All Forum Posts by: Peter Hagemann

If you are looking in the Disney area, you might want to look at Mega Houses that are being used for Short Term Rentals.

Looked into the condos and the market is saturated with 1 and 2 bedroom condos using for Short Term Rentals. So competition is fierce.

Mega Houses will sleep any where from 10 to 25 people with houses going from $300,000 to $600,000 and are in high demand for multiple families that want to stay in one location. Brother and sisters that want all the kids together.

Company that we looked at was Encor, they are also running the Margarittavil that is being built of Highway 192.

We ended up picking up our units (13) on the beach on Manasota Key.

Growing up Disney we did not want to vacation at Disney but on the beach.

2 good books 

The vacation Rental goldmine

How To Rent Vacation Properties By Owner

Tried the calculator on my 13 properties and it seemed way off for down here in Manasota Key. 

We use Nest Cameras to view our Vacation Rental Properties

@Jeff Kehl Currently we have 2 completed 4 plexes . The first one has 2 large 1 bedroom units upstairs about 750 sq feet each, downstairs we have 2 2 bedroom 2 bath units.

Our 2nd Quad is 2 2bedroom 1 bath units upfront and in back we have 1 1bedroom unit downstairs and up stairs we have 1 2 bedroom 2 bath unit

We just purchased a 5 plex on May 1st and will be getting the 5 units ready for season January 1st.

4 1 bedroom units and 1 2bedroom 2 bath unit.

all 3 of our buildings are 3 houses or about 200 feet from beach. Yeah beachfront would be nice but we have had no complaints from our guest walking 150 to 200 feet to the beach.

In Florida most beach areas are on a key or island separated from mainland by intercostal water way, so being on a key or island you are most likely going to need flood insurance. But you factor that into your rental rates

On the question about SFR, I have them in Orlando but not here on the beach, yet

The reason I don't have them on the beach is because when I do Vacation rentals I have 2 criterias, 

1 being can you pay mortgage, insurance and taxes with the season rentals

2 being if the vacation rental market dried up or the law change could you rent long term.

What I have found is on the beach especially where we are , Manasota Key the wages here support rents of about $1000 to $1200 a month 

Rents like that usually will not cover a long term rental mortgages on a SFR

but by going with multi family units all 3 of my building units can be rented for $1000 a month long term and I would be able to cover my Mortgage, insurance and taxes each month.

In Orlando I have units that are getting $2400 a month because the higher paying jobs are there.

Now I figure when I get a few more multi family units on the beach they will be able to carry SFR to be used as vacation rentals

Michael Greenberg, we setup Google Business our self.

Mainly it is verifying with Google that you are a legit business and that your address of your vacation rental property matches the location of your property on Google maps.

Google sends a letter or registration card to the address of your property and then you must send it back.

Once registered you ask your guest to give you a review on your Google Business 

We have our own website and also use booking from HomeAway, VRBO,Trip Adviser and Flip Key

Our high season Guest are all repeat customers and word of mouth so they come through our website.

One of our high season guest that we inherited, this was his 11th year on property. Our rentals are already booked for 2019 season .

Off season or the summer months, we have just passed 50% of booking coming straight to our website.

Google business has really helped this drive to our website.

We as well as the guest save quite a bit if they can book direct with us rather than going with the HomeAway, VRBO,Trip Adviser and Flip Key

Just my 2 cents

When doing Vacation Rentals I stay away from Condos and places that have HOA's

Condos and HOA'S tend to have restrictions on Vacation Rentals, usually minimum stay periods. Usually min stay of 1 week or 2 week

Example. Here on Manasota Key in Southwest Florida our Winter Season starts in October and Goes to the end of April

With January February March and April being the high season.

Most renters in high season are staying 1 full month if not 3 or 4 months. So not a problem with condos and HOA'S

But now in the summer month (low season) most of our renters are 3 and 4 day getaway vacationers.

These vacationers can not stay at most Condos and HOA'S

So my 1 quad plex as example did just over $9175.00 in June all 3 and 4 days not 1 person rented for a whole week.

Our friends that have 5 units in condos say they did not break $2000 for June , they had only 2 vacationers that rented for a week in June.

Yes it is more work doing a bunch of 3 and 4 days but well worth collecting pennies to make a dollar.

With 13 vacation rentals in Southwest fFlorida, I can tell you are very happy as well as cash flow positive.

I won't fool you, they are work.

But where else to you get all the money for the rental up front before they set foot on property?

This past year on my 1 Quad Plex we had a 6 month renter that before she set foot on property had given us a check for $23,000 this is for 1 unit for 6 months. My mortgage payment on the property is $21,500 a year.

Guest pay all state and resort taxes.

Guest paywall cleaning fees

Extra money stream for us.

Security Waiver Fee (self insured)

Pet Fee

Cleaning Fee, we charge $150 per visit, cleaner charges us $85 to $100

Most Vacation rental areas have a high season with 4 months of high season.

Usually with 4 months you can pay mortgage, insurance and taxes for the year

A couple of good books are

The Vacation Rental Goldmine  by Debusk Chris

How to Rent Vacation Properties by Owner by HRIB-Karpinski-Christine

We also use the Schlage z-wave locks

They are great

with 13 units We as owner have 1 code for us

Cleaner has their own code 

and then each unit is set up with a separate code.

We can see on record when cleaner arrives and then leaves. Which is helpful. Normal checkin for guest is 3pm

but if cleaner is finished at say 11:30 am then we let guest know they can checkin early. I nice little perk for guest and the reviews we get show it.

We also use Nest Cameras for exterior of property only.

Your property is your investment, so you want it secured and know whats going on.