Punta Gorda Rentals
Punta Gorda real estate market has always been a strong market for seasonal rentals. Being located in southwest Florida we have beautiful weather most of the year. We become very attractive during the winter months when much of the country is in a snowy deep freeze. January, February and March are our seasonal months. Seasonal rentals are hard to come-by in-season.
Most condo and home owners who plan to rent their property for the winter months have booked their property back in March, April and May. And most have agreements in place for 90 days or 3 months. Condos associations typically have restriction with minimum rentals of 30 days with many requiring 90 days. Condo associates universally restrict tenants/renter from having pets and limit the number of times per year you may rent your property. You’ll need renter’s insurance and if your property is mortgaged it’s important to make sure there’s no restrictions on renting. Managing your rental requires time and sometime hands on attention.
If you’re not local, you’ll need a property management company for support. Cost for this is around 20%. City tax of 5% is levied if renting less than 6 months plus a 7% state tax. Renting a home is much the same but with less restrictions because you own the property. However, if located in a gated or deed restricted community restrictions could apply.
Another option is an annual rental if you a home. Most everything is the same as seasonal but typically less day to day issues. Per month rental income is less but annualized much more. Due to Condo association rules annual rentals may be restricted.
If you’re a home owner, you also have other options for renting. Airbnb and VRBO have come on strong in the short-term rental market. You could advertise and rent it yourself. Done properly this can be quite lucrative but involves a lot of work. Additionally, the short-term rental market is new and problems on other levels are cropping up. Neighborhoods and local governments in some cases are challenging short term rentals. So, if your considering going in this direction caution is advised.
Interested in Punta Gorda real estate or rent contact me at email@example.com or call 941-661-9773.