Buying a Home in the Keys and using it as a Rental-Part 2

 Buying a Home in the Keys and using it as a Rental-Part 2

When the home complies with all of the above and we have the signed contract, then it can go into the rental pool.SPECIFICS OF THE AGREEMENT

1 Coldwell Banker agrees to manage the home for a period of one year with the contract automatically renewing unless either side gives 90 day notice.
2 Our fee for vacation rentals is 20%---what is really important here are the following points.
• There are no hidden fees-such as credit card charges etc.
• We typically send you the money within 2 weeks of receiving it÷we do NOT hold it until the first of each month or split it out each month. We always collect cashiers checks from the renters so when the money is received, it is quickly processed through our main office and sent to you.
• There are no charges for going up on our Web sites÷5 in all.
• There are no charges for the pictures that are taken.
• There are no charges for any specific flyers, brochures or ads that we run on our rental properties.
• Please go to www.rentalsfloridakeys.com
• We actively and aggressively manage your home. Meaning we get the best customers (qualified) We play by the 2 people per bedroom limit, and we work to keep it filled other than your personal usage
• All of the computers in the 6 Coldwell Banker Schmitt offices throughout the Keys are linked. If a customer inquires about a home, it will show up on the rental agents computers.
• We have Handymen, Electrical, Plumbing, Landscaping, Pest control and appliance people that respond when there is an emergency.BOOKING THE HOME FOR THE OWNER.
This is very simple. You would call the rental manager and have him block out the home when you want to use it. We don't charge a fee for any of that. Generally you would have us arrange for the home to be cleaned after you leave.FLORIDA BED TAX Florida charges a 11.5% tax on all hotel, motel, home rentals. We collect the money from the tenant and disperse it to the tax agency.CLEANING SERVICE The tenants pay this fee which varies based on the size of the home. On average a 2/2 is $100 and a 3/2 is $125.00.PETS AND SMOKING If the home is no smoking, that is put in the rental file and the tenants are informed before they book the home. If the home allows pets, we collect a pet deposit which is added to the standard security deposit of $500How are emergency repairs handled?
• We have handymen available that can take care of small emergencies or updates, as the owner requires. Since our company manages over 300 rentals, we also have a good working relationship with Plumbing, Electrical, Appliance and Carpet, Tile people.What about Hurricane preparation?
• In the event of an impending Hurricane, the handyman or someone else can be hired to put up the storm shutters, bring in the lawn and patio furniture, etc for a fee-as we have too many homes for us to do them individually. This agreement should be set up in advance by the homeowner and the handyman. We will help you find someone to do this.What makes a good Vacation Rental
• A clean, well-maintained home on a canal or open water.
• Typically one of the bedrooms should have a set of twin beds if the renters are bringing children.
• Good linens and towels and a backup set. This is especially important for monthly renters.
• The washer, dryer and refrigerator should be newer if possible.
• A good Television hooked up to cable (about $35.00 per month) and a CD or tape stereo system.
• The kitchen must be completely outfitted. A microwave is also very important for renters.
• Patio and/or Lawn-Deck furniture. If there is an upper deck, a table and chairs plus loungers.
• On the water side, below a set of loungers and chairs.We get a lot of repeat renters÷if the renters have a good experience, they will come back. We see this especially with people that book two to three months a year.The Rental laws-what is going on in the Keys
• The Monroe County commissioners voted 4 to 1 about 4 months ago to overturn and rewrite the existing ban and allow weekly rentals. Recently a meeting was held where a proposed revision was discussed. It was deemed not acceptable and is being looked at again and will redone possibly by Mid April. There is also a chance it may come back allowing 14 day rentals which would meet everyone halfway.
• In the meantime the Keys are Incorporating and getting away from County Rule. This happened recently in Marathon and is on the ballot for November for most of the lower Keys Islands. What this means is that the Incorporated areas make their own rules as to rentals.Where do we get the renters
• If you're reading this on my web site you have the answer. If not most of our renters come through the Internet and one of our 4 sites.