so much higher than others.

One more question if i can tack it on- other than taxes and cleaning, what other fees do I need to be aware of and ask the homeowner about?

Thanks again for all of the help!

You hit on the most obvious.

But in my opinion, owners have vastly different methods for valuation of their properties. Some seek to get the most they can for a week's stay to hedge against slow periods. Others would rather take less and count on a higher occupancy rate. Some are older and more secure in their finances, and value your satisfaction.

I look for a unit that: appeals to me aesthetically, is where I want to be, and rents consistently. Next, I like an owner that personally and promptly responds to emails. Management companies just add cost with not much value.

Lastly, dealing with an individual leaves open possibility of negotiation.

 

[shalom]

But in my opinion, owners have vastly different methods for valuation of their properties.

Risk level also applies. People who've been renting for a while and have a pool of satisfied customers can kick up their prices a bit, because so many people will pay more to deal with someone they know. Brokers also charge more, first because they build up clientele, but also because theoretically the broker has your back if the owner turns out to be an idiot.

 

[KaraLyn]

Another cost to be aware of is the pool and spa heat. If your fortunate some owners will add the cost in to the overall rental of the property. For the most part it can cost anywhere from $20-30 per day. It depends of course on what time of year you plan to visit...if you visit between November-April I would pay to have the pool and spa heated. Nothing better than having a dip in the pool or lounge in the hot tub after a long day at the parks

 

[mguedes]

Some owners also charge credit card fees which can be as much as 4%.

 

[iheartdisney]

Another cost to be aware of is the pool and spa heat. If your fortunate some owners will add the cost in to the overall rental of the property. For the most part it can cost anywhere from $20-30 per day. It depends of course on what time of year you plan to visit...if you visit between November-April I would pay to have the pool and spa heated. Nothing better than having a dip in the pool or lounge in the hot tub after a long day at the parks

We won't need the pool heat in July, will we? I figure mother nature should warm it quite nicely.

 

[GlenR]

A lot has to do with the market and when the owner entered it. We rented a 4 bedroom in Windsor Hills this last spring for what seemed like well under market, but when I looked on Zillow I saw the owners bought it out of foreclosure last year. With that in mind the new owners that bought the home for $313,000 can charge me a lot less for the same property than the original owner that paid $439,000.

 

[spiceycat]

not only is what people invested in their properties different

where the property is located - davenport & clermont should be less than Kissimmee. Kissimmee is closer and location is a big plus. Windermere also demands more money.

for the condo & house = the condo may have more stuff - pools, tennis courts, basketball (for some reason this is hard to find in Florida), lake, activity center, make even renting boats - that the house does not.

just depends.

 

[Rpsemont]

Which thread is this?

rental homeowner turned internet stalker" thread

I think I need to read that one.

TIA

 

[Gina-Gina-Bo-Bina]

Which thread is this?

I think I need to read that one.

TIA

This one:

http://www.disboards.com/showthread.php?t=3008148

 

[MinnieLovesMickey12]

This one:

http://www.disboards.com/showthread.php?t=3008148

WOW! I just went and read that whole thread. That is wacky!

 

[Ametista]

You will NOT need pool heat in July.

The price difference? Some owners would rather get "anything" than nothing, even if it means more wear and tear on their furniture/etc. Some would rather rent it less frequently and get top dollar.

 

[Sprockie]

The varying prices is enough to drive you a little crazy. I have a lot of respect for an owner who offers a nice property with good reviews at a fair price - at the very first contact. I quickly delete those who come back with way higher prices than the others. Sometimes they are the ones who contact me again to see if I am interested. I guess it's a learning curve for some owners, but I would rather have a well rented unit (if that's my goal) than to be half empty and hold out in hopes of higher paying renters.
Pool heat can add a huge cost. I would love to know the real cost of heating a pool is per day. I swear I could heat a pool up here in the Great White North for $25-$30/day in winter - which is what some owners would like to charge.

