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Investing in a vacation rental property

Owning a home as a vacation rental in Florida can be a great investment. We know that there is a definite season in Florida to rent out a seasonal vacation home, most likely giving you at lest 4 to 6 months of rental income. It is important to research areas that have a high frequency of vacation rentals, as well as, making sure you know of any restrictions a community may have on renting your investment out as a vacation rental.

Whether you already live here in Florida or you live out of state and own a second home here in Florida, a vacation rental can be a great investment allowing your property to pay for itself. Obviously, location is important as many vacationers come to Florida to visit our beaches. Having a vacation rental within a close proximity to beaches is extremely desirable. Our biggest season in Florida is November to April, during the colder months in the northern states. With that said, it is very realistic to be able to rent the property out year-round as long as you do your research on the amounts of rent expected during the given time period that you plan on renting the property. It is also very important to make sure the home is fully equipped. This should include, but is not limited to; linens, dishes, internet, cable T.V., couches, beds, televisions, curtains, etc. The best way to think about it would be to think about what you would want in a home if you were going to rent a vacation rental and what amenities that would be desirable.

When researching your vacation rental, make sure to spend a fair amount of time on location to see if the community has any restrictions on frequency of renting as there are some communities that have stipulations and specific rules for tenants opposed to homeowners.

Owning a vacation rental can have its pros and cons but having everything you need to know can make it a lucrative and positive experience. Hiring a professional who has the experience with this type of investment, such as a Realtor or Property manager, would be a great idea to help you answer some of the questions you may have. Not sure where to start? Give the experts @ Siesta Title and Escrow a call at 941-889-7744 for more information on this topic or any other help during this process.

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