Monday, September 28, 2020

Condo Rental Periods

CONDO REPORT


Apollo on the beach allows weekly rentals. Submitted Photos

Apollo on the beach allows weekly rentals. Submitted Photos

Last week 408 condos were listed for sale on Marco Island. One of the considerations when buying a condo is how often you may want to rent your condo during the year and the minimum number of rental days allowed. Many new buyers rent their condo for a few weeks or months during the early years to help offset annual operating costs like taxes and condo fees. Over time they spend more time on the island and

 

 

the choice to rent it may subside. People choosing this option generally buy condos that can be rented for 30 days or less several times a year.

Marco Island has 160 individual condo complexes with 10,428 condo apartments. One hundred sixteen of them allow 30-day minimum rentals, and 21 of them allow weekly rentals. Eleven have a minimum 90-day rental period. Only five allow daily rentals; Three allow 14- day minimum rentals; Two have a 60-day minimum policy

Pavilion Club allows daily rentals.

Pavilion Club allows daily rentals.

and two condos specify a 365-day minimum rental period.

Last week eight condos were for sale that allow daily rentals, including the Beach Club, Coquina Gardens, Marco Cat Penthouses, Mutiny and Pavilion Club.

Seventy-one condos listed for sale have seven-day minimum rental periods. These include the popular Apollo, Angler’s Cove and South Seas Towers 3 and 4.

Two condos were for sale that allow 14-day rentals, including Southern Breeze Gardens and Swallows.

Two hundred sixty-seven condos were for sale last week

Madeira has a minimum rental period of 365-days.

Madeira has a minimum rental period of 365-days.

with 30-day minimum rental periods. These include familiar names like Aquarius, Commodore Club, Eagle Cay, Gulfview, Riviera, Seabreeze, Seabreeze West, South Seas Towers 1 and 2 and Vintage Bay.

Eight condos were for sale at Crescent Beach and Monterrey. Both of these condos allow 60-day minimum rentals.

Forty-eight condos were for sale with 90-day minimum rental periods. Included in this group are Belize, Veracruz, Tampico and Cozumel at Cape Marco and the Prince, Princess, Duchess and Summit House just

Seabreeze West allows 30-day minimum rentals, 12 times per year.

Seabreeze West allows 30-day minimum rentals, 12 times per year.

south of Residents’ Beach.

Two condos were for sale with a minimum 365-day rental period – one at Royal Marco Point 1 in Hideaway Beach and one at Madeira.

It is important to understand the minimum rental periods and the number of times a year you can rent the condo before you buy. You can choose to rent your condo on popular sites like VRBO.com or hire one of the professional and reputable rental agents on the island to handle all the details for you.

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