Florida Vacation Rental and Timeshare Rental Not Seeing Eye to Eye

Vacation rental, as you can imagine, is big business in Florida. Many absentee property owners buy a vacation or holiday home in Florida, use it for their own vacationing, and arrange for its rental management the rest of the year, through a realtor or other management agency.

And while this can be a good deal for both the property owner and those seeking to vacation in a space larger and with more privacy than most hotel rooms offer, it is also complicated from the perspective of management, taxation, and investment.

The Florida Vacation Rental Managers Association, a trade association, estimates that there are now more than 20,000 vacation-rental homes in Central Florida (the Orlando-Kissimmee-Daytona Beach area) alone. These are not timeshares or fractionals. They are individually owned properties, typically bought specifically for the purpose of use as a vacation rental home.

The Challenges of Vacation Rentals

Currently, vacation rentals come with a fair measure of risk for the owner who must deal with repairs, taxes, and the responsibility to keep the property rented if income from it is desired or needed. Additionally, zoning in a residential neighborhood can change at any time, making use of a home bought for the purpose of vacation rentals, no longer an option.

For renters, vacation rentals also bring risks. Does the property look as good in person as it did in an online ad or brochure? Do the photos of the property fail to tell the whole story by not including any undesirable nearby features; for example, would you still rent this home if you knew it backed up to a freeway, prison, or an airport? Any lastly, if you are renting the property, and you have a problem with the air conditioner, plumbing, or other feature, will the property owner or management agency be available to get it repaired in a timely manner?

Currently, lawmakers, property owners, and some segments of the Florida tourism industry are in conflict regarding a state bill that invalids existing city and county laws, which either prohibit vacation rentals entirely or require those rental homes to comply with the same regulations as commercial hotels. While laws vary from county to county in Florida, currently Orange County (where Orlando is located), prohibits short-term rentals (less than six months) on properties not zoned for commercial or industrial use.

Timeshare Rentals Eliminate the Risk Factor

Timeshare rental is an easy way to enjoy spacious vacation accommodations while still benefiting from the management structure and the property standards you know and expect from trusted global hospitality brands.

With timeshare rentals, you can enjoy the space, privacy, and home-like features of a timeshare condo, but relax knowing you are benefiting from the onsite amenities, maintenance, management and security associated with timeshare.

As a timeshare owner who may choose to use his property as timeshare rental, you know the burden of maintaining and managing the property is off your shoulders, covered by your annual maintenance fee. And while local and state laws may come and go, as a timeshare owner, you never share the impact alone in the same way sole property owners do.

Renting timeshare makes a lot of sense. After all, vacationing is supposed to be about relaxation time, not about added worries and responsibilities.