Benefits of Owning a Vacation Rental in Summerland Key
There are several compelling reasons to own vacation rental property just about anywhere, but the Florida Keys make it all the more convincing.
By: Coldwell Banker Schmitt Real Estate
Schmitt in Key West. When you own a vacation rental house, you have a number of benefits that come in both tangible and intangible forms. This is why so many wealthy investors choose real estate as part of their portfolios. Read on to learn more about the advantages of owning a vacation rental in Summerland Key.
The benefits of owning a vacation rental property in Summerland Key start with some obvious ones, also others you might not think of first. Owning real property in such a gorgeous, highly desirable area is an obvious one. There are at least a few subtle yet good reasons to own real property in the Florida Keys.
Located to the south of the mainland peninsula of the Sunshine State, the Florida Keys boast one of the best climates in the country, indeed in the world. Here, the islands are surrounded by two beautiful bodies of water -- the Atlantic Ocean on one side and the Gulf of Mexico on the other. Here are some of the biggest advantages of owning a vacation rental property in Summerland Key:
• Property appreciation. As you might imagine, the appreciation rate in the Florida Keys is quite substantial, particularly compared to the rest of the peninsula. Investors enjoy a strong return on investment in their houses.
• Equity building. The longer that you own property in Summerland Key, the more the rental income amortizes the mortgage loan and therefore, increases the amount of equity in the property.
• Premium rental rates. Because of its location and weather, you are able to charge a higher amount of rent for both long and short-term leases. This creates a revenue stream that not only helps to pay off the property, but funds expenses, such as repairs, replacements, and improvements.
Lastly, a nice perk of owning a vacation rental property means that you have a dedicated place to stay whenever you want to get away. You don't have to worry about finding accommodations or paying room rates no, because you have a dedicated home away from home to enjoy at your convenience. Fred Mullins, P.A. holds an MBA, B.S., real estate license, United States Coast Guard Master Captain's license and commercial pilot's license. With over 20 years of cross-functional experience in real estate, international asset management, and construction management, Fred's experience places him as one of the top real estate professionals in the Florida Keys. www.lowerkeys-