 

[JANNYANS]

Most owners charge a rate that will not only cover their overheads but also allow them to build up a back up fund for when things go wrong-what if the aircon breaks down in August or the pool heater in november and the owner can't afford to have it repaired straight away -then not only does the guest lose out but so does the owner as they will more than likely end up having to compensate the guests at a higher rate than they would if they can afford to get things fixed asap.
The best thing is to set yourself a budget and try to find a home that fits it and suits your requirements -there are plenty out there it's just a case of looking and maybe being a little flexible .

 

[cash]

It all depends on Location, Location, Location. The closer to Disney the higher the cost.
The comunity's close to Disney have a lot higher comunity charges as in Home Owner Fee's and other Fee's. This pays to keep that comunity in great shape. If you rented your home and made sure it is very well kept and Mr & Mrs Smiths next door or across the street just didnt bother with their home, would you rent your home out for the same cost as their's or at a higher cost?
What house you decide to go for, just check that their TAX's are all up todate

 

[iheartdisney]

Thanks everyone for the answers! We think we have found the perfect house for us!

It all depends on Location, Location, Location. The closer to Disney the higher the cost.
The comunity's close to Disney have a lot higher comunity charges as in Home Owner Fee's and other Fee's. This pays to keep that comunity in great shape. If you rented your home and made sure it is very well kept and Mr & Mrs Smiths next door or across the street just didnt bother with their home, would you rent your home out for the same cost as their's or at a higher cost?
What house you decide to go for, just check that their TAX's are all up todate

How do you do that?

 

[JANNYANS]

Being up to date on taxes means nothing as if there is a mortgage on the property the mortgage company will often pay them regardless of whether the owner is behind with payments.It is better to heck the county clerk of the courts site as this will show any liens or pending court cases against the owner .

 

[connorlevismom]

The varying prices is enough to drive you a little crazy. I have a lot of respect for an owner who offers a nice property with good reviews at a fair price - at the very first contact. I quickly delete those who come back with way higher prices than the others. Sometimes they are the ones who contact me again to see if I am interested. I guess it's a learning curve for some owners, but I would rather have a well rented unit (if that's my goal) than to be half empty and hold out in hopes of higher paying renters.
Pool heat can add a huge cost. I would love to know the real cost of heating a pool is per day. I swear I could heat a pool up here in the Great White North for $25-$30/day in winter - which is what some owners would like to charge.

I respectfully disagree with this. I would actually rather have my house rented less at higher prices, rather than more at lower prices. The amount of wear and tear on a house is extreme with rentals and it costs a lot to do so. More people = more wear and tear. Besides that, electricity and all the things that come along with people in your house. If you, as an owner, are not even getting enough to cover those people in your home for that week you decided to discount it, why rent it? Keep it empty and reduce the wear and tear? It actually costs less that way.

Most owners charge a rate that will not only cover their overheads but also allow them to build up a back up fund for when things go wrong-what if the aircon breaks down in August or the pool heater in november and the owner can't afford to have it repaired straight away -then not only does the guest lose out but so does the owner as they will more than likely end up having to compensate the guests at a higher rate than they would if they can afford to get things fixed asap.
The best thing is to set yourself a budget and try to find a home that fits it and suits your requirements -there are plenty out there it's just a case of looking and maybe being a little flexible .

Agreed

It all depends on Location, Location, Location. The closer to Disney the higher the cost.
The comunity's close to Disney have a lot higher comunity charges as in Home Owner Fee's and other Fee's. This pays to keep that comunity in great shape. If you rented your home and made sure it is very well kept and Mr & Mrs Smiths next door or across the street just didnt bother with their home, would you rent your home out for the same cost as their's or at a higher cost?
What house you decide to go for, just check that their TAX's are all up todate

Exactly right. If you have a superior house and provide superior customer service, you should get more than the people who have a dump and have no customer service. I am happy to pay for both of those things and not worry about what kind shape the house will be in when I show up.

I think that renters forget about all the things that owner has to pay for in order for them to have a fantastic home in a fantastic community. I am not an owner, but I know one and I know it costs a lot per month in just HOA fees!