All Forum Posts by: Kim Meredith Hampton

@Chase Leavitt Makes sense to enter Florida. Of course we all know your larger MSA’s like Tampa, Orlando, Jacksonville make sense, but most are overbuilt and land is expensive. 

Best idea is to look at the tertiary markets just outside of these MSA’s; Pasco-just north of Tampa and easy via the Suncoast Parkway to get to almost anywhere. 

Polk County in between Tampa and Orlando, prices and taxes are less expensive and more land available. 

Riverview right outside of Tampa 

North/NE of Tampa is Dade city, seems to be a tertiary market that will be next to take off 

Hope these help. Happy to chat, I also work with hedge funds, and have done so since 2009

@Bill Ward Bill, thanks for my morning laugh!!!! You can not make up our life in property management even if you tried, I always swear that I am going to write a book about my last thirty years in this business.

You did the best job you could given the circumstances. You must protect your home and tenant from water intrusion etc...On the other hand, tenants are allowed quiet enjoyment as well. I think by giving her back the security deposit was a great idea, but that is for after she has vacated, she was obviously expecting to get that back upon vacating the property, She was looking for FREE rent, not you giving back her deposit in lieu of. You could tell that in lieu of paying next months rent, she is all set to go and happy riddance. Same thing, you are just doing it in a different way. Try that tactic instead and see if it calms her down.

@Mag Chan Depends on what your management agreement spells out. Some do charge extra to pay utilities, HOA, taxes, insurance etc….

@Patricia Steiner

We have to meet, I love your answers!!

Quote from @Nathan Gesner:

Quote from @Colleen F.:

@Nathan Gesner   I believe kim is refering to "transient rental accommodations" as discussed in FL tax law  gt800034.pdf (floridarevenue.com). Not sure if there is more to it but you need to remit STR taxes and I believe have a rental license in FL when renting for under 182 days. That is why it is so important for people to know local laws.

Is that for tax purposes? Anything over 30 days is still considered a long-term rental and abides by long-term rental laws, lease agreements, etc.?

In Florida, if you charge guests for accommodations for rental periods of six months or less, you're considered a transient rental accommodations provider and legally required to register with the Florida Department of Revenue for a sales tax certificate.May 10, 2022

gross

Good luck Robert!

Not sure about your area, but Florida is anything under 6 months and 1 day is considered short term. Look up your statutes unless someone can give you a heads up from your area

Robert,

I doubt that they will be able to get this approved, especially because its single family residential. They will need architectural drawing etc...other than that, you will most likely need to turn it back into a single family. Its tough out there right now with permitting. Out Tampa Bay region has grown so much over the last two years, that code enforcement and permitting are ramping up the fines.

Grant

Iv'e done the same thing for senior living. Definitely not for everyone, but an awesome idea for affordable or attainable housing.