housey

Even though my family and I are probably heading back to the UK in the near future (immigration issue, blah blah...) we are interested in buying a holiday home for ourselves in Florida, with the hope of generating income as an added extra.

I've heard that there is a surplus of rental properties being a big problem. Has anyone any advice re locations, services, management,anything else of interest?

Thinking of Orlando/Tampa due to direct flight accessability.

Thanks!

Housey

Ray

Orlando is certainly well stocked with rental homes and with more people falling for the sales patter every day .. it will all crash one day .. but in other areas ..you could well cover your expenses. Prices are going up at a fair lick at the moment

yorkshirelass

I do believe there is a trend, at least amongst the Brits that I know, to get away from the whole Orlando tourist trap. People I know are coming and visiting the real Florida, so you may want to look away from that area.

Also, make sure that you check each individual county's short term lease policies. I know in the county that I live in, you can't lease a home for less than 3 months and if you are looking to turn a profit on weekly holiday rentals, it won't happen here.

Good luck!

Ray

Three months... Wow!!! what county is that ...

yorkshirelass

I know -- it's Hernando county! Figures, right!!

Taffyles

Some Homeowner Associations won't allow short term leases either, regardless of county regs. Ours will only allow you to let your house no more than once a year- cuts out holiday rentals.
So that's something to bear in mind when looking for property- if its in a subdivision check the HOA's bible of rules and regs.

Ray

Hey !! you are one county up from me.. a correction though..both counties have the same policy in regard to new short term rental properties:

Letting Rules

Never let for less than 6 days.

Three times per year for periods of less than 30 days or one calendar month (whichever is shorter).

Unlimited lets of 30 days or more.

But as Taffyles say's your HOA may have different rules

housey

To all.....

Thanks for the very useful info - obviously need to do my research very thoroughly before jumping into a costly committment!

Housey