Sally Stribling

New Luxury 4bd/2ba waterfront CBS home in Key Largo w/direct ocean access. Custom Caribbean architecture & split floor plan, w/office. Master suite w/canal view & balcony. Concrete dock w/davits, travertine floors in & out, granite & SS kitchen, pantry, tongue & groove ceilings,impact windows & doors, prewired w/CAT 5 & surround sound, garage, entertaining area, & room for a pool. Stunning!

$1,223,333

Provided as a service of
SALLY STRIBLING, P.A.
Coldwell Banker Schmitt Key Largo

About Coldwell Banker Schmitt Real Estate Company.

Our Mission:
To build on our heritage as the areas oldest and largest, full-service Real Estate Company providing unparalleled service, with resulting profits to our company, associates, customers and clients, while steadfastly maintaining the highest ethical standards necessary to remain-
The Most Trusted Name in Real Estate in the Florida Keys
Coldwell Banker Schmitt Real Estate (CBSREC) brings a market-leading combination of resources to each partnership that is both unique and invaluable, providing sales leadership, marketing structure, depth of knowledge, better than 53 years of experience, and the ability to make things happen.
Coldwell Banker Schmitt Real Estate is the number one real estate company across the Florida Keys in:

Longevity
We are a 53-year old company with a strong heritage, and long-term view and commitment to the real estate business. No other real estate company has been around for nearly as long.

Market Share
Our market share for sales sides exceeds the number-two company by 64 percent and the number-three company by 170 percent.*

Sales
$328 million sales volume is 86 percent greater than the second-ranking company.

Listings
57 percent more listings than the second-ranking company.*
Listings Sold
We have sold 82 percent more of our listed properties than the #2 firm and 196 percent more than number-three which validates the effectiveness of our Every Day Until Its Sold marketing plan and investment to achieve top ranking on world-wide websites.
Luxury property listings and sales
Coldwell Banker Schmitts -Previews Properties program continues to dominate the high end of the Florida Keys real estate market, selling 68% more properties valued over $1.3M and 55% valued over $2M than the #2 company. Additionally, we sold 77% more of our listed properties valued over $1.3M than the #2 Company*
Office Productivity
CBSRECs offices rank #1, #2, #3, #6 & #17 for sales among the 181 offices Keys-wide; are #1 in 4 of the 5 market areas of The Keys, and three sales short of #1 in the 5th.*

Agent Productivity
We have fewer than 10 percent of all agents, yet they do 20 percent of all business Keys-wide.*

We have more agents in the Top 50, 75 and 100 of 1,129 agents Keys wide than the next 4 companies combined.*

Giving Back To Our Community
Our Charitable Foundation has raised $550,000 since its inception in April 2002 to support needy people and worthy programs exclusively in the Florida Keys.

Coldwell Banker is the number-one name in real estate globally, and participates in one out of every nine sales in the United States. CBSREC is a highly productive organization even by worldwide Coldwell Banker standards. As for 2007:

We were the #3 Coldwell Banker Company in Florida.
#1 & #2 each have 20+ sales offices.

Internationally we are ranked number 37, out of 1,268 Coldwell Banker offices for sales.
It is the 6th consecutive year, we achieved the exclusive Coldwell Banker Chairmans Circle Company designation, that places CBSREC in the Top 3% of 1700 Coldwell Banker companies worldwide for sales production.

Other key elements contributing to our success:
Our presence from Key Largo to Key West enables us to focus our resources, wherever and whenever necessary.
Five modern, state-of-the-art offices strategically located in the five major markets of the Keys.

We provide seven-day-a-week access to buyers and clients.
Our offices offer extended hours.
Our web site provides visitors with real-time chat capability via live Site Greeters from 6 a.m. to midnight.
Our automated lead distribution system instantly routes buyer & seller contacts to the appropriate sales associate.

The Coldwell Banker Previews International program is specifically tailored for residences qualifying among the market's top 10 percent.
Each qualifying CBSREC agent completes an elite course with continuing training. They must also have specific experience in listing and selling the finest residences, along with a superlative record for customer service prior to designation as a Previews International agent.

With our luxury home expertise and our sales success, CBSREC Previews agents can bring your listing to the direct attention of a substantial database of Keys luxury property buyers and prospects.

Our Every Day Until Its Sold, program integrates Internet (including the most visited real estate company site in The Keys, virtual tours, showcase listings on Realtor.com and more, along with email, newspaper, magazine, direct mail and network marketing to spheres of influence, past customers, clients and a global audience to effectively expose your property to the market.

