Own a rental property in Florida?
 

Does anyone else here own a villa / rental property in Florida?

We have a place in Kissimmee and have been thinking about the costs of running the place.

Brighthouse (Cable / Phone / RoadRunner Internet) cost us $140 a month
Management Co. $170
Pool $85
Garden $50
Housekeeping $65 per clean

KUA (Water / Elec) was $500 a month for June - Aug last year!!!!!!
We installed internet controller on A/C in June this year and a new AC unit (cost $4K) - Costs this year for KUA June - Aug averaged at $140 a month!!!!!!

We have a notice in the villa to say not to turn the AC below 74F.
The guests in now have set it to 73F and put it on hold :razz:

They ARE regulars though so I may let them off even though it's gonna add ad least $20 to my bill.

If you ARE a villa owner I would totally recommend upgrading your AC to a new High Efficiency Unit and installing a WIFI controlled 3M Filtrete.

Also - Open to connecting with owners who would like to network on passing bookings that we / you can't accommodate.

Jods,

Out of interest, what type of occupancy levels are you getting out there. I've considered Florida for years but the costs have always put me off (I believe you wrote me a detailed pm a few years ago on the situation also)

Im interested in details of renting it ,pm me jods please

I did an air display at your local airfield a good few years ago. I was invited to a party that evening with my whole crew and most of the people there were dyed in the wool cowboys dancing in their sh*t kicking boots! It was a great evening.

Les :D

Also interested in details, we're planning 2 weeks out there next June for my partners dads 60th.

Hi Mamoon,

Occupancy as follows (days)

2003:216
2004:173
2005:179
2006:196
2007:162
2008:196
2009:169
2010:133
2011:126(booked so far)

PM's sent :)

Thanks :thumb:

PM me too i'm considering Florida next year

you have forgotten the sales tax and allowance towards your short term rental licence and occupational licence as required under florida law....in your monthly figures as it is all expenditure then you have the accountants fees for your yearly tax return....also youmay have a mortgage so that needs to be figured in your figures...if so..as it is an expense you have to cover monthly....

All true - All that on top as well

Just looking at the costs vs the income and we haven't cleared a profit yet. In fact it is a fairly significant drain on resources - we knew it would be close but reckoned on property prices going up to counter that :mad:

Should have sold in 2007 but hindsight is 20:20

Prices are seriously low now so it would be daft to sell - We may "MAY" look at buying another and punting it out to long term let for the forseeable in the hope prices recover.

we bought ours 3 bed 3 bath bungalow with pool on indian ridge from new in 1992 and over the first few years we just about broke even had some lovely holidays with the 2 lads when they were little, however we found after the first gulf war things went a little queit then after the 2nd it definitely quietened down even though my cousin who lives out there and has a rental company tried to get bookings then we had the roof ripped off in 2005 by a hurricaine the insurance money for loss of rent kept us going for about 5 months after the repairs then security fees started being added to flight costs and we struggled on with only a smallish mortgage monthly payment was around 340 dollars but the escrow taxes wacked it up to over 700 a month in 2007 we decided to put it up for sale and were lucky enough to get a buyer and eventuallu completed in august 2008 the house is now worth less than what we paid for it in 1992 i do pity the people now as the house is worth less than half what they bought it off us as i know they had a 90 % mortgage to buy it in 2008. we could pick up a 4 bed 3 bath with pool 2000 sq feet for around 150000 dollars but have decided not to although we like the area too risky..

I would also be interested in renting it next year. can you pm me details please. much appreciated.

ooooohhhh :eek:

I'd love to know the details to see if it's feasible for me too. :thumb:

My sister owns 3 rentals in Kissimme and a house just outside. Sadly the American dream has failed for them as they can't get Visas allowing them travel in and out of the USA. Can't sell the houses. Don't get enough bookings to cover the mortages, so they are just going to leave.

www.Abbracadabrarentals.com I think.... may be wrong spelling:wonder:

Edited.... she's shut down the web site as they are no longer taking bookings....