Sanibel and Captiva have condominiums available that rent by the week or nightly. There are several important questions: Price range, are you financing, how often do you want to use the condo, do you want a sunset? These answers will help guide you to the right property for you. I have been helping people make there island dreams come true for over 26 years. I have an office on Sanibel, Captiva and at Sundial Resort. Contact me with any questions you may have.
Fred Newman, Realtor, ePro, SCIS
Royal Shell Real Estate
Here are all the current active listings, half are rediculously hi and half are reasonable.
Here is the e-Brochure for the remodel:
Good luck with your search!
If you use it for your own enjoyment, be sure to limit that to 14 or fewer days per year, or you may face tax consequences if you try to utilize a 1031 Tax Deferred Exchange when you sell. Double check that the rule is 14 days or less every year.
I would like to talk to you about some great properties that give you a gulf view that are just before Sanibel which will save you the $6.00 commute expense. These units are able to generate $2000-4000 for a two week rental in season with on sight property mgmt. Looking forward to discussing your investment options.
Sarah Garrett, Realtor
ALLIANCE REALTY GROUP
"Chosen Best in Client Satisfaction 2006-2009"
I am a realtor on Sanibel Island and my company also offers a property management division. The lowest priced 2bdr condo is currently listed at $219,000 and can offer a rental return rate of around $8,000 a year. I'm not sure of your price range, but I can tell you that some of the nicer, higher priced condos will offer a better rental return due to the ability of demand a higher rental rate.
Another thing to consider is single family homes and duplexes. There is currently a Key West style duplex that can get a $1200 monthly rate on an annual lease per side, as well as the opportunity of get $3500 per side for a monthly seasonal rate if you put a few things into the property.
If this is any help to you or you would like any more information please feel free to contact our office.
I am a real estate agent and consultant I never recommend for anyone to leap purchase till details are reviewed.
National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
Follow me on Twitter: http://twitter.com/Lynn911
With the wide variety of developments on Sanibel, some with on-site rental programs and others without, it is tough to provide general rules-of thumb answers that you are looking for.
Here is a resource to view the complete landscape of Sanibel condo developments and available listings: http://www.greaterftmyers.com/sanibel-condos.php If anything catches your eye, we can drill down to the specific rental income detail that you are looking for.
Good luck with your search!
Sanibel is one of my favorite places. I have an investor that owns a condo in Sanibel and has it in a vacation rental program. They get around $1300 weekly. There was a pre-foreclosure in her complex and I could see if it is still available. As far as most important feature; the closer to the Gulf and beaches as well as the complexes amenities; pool, etc. Please let me know if I could help you in anyway, I would be happy to e-mail you properties or answer any specific questions you may have.
Have a wonderful Thanksgiving,
Congrats on deciding on Sanabel as your destination choice. It is a beautiful location with plenty to offer.
If you are planning on generating rental income during the entire year you should plan on a decrease in summer and off season activity. Additionally, most commercial and private rental initiatives use a sliding scale for their rental rates, with peak season generating the premium rates.
As a buyer, you should be focused on the home owner's association fees(HOA). This expense can cover a wide range of various sevices but can also be very costly. Be sure to do your homework on the complex, making sure you have reviewed the annual financial report and have a clear understanding of all major projects that have been accomplished and what is being planned for the future.
The Eckler Team
Michael Saunders & Company
You'll need to run the numbers to determine your offer price.
Do you intend to buy this place with cash or (conventional) financing?