Even in idyllic Palm Beach Gardens, a vacant property is a vulnerable property.
The weather in The Gardens is perfect year-round, which makes it an ideal base for tourists and second- property owners. Because of this, the area has a large number of vacation homes that are used only sporadically. According to the Palm Beach Gardens city code, vacation homes must be occupied for at least six weeks per year, and many of these properties are used as weekend getaways or a source of rental income for their owners.
If you fit this profile, your property is exposed to damage from the elements and from criminal activity. But what determines how long is too long for a holiday home to be vacant? Read on to find out.
Time of the Year
As an upscale area, property in Palm Beach Gardens is a hefty investment. As such, many people are prone to over-estimating how many days’ rental are likely when calculating their ROI.
Make no mistake, this paradise for sun lovers is a popular vacation destination! But one hundred percent occupancy is a bit of a stretch. To accurately assess the profitability of your investment, you should research the average occupancy based on the time of the year.
According to the National Oceanic and Atmospheric Administration, the best time to visit Palm Beach Gardens is from November 5th through April 1st. Unsurprisingly, that correlates to the period of time when a greater number of tenants are looking for a rental. The sweltering summer months are when Palm Beach is at its quietest, so factor that in when defining what level of vacancy is acceptable to you.
Condition of the Property
If your seasonal home is beginning to look like a zombie property – it has been vacant for too long!
Jokes aside, though, the very meteorological conditions that make Palm Beach Gardens a balmy paradise have a negative impact on both occupied and vacant properties. Just as the warm temperatures attract tourists and new residents alike, the baking hot sun and salty sea air is detrimental to the condition of your home. Moreover, Palm Beach Gardens is also one of Florida’s most hurricane-prone areas. Without regular upkeep, damage from these environmental effects lowers property values – as well as the amount you can reasonably charge to rent the place.
While FEMS cannot prevent these natural events, we can:
- Identify existing and potential damage and safety hazards.
- Initiate repairs, thereby preventing further damage.
- Alert you of impending tropical storms and hurricane proof your home.
- Ensure your vacation home is appealing to high-paying renters by keeping it well maintained and thoroughly clean.
Your Property Faces Danger of Break-Ins
Not only is an un-rented dwelling “eating your lunch”, but it is also at risk of theft, vandals, and other unwanted guests.
Unfortunately, it’s a common problem for vacation homes to be a major target for criminals. To avoid this, hire someone to check up on your property every few days, remove any accumulation of mail, and make sure everything is still in order.
Should You Hire an Estate Management Service?
If you envisage having your property vacant at all, the answer is a resounding, “Yes!” Here’s why:
- At Florida Estate Management Services, our mission is to provide peace of mind for you and protection for your home – especially during periods of vacancy.
- During regular on-site inspections of your unoccupied property, our team checks for signs of damage and any potential danger. Should any work be required – from basic maintenance to HVAC repairs and more, our experts are equipped to take care of your residence’s interior and exterior.
- Having trustworthy eyes on your property mitigates unnecessary risks associated with vacant homes.