Florida Income Rental Condos Beach Waterfront

Charles Rutenberg Realty Associates. 727-399-1347

Condos directly on the Beach Generally generate the most rental income.
However, there are a number of waterfront units near the beach that also do verywell

As you know Real Estate Investments require considerable and comprehensive research. We are experienced in all facets of Rental Income Condos with a combined 40+ years experience in Florida Real Estate. When you agree to our buyer representation we will include information to assist you in making the right decisions.


Information on any listing needs verification. If furnished is not mentioned...we will call to inquire if an added expense ...or was it overlooked. Info on rental histories, if they claimed Homeowners exemption they most likely used it as a permanent residence (6 months or more) then we will try to get info on rentals from similar in the area. Boat slips - we will need to confirm slip sizes and if included in the price. Some listings include a sellers disclosure some don't - we will investigate. HOA rules regulations and what the fees cover will be assessed. Short term the rentals 1-7 and under 14 days receive the highest rental income.

Pinellas County Property Appraiser “taxable value”. Any renter who resides for a period of six (6) months or less in a facility located in Pinellas County must pay 6% Tourist Development Tax for Pinellas County plus 7% Sales Tax to the owner of the rental property. 
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EXAMPLE OF RESEARCH DONE FOR BUYERS
NOT UP TO DATE... CONTACT US FOR CURRENT INFO

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USE FOR RENTAL INCOME COMPARISON - SOLD FOR $715,000
Initial Asking Price $735,000 - Fully Furnished with 30x15 Boat Slip

145 Brightwater Drive #8 , Clearwater Beach
Weekly Rentals Okay - Sleeps 6 - $75k Rental History
Feb to April High season up to $2600 weekly rentals
MANY OWNERS PUT THEIR UNITS ON A RENTAL SITE TO SAVE ON PROPERTY MANAGEMENT FEES...Rental Site www.homeaway.com/vacation-rental/p167586


The return on investment is not just based on revenue. The tax advantages, appreciation, offsetting of vacation costs and personal preference all enter into an "investment". Consult with your tax professional for tax deductions, such as when visiting your investment for airfare/rentals etc
IRS publication 527 about the tax benefits of a vacation rental home

Beach Front and Waterfront Condos, Townhomes - Clearwater Beach, Redington Beach, Treasure Island, Madeira Beach and St Pete Beach get the most vacationers

Condo Interior Warranties for Appliances Etc.
Globe Home Warranty Review Plans
American Home Shield Review Plans

Condo insurance
- The HOA usually has a master insurance policy which covers the common areas and buildings from the outside. Part of the monthly association fees go to the upkeep and insurance for the common areas. Buyer should review it.

Condo Owners insurance policies
cover the inside structure of the unit and personal contents.

The value of a Boat Slip can range from $35,000 to $65,000

We will consult with you initially and answer questions. Should you decide our experience and knowledge satisfies you, then you must sign our Buyer Representation Agreement before we begin the extensive and time consuming search for you. Buyer-Agreement

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EXAMPLE OF RESEARCH DONE FOR BUYERS
NOT UP TO DATE... CONTACT US FOR CURRENT INFO

All figures are approximate and being used as a general guide

GULF CONDO Premium Beach View Asking $499,000
$70,400 2016 Rental Revenue for 2016

List Price: $499,000
Assume Accepted All Cash Offer of $474,000
2016 Taxes: $5,081.00
HOA Fee Monthly: $567.00 Includes: Building Exterior, Cable, Community Pool, Escrow Reserves Fund, Flood Insurance, Ground Maintenance, Insurance Building, Pest Control, Roof, Security, Trash Removal, Water/Sewer.


ESTIMATES -Appx numbers - Accepted price
$474,000
Gross Annual Rental Revenue $70,400
Property Management 13% assuming buyer ads bring in renters) rental fee $9152  (61,248)

Appx cleanout fee $80 X 30=$2400 (charged to renter and included in Gross)
$58,848
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Tax 13% on Gross $70,400 =$9152
$49,696
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Maintenance fee $567 x 12=$6804
$42,892
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Interior Content Liability Insurance for the unit - appx $1000
$41,892
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Warranties for Appliances Etc - appx $400
$41,492
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Electric appx $150 x12=$1800
$39,692
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Property Tax on $474,000 = appx $6,000
$33,692
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APPX NET - $33,692 (with 13% management fee and your advertising)
(Appx 7% return without additional IRS deductions)

Sunset Vistas Condo Hotel More Info

When doing net approximations you should account for appreciation of the unit...depending on purchase price. Contact us for an analysis.

We have communicated with a local area property management company who said their typical mgt fee is 20% and they pay the credit card fee of appx 2% (making it 18%) - If the client refers the renter a 5% discount - or 13%

Example Rental Site Marketing Sunset Vistas
12-month listing for under $350 Home Away- https://www.homeaway.com
https://www.homeaway.com/results/keywords:sunset+vista

Part of Home Away Family VRBO- https://www.vrbo.com
Booking.com

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