Slynn, Home Buyer in Gloucester, MA

We are interested in purchasing a condo in Gloucester - we only want to use it from Nov to May - how does it look for renting it?

Asked by Slynn, Gloucester, MA Tue Jan 18, 2011

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Right now Gloucester is hot in rental market as well as condo market.
Depending on your association by laws- you could possibly do a 4 month lease for summertime. Many people from Florida, come up to Gloucester for summer. I have sold many condos at The Heights of Cape Ann and Many buyers were people from Florida who come up here in summer to escape the hot southern heat.
If you and your association allow dogs, you will have a easy time renitng. Many people now own dogs and not all landlords allow pets.
Depending on location , condition and view you can get a very decent return .
Parking is important to have as well.


Micghele allison Elwell CBR
Certified Buyer Representative
Remax Advantage
224 Washington St
Gloucester, ma 01930
http://www.capeannspaces.com
0 votes Thank Flag Link Wed May 15, 2013
Gloucester has a strong summer rental market with some absolutely stunning waterfront areas and communities. Please check out the currently available inventory here:

http://www.beangroup.com/search/?frm=agt&aid=775262 and let me know if you would like to schedule a showing to view any of these lovely properties!
Web Reference: http://www.siga-snipas.com
0 votes Thank Flag Link Wed May 15, 2013
Gloucester is a excellent summer rental community. However, before you purchase a condo you should review the condo docs and find out what the rules are about renting out. Some associations may have time restrictions. For example a period of no less than 4 months at a time.
0 votes Thank Flag Link Tue Feb 8, 2011
The summer in Gloucester is your best rental market. The condo would have to be appealing to a vacation renter or you could try to book by the week, that would require a rental agency that specializes in short term rentals.. The closer to a beach the better. Good luck on your purchase.
0 votes Thank Flag Link Tue Jan 18, 2011
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