What cost's can I expect when I run a short term rental home
Monthly Villa Maintenance Charges (Generaly irrespective of size of villa)
These maintenance charges are made up as follows:
Garden & lawn irrigation maintenance - $ 70
Pool maintenance - $ 80
Pest control (interior & exterior) - $ 35
Air conditioning maintenance - $ 20
Management company fees - $100
Total Monthly Charge - $305
ANNUAL CHARGE THEREFORE = $3660 (Most any size home)
Annual Fees
Real Estate Taxes - $ 291.estimate
Property Insurance - $ 121.83
License fees - $ 100
Total Monthly Cost - $ 512.83
ANNUAL CHARGE THEREFORE = $6153.96
Real Estate Taxes - $ 291.estimate
Property Insurance - $ 121.83
License fees - $ 100
Total Monthly Cost - $ 512.83
ANNUAL CHARGE THEREFORE = $6153.96
Monthly Utility Costs (Bassed on my 3 bed villa Jan-May 08)
Cable TV - $ 50.55
Electricity - $168
Water - $ 95.85
Telephone - $ 30.28
Total Monthly Cost - $344.68
ANNUAL CHARGE THEREFORE = $4136.16
Cable TV - $ 50.55
Electricity - $168
Water - $ 95.85
Telephone - $ 30.28
Total Monthly Cost - $344.68
ANNUAL CHARGE THEREFORE = $4136.16
Other Monthly Costs
Wear, tear and running repair - $ 75.
Promotional costs - $ 20.
Total Monthly Cost - $ 95.
ANNUAL CHARGE THEREFORE = $1140.00
Wear, tear and running repair - $ 75.
Promotional costs - $ 20.
Total Monthly Cost - $ 95.
ANNUAL CHARGE THEREFORE = $1140.00
The annual costs shown add up to:
3-BEDROOM HOME
Villa Maintenance - $3660.00
Utility cost - $4136.16
Annual Fees - $6153.96
Other Monthly Costs - $1140.00
TOTAL $15090.12 / 12 Month =$1257.51 per month
3-BEDROOM HOME
Villa Maintenance - $3660.00
Utility cost - $4136.16
Annual Fees - $6153.96
Other Monthly Costs - $1140.00
TOTAL $15090.12 / 12 Month =$1257.51 per month
I hope this guide will help in your decision to buy a vacation villa in Florida
My Villa rents for $700.00 per week so if I get 2 weeks a month bookings then I can break even comfortably.
Should you be planning on buying an apartment / condo /townhome then the cost should be less certainly on the utility’s. The fees will vary by what the HOA does for you but the management fee would be the same as it involves the same .
The $100.00 management fee is the same for all types of property as it involves the same 24hour on call and visits to the site to keep any eye on things, change light bulbs, air con filters make sure the guest has not smashed the place etc.
The reductions would come by no lawns or pool guy the real advantage of a condo / apartment is the original investment is less but the running cost do not change substantially. (except when pool heaters or pumps etc need replacing.)
Oh and don’t forget to include any mortgage cost in your sums.
We will be pleased to help you buy or manage your home just send us your questions.
FL Villa Management.LLC
My Villa rents for $700.00 per week so if I get 2 weeks a month bookings then I can break even comfortably.
Should you be planning on buying an apartment / condo /townhome then the cost should be less certainly on the utility’s. The fees will vary by what the HOA does for you but the management fee would be the same as it involves the same .
The $100.00 management fee is the same for all types of property as it involves the same 24hour on call and visits to the site to keep any eye on things, change light bulbs, air con filters make sure the guest has not smashed the place etc.
The reductions would come by no lawns or pool guy the real advantage of a condo / apartment is the original investment is less but the running cost do not change substantially. (except when pool heaters or pumps etc need replacing.)
Oh and don’t forget to include any mortgage cost in your sums.
We will be pleased to help you buy or manage your home just send us your questions.
FL Villa Management.LLC
Here is an estimate:
You will need to cost out your particular home as costs may vary by location etc.
You will need to cost out your particular home as costs may vary by location etc.
Link to tax help forms for Paying STR TAX