All Forum Posts by: Caleb Richardson

@Mary Jo @Rhonda Blue I am obviously inclined to agree with Rhonda, I remember spending Christmas day on the beach the year before last, it was 75 & Sunny :)

Best of luck in your search!

@John Thedford Interesting! I remember learning about some of the other random exemptions, but that is not one that I was aware of. What is their definition of Short-Term?

@Christine N. I am only knowledgeable of Florida rules, but I am definitely not a lawyer. 

To give you an example, my significant other is employed as a property manager for a STVR company here in Destin. She does not need a real estate license in the state of Florida because the company she is employed by has a broker's license. 

Not sure about Colorado, but there are a variety of exemptions here too.

You didn't mention the gulf coast, but relative to the tourism-focused cities on the east & west coasts, our prices can look like a steal. What do you define as reasonably priced? 

Would you prefer to manage the property yourself, or hire a management company?

I  upgraded from a beat-up 2001 Honda Accord to a 2015 V6 Toyota Camry XLE that I found with only 23k miles for $21,000 to look a little more professional. Best super reliable & acceptable looking car that I could find for around 20k. I plan on keeping it for up to 10 years, hopefully can pay it off early.

Good deal, and good luck with your endeavor!

@Preetinder Singh Fun fact: Connecticut and Florida have reciprocity, or mutual recognition, so once you get your license in Connecticut you can just take the state portion of the Florida real estate exam to get your sales associate license here. 

@Christine N. I am not familiar with Colorado, but in Florida, you are definitely legally required to have a Broker's license (and possibly a brokerage, not certain) to manage property that is not your own.

Jennifer Wilson made some great points, and I'll also suggest the most informational route you can take will be to reach out to multiple Short Term Vacation Rental management companies and ask them for their opinion on any particular property, or ask if they have any rentals in a certain condo building/neighborhood and how they perform. They are a goldmine for information and can tell you which of their properties the best occupancy rates and why, what their gross rental income average is for any particular area, and which amenities are most vital to maximizing your rental income potential during the prime rental times. There are a great variety of rental management company options along the Emerald Coast Beaches, it's a competitive market, so it should be fairly easy to get more than one opinion on the different HOA's, which are most agreeable, and who has the most reasonable fees vs. amenities available. Several of these rental management companies have in-house real estate brokerages as well, so it would be wise to consider their agent's interests when weighing their opinion on other rental management companies in the area. My recommendation is to stick with someone local, as it is very difficult to find and retain good cleaners, maintenance personnel, etc.

I'd also agree that 20% is the average cut for most STR management companies around here, but as usual, everything is negotiable and it depends entirely upon the property and how easy/difficult it will be for them to help keep it rented. Some require more advertising and repairs, which they will obviously take into account when offering projections and rental program numbers.

That sounds accurate, you just prove that you have your license in a mutual recognition state like Illinois. I can't remember exactly what you are required to bring, but I do remember you obviously need to show up with the proper paperwork, or you will be forced to reschedule and pony up for another exam.  

Around here, the testing centers are in Pensacola or Panama City (PCB center may not be up and running yet because of the hurricane). I took mine in Pensacola, it was easily accessible, one room, they give you big ear muffs but it was incredibly quiet in the testing room. The test is taken on a computer. Super straightforward. The 100 question test took me ~ 90 minutes, but they give you 3 hours.

Which part of Florida are you going to be doing business in?