Buy Your Destin Vacation Rental Investment Property Now

With Spring Break not far off, now is the time to Buy if you want to get in on a Peak time for Vacation Rental Income. We can get you closed and Ready for Business by March 1st. March and April are two great months for Vacation Rental Income. Spring Break come at different times all over the Midwest and South keeping your Rental Property booked. What a great way to start out with your New Investment Property.   Home Prices have been dropping, but I think they have dropped about as low as they are going to. Many have dropped their List Price 10-20%. The market crash is not going to happen as it did in 2008. The difference, Owners have plenty of equity in their properties. There's only so much land close to the Beach in Florida with more residents making Florida their permanent home. That's why you won't see any crazy deals like you saw in 2008.    There are Owners who are ready to Sell for one reason or another. This is where you might get an Owner to Accept a reasonable Offer. If you have questions about True Rental Income, not projections from Vacation Rental Companies (they always give you best case scenarios to get your business), please give me a call.    I will give you a breakdown on Rental Rates, Expenses and Gross Income.   I look forward to working with you and have a Great 2023!

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Fallen Tree Damage? Who Pays?

As a homeowner, are you responsible for the damage caused by a tree on your property that hits your neighbor’s home or other insured structure, such as a garage or shed? In most cases, the answer is “no.” When such damage occurs to your neighbor’s home due to forces outside your control (e.g., weather events), your neighbors may have to file a claim with their insurer to receive a reimbursement for the damage a down tree or branches cause. There is one exception, however. If it is determined that the tree damage stems from your negligence (e.g., dead limbs that you refused to cut down, or you chose to trim your tree as a weekend project), then the neighbor’s insurer may come after you to recover their loss—a process called subrogation.¹ You may want to check your policy or speak to your insurance agent to ascertain if your homeowners policy covers your liability in cases of negligence. When Neighbors Sue Some neighbors may seek to bring legal action against you, though often that is unnecessary. First, determine what municipal laws are in place to cover such instances. Generally speaking, you are not responsible unless you knew, or should have known, about the danger. Proving what you knew or should have known can be difficult and costly in a court of law. It typically benefits both parties to arrive at a compromise that avoids an expensive legal process. 1. The information in this material is not intended as legal advice. Please consult legal or insurance professionals for specific information regarding your individual situation. I am not an attorney.

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Historic Boost in Troops' Housing Allowance 2023

Housing allowances for troops are jumping by 12.1%, on average, in 2023, defense officials announced Wednesday. That’s the largest year-over-year percentage jump in the Basic Allowance for Housing in at least 15 years. Many Service Members have been hit hard over the last few years by the increased cost of housing. The percentage increase in BAH varies by rank, location and whether the service member has dependents. New rates take effect Jan. 1. Troops can look up their new BAH amount for 2023 by plugging in their rank and zip code in the DoD tool. Of the 300 designated military housing areas, 291 will see increases in BAH; five will see decreases, and four will stay the same. Those with decreasing rates are Lake Charles, Louisiana (down by 10%); Holloman Air Force Base/Alamagordo, New Mexico (down by 4%); Vance Air Force Base/Enid, Oklahoma (down by 2%); Long Island, New York (down by 2%) and Buffalo, New York (down 1%). Troops stationed in areas where the amount of housing allowance decreases aren’t penalized; they continue to receive the same amount they received in 2022. Areas where the BAH will stay the same are San Francisco; Erie, Pennsylvania; Memphis, Tennessee; and Bismarck, North Dakota.

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