We believe our long-ago adoption of Single Agency, as the preferred manner for working with sellers and buyers has been a significant factor in the market-leading success of our agents and is a clear differentiator for choosing a Coldwell Banker Schmitt Agent to represent your interest when selling or buying real estate.

These points of difference pay off in measurable results and provide the foundation and guiding principles on which management, staff and agents rely in order to achieve ever-increasing levels of success for themselves, our buyers, our sellers, and you.

Sally StriblingKey Largo office
305-453-7552
877-289-0035 x7552
Mobile Number:305-283-2002
Fax: 305-451-0398
Email Address: keysproperty@bellsouth.net
Previews International Agent: Yes
Languages Spoken: Spanish
Personal Website: http://keysbestproperty.com/

Buying a Home in the Keys and using it as a Rental-Part 3

• All of our sites are linked to Key West or www.flakeys.com which averages over 500,000 views per month. Basically if anyone looks at Key West they find our sites.
• The balance come through National Advertising placed in magazines such as Island Living, Florida Sportsmen, Salt Water fishing and Dive magazines as well as regional publications and our own buyers guide.
• Also all of our computers are networked meaning if someone is looking for a specific situation such as open water it will show up on the computer immediately as to area, availability and price plus all other details.Who handles the renters?
• All of our offices have a dedicated rental manager whose job is to rent the homes. In conclusion, there is a lot to discuss on rentals and this is used to just get you information regarding the main issues.BUYING RENTAL UNITS-DUPLEX-OR MORE UNITS
• There are Duplexes throughout the lower Keys and a few 3-4 unit complexes. The 3 to 4 units are generally in Key West or Marathon.In looking at the return, generally it runs around 10% in the Keys÷this includes the large guesthouses. When a return of 14% or more comes up they generally go very quickly.
DUPLEXOn the water generally start at $600,000. Nicer ones (maintained-updated appliances-tile) go for $775,000 and up. A dry lot duplex can start at about $550,000. These generally have the best return percentage.3 TO 4 UNITSGenerally in Key West or Marathon.
• In Key West, these can be good, especially if it's located in Old Town and one or more of the units has a transient license, meaning it can legally rent weekly.
• These type of situations run from about $850,000 and up. In Marathon from about $750,000 and up.MOTELS-MULTIPLE UNITS
• These are generally found in upper keys, Marathon and of course Key West. The more affordable ones ( one to two Million dollars) are generally from Marathon north to Key Largo. See Commercial section of my site. If there is a specific situation you want please let me know.

Buying a Home in the Keys and using it as a Rental-Part 2

When the home complies with all of the above and we have the signed contract, then it can go into the rental pool.SPECIFICS OF THE AGREEMENT

