Should you rent out your Florida Retirement Home?
Jul 19th, 2009 by admin
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Many individuals have a strategy of purchasing a property in
If you think that rental income from your eventual Florida retirement home will help pay for it, you may want to think twice.
Today’s economic climate has depressed the number of would be renters moving into Florida.
Additionally, many retirement homeowners associations are restricting the ability of owners to rent out their units or homes. Sadly, many renters have little interest in maintaining a property to the standards that an owner has, and thus can potentially degrade home values in a neighborhood.
Many lending institutions are also weighing in on this subject by restricting loans to Florida condo projects where many units are rentals. Fannie Mae and Freddie Mac refuse to underwrite mortgages in condo projects where a majority of units are rentals.
The battle lines are drawn between owners who need to rent to forestall foreclosure proceedings, and those who want to maintain a community where the residents are the property owners.
In the newly updated, August 2009 edition of “The Florida Retirement Book – An Insider’s Guide” we address this issue in more detail, along with dozens of timely topics critical for individuals investigating a move to the gorgeous Sunshine State.
For more assistance on retiring in Florida, refer to the most authoritative and up to date resource on the subject.
Take advantage of special new edition pricing and read it cover to cover RISK FREE by clicking the book below or visiting Florida Retirement Info:
