Saturday, May 27, 2006

How to handle Utilities in a long term rental

As to utilities-
The tenants generally take the lease to the water, electric, phone and cable people and have the utilities put in their name and of course they pay their own deposits. In most areas of Florida, garbage is included in the tax bill-so there is no separate garbage bill.
• Seasonal rentals.
Most residential areas can only rent monthly or 28 days, meaning the owner can only rent the home out 12 times per year. This means about 5 months of income-Jan-Feb-Mar and July-August. There are some April and June monthlies.
• *Ask your REALTOR if there are any Condos or areas that do allow weekly rentals as this will definitely be your best return.
• As to what is the best rental situation, that is size, which areas, views, pools, how water and boating accessibility affects rental amounts and the typical rental amounts for both long and short term, plus the fees involved, ask your agent.

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