Jane & Alan LaFrance
Home Buyers Guide Next to Disney
Top Questions Asked by 2nd Home Buyers Near Disney World
Short Term Rental 101
Quick Facts
Location
There is only a select area near Disney World that allows Short Term Rental.
Mortgages
We know the best type of mortgage you should apply for short term rental home purposes and we have solid contacts if you need to talk to someone.
Licensing
A short term rental home needs to be licensed, 1st year is a $250 fee and only a $50 fee to renew every year after. We can help.
Occupancy Tax
The State of Florida requires short term rental owners or their property managers to collect a 7% occupancy tax ( or rooms and board tax ) from the vacationers when they take a booking, this is not an expense to the owner.
Busy Season
The busiest rental time of the year prior to COVID was the Summer time, post COVID its been busy all of the time.
IRS Clearance
Foreign National home sellers will have 15% of the sales price held for a period of time ( usually 3 months ) while the IRS checks to be sure all US taxes have been paid. If you paid your taxes the whole 15% will be released. We will help when you list your home with us.
Extra Fees
Zillow and other home search engines do not post some CDD fees that certain resorts charge owners, only a small # of resorts have a CDD, we know which ones they are and the cost related to that resort.
Short Term Experts
There are many residential Realtors who claim they are the area experts on the internet but in the short term rental arena you now know more than they do.
Property Management
There are over 200 property management companies that serve the Disney area.
Insurance
Home insurance with an umbtrella policy for short term rental is needed but the cost is not much more than a regular policy, we have a solid agent to talk to.
Top Resorts
If you took a Day to search the internet you might find 50+ resorts near Disney, we only recommend 18 for various and what we think are good reasons. Do not buy in the wrong one.
County Taxes
The County where the short term rental home is located guests are also required to pay a County occupancy tax, in Osceola County which is closest to Disney the tax is 6%, in Polk County which is next to the closest it is 5%. This is not an expense to the owner.
Foreign Nationals
Foreign National home buyers need to open up a US bank account with as little a $100, to open the account all you need is to show your passport ID. Before or after you've made an offer that has been accepted you must apply for a Tax ID before going home. It's a short application, we can help.
UK Buyers
UK buyers and sellers need to understand the America Real Estate Sales system, it is a co-broke system, most of our UK buyers love it, 1 agent can show and sell any home in Florida at no cost to the buyers. Most of our UK sellers also love our system, 1 agent posting their home on the Realtor's MLS ( on-line Multiple Listing System ) where hundreds of other agents get the home's details and shares it with their buyers to produce the best offer.
Condo-tels
Many buyers searching the internet for a condo get mislead believing a condo-tel ( Condo Hotel ) is the same as a condo. They look and physically are the same but a condo-tel is a pure investment entity that depends on the Hotel management in place to manage, maintain & market the unit for short term rental purposes but owners have limited usage of the unit and it isn’t a fee simple product ( real property ) where you own it. A condo is a fee simple product ( real property ) where the owners choose to do with it what they want within the condo association rules and regulations, they can use it anytime, furnish it anyway they like and choose any property manager they like if they plan to rent it or not have one in place at all if the buyer is purchasing the condo for only their use.
You’re in good hands
Sell your property through Jane & Alan
Sell your Disney-area house easily with our expert real estate services. We handle marketing and paperwork to maximize your home’s value and ensure a smooth sale. Contact us to avoid the stress of selling your home.