How to find Deals
It is helpful to know a few facts about Siesta Key Resort Condominiums prior to seeking rentals.
There are 2 different ways to rent a unit in a Siesta Key Resort Condo, either directly through the Condo Association’s “On-Site Rental Office”, or from a private owner (“By Owner”).
Renting through an On-Site Rental Office
They are direct agents of the Condo Association, they set the rental prices and they are required by the written “Condominium Laws” to charge the same “List Price” to everyone. (It would be next to impossible to charge different rates for individual owners units, all the other owners would cry foul!).
Renting directly from the unit owner “By Owner”
Renting directly from an owner wasn’t very practical prior to the wide use of the “Internet”, now it is commonplace. It may surprise you to learn that “in theory” most of the Condo Association require in their by-laws that owners must charge the same price as the association’s Rental Office, but in actual practice that “by-law” is impossible to enforce, and may violate Florida Condominium Law.
So there is a reasonable chance that Renters may get a better price from an individual owner than a Condo Association’s Rental Office.
Rental Price Considerations
It is helpful for Renters to have “SOME IDEA” of what the price of Siesta Key Rentals will be, and then consider shopping for Rental Units in their budget. It is understandable that folks who have never rented on Siesta key might have no idea what a rental may cost them.
Here is a VERY GENERAL OVERVIEW of Siesta Key Pricing in Peak Season (Feb-March-April) for a 2 bedroom / 2 bath unit.
Direct Siesta Key Beachfront – with a direct Ocean View
$6,800 to $10,000 per month.
Across the Street from the Beach – partial view or Bay View
$4,800 to $7,000 per month.
Short walk (1-2 blocks) to the Beach – no view
$3,000 to $5,000 per month.
These are “ballpark” averages, yes it is possible you can beat these prices, but it is a waste of time to seek a direct beachfront in season and think they are available for $3,000 per month, that just isn’t realistic. So the message is to have realistic expectations for your budget.
HOW TO GET A DEAL
DEAL STRATEGY #1 - The very best way to get a Deal is to wait until the last minute. If it is practical, you’re very best strategy is to wait until a week before you want to vacation, and start searching for “By Owner” rentals. (Avoid Condo Rental Offices as they may not be allowed to discount, even last minute). You should be able to swing a substantial discount (20% - or more) if you are ready to pay in-full immediately.
DEAL STRATEGY #2 – Be flexible! Often owners will have vacancies that do not exactly match your dates, offer to take their dates if they offer you a discount! (Perhaps stay a night at the Airport Hotel where you arrive or depart in order to make your vacation stay match the owner’s vacancy – if the owner makes it worth your while)!
DEAL STRATEGY #3 – Match the length of your stay to the minimum rental period of the specific Condo resort you are interested in. Virtually all Siesta key Resort Condos have established minimum rental periods. If you are looking for a month rental, look for resorts with a month minimum rental period.
DEAL STRATEGY #4 – Plan your trip to match the owner’s “Start Day”. Saturday is “turn-over” day on Siesta Key. Many owners try to make all their rentals Sat. to Sat. If you’re vacation starts and ends on a Saturday, you are in a better bargaining position. (Sunday is the 2nd most popular turn-over day). Mid-week rentals are difficult for owners because they may end up using 2 weeks to fill your one week, (Weds. To Weds.), request. Often owners will never discount mid-week rentals, and some will never accept them choosing instead to gamble on getting a last minute SAT to SAT rental.
DEAL STRATEGY #5 – Be aware that most Condo Rental Offices charge by the day. If the published price is $1,400 per week, and you want to rent for the full month of March, your price will be 4 x $1,400 PLUS another $600 for the 3 extra days of March. If you rent from a private owner, bargain to get those extra nights free.
Insider Tip: Seeking to save money by looking for a 1-bedroom often isn’t that helpful. For example if a 2-bedroom unit rents for $5,000 per month, renters often think a 1-bedroom unit will be only half as much, but the reality is, the 1-bedroom is likely to cost almost as much as the 2-bedroom.
Example: Here is the WEEKLY price for a popular Turtle Beach Resort Condo:
1 Bedroom / 1 Bath: $1,545 plus tax
2 Bedroom / 2 Bath: $1,645 plus tax - (Not a big difference)!
Insider Tip: expecting a LARGE DISCOUNT for multiple week rentals may be disappointing. Most