A Property O…, Home Buyer in Kissimmee, FL

I'd like to buy a short term rental house at Regal Palms. I understand there's a management fee of $275. What's it for?

Asked by A Property Owner, Kissimmee, FL Thu Feb 28, 2013

I'd like to buy a short term rental house at Regal Palms. I understand there's a management fee of $275. What's it for? How about booking and cleaning fee? Who pays for the utilities? What is the average occupany rate there? How much money can you actually make per year after all the expenses?

Help the community by answering this question:

Answers

4
Antonio Vega-Pacheco’s answer
Have you considered Terra Verde, Windsor Hills, Windham Palms, Emerald Island and Encantada?
You can get good deals at all those resort comunities and have lower monthly fees that at Regal Palms.

Check this units I found for you > http://www.searchkissimmeehomes.com/listings/propertytype/CO…

Contact me with any questions.

Tony Vega
La Rosa Realty
407-791-9086
AVegaPacheco@aol.com
0 votes Thank Flag Link Fri Mar 1, 2013
Answer to your last question is nothing if you don't personally take control of bookings. Do read my popular blog on this topic: http://www.trulia.com/blog/mark_lemenager/2011/08/vacation_c…
0 votes Thank Flag Link Tue Mar 12, 2013
The $275 Club fee is to cover amenities like - pool, lazy river, slide, sand volleyball, games room, indoor and outdoor spas, sauna, steam room, fitness, basic cable.

Booking fees and cleaning fees vary depending on the property manager you use. Typically if a booking is 3 days or less, the fee is charged to the guest. If more, it's charged to the owner. Average cleaning fees in Regal Palms for a 3-4 bedroom townhome is $70-$90.

The owner pays for power, water, internet, cable.

Average occupancy rate - varies depending on the PMC and will vary depending on where the property is within the community. Occupancy and rates for townhomes close to the pool are higher than in the upper section (phases 5 & 6) of Regal Palms. On average - 50% occupancy. If you're an active owner, it can be much more.

See my comments in my last post concerning turning a profit in the Regal Palms Resort.

Cathy Starkweather
Realtor & Vacation Home Specialist
LaRosa Realty, LLC
01.407.274.8476 / cathy@jerrybarker.com
0 votes Thank Flag Link Tue Mar 12, 2013
The HOA fee for Regal Palms is $147/month + a Regal Palms Club fee of $275/month. I specialize in Regal Palms among many others in the area. Regal Palms is a nice community for the price point, however you shouldn't rely on a property manage to turn a strong ROI here. What you're hoping for is to cover your running costs and use the property yourself for friends and family. Depending on your budget, there may be better options for a stronger ROI in the short term rental zone of the area. The best way to increase your ROI on any property is to be an active owner. This means you book market and book the home yourself to colleagues, associates, etc as well as some websites such as http://www.homeaway.com and many others. Social networking alone could really prove beneficial, if those you work or associate with know you have a vacation home in the Disney area, you could offer them wholesale rates during off season. These are times when the property manager typically will not be booking the home anyway. Therefore, you'll increase your occupancy rate and income. Not to mention, most property managers charge a much smaller booking fee or none at all for owner bookings. There are several other important factors to understand in Regal Palms. If you'd like more information or particular ROI statistics or other points to be aware of in Regal Palms, please call or email me directly.

Cathy Starkweather
Realtor & Vacation Home Specialist
LaRosa Realty, LLC & Jerry Barker Vacation Homes
cathy@jerrybarker.com / 01.407.274.8476
0 votes Thank Flag Link Tue Mar 12, 2013
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer