Renting out a Full Ownership Condo

[jogi Junior Member Find all posts View Profile Close jogi]

I have a quick question about this:
here is the situation. Me and my wife are about to buy an appartement at a beach location. We will live there for the winter months as snowbirds. So we would like to rent out the condo for the rest of the year. So can i list it as a timeshare at one of these sites, if I am the owner, e.g. at myresortnetwork.com.
Or what would be the best way to have the condo occupied for the larger time of the year to minimize our own cost?

[SallyHoover Senior Member Find all posts View Profile Close SallyHoover]

A local real estate agent or management company is going to be a better option. Timeshares come with a management company that checks in owners, exchangers, and guests and takes security deposit. If there is a problem, there is contracted maintenance. Linens and beginning toiletries are included and at least one cleaning is included between occupants.

[motomem Senior Member Find all posts View Profile Close motomem]

Another option is to contract with a local cleaning service there, and manage the rental yourself using a site like VRBO.com. You'll have to manage getting the keys to the renter or maybe put a pushbutton lock on the door and periodically change the code.
A local management company is a great option if you don't mind them taking a 30% cut, or more.

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

I have a quick question about this:
here is the situation. Me and my wife are about to buy an appartement at a beach location. We will live there for the winter months as snowbirds. So we would like to rent out the condo for the rest of the year. So can i list it as a timeshare at one of these sites, if I am the owner, e.g. at myresortnetwork.com.
Or what would be the best way to have the condo occupied for the larger time of the year to minimize our own cost?

No you can not as it is not a timeshare resort.
Who will clean it every week/month?
Who would the tenant call if the toaster breaks?
Who will check each week/month that there is no damage to the apartment?
Who will take pictures of the apt to advertise it?
How would you advertise it?

To get started, you need to research how other people in your area do their rentals and see if you can be competitive and still make a profit. If it is worth your while to do it, use a local management company to handle this for you.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Wyndham offers a vacation rental management service.
http://www.wyndhamvacationrentals.co...wner-services/

[GrayFal Silver Contributor and supermoderator Find all posts View Profile Close GrayFal]

Wyndham offers a vacation rental management service.
http://www.wyndhamvacationrentals.co...wner-services/

They have their fingers in every pot.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

They have their fingers in every pot.

They sure do!

[caristo Junior Member Find all posts View Profile Close caristo]

Another option is to contract with a local cleaning service there, and manage the rental yourself using a site like sabbiabeachcondos.com. You'll have to manage getting the keys to the renter or maybe put a pushbutton lock on the door and periodically change the code.
A local management company is a great option if you don't mind them taking a 30% cut, or more.

yes this is also a possibility, more work than going with wyndhamvacationrentals for sure but I think you would profit more!
but yes, as GrayFal mentioned already there need to be someone close-by if anything happens otherwise it will be bad for your reputation!

[dcwojo Senior Member Find all posts View Profile Close dcwojo]

If there is an HOA where you are buying check with them for rules on renting?

[rapmarks Moderator Find all posts View Profile Close rapmarks]

My sister owns a villa near us in SW Florida. We do a 4 month winter rental, there is not much call for off season rentals. HOA rules prohibit short term rentals. It is way more work than I expected. We are nearby; it wouldn't work well if we weren't. We do get calls to change light bulbs. The second year tenants were party people. The dining room chairs all had to be renailed. There are a lot of things that need replacement constantly, and are not things you can necessarily charge the tenants for.