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Condo Living in Daytona Beach Shores - Renting Your Condo

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Real Estate Agent with FunCoast Realty & Management, LLC

Condo Living in Daytona Beach Shores - Renting Your Condo is the third post in the series. Previous posts: Condo Living in Daytona Beach Shores 
Condo Living in Daytona Beach Shores - Condo Versus Home

Condo Living in Daytona Beach Shores - Renting Your Condo is my third blog post in Condo Living in Daytona Beach Shoes series and it discusses renting a condo.

With majority of the condos on the Beachside of Daytona Beach Area being a vacation or second properties it is only natural that a lot of owners seek rentals to help them pay for the maintenance fees and the taxes for the condo. I want to look at the specifics of renting a condo in the Daytona Beach Shores as I do manage some units here and have a first hand experience of working with the landlord and the tenant.

  There are two types of rentals: long term and short term (or vacation rentals). Depending on the restrictions set in the Rules and Regulations you may have little choice in the manner you are going to rent your condo when you are not using it. Most of the Condos on the beach have 2 or 3-month minimum period for rental. That limits the owners to 4 or 6 times a year when they can rent their units out. With Daytona Beach Shores being very seasonal you have to know when tourists are coming here so you know the times when your unit is going to be in demand. There are also special events to consider for they draw large crowds.

  If you are planningon having your unit rented for a short term and Condo Rules allow for it you may want to set your condo as a vacation rental and have it marketed as a week-long or 2 - week long rental. You would also want to make sure that you have special events like races and bike weeks open for rentals for that is a good chunk of your income. It seems that shorter periods are popular among tourists in the Summer and longer periods of 2-4 months are very popular with the snowbirds in the winter. Vacation rental condo has to be set up as a getaway place with everything ready for the tenant, from towels and linens to dishes and silverware. Condo has to be complete and ready to just walk in and start your vacation.

  With long term rentals you really do not have to do much except making the condo unit presentable, clean and functional. 99% of long term renters will bring their own furniture. The drawback - you do not get to enjoy your property for your own vacation.

  Management fees that agnets charge vary depending on the length of the rent and whether it is a short term or a long term rental and they also depend on the company policy, where some companies charge upfront fees, etc. Management companies charge initial set up fee for advertising and the set up in a lot of instances. In short term rentals guests are charged the sales tax and cleaning fee.  

This is a synopsis of the rental process and slight intricacies of the vacation rentals and long term rentals of the Beachside Condos. There are other issues like pet policy, noise ordinances or even whether tenants are allowed to use some of the facilities in the condominium. Different condos have different policies in place.

If you plan on vacation in Daytona Beach Shores or you already own a condo in Daytona Beach Shores and would like us to find you tenants, contact me at any time and I will gladly help you. 

Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Bike week is a great time to get a top price for your unit. Bikers are generally great renters and pay top dollar for units and sell out the area. Good blog post.

Aug 20, 2009 03:18 PM
Bill C. Merrell
Merrell Institute ~ Appraisal Education Network - Bohemia, NY
Ph.D. - Merrell Institue

I am impressed by the information.

Thank you for sharing this information.

I enjoyed the article- Keep them coming. I am tempted to rent i this area.,

It looks beautiful-

All the best.

Bill Merrell  www.merrellinstitute.com

Aug 20, 2009 03:20 PM
Vadim Zolotarevskiy
FunCoast Realty & Management, LLC - Daytona Beach Shores, FL

Thank you for your comment and you are right, with speed week thoser are the highest grossing events in Daytona Area and perception of the bikers is not accurate when it comes to people renting Condos for that time. Majority are wel educated professionals in their 40s and 50s that just come to relax for that week and get away from the cold so they can get some riding done.

Aug 26, 2009 08:14 AM
Vadim Zolotarevskiy
FunCoast Realty & Management, LLC - Daytona Beach Shores, FL

Thank you Bill, always nice to hear that something you wrote is of value to someone else. Will keep you posted here. And if you are intersted in renting you can always contact me here. Enjoy your weekend.

Aug 26, 2009 08:15 AM
Diane Rice
Rice Prprty Mgmnt & Rlty, LLC, South Holland, IL - Lansing, IL
SFR, SRES, CNC

Indeed - this information and the format it's written in is very impressive and i'm sure helpful to those desiring to rent out their units, and for those seeking one.  Good share - thanks for posting it in the Property Management group 

Aug 28, 2009 10:39 PM
Vadim Zolotarevskiy
FunCoast Realty & Management, LLC - Daytona Beach Shores, FL

Thank you for your comment, alwasy appreciated and I do hope it is usefull to those interested in renting.

Sep 01, 2009 04:02 PM