we want to buy an investment property - 3 bdr house to rent out. Do most of the communities allow rentals?

Asked by Lynda, Sunrise, FL Tue Aug 2, 2011

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8
Meir Aloni, Agent, Plantation, FL
Tue Sep 18, 2012
Many HOA (mainly condos and townhouses/villas) may not allow a new owner to rent out first 1-2 years of ownership....Many HOA (Home Owner Association) may take up to ONE month to screen and approve your tenants. That's why, in my 25 years as landlord, I did not and will not buy a property where the HOA will take one month to approve tenants
0 votes
Ibuyhomesinfl, Both Buyer And Seller, Lighthouse Point, FL
Tue Aug 2, 2011
If there is a homeowner assn. involved, there is normally a application process for approval. Some assn won't let you rent right away. I have been a landlord for 15 years. Feel free to ask me any questions with any obligations, jehenley2@aol.com or 954 303 6736 Joan
0 votes
Ibuyhomesinfl, Both Buyer And Seller, Lighthouse Point, FL
Tue Aug 2, 2011
If there is a homeowner assn. involved, there is normally a application process for approval. Some assn won't let you rent right away. I have been a landlord for 15 years. Feel free to ask me any questions with any obligations, jehenley2@aol.com or 954 303 6736 Joan
0 votes
Ibuyhomesinfl, Both Buyer And Seller, Lighthouse Point, FL
Tue Aug 2, 2011
If there is a homeowner assn. involved, there is normally a application process for approval. Some assn won't let you rent right away. I have been a landlord for 15 years. Feel free to ask me any questions with any obligations, jehenley2@aol.com or 954 303 6736 Joan
0 votes
Andrew Muller, Agent, Weston, FL
Tue Aug 2, 2011
Hello Lynda!

To buy an investment property is easy, if you know what are you doing. If you are a seasoned investor, you will look into total cost and potential income.You may need a realtor if you want to save time and energy.
But every investment has a risk.If you not too experienced, you need a professional, who can advise you from the available properties, type of properties, potential costs involved, possible restrictions( ie, rental, age, etc) anticipated rental income etc. I did many transactions with investors and was able to help them rent out their place as well. A good Realtor able recognize your best options, have access to more information through the MLS then any other website you would have access to.You can make an educated decision once you know all the facts.
Call a Realtor whom you confortable with.

Sincerely,

Andrew Muller
Weichert Realtors, Best Beach Re.
C;305-343-1135, e-mail; amuller@bestbeach.net
2238 Weston Rd
Weston FL 33326
0 votes
Stefanie Coh…, Agent, Weston, FL
Tue Aug 2, 2011
Lynda,

If you are looking for a single family house, you should not have a problem. Condos and townhouse communities have more restrictions. It is always a good idea to check beforehand anyway if this is primarily for a rental. If the house is in a subdivision there may be some restrictions, but if there is not an HOA you should be just fine.

I would be happy to help you, as I do specialize in the area you are looking.

Best regards,
Stefanie Cohen, PA, ABR, SFR
Prudential Florida Realty
Scohen77@aol.com
954-547-9203
0 votes
Giuseppe Her…, Agent, Coral Springs, FL
Tue Aug 2, 2011
Good morning Lynda,

As a local real estate agent, I am familiar with all almost all of the single family home subdivisions and developments in the area. Yes, almost all of these single family home subdivisions and developments allow rentals. Some SFHs located within homeowner associations have restrictions though, but most are friendly to rentals.

I have helped many investors buy real estate, and I will be happy to offer you my assistance in finding and buying the right investment property. Please feel free to contact me, and we can go over all the details.


Thank you for your time, and have a great day.

Sincerely,

Giuseppe Hernandez, P.A.
Coldwell Banker
Realtor, GRI, (REOS), (ABR), e-PRO, SSRS
Over $60 million in sales since 2005
Mobile: 954-298-2376
Office: 954-753-2200 Ext. 3419
Personal Fax: 1-888-298-3919
E-mail: Joe@BuyWithJoe.com
License number: SL3113721
Web Reference:  http://www.buywithjoe.com
0 votes
Bill Eckler, Agent, Venice, FL
Tue Aug 2, 2011
Lynda,

As an investor, it would be wise to persue this cautiously because you will fing that some locations have not rental restrictions while others do. Condo living almost always involves rental restrictions while single family homes may or may not, depending on the community. I believe you will find a higher incidence of restrictions in gated communities than in non-gated communities.

Additionally, it is a fact that highly desirable rental areas allow owners to make as much(or more) on a 4 month seasonal rental as they would on an annual rental. With this said, the balance of the year leaves the property open for your use or for additional rental opportunities.

A careful evaluation of an areas rental traffic and desirability before purchasing would be advisable.

Best wishes,

Bill
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