buying property in florida question

[Netty]

Hi
I wonder if anyone can help.
My sister is going over to florida on saturday, to look at condo's. They have got appointments with a couple of realtors.
They have done alot of research , but they still have outstanding questions to ask. I wondered if any property owners on this board would be able to help her possibly by emailing her or for her to phone you.
Thanks
Jeanette

 

[vernon]

They're welcome to email me. I did find this website that may help them if they find their own place. You have to have a realator if you're buying a new place, but it seems this company with give you a cash back of 2% which seems worthwhile using them as there really is nothing for the companies to do in a lot of situatioms, other than pick up their commission.
http://www.newhomesorlandobuilder.com/

 

[JANNYANS]

She is also welcome to e-mail me and i will amswer her questions

 

[T16GEM]

Hi there I am interested in knowing what owning a property is like too as my DH is currently looking into buying a villa there.

Questions:

1. Are there any quiet periods when it is hard to rent the villa?
2. What kind of management company do people use and what do they include for? Bills, exterior pool etc and what commisions do they take?
3. How do you go about getting the place cleaned etc
4. Have you ever had any problems with the house being damaged or things being stolen etc?
5.We are thinking of buying a condo in a development, do these rent easily? or is a villa best?

Any other information that you have is also much appreciated.

Thanks
Gems

 

[vernon]

To answer T16GEM

1) yes
2+3) I used Premier Vacation homes, they were very well organised and detailed all expences. They dealt with all maintenance of pools,home and cleaning.
4)I got my pool pump nicked after I'd put the house up for sale, the same day as the house got broken into and the guests had their person effects stolen ( but nothing valuable from the house) IMHO it was a bogus insurance claim by the guests and the pool pump was either placed in another home managed by the contracted pool company or didn't move from my house and I got charged for it. No way one can ever tell from the UK, you just gotta pay your money and take your chances.
5) I think villas are easier to rent, comparitively Condos earn a better rate of return per week, but rent less often.

 

[T16GEM]

Thanks for that.

What kind of money can we expect to pay in bills for a 3 bed villa? i.e electricity cable tv etc?

 

[foxyfee]

To also answer T16GEM

1. - Plenty of them - please don't believe these "guaranteed rentals" we had one, wasn't worth the paper it was written on! You do learn the hard way.

2. We are now on our third company in 4½ years, and we have gone for a company that don't do rentals this time. First 1 took about 40%, second one 10-15%. You pay full taxes etc on whole amount though - in Osceola Country that is 12%.

3. Small things so far - flannels, pillow cases - these get used as laundry bags at end of stay so not worth paying for expensive matching sets.

4. I think a villa will rent out best, although there is a huge untapped american market that prefer a condo because they like mixing with people more plus some of the newer communities offer wonderful facillities - but your HOA costs would be monthly what we pay annually ($2 - 300!)

Hope this helps and will be happy to answer any questions.

 

[benny2bunny]

Hi,

We have a home in florida on Indian Creek, e-mail me and I will send you a link.

Whilst it is the best thing we have ever done we went in with rose tinted glasses and despite the research we carried out there was many unseen bill, it hasn't been as easy as we had imagined and we are forever putting our hand in our pocket, all I would say is while it is an investment, the investment is in the building, don't do it if you think there is vast amounts of money to be made out of it.

I am happy to answer any questions you have, and can put you in touch with a great realtor, if you wish he will also be able to tell you the pro's and con's and often offer the best service.

Regards

 

[T16GEM]

Thanks benny2bunny i have pm'd you.