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Kid, Home Buyer in New York, NY

I am a buyer interested in purchasing a vacation property that I plan to use for myself 1 or 2 months a year

Asked by Kid, New York, NY Sun Feb 1, 2009

and rent out on a short term basis as much as I can during the rest of the year... Does anyone have a guess to the likelihood I would have a problem with the HOA in the West Boca community 'Mission Bay if I did this there? I'd try to do it with little fanfare, but surely nosy neighbors figure things out... Also does anyone have an opinion whether it might be better to buy something on NE 5th Ave, near Wyman Park? I found a smaller, similiarly priced property over there & wonder which is a better value... Zillow has them valued at similiar prices. I like the manicured and newer West Boca area, with the larger property, but I wouldn't mind being closer to the beach and Mizner Park and not have to pay an HOA. I'm on the fence and would like the opinion of a local. I personally prefer West Boca, but think perhaps I'd have an easier time renting closer to the beach and this is an important consideration because the more costs I can cover without coming out of pocket, the better.

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I live in West Boca and specialize in the area. Many of West Boca's communities have rental restrictions that range from length of ownership requirements, minimum day leases, association common area security deposit for renters, rental frequencies per year (generally only allowed one per calender year) Believe me, "sneaking" past the homeowners is one of the least of your concerns when it comes to renting in West Boca and it will be pretty much impossible to sneak past your neighbors. Odds are heavy that you will get ratted out very quickly. If you are interested in purchasing a rental property you would are much better off in either East Boca Raton where there are no HOAs and thus no restrictions on renting. Certain areas of Deerfield Beach and Pompano Beach might also be attractive. Please contact me at madoring10@yahoo.com to give me more details as to what you are looking for, and what price range you are looking. I can definitely help you in understanding the southern Palm Beach County rental market and help you achieve your goals with your investment property.
0 votes Thank Flag Link Mon Apr 20, 2009
Hi Kid, I believe that the COURTSIDE VILLAS AT MISSION BAY doesn't have rental restrictions. What is your price range and the size of the property you are looking to purchase? You may reach me at 561-350-3503 or karina@lealusa.com I will be glad to help you with your Boca Raton Real Estate purchase.

Karina Leal
Leal USA Realty
http://www.karinaleal.com
0 votes Thank Flag Link Wed Apr 8, 2009
Palm Beach County Luxury homes realtor including Boca Raton - http://www.lindabassitt.com
Web Reference: http://www.lindabassitt.com
0 votes Thank Flag Link Sun Apr 5, 2009
Kid,

I second David's caution in re to sneaking by the HOA, and would advice not to do that. Taylor a purchase around your rental needs, this way you are safer.

I don't handle rental inquiries per se, but from what i see and hear, at least European renters have a very strong preference towards certain locations. Please give me a call at your convenience or email me if I can assist you.

All the best,

Tobias Kaiser, MS, CIPS
Greater Fort Lauderdale Real Estate Broker + Consultant
Certified International Property Specialist
954.561.0066 x11
0 votes Thank Flag Link Tue Feb 3, 2009
Mission Bay may be an option. Remember, there are a lot of Snowbirds down here... most communities won't allow short term rentals - anything under 6 months...but if you wanted a seasonal renter and you come visit other times during the year there should be no issue with the HOAs of any communities you like.

Fanfare - you would have to inform the HOA that there is a renter for security purposes... you would lose access to the common areas and even the gates (in the gated sections). You would also have to allow the HOA to approve them or you may be fined by the association. Some are stricter than others.

West Boca is nice...very family friendly and definitely a newer area in many ways. I would also look at Boca Isles, Boca Falls and Saturnia as viable alternatives.

You are right about ease of renting - West Boca especially Mission Bay does have its share of short term (6mo) renters due to the tennis center attracting youth from around the country for professional level training...but East would have higher insurance and/or condo fees!

I will be in my office tomorrow morning and would be happy to discuss these areas with you specifically targetting properties you are wanting to pursue.

Also the link below will show you everything for sale AND lease in Mission Bay.

(ps... Zillow is a terrible resource for valuation as it does not differentiate between viable and not-viable comps)

David Podgursky
Boca Executive Realty
Broker-Associate
561-504-6949 c
dp@bocaexecutive.com
http://www.davidpodgursky.com
0 votes Thank Flag Link Sun Feb 1, 2009
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