What insurances are required for condo rental properties owned in Fort Walton Beach.. (Santa Rosa Blvd)

Asked by Todd Chamberlain, Knoxville, TN Fri Oct 5, 2012

This question is about this property: http://www.trulia.com/property/3022955155-1114-Santa-Rosa-Bl…

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Peter Mohyls…, Agent, Destin, FL
Sat Oct 6, 2012
The HOA on this property are 528.00 monthly. They included Accounting, Advertising, Ground Keeping, Insurance, Recreational Facilities, Sewer, Trash Disposal, TV Cable, Water. This was copied directly from the MLS. You might consider additional insurance on the contents after/when you buy.
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Lyn Woods, Agent, Fort Walton Beach, FL
Fri Oct 5, 2012
Hi Todd,

Since this is posted under Rental Basics, but the property you are inquiring about is a sale, this answer will assume that you plan to purchase the property and then rent it out.

Mike is right about the basic structure being covered under your association fees, but some condo associations require at least liablity to be covered under your own policy. Some lenders also require "HO6" content insurance. It covers "walls in" coverage that covers flooring, wall finishes, furnishings, and appliances and HVAC components.

If you are looking to buy a condo for either your own use or for rental purposes, I would consider using a "Buyer's Broker", that is, a brokerage firm that does not take any listings.

I own such a brokerage and I come with referances:

Lyn Woods
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Myke Atwater, Agent, Santa Rosa Beach, FL
Fri Oct 5, 2012
Hello Todd, it all depends on location with proximity to the water and elevation. Most condos carry the insurance and it is included in your condo fees.

If I can be of further assistance to you do not hesitate to call on me.

Myke Triebold, GRI, LMC, ABR, SFR
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