Long term rental

[semerton]

I have been asked if I would like to rent my home Long term and wondered if anyone could give me some advice on this []

[blott]

Depends on what you mean by 'long term'? If we're talking a couple of months, then some people recommend that you build an occasional clean into your price, if only to get someone into the home to make sure that it's OK.

If we're talking six months or more, then you'd probably be better with getting your guests to sign a formal lease agreement. If you do this, I would have thought it would be best if you continued with your management company, lawn care, pool care, pest control, etc as some long term tenants who have been made responsible for these have saved money and not bothered - you don't want grass up to your neck and a green pool when they leave!

You prospective guests will probably not expect to pay the full weekly rate but a reduced rental rate per month. Make sure that whatever you charge, it is still going to cover your running expenses and mortgage (if you have one). It might be advisable to get two months rental in advance and then for them to pay monthly (you don't want to be let down at the last minute if you've blocked out whole months in your calendar).

[florida4sun]

ANything over 6 months is considered long term. I wouldnt entertain it at all. Always ends in tears. The houses get really beaten up, unlkess you are extremely lucky to get a great tennant.There are not many around.

[chrizzy100]

quote:Originally posted by semerton

I have been asked if I would like to rent my home Long term and wondered if anyone could give me some advice on this []

Is it to snowbirds......I know they like to book for months at a time.....if its for a local..I'd be careful......but saying that my friend rents a Villa full time....and he takes great care of it......you just can't tell.....

[semerton]

Thanks for the information
the person works for my managment company and would like to rent for over 5 years my managment company are on the same community as I am so I know they will keep an eye out
Sylvia

[chrizzy100]

quote:Originally posted by semerton

Thanks for the information
the person works for my managment company and would like to rent for over 5 years my managment company are on the same community as I am so I know they will keep an eye out
Sylvia

Don't you want to use it in that time......5 years seems very long.....unless you have more than one place.....

[semerton]

I would miss it but it has been tough the last coupple of years getting rentals and I thought if the morgage got paid then long term I would be able to keep it
Sylvia

[chrizzy100]

quote:Originally posted by semerton

I would miss it but it has been tough the last coupple of years getting rentals and I thought if the morgage got paid then long term I would be able to keep it
Sylvia

If you have someone to watch it for you.....and you have a spot check done every now and then....it would be better than losing the house.....I was always planning to have long term rentals in the homes I've been thinking about buying.....it was only coming here...and asking friends and neigbours if they would rent a Villa that made me even think about short term....I want to keep my money in houses....so I may do a bit of both once I move to Orlando for good....