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Buying Property in Florida for Long Term Rental income In theory the financial advantage or disadvantage  of long term rentals against short term rentals is  fairly straightforward - between whether or not a property will bring in more income at a lower cost  over a year with a long term rental in place than with holidaymakers renting for one or two weeks at a time throughout the year. However in Florida zoning laws can be the deciding factor as to which option you may chose. These laws determine whether there is a minimum time a property can be rented out for - it may be 4 times a year - 12 times a year - monthly, fortnightly or indeed any time limits or no restrictions.  These zoning restrictions vary between Counties, some have few restrictions and thus allow short term rentals others do not allow rentals for less than a month. Additionally just to complicate matters individual developments may have their own rules which can be harsher than the counties - so simply because a county has no restrictions, does not mean short term rentals are allowed. Experience has shown many British buyers are given incorrect information onthis point and sometimes as a result have had no option other than to sell their property at a loss. Long Term Rentals The sheer number of British and Irish property buyers over the past couple of years in the Orlando area and the rapidly increasing number of rental properties, condos, apartment resorts etc has made the market for short term holiday accommodation increasingly competitive. Take a look on the web and view the sheer number of short term Orlando rental properties available. Do not expect to be given this viewpoint when talking to a sales agent in the UK or the USA - they are oftem more concerned about making a sale!  At this time with an oversupply of short term rental properties in certain areas and some owners, (particularly newer ones) struggling to obtain enough holiday rentals at a price which covers their expenses – mortgage payments, taxes, insurance etc. it is clear to see advantages with certain long term rental properties. For those of you considering buying property in Florida to use eventually as a second home at retirement, or as a medium term investment and wishing to buy now before prices start to rise again or to buy whilst the dollar is relatively low, a long term rental property (rented for a year at a time) in a suitable location can have advantages. Ideally areas with good schools and services, job opportunities and possibly a nearby College will always require rental properties and will make life easier when you decide to sell the property at some later date, whereas short term rental properties are more dependent on the vagaries of holiday demand.  A word of warning, if  you are thinking about buying a long term rental property in the current property market beware some of the properties agents may identify, there have been a number of instances where the properties are over priced or unsuitable - seek independent advice first. Another advantage, more of your money can go into an appreciating asset - the house - as there is no need to buy a furniture package which depreciates anyway or indeed a pool - as long term renters tend to have their own furniture and often do not require a pool. Although the weekly rental rate will undoubtedly be lower for a long term rental property than a short term rental property bear in mind savings on furniture, management costs, TV and telephone rental plus 52 weeks of income rather than between 15 and 35 and of course less stress as you do not constantly need to generate those holiday bookings. A number of British buyers of property in Florida already own properties in the UK which they rent out on a long term basis so they feel more comfortable and familiar with this form of rental, the accepted format for payment is the first and last months rental paid at the commencement of the tenancy with a months rental as deposit – payments are at the beginning of each month and in the rare event of arrears the legal process is relatively straightforward. However a long term rental may not be the answer for those of you wanting to enjoy the property yourselves during holiday periods, as it is rented year round and there will be no furniture –(unless you bring sleeping bags!). in this case a short term rental property in an area where there is a shortage of such properties and where both seasonal American vacationers stay throughout the winter and Europeans stay in the summer may be the answer, the Gulf and Atlantic coasts with far fewer rental properties, appeal to both the European and the American markets, offering the owner a higher rental rate and more weeks of bookings Investment in the right type of American property can provide an excellent return on capital and provide your financial portfolio with dollar exposure. It is important your agent has extensive knowledge of property investment trends over a wide range of areas as well as the relationship between foreign currencies and world wide economic trends. Can your agent analyze the merits of investing in the British housing market as against the American one? Long term rentals allows you to invest in a dollar property (at a time when the Pound and Euro are very strong which means you can buy a lot of house for your money), you have your tenant’s payments tied to a twelve month contract, and you do not necessarily have to furnish the property, or pay for all the costs associated with short term lets.If you would like to be advised on Agents with a good track record in dealing with British buyers we can supply a list. ________________________________________________________________________ For further information on how to obtain specialist advice on relocating or buying property in Florida, the advantages and disadvantages of different locations, and importantly How to obtain details of  specialised fully licensed Real Estate Agents, experienced in explaining options from a British perspective. Click here   Thinking about buying a property in Florida - click here   Thinking about selling a property in Florida - click here   Thinking about emigrating to Florida - click here   Just want to be sent details of suitable agents with excellent testimonials and a proven track record of working with British buyers – click here Just want details of every available property in Florida – click here   Andrew Bartlett an acknowledged expert on property trends and relocation in Florida, writes articles and answers readers’ questions for several British publications including Florida Magazine, Escape Magazine, Place in the Sun, Sunday Times, America, and The Red guide to buying Property in America and is regularly consulted by journalists and broadcasters. His consumer web guides have received numerous accolades.   Andrew was a Senior Government Official for 20 years before relocating to Florida several years ago where he was headhunted to set up specialist British property and relocation teams for Coldwell Banker and Remax - America’s largest estate agents. He then established a uniquely impartial and independent relocation and property briefing company working between Britain and Florida. He has written a number of watchdog style articles on overseas property and emigration selling techniques.