1 Coldwell Banker agrees to manage the home for a period of one year with the contract automatically renewing unless either side gives 90 day notice.
2 Our fee for vacation rentals is 20%---what is really important here are the following points.
• There are no hidden fees-such as credit card charges etc.
• We typically send you the money within 2 weeks of receiving it÷we do NOT hold it until the first of each month or split it out each month. We always collect cashiers checks from the renters so when the money is received, it is quickly processed through our main office and sent to you.
• There are no charges for going up on our Web sites÷5 in all.
• There are no charges for the pictures that are taken.
• There are no charges for any specific flyers, brochures or ads that we run on our rental properties.
• Please go to www.rentalsfloridakeys.com
• We actively and aggressively manage your home. Meaning we get the best customers (qualified) We play by the 2 people per bedroom limit, and we work to keep it filled other than your personal usage
• All of the computers in the 6 Coldwell Banker Schmitt offices throughout the Keys are linked. If a customer inquires about a home, it will show up on the rental agents computers.
• We have Handymen, Electrical, Plumbing, Landscaping, Pest control and appliance people that respond when there is an emergency.BOOKING THE HOME FOR THE OWNER.
This is very simple. You would call the rental manager and have him block out the home when you want to use it. We don't charge a fee for any of that. Generally you would have us arrange for the home to be cleaned after you leave.FLORIDA BED TAX Florida charges a 11.5% tax on all hotel, motel, home rentals. We collect the money from the tenant and disperse it to the tax agency.CLEANING SERVICE The tenants pay this fee which varies based on the size of the home. On average a 2/2 is $100 and a 3/2 is $125.00.PETS AND SMOKING If the home is no smoking, that is put in the rental file and the tenants are informed before they book the home. If the home allows pets, we collect a pet deposit which is added to the standard security deposit of $500How are emergency repairs handled?
• We have handymen available that can take care of small emergencies or updates, as the owner requires. Since our company manages over 300 rentals, we also have a good working relationship with Plumbing, Electrical, Appliance and Carpet, Tile people.What about Hurricane preparation?
• In the event of an impending Hurricane, the handyman or someone else can be hired to put up the storm shutters, bring in the lawn and patio furniture, etc for a fee-as we have too many homes for us to do them individually. This agreement should be set up in advance by the homeowner and the handyman. We will help you find someone to do this.What makes a good Vacation Rental
• A clean, well-maintained home on a canal or open water.
• Typically one of the bedrooms should have a set of twin beds if the renters are bringing children.
• Good linens and towels and a backup set. This is especially important for monthly renters.
• The washer, dryer and refrigerator should be newer if possible.
• A good Television hooked up to cable (about $35.00 per month) and a CD or tape stereo system.
• The kitchen must be completely outfitted. A microwave is also very important for renters.
• Patio and/or Lawn-Deck furniture. If there is an upper deck, a table and chairs plus loungers.
• On the water side, below a set of loungers and chairs.We get a lot of repeat renters÷if the renters have a good experience, they will come back. We see this especially with people that book two to three months a year.The Rental laws-what is going on in the Keys
• The Monroe County commissioners voted 4 to 1 about 4 months ago to overturn and rewrite the existing ban and allow weekly rentals. Recently a meeting was held where a proposed revision was discussed. It was deemed not acceptable and is being looked at again and will redone possibly by Mid April. There is also a chance it may come back allowing 14 day rentals which would meet everyone halfway.
• In the meantime the Keys are Incorporating and getting away from County Rule. This happened recently in Marathon and is on the ballot for November for most of the lower Keys Islands. What this means is that the Incorporated areas make their own rules as to rentals.Where do we get the renters
• If you're reading this on my web site you have the answer. If not most of our renters come through the Internet and one of our 4 sites.

Buying a Home in the Keys and using it as a Rental

Renting your home out as a seasonal(vacation rental)or long term.
Long term renters are easy to find as there is a shortage of homes for rent. So, if you want to buy something for retirement or a vacation home and rent it out to help your payments-this is typically the easiest way. (Long term rentals are considered to be anything over 6 months, as the tenants don't pay the 11.5% Florida tax)
• Generally long term rentals should be unfurnished.
• Initially we do a credit check before submitting a lease to you, then with your approval of the lease, we collect the first and last months rent plus a security deposit which is typically a months rental amount. We are very proactive in this area and I assure you the home is handled professionally.
• As to utilities- The tenants take the lease to the water, electric, phone and cable people and have the utilities put in their name and of course they pay their own deposits. Garbage down here is included in your tax bill-so there is no garbage bill.
• Seasonal rentals. Currently we can only rent monthly or 28 days, meaning the owner can only rent the home out 12 times per year. This means about 5 months of income-Jan-Feb-Mar and July-August. There are some April and June monthlies.
• As to finding people to rent for the rest of the time! I deal a lot with navy transfers÷they generally need something for 2-3 months while they sell their home and buy another. So if it is the off season, I try to fill your home up this way. Another way to fill in the gaps is to Companies that come down here. Most of the major government and private building projects are done by outside firms. Their management people will generally want a nicer situation so they will generally rent homes at better than average rates.
• As to what is the best rental situation , that is size, which areas, views, pools, how water and boating accessibility affects rental amounts and the typical rental amounts for both long and short term, plus the fees involved, please contact me. As to extra costs and what is necessary to have a Home as a Rental.
• When you rent your home out you need to license it through the County. This costs $25.00 and we handle the paperwork for you. The County and the Tax people want the home licensed so they know where there may be tax dollars coming in. When your home is used as a rental, in effect you are operating the same as a hotel or motel and so come under their safety guidelines.
• Every bedroom and the main living area must have a hardwired smoke detector and there must also be an escape light. This light comes on in case of a power outage-this also must be hardwired. (About $350.00 installed smoke detectors and escape light for a 2/2)
• There also needs to be a professional quality refillable fire extinguisher that is approved by the fire department (about $55.00). This would be the same as you'd find in a restaurant or hotel room. There needs to be a dead bolt on the door that works from the inside and is a different key than the main door. All of these issues help protect your liability in cases of fire/break in.