Featured Buyer Story
Are You Allowed To Rent Your Fort Lauderdale Real Estate Home Or Condo?
There are a number of deals to be had in the Fort Lauderdale real estate market. Whether you are a first time investment buyer, or a seasoned professional, there are a number of criteria you will look at before you decide to purchase. The most important criteria, and the simplest question, is “Can the property actually be rented?”.
Due to the massive amounts of bank owned properties entering the Fort Lauderdale real estate market, many investors are looking for deals that they can purchase. Every investor has certain criteria they want in their investment properties. Unless you are going to hold the property as a vacation/second home or want to try to rehab the property and sell it quickly, the most important factor in deciding on an investment property should be that it is ABLE to be rented.
Many people think that when they purchase their investment property that they can do what they want with it. That is true to a certain extent. If you purchase a property located within a Condo or Homeowners Association, you agree to abide by the bylaws within that association. Investors are finding out that one of those bylaws is that the property cannot be rented, or cannot be rent until a certain amount of days or months after the purchase.
The reason some associations, particularly condos, do not allow rentals is because they feel the renters do not care for the property as an owner would, and renters are sometimes not screened well by the investor owners. The banning of renters was challenged in court by investor owners. After a rather long legal battle and a couple of decisions, it stands now that if you purchase a property in an association that does not allow rentals, you cannot rent. However, if at the time of purchase the association allows rentals, and then changes their rules, you may still rent if you were an owner before the rules took effect.
This poses a particular problem to sellers trying to sell properties in rental banned complexes and buildings. Many associations are being petitioned to temporarily allow renters until the Fort Lauderdale real estate market picks up again. Those request are often falling on deaf ears and we have not heard of one complex yet that has overturned the rules.
The bottom line is to make SURE that you and your Fort Lauderdale real estate agent know what questions to ask and check the documentation. A couple of cursory questions and a reading of select documents can mean the difference between a deal or a nightmare.
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Hot Bods, Big Name Fashion Designers, Celebrities, The Beach, What Else Do You Need
Did you miss it? Many fashionistas here in South Florida are just recovering from this past weekend’s celebrity fashion show blow out. Yes, the parties went on ALL night, ALL weekend.
Our trendy, chic, neighbors to the south turned up the heat this week with a dazzling display of hot bodies, big name designers and red-carpet celebrities at the Mercedes-Benz Fashion Week Swim.
If South Florida needed any extra sizzle this past weekend it certainly turned up the heat with an invitation only bash that had many an eye popping and many a head turning. Beauty was everywhere. The only thing missing was Hugh Hefner himself.
The Mercedes-Benz Fashion Week Swim is presented annually in Miami Beach, Florida, at The Raleigh Hotel. Known worldwide as “South Beach”, SoBe is located just 40 minutes south of the Fort Lauderdale real estate market. This was the fourth year of the event and it did not lack in star power whatsoever.
The MB Swim event coincides with the swimwear industry’s largest trade show, the invitation only event provides a runway platform for designers’ swimwear and resort collections with exposure to national and international media, style setters and fashionistas. Fashion, beauty, supermodels and celebrities come together in South Beach to celebrate the sexiest swimwear designs in the world.
At the opening party Thursday night, Pharrell Williams’ protege, Teyana Taylor, of My Super Sweet 16 and the song Google Me fame, was performed at a swimwear show from Diesel.The roster of celebs included local bad-boy Dennis Rodman, Jessica Simpson, Ashlee Simpson-Wentz, Kim Kardashian, John Stamos, Craig David and Tyson Beckford.
But it was the weekend-long tidal wave of parties hosted by designer Christian Audigier that had the paparazzi buzzing.
The French stylist is brought in celeb DJ Samantha Ronson for a Hotel Victor party Sunday night, and although I did not see her it was said that Ronson’s gal pal Lindsay Lohan was in the house as well. Of course, what would a So Be event be without it’s usual supply of ballers. NBA-ers Tracy McGrady and Shaquille O’Neal were on hand as well.
I won’t say that the evening “closed” with hip-hopper Lil Jon to spinning the beats for Audigier’s mammoth catwalk show Saturday night, but it did cap what was another amazing event here in South Florida.
Hope to see you there next year. Just living the dream in the Fort Lauderdale real estate market. Why don’t you join me!
video: courtesy Sun Sentinel
sources: SunSentinel | Mercedes Benz Fashion Week Swim
