I Will Rent Myself And Keep All The Money

I met this lady in the Condo Association Manager’s office of high-rise condominium building in Daytona Beach Shores. The manager introduced me as an agent, who rents quite a few units in this building for the owners. The lady wanted to rent her 2 bdr/ 2 bath unit. It is furnished and she was interested in short term vacation rental.

She wanted to know how much was my fee. She is not happy with the answer. She said she has rented it herself in the past, so she would rather do it herself and keep the money.

The notion of keeping the money is fine with me. The problem with it is that you first have to get the money, and this part eludes some small scale investors/landlords.

I ran into the same lady half a year later, and I asked her how much money she made on rentals since 1^st of January. She is hesitant, but I know the answer and I asked her point blank “Zero?”

She nodded. I most probably would have her unit rented half of this time. Just for example, if I would be renting her condo for $1,500 a month for 3 months, and charge 20%, she would have earned after my fee $3,600. She, however, decided that she would retain all $4,500. Cool, but she did not get $4,500, she did not get a penny.

Yes she retained 100% of her rentals, and did not pay a penny to an agent. However her 100% of 0 was zero, and she missed on at least some of the income to offset her expenses

Why is it so difficult for landlords to think not about how much they would pay, but rather how much they could earn?

If you would like to rent long or short term in Daytona Beach Area, or you own a condo and would like to rent it out, call me 386-405-2156.