Destin Palms Real Estate shares their knowledge

Today Destin Palms Real Estate is providing advice for those frequently asked questions regarding real estate, vacation rentals and property preservation.

Dear Paul & Tina,

I am thinking about buying a vacation condo and renting it out. Should I pick one out that I like and then try and get financing or should I go to my local bank and see how much money they will lend me?

From,

New to the Second Home Market.

Dear New,

Congratulations on investing in your future. Buying an investment property makes sound financial sense for most people. Before shopping for your dream property, I recommend you find out how much you can afford. Go to your bank, or if you don’t have a lender, we can recommend one and see what your credit score is and how much of a mortgage you can comfortably afford. At Destin Palms we can walk you through this process to make it easier for you.

Paul & Tina Couch

Senior Partners, Destin Palms LLC

Dear Paul & Tina,

I inherited my grandmother’s condominium and plan on renting it out as I do not live in Florida. How much should I pay a rental company to manage my property?

Signed,

Big Inheritance with Big Questions

Dear Big,

We are going to turn this question over Jessica Forrester, who handles the Destin Palms Vacations program. 

Paul & Tina

Hi Big Inheritance ,

How generous of your grandmother to leave her estate to you. At Destin Palms Vacations, we charge 20 percent of the gross income generated by renting out your property, as a management fee. Keep in mind, you are still responsible for property taxes, HOAs, maintenance costs and any mortgage payments you might have.

Jessica

Dear Paul & Tina,

I just bought a vacation home in Miramar Beach and plan on being there two or three months year.  I do not want to rent it out but I am concerned about leaving my house “abandoned” for the rest of the year.  Short of calling the sheriff to check on things, or bothering my neighbors to keep an eye on it, is there any service that will inspect your home?  I worry about mail or fliers being left around.  I wonder if the lawn service I hire really shows up.  What if a pipe bursts? Help!

Signed,

Worried in Wisconsin

Dear Worried,

Relax!  We have you covered. Glenn Forrester heads up our property preservation and home watch program and he does exactly what you described. We will let Glenn weigh in here.

Paul & Tina

Hi Worried in Wisconsin,

We hear you loud and clear and you are not alone. I have numerous homeowners that have signed up for our home watch and it includes everything you mentioned in your letter and more. We make sure your lawn and pool are properly treated and if you do not have a lawn or pool service, we will take care of that for you. We check the interior of your home at regular intervals so make sure there aren't any problems. The frequency of our visits is up to you, so there is no longer a need to worry.

Glenn