With respect to insurance, your flood insurance depends on the elevation of your first floor and the distance to the beach more than any other factors. If you are financing the deal, your lender may require specific amounts for your homeowner policy. Regardless, it makes sense to have your place insured for replacement cost, and you want liability insurance that covers tenancy as well.
The sooner you settle, the better. You want to get the place into shape and get it listed with local realtors and live on their websites as soon as possible!
Monihan Realty Inc.
717 Battersea Road
Ocean City NJ 08226
I would have to see the property to give you a weekly rate and guestimates for insurance. You will need a total property package Liability/Fire/Flood. Make sure it includes interior coverage, you might have to add that.
My office is in the north end and we sold out of rental properties last summer!
I can help you with all aspects of Ocean City Real Estate if you need.
Gene R. Candeloro
660 Asbury Ave
Ocean City, NJ 08226