I 'd like to buy and rent out a sfh in SPB. Found one with ownership of type 'fee simple'. Does 'fee simple' imply rental or?

Asked by Stach, Miami, FL Wed Jan 30, 2013

other restrictions?

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3
Pamela Cohn, Agent, Clearwater, FL
Thu Jan 31, 2013
Stach,

Fee Simple is a form of ownership where you own the building and the property/lot it is on, unlike a condo where you own the inside of a unit (from the studs in) and have joint ownership in the "common areas, or a cooperative where you own a % of the cooperative with rights of use to a specific unit. It has nothing to do with rentals,

Other restrictions- that would involve rentals: Some communities have specific deed restrictions for their community, otherwise the only restrictions would be county. Some communities can be very specific down to paint color. There may be restrictions on rental such as a 3 month, 6 month or 1 year minimum duration. Generally speaking communities with HOA associations have more restrictions. The purpose is not to inconvenience people, but to maintain the value of the community.
Those looking to park a boat, RV etc. typically look for non deed restricted communities. Flip side is, unless you are on the water-deed restricted communities may bring you a higher rent. It all comes down to location, location, location.

Interview some full time professional Realtors and find one you are comfortable with. They will go over your specific goals in what you are looking for and help you find the best choice for your needs.
I feel an informed client makes the best decisions regarding their real estate needs. Let me know if I can be of assistance.

Sincerely,

Pam Cohn
Broker Associate, GRI, SFR, NHS
Real Estate Consulting, Marketing & Sales
Prudential Tropical Realty
2539 Countryside Blvd #3 Clearwater, FL 33761
pcohn@prutropical.com
727-204-7155
0 votes
Elaine Cloud…, Agent, South Pasadena, FL
Wed Jan 30, 2013
Hi Stach --

To address the second part of your question, many of the neighborhoods in Pinellas County do have restrictions. Some of the neighborhood associations have more stringent neighborhood rules than the individual municipalities (of which there are 24) or the county. Many are common-sense rules designed to protect property values. A typical example is code enforcement relating to yard maintenance. Another example are restrictions about long-term parking an RV or a boat on a trailer unless it is in a back or side yard or otherwise obscured from view. There are regulations relating to having a business in an area zoned residential. There are rules about rentals, too, with which you should be familiar before you make a purchase.

That said, St Pete Beach is a great investment because it is such a desireable place to live as well as vacation.

Let me know if I can be of service!

Best wishes,

Elaine
0 votes
James Tuten, Agent, St Petersburg, FL
Wed Jan 30, 2013
"Fee Simple" is the form of ownership in the property. It is the highest form of title ownership one has in real estate. With Fee Simple you own and have the rights to every aspect of a piece of real estate to do with what you please, within the guidlelines of the "law" or possible deed restriction. Fee Simple has to do with ownership not rental.
0 votes
Thx. And are there rental restrictions for sfh in SPB (Disturbance of neihborhood)? I am based in Germany and would like to rent it out flexibly.
Flag Wed Jan 30, 2013
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