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The following are approximate monthly costs associated with owning a short term rental home in Florida:
Mortgage:
Depends on the price of the home and the amount of the down payment.
Homeowner’s Association Fees:
Depends on the community. Some communities have no homeowner’s association fee. The ones that do range from $10 per month to in excess of $300 per month. It all depends on the amenities that the community has to offer. The more amenities there are, the higher the fee.
Management Company fees:
20% of bookings are taken by management company if they supply the booking.
If owner finds booking only a $25 fee is taken by management company.
$100 monthly fee to oversee any problems/ guest issues.
Utilities, etc.:
Electric: $250-$350 per month depending on usage and whether the pool heat is on.
Water: $50-$70 per month depending of whether there is grass to irrigate.
Cable, phone and Internet: $120 per month.
Pool and yard maintenance: $150 per month.
Pest control if desired: $30 per month.
Police monitored security system if desired: $30 per month.
Short Term Rental License:
$30.
Government Taxes From Bookings:
7% state sales tax.
6% county tourist tax.
*Please call us or email us with any questions*
Mortgage Application - click to find out the monthly payment of your future Florida home!
Short Term Rental Application - click to apply for a short term rental license!
Contact me for more information.
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