Skip to content Sitemap

Blog

Collier County Could Face Stricter Short-Term Rental Regulations

On Monday, the Collier County Tourist Development Council voted that county staff take a deeper look at the rules and regulations of vacation homes and condos for rent within the local area.  This proposal comes on the heels of rising noise complaints, concern for the viability and health of Collier County neighborhoods, as well as the impact low-priced, “for rent by owner” vacation rentals may have on the local economy.  The study may aim to review whether rental owners are paying tourist taxes, and the impacts of short-term rentals on the Naples hotel industry.  “If you’re renting a private dwelling and if you don’t even have a fire extinguisher and a fire breaks out, people are going to be injured or killed, and it’s inevitable, unfortunately… That’s a major risk.” said Council member Clark Hill, general manager of the Hilton Naples.

One council member shared that he would rather see the current ordinances enforced prior to adding additional regulation.  For example, in many of the residential areas outside of city limits, owners are not allowed to rent their homes for less than six months.  Before listing your residential rental property independently, weigh out the pros and cons of choosing to list a vacation rental or annual rental. Leverage an experienced property management company like Gulf Coast Management Group.  Be sure that you understand the environment, regulations, and responsibilities required of you.  Annual property management is our specialty, call us for a free consultation, 239-325-4300.

 

Contact Us for more information on real estate investment opportunities in Southwest Florida.

  • This field is for validation purposes and should be left unchanged.

Build Out Your Investment Portfolio with Vacation Rentals

Naples Property Investment Opportunities

Fort Myers and Cape Coral, Florida recently came in at #2 fastest growing cities in Florida this year. We weren’t surprised. We have seen the recent surge in economic activity in our region. With Fort Myers boasting a population growth rate of 3.48% (which is higher than Orlando, St. Petersburg, and Tampa) Fort Myers shows no signs of slowing down any time soon as visitors continue to become residents.

In 2017, Lee County attracted 4.8 million visitors. Two-thirds stayed in paid accommodations and enjoyed visiting the beaches, dining out, relaxing, swimming, and shopping. In the United States, vacation rentals are now projected to reach $36.6 billion by the end of 2018.

Vacation home rentals can be a lucrative investment for both domestic and international buyers. Investors, consider the following:

 

Think Long-Term

Investing in vacation homes is just like investing in any other real estate venture—it’s generally a long-term investment—think 5+ years. Perhaps even consider it something you pass on to a family member or child, depending on your goals and objectives.

 

Location, Location

Areas like Fort Myers, Cape Coral, Sanibel Island, and Naples are consistently topping charts as some of the best cities to visit in Florida. Home prices have still not reached the point where they were before the financial crisis. So, the argument is that Southwest Florida is both a stable market and one expected to grow. There is opportunity for investors to take advantage of the prices in conjunction with the population and visitor growth.

 

Appearance Matters

If you’re buying a home to rent to vacationers, the home quality and décor is VITAL to your long-term success. Your guests need to pull into the drive, open the front door, and FEEL like they’re on vacation. Here’s why:

  • 74% of visitors to Lee County are returning visitors
  • 85% said their purpose for visiting was to vacation
  • Only a mere 40% said the quality of their accommodation exceeded or far exceeded their expectation

Only 40%—hello opportunity! Consumers have too many choices in vacation rental options—make yours one that they return to year after year.

 

The Right Management Company is Everything

As the service provider for the rental of your property, a management company can be the make or break of the success of your vacation rental property. You want to check your bank account each month and trust that your rental funds have been auto-deposited on time. Look for a company that has compelling and consistent marketing across multiple digital platforms.

Ask them how they will market your listing and their turnaround time!

As prices and demand continue to increase in Southwest Florida, investors have the opportunity to benefit from annual yields and future capital gains.

 

Contact Us for more information on real estate investment opportunities in Southwest Florida.

 

  • This field is for validation purposes and should be left unchanged.

WE’RE GROWING!

 

GULF COAST MANAGEMENT GROUP WELCOMES PATTY BRAWNER

We are so excited to announce that our Gulf Coast Management Group team is growing!

Patty Brawner joins us as a Licensed Real Estate Agent who has focused her career as a property manager. She comes with experience in both seasonal and annual property leasing, as well as large, luxury community property management. As a member of our team, Patty will focus on customer relations and property management. We are proud to have her with us to continue the Gulf Coast Management Group legacy of building long-lasting relationships through individual attention and high-quality service. Our goal is to provide peace of mind to our valued investor owners when it comes to the management of their investment properties.

Reach out at 239-325-4300, or by email at Patty@gcmg.biz, and join us in welcoming Patty to the Gulf Coast Management Team.

Nabor Market Report

First Quarter Housing Market Activity Sets Stage for Strong Year

Excerpts from First Quarter Naples Area Board of Realtors Market Activity

Tourism was up in our area this season compared to last year so it is not surprising that we would end with strong pending sales for the quarter,” said Kathy Zorn, President/Owner, Better Homes and Gardens Real Estate Pristine. “But I wasn’t expecting to see a 109 percent increase during the quarter in pending sales for condominiums over $2 million!”

There are very good investment opportunities in the condominium market, especially at both ends of the market,” added Coco Amar, a managing broker at John R. Wood Properties. “The top and bottom price categories are where both the inventory has grown and the prices have dropped.”

As reflected in the market’s year-ending statistics (12-months ending 1Q 2018 versus 12-months ending 1Q 2017), there was a 69 percent increase in closed sales of condominiums in the $2 million and above market, and a 17 percent decrease in its median closed price to $2,450,000 from $2,962,000 in 2017. Despite rocket sales in this high-end sector during the first quarter of 2018 (179 percent increase) and a drop in median closed prices for the first quarter (24 percent decrease), its inventory increased 5 percent! Similarly, median closed prices for condominiums in the $300,000 and below price category dropped 1 percent to $199,000 from $200,000 in the first quarter of 2017, but inventory increased 3 percent.