Thinking about converting to LTR

[TooFarTampa]

After compiling our year end spreadsheet (I recently have discovered spreadsheets :roll we decided to do some outside the box thinking too. I would not consider converting to LTR though because:

-- We are one lot north of 30-A and have averaged over $30K in rents the past two years. Could not get that much long term.

-- When we had a long term renter stay in our house for four months last year during the offseason, it was a disaster. Well, it could have been worse, but they did way more damage than any of our VRBO renters have during the time that we owned it. Fortunately they had to pay for it.

After analyzing our situation, we're probably doing the best that we can. We are with a management company that charges us sharply reduced commissions because we book our renters, pay taxes and handle everything except repairs and cleaning. We still seem to pay a ton in commissions, cleaning and ticky tack maintenance fees.

We actually have considered taking it off the rental market completely and deducting our mortgage & taxes the way you would with a normal second home. If you do that you can rent it 14 days a year tax free. We thought this would be a great plan (that would allow us to spend weeks up there in the summer instead of days) but the AMT reared its ugly head and it didn't turn out to be such a great idea.

 

[sophia]

It is a very nice house. I can only share my experience. I have a similar house near ALYS Beach. It is a nice neighborhood with deeded beach access, has covered parking and storage. It has never been rented, fully furnished, hardwoods. I have been unable to rent it long term for $1200/month. There are so many rentals on 30a. Also I noticed a long term in magnolia cottages, lovely house at $1500/mo---Vacant!

The last folks who looked at my house said it was "too nice" afraid they would wreck it. Glad they told me! Who can make sense out of this market or what happened to 30a???? I would think unless you had excellent tenants the wear and tear would be worse long term. I see people looking for long term rentals at $600/mo. Where in this country can you rent for $600? I have not agressively advertised my house.

Hi I am looking for a LTR and would like to now how many bedrooms your place has? I am interested in the properties along 30A. I would like to have something that has not been on a short term rental and new or fairly new. Access to pool, activities, beach and so on with 4 bedrooms, 3 full baths.

 

[rdelong43065]

I am renting long term in a condo development that is mostly weekly tourists. I really can't believe how a lot of them don't care. They look at me like I'm nuts when they see me picking up trash or even turning off the tennis court lights when they turn them on, play and then leave. My feeling is that if you get a good long term renter it is for the better. I guess the trick is finding that good renter.

 

[goin' coastal]

Hi I am looking for a LTR and would like to now how many bedrooms your place has? I am interested in the properties along 30A. I would like to have something that has not been on a short term rental and new or fairly new. Access to pool, activities, beach and so on with 4 bedrooms, 3 full baths.

Thanks for your interest, but we have a contract to sell it. We kept it in new condition. Hope to close soon.

 

[Cleaninglady]

Congratulations Hope everything goes well.