Jenr, Both Buyer and Seller in Olympic Valley, CA

What is your take on the 2bdrm vacation rental market near downtown Old Naples, Fla? Just starting to research to buy this year.

Asked by Jenr, Olympic Valley, CA Fri Apr 26, 2013

How many weeks per year can I expect to rent it out?
Will want to use myself as well at diff times of the year while there on business.
Look at area around Old Naples - walk to downtown.

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Answers

7
Nancy Linder’s answer
If you are looking for a 2BR home, not condo, that is an option too. You do not have to concern yourself with rental rules/limitations with a home, as you do with condos. Sometimes subdivisions have limitations on rentals, but being in Olde Naples you would not need to worry about that. As mentioned before, during high season (Jan-Apr.), there is the most demand for vacation homes (by week, 2 weeks, month, etc.). The demand becomes less Oct-Jan. and Apr.-May, whereas the summers are the slowest time of the year. Right now there is only one home for sale in Olde Naples, 481 8th Ave. South. It has been on the market since March 26th. Only 11 homes (not sold) have come on the market within the last year in Olde Naples. You mentioned looking "around", within walking distance to downtown. Please let me know if I can be of assistance to you in any way.

Sincerely,
Nancy Linder
REALTOR
Naples Realty Services, Inc.
Cell Phone: 314-616-2313 (Missouri number, but live year-round in Naples)
Website: http://www.NancyForNaplesHomes.com
Facebook: http://www.facebook.com/NancyForNaplesHomes
Twitter: @NancyJLinder
LinkedIn: http://www.linkedin.com/in/NancyLinder
0 votes Thank Flag Link Fri Apr 26, 2013
Hi Jenr,
I hope you are having a nice weekend. Olde Naples is a highly sought after market which perfectly lends itself to the vacation rental market, due to its highly sought after location with close proximity to restaurants, shopping, and the beach. It would be hard to give you an exact number of weeks that you could expect to rent it out, but I would say you would be able to rent it out more so than other places within Naples due to Olde Naples excellent location. As others have mentioned, between November and April would be relatively easy to rent with the summer months slowing down a little as far as rental interest.

Please use my website, http://www.napleshomes.com as a resource during your real estate search. It has community summaries, detailed property listings and pictures updated daily, real estate trends and news, blogs, and much more!

I would be more than happy to conduct an MLS search for properties that meet your specifications and send you the listings. Please free free to reach out to me via email ryan@Napleshomes.com or via cell 239.244.1559.

Have a great weekend and I look forward to the opportunity to assist you.

Sincerely,
Ryan
Web Reference: http://www.napleshomes.com
1 vote Thank Flag Link Fri Sep 6, 2013
I would 1 look for low HOA fees. 2 look for the least amount of restrictions to season renters including pets.3. look at the taxes and rent rate. know this going in. if you plan to be here at your unit jan thru march. you can almost give up on renting it out the remainder of the time unless it is a give away for summer family vacation spot. then it would need to have close proximity to the beach. The best location is royal harbour. i can explain in detail the market metrics and why i feel it is a superior location mixed product use minus the 5th ave cost.

cheers

Mike Rivera, CIB,ABR®
Investment Real Estate Analyst
Naples Fl
http://about.me/MikeRiveraSR


239-770-6257 Cell
MikeRivera @ Embarqmail com
Mike Rivera, Saggio Realty Inc
Star Capital Group Investment
0 votes Thank Flag Link Fri Sep 6, 2013
Jenr,
Very good rental area as close to beach and shops. However need to make sure you look at rental constraints for each community as some allow once a year some twice etc... Also the amount of minimum days of the rental. You also need to look at expenses as far as condo fees verses amount of rent you will be taking in and price of purchase.
All the best,
Leann Anderson
leannNaples@aol.com
http://www.naplesbeachandhomes.com
direct-239-777-1823
0 votes Thank Flag Link Fri Apr 26, 2013
Hi Jenr
The rental market in Olde Naples is extremely strong and typically full in high season, Jan thru Apr. And certain locations are sought for holiday timeframes like Thanksgiving and Christmas. But also requests sporadically all year long. So demand for rentals are definitely there for Olde Naples. Many people do just what you are looking to do, and use it sometimes. Each complex does have their own rules for rentals. So that will be important for you to review to ensure it will meet your goals. But in general, a fantastic investment opportunity to purchase in Olde Naples or near. I can send some to you for your review.

My offices are right in Olde Naples. Please don't hesitate to contact me for all of your purchase and rental needs.

Best regards
Nancy Jaynes
Premiere Plus Realty Co
370 12th Ave S Naples FL 34102
Direct: 239-821-3789
Email: NEJaynes@hotmail.com
0 votes Thank Flag Link Fri Apr 26, 2013
Hi Ms Jaynes - Thanks for the quick reply. I am only starting to research the risks and benefits [taxes] of owning a place to use while in town on business and renting out otherwise to vacationers/other business travelers.
I would prefer to find a 2 bedroom with screened in lanai within walking distance to downtown and the beach. I am crawling Trulia daily but need help with the true costs of the different places, recent bldg upgrades, fees, rental restrictions, management, utility costs, owner occupied vs rental, etc...
Hope you will help me navigate through it all -
Regards - JenniferR
Flag Wed May 1, 2013
Assuming you're referring to a two bedroom condo, most associations have rental restrictions as to minimum days of rental and number of times per year. It would be helpful to know your price point so we can look at specific condos that may be of interest to you. Feel free to call me to discuss.
0 votes Thank Flag Link Fri Apr 26, 2013
The limit is the rules of the association for the property you select. Each association has limits on length and amount of rentals per year allowed. I would be happy to discuss options with you and have had both personal and professional experience with local rentals.
0 votes Thank Flag Link Fri Apr 26, 2013
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