I have a vacation rental at Disney, Florida. I spent about $100,000 to buy, and renovation. Following are the cost monthyly:
HOA: 200
Tax: 200
Utility: 180
Cable TV/Internet: 110
Water: 60
Insurance: 40
Property Manager+Maintenance: 150
Loan interest: 420
$18k furniture devaluation: 50
Total cost to maintain my property: $1,410 per month, which is $47 per day.
I rent out the property from $39 to $79 (averagely at $50), plus cleaning fee $79 and 13% tax. Occupancy rate is good, at 90%, averagely the daily income can barely cover all the cost. Since the cleaning fee paid to the cleaning company and tax to the government, I have to collect that.
In a word, I cannot profit any thing from renting except the property value up in the future.
This week came an Indian family, at first, they refused to pay the cleaning fee. Then after they moved in, trouble comes too.
At the first day, the Indian family they called the property manager, complaining no hot water, then the property manager ordered the plumber, then plumber said everything's perfect, just the Indian family didn't know how to use it. Then the property manager charged me $40 for the trip fee.
On the 2nd day, the Indian family complained again complaining the A/C not working. then my property manager ordered the a/c guy to check; then the a/c guy said everything's perfect; then the property manager charged me $40 again for the trip fee.
On the 3rd day, yesterday, Indian family reported again for the Internet access, they complained the network cannot connected. What the heck! I called the PM immediately, asked her not order service again, then the Indian family threatened me to sue me on the court.
I lost $40 per day, I rent out to them for just $45 per day, which includes HOA, property tax, utility gas and electric, water and sewer, cable tv and high speed internet, PM managerment fee, .....
I have never had Indian customers before. I will never rent out to them any more.
Welcome for your comments, lessons, advices,..., thanks
