We are offend asked, what is the rental history for this property? Or what are the expected rental income and expenses related to owning a vacation property in the Orlando area. Vacation homes in communities that provide the best amenities (resort style) tend to rent out at higher rates (offsetting higher HOA fees). Typically, the communities with higher HOA fees offer better amenities. While this may appear your best move at first glance, the opposite may be true. Your first instinct might be to bypass communities with higher HOA fees for ones that are lower. While looking through listings of vacation homes for sale, you may notice that HOA fees can vary significantly. During your initial online search, you can view the listing details, which may show some of what’s included in the HOA fee but keep in mind, it is your responsibility to review the HOA documents for yourself. Without checking these documents yourself, you could find yourself with something unexpected. It is a best practice to request and review a current set of Covenants, Conditions, and Restrictions (CC&Rs, also called the HOA Documents). Some HOAs will include much more, so understanding the fees and what’s included must be considered and understood case by case. In most cases, the Homeowners’ Association (HOA) fee will cover the maintenance of the shared spaces within the community, including the grounds, community pool, and other shared areas and amenities.
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