Janice,

As Scott, noted in his reply, the first decision is to determine if you want to rent the villa on a seasonal or annual basis. Then find a REALTOR that specializes in seasonal or annual rentals.

The market for rental properties varies with the location of the property - physical location (nothing objectionable), the quality of the schools, and the ease of commutation to work.

You are quite right to find out what the rental is in the area that your property is located.

The current monthly rent being paid for an annual rental in Ibis Cove is running between $1,200 and $1,300.

Hope this assists you.

Janice,

Rentals are very tricky especially expiring that time of the year. There are 2 types of rentals that are in the market (annual and seasonal) so you must decide what type of rental you want to do and then start advertising it to a perspective renter. If you are doing an annual rental it is always better to advertise local and if you are going the seasonal rental your unit must be furnished and advertised to the snowbirds. Feel free to log onto my site and see what rentals are available via mls and that will give you a good idea on what rentals are going for in todays market. If you have any questions or you would like a custom rental report on your area please feel free to contact me.

Thanks,

Scott Riddle
239-289-1849

A good place to advertise is the local newspaper or local neighborhood newspapers. Rent.com is an excellant web-site to use. Interview local Property Managers and Real Estate Companies who have a Rental department.
Jim Soda Prudential Palms Realty
941-809-7759 Sarasota, Fl

I'm not in your area, but I can say without a doubt that the Daytona Beach real estate market has just as many rental properties on the market, as sales. And in the last 2 months, ALL the prices have dropped. My rental listings have had to drop their prices just as much as my sellers. And we're still having a hard time generating interest.

Hi Janice
There is a three year inventory of condos and a lot of people are selling them to their renters at huge discounts. Everyone who wanted to flip their property are now trying to rent them and with the availability of empty properties owners are competing for renters to subsidize their mortgage. If their is anything I or my team can do to answer any more of your questions just call me at 239-659-3272 or email me at bcarron@kw.com our office is in Bonita and I can analyze your situation and give you a more in depth market snapshot for Ibis Cove

Try contacting a local agent and ask for a market analysis for current renatals in the neighborhood. The MLS system is a great tool to help determine an accurate market rent, absorbtion rate, active, pending and rented inventory. It was once a rule of thumb that the monthly rent should be 1% of market value.