Home Buying in Kissimmee>Question Details

George Towns…, Other/Just Looking in Charlottesville, VA

Can anyone advise me on the additional costs involved with a short term holiday rental (e.g. property

Asked by George Townsend, Charlottesville, VA Thu Jan 31, 2008

management agency fee, etc.)?

Help the community by answering this question:



Your best move is to contact several management companies and get their fee schedule. They all have different fee strucures. So me things to look for are:
Is there a fixed monthly management fee (rented or vacant), or just when rented fee?
Do they have a minimum guaranted weeks to rent per year option, or just a luck game?
Will they rent your house to large guided tour operators, or only to families?
Pool fee, is it an in house company, or can you choose?
Cleaning service, again, in house or can you choose?
Advertizing fee?
Do they have a staffed office on weekends and holidays for the renters?
If repairs are needed to the property, do they hand the key to the repair man and walk away, or have a staff member let them in and wait.?
Will they charge you management fees the times you personally use the house?
How will they handle when you find your own bookings?

Hope this helps out...
Tony Vega, Realtor
Coldwell Banker Ackley
Kissimmee, FL
0 votes Thank Flag Link Thu Jan 31, 2008
Hi there. I don't know if your questions were answered about running costs for a rental property, but we have a spreadsheet that will analyse all your outgoings, mortgage and insurance costs as well as potential income. The idea is to structure the purchase so that the income is at least equivalent to the outgoings. This is achieved by increasing or decreasing the down-payment.

We are international real estate agents with offices in the UK and Moscow.

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0 votes Thank Flag Link Wed Feb 6, 2008
You can go through property management company--which in the Destin area can be as high as 35-40% of the gross rental income. For that price, they take over responsibility for the home. You can also check out any location through VRBO.com and contact various owners about how to do it on your own and save that fee.
Web Reference: http://www.MykeTriebold.com
0 votes Thank Flag Link Thu Jan 31, 2008
Hello George,
Tony has given you some good questions to ask a management company.
Most companies charge a monthly fee for maintaining your home, keeping track of paperwork and paying the monthly bills, then 10-20% commission of any booking they find for your home. Make sure they will work with you on you finding bookings. Some companies just charge a admin fee and/or cleaning fee if it is your holiday maker.
Most homes that are zoned for short term rentals have Home owners association dues, but not all of them. It really depends on the community as to what those fees cover. Some have lawn maintence, basic cable tv included. If you have a certain community in mind, and would like to me give you more information on it, please feel free to contact me.
0 votes Thank Flag Link Thu Jan 31, 2008
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