Buy to let zones
Unless you are buying a home in Florida to relocate or to keep for your own personal needs, you will be looking for a home with good rental potential to offset some of the costs of purchase and maintenance. Like buying in the UK, a home purchased in the right location, with the right amenities and priced right will maximize your profits.
buyright florida ltd know the areas of property development very well having assisted many UK citizens purchase property in the Sunshine State, to fit their pre-determined needs. We also know the areas that are Hot right now and the areas set for growth in the future of the sunshine state.
Short term rental zones
If you wish to rent your home on a nightly, weekly or monthly basis, it will need to be registered with the state and issued with a license. BRF will pre-inform you of the homes and developments that are short-term rental capable. We will introduce you to management companies on or off site that will license your home for you and provide a full and extensive range of services for running and maintaining your home to a very high standard.
Over 90% of homes available in central Florida will not be able for short term licensing. BRF will present you with a host of re-sale and new build developments that are available for short-term rentals, if that is your requirement. In general these homes are to the south of Disney World but cover quite an extensive area. One type of property that gets around the standard short term zoning are, Condohotels that are generally freehold apartments with the whole resort licensed as a hotel. This often allows very little competition from other short term rental developments nearby.
Long term rental
Many of the purchasing principles apply to homes purchased for short- term rental as they do here, except that if you rent these homes, you may do on generally a minimum lease of six months. Longer term rentals in communities with good history or potential for leasing, provide good investment choices for investors looking for a pure investment, or to buy now with a view to getting on the fast appreciating property ladder with a view to using their home later.
It is our role to find the best solutions that meet your individual needs and present them to you for your own choices. Our excellent staff will talk through this process with you and discuss your individual investment needs and goals. Many of our portfolio investors have a mix of homes that are short and long- term rental zoned.
Below we break down the general property types available in Florida today and coming tomorrow:
 Property Types:
Single family pool home
The ultimate in luxury and living for vacationers with larger parties or wanting more space. These homes range in size from 3-6 bedrooms and are open and spacious for the true Florida living feel. Most rooms lead to a large focal point pool and recreation deck that has a full size heated swimming pool and often comes with the option of a spa. A great choice for families on vacation as an alternative to hotel rooms or suites.
Homes purchased in gated or planned communities are proving to be more popular and providing greater re-sale values.
Townhome
Usually found in communities or resorts with more communal amenities. These homes are now becoming available with small pools and Jacuzzi built in and great resort facilities such as beach pools, clubhouse, gym, sports facilities etc. Maintenance is usually part of the resort fee and therefore less concern for the homeowner. Provides quite large living space in a semi-detached home of 2-4 bedrooms with 2-3 bathrooms.
Condominium
The smallest sq ft in general, but also the lowest cost to purchase and maintain. The condo is a great American institution and is in great demand by north Americans who like the community living and hassle free maintenance they provide. When purchasing a condo for investment and vacation purpose the resort facilities are extremely important. Condo's have shown good levels of appreciation over the past few years, with many having luxury interiors and being built in great locations
Homeowners Association
When a number of people own land or buildings in such a way that they have exclusive use of part of the property ie their own pool home, townhome or condo, but shared use of the rest of the development such as communal pool, clubhouse, gated entry etc, than a home owners association is created.
This will result in owners paying a monthly fee, which can be offset in the rental charge to guests, but which pays for the upkeep of the community and services. We have found that homes purchased in developments with this arrangement, look better long term and therefore have more appeal when one decides to sell.
Property Management
With owners being over 3000 miles away from their properties, we understand that a quality management service is required by our home owners. Property management companies offer an excellent range of services that include the following :
- Weekly pool cleaning and lawn care services
- Villas serviced and cleaned after guest departure
- Household bills paid from client escrow account
- Monthly pest control spraying
- Monthly sales taxes filed
- Take and provide bookings for rentals
- Provide monthly statement of account
- Prepare annual statement for USA government tax return
- Provide guest home entry on arrival
BRF will refer a host of property management companies for you to choose from. We will also provide you their current rating as provided by owners using their services.
Much of the trend going forward seems to be towards fully managed service resorts, whereby the developer sells their homes fully furnished and with the option of on site management, concierge services and full sales and marketing travel services for your home. Even the long term home resorts are offering this service with the employment of an on site leasing company, which is proving both successful and convenient for property owners and guests alike.
The key to long-term success here will be to pick companies with a track record in sales, marketing and resort management. BRF will provide you with as much information as possible on these resorts as they are released. Sign up to our "Property Alert" to keep yourself updated.
Condo hotels - RECEIVE RENT REVENUE, APPRECIATION
One of the newest and most popular real estate choices in recent years is a condo hotel. The concept originated with Miami Beach condo hotels but now has extended to other parts of Florida as well as Chicago, Las Vegas, Canada and Europe.
Essentially, you can purchase a condo hotel suite in a world-class hotel or resort. Use it whenever you like. When you are not using it, place it in the condo hotel's rental program to receive rent revenue.
A condo hotel unit offers the best of both worlds - a wonderful vacation home originating in a fantastic U.S. destination like Miami Beach or Las Vegas and now Orlando. This is an investment with great potential for appreciation. There have currently been six condo hotel resorts sold and all units go quickly at release with amazing appreciation shown before build.
CONDO HOTEL PROPERTY LISTINGS
To best serve our clients throughout Great Britain, we at Buy Right Florida have established a relationship with the #1 company for information and listings of condo hotels in the U.S. That means we can:
- Alert you to new properties
- Send you a complete listing of properties which meet your needs
- Give you a competition summary of all condo hotels
- Negotiate the best price
- Assist with condo hotel financing
Contact BRF to discuss this burgeoning real estate phenomenon that is hitting the US real estate market. Let us help you know about property releases before many of your competitors and ours have a chance to reserve contracts.
Disclaimer:
Buyright Florida Properties offers no financial, legal or taxation advice. We sell real estate in the USA through links with developers and real estate agents. All our clients are requested to seek their own independent financial, legal and taxation advice before purchasing a property, and in doing so will conduct their own financial due diligence towards the purchase. Our company or its employees or agents do not offer financial products or advice, but offer access to property purchase opportunities and third party agents through a referral process.
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