Home Buying in Naples>Question Details

Winton Hill, Home Buyer in Canada, KY

what is the rental market like in Naples Park? Is it easy to rent a home and at what price range is it?

Asked by Winton Hill, Canada, KY Sun Jun 29, 2008

What is the current rental market like in Naples Park? Is it used more for seasonal rentals or annual rentals. We are considering purchasing an investment property in this area with a view of renting the property out when not needed. This could mean using it as a seasonal rental or if there was a suitable annual rental, we would prefer that route. What costs are generally to the account of the tenants and to the landlord ( ie taxes, lawn care,... )

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There are literally hundreds of rentals in the area. Shop around and negotiate the price. Many investors are hurting right now and need some sort of income on their properties. Don't settle for the first place you stumble across without negotiating in your best interest and understand that everything is negotiable in real estate. Negotiate the lawn care, limited electric, or whatever you feel helps out. Remember, FPL has asked and recieved permission for a rate hike next year of approximately 16%. What you save in negotiations is money in your pocket.
1 vote Thank Flag Link Tue Jul 8, 2008
Hello Winton,
Naples Park is quite a sort after location for seasonal and annual renters due to the convenient location and as a result, many people looking to invest in rental income producing properties look to purchase in the area too. Our office is at Naples Park on US41 so we are very familiar with the sales prices and rentals too. Rentals rates vary on property size, age, condition and proximity to the water but as a guide, annual rate range from around $1,000 up $2,500 with the bulk renting for around $1,500. Some of these lower annual rents are rented long term and unfurnished as the owners look for a long term steady income throughout the year.
Seasonal rates range from $1,000 up to $5,000 with the bulk is under $2,000. Out of season rate vary. Some owners charge the same rate throughout the year while some drop the rate by 50%. (Naples Park is a competitive rental area.) When thinking of which type to focus on, remember that if your renting seasonal, it needs to be fully furnished (extra investment needed and to maintain) and there is a 6% tourist tax to be paid on seasonal rentals, where as if you decide to focus on the long term annual rentals, you usually rent unfurnished (saving cash outlay) and the tourist tax doesn’t apply. As an owner, you need to be sure the property is maintained well so you should pay for such as lawn care, pool maintenance and the like but then pass the cost to the tenant.Hope that helps you to get started.
Web Reference: http://sebarker.com/
1 vote Thank Flag Link Sun Jun 29, 2008
Hello Winton,

The rental market is excellant for seasonal rentals. Annual rental market is good for tenants because rental rates are very low. Investors beware! For more information, go to my website or contact me by phone.
0 votes Thank Flag Link Mon Jun 30, 2008
Hi Winton
In response to your question the rents range from 850 to 1300 for an annual rental and for a seasonal you may be able to get between 2000 and 3000 depending on the condition and exact location. There are a lot of good investment product in Naples check out http://www.caronhometeam.com I have about twenty five short sales available i all locations from Marco Island to Punta Gorda. If you have any questions or would like to deal with a short sale ore foreclosure specialist please feel free to email me at bcaron@kw.com or phone me at 239-659-3272
0 votes Thank Flag Link Sun Jun 29, 2008
Great place for a rental property....close to the beach and overall good location. There are some tremendously priced properties for sale in there as well. Your tenant is usually just responsible for the electric, cable and the phone if they choose to have one. I would negotiate the terms for the lawn care.

You will get good rental value in Season or annually with a property such as this. Letr me know if you need any help.
0 votes Thank Flag Link Sun Jun 29, 2008
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