To rent your villa as a short term rental property (STR) it must be within the designated areas of Orlando and they are located throughout parts of Davenport, Kissimmee and Clermont. I have them all mapped out for Davenport on my blog http://www.thepinkflamingo.info and I would be happy to e-mail you a list of the communities in Kissimmee and Clermont that are zoned for this.
When you rent a property short term you are going to be paying around 13.5% tax on the rental income that you make per booking. Management companies charge anywhere from $150 to over $300 per month and some communities even have extra charges if you use outside management companies (Regal Palms, Reunion). I urge you to read these articles I wrote about buying short term rental properties in Orlando:
Short Term Rental Property Facts In Davenport You Must Know About
Hidden Expenses Your Short Term Rental Management Company Doesnâ€™t Want You To Know About
What To Look For In a Realtor For Your Florida Vacation Home Purchase
10 Reasons Why Davenport Is The Best City in Florida To Own a Short Term Rental Vacation Homehttp://www.thepinkflamingo.info/2008/12/18/10-reasons-why-davenport-is-the-best-city-in-florida-to-own-a-short-term-rental-vacation-home.html
Most of the local area realtors know which communities allow for short term and which do not. I specialize in the area you are enquiring about and I would be happy to let you know if a specific home/condo is in a short term area or not.
If you need any other Foreign National information, I can help you with that as well.
Further, some associations do require tenants or the property owner to make application for the rental of the property.
In addition, you may want to find out if short term rentals fall within any county requirements for paying a tourist tax in addition to the state's 6% sales tax. Both of these taxes may or may not reduce your rent if your rental agreement is not structured properly.
One last item, if you do not have a taxpayer identification number from the Internal Revenue Service, you apply for one as you will be required to file a US tax return for the rental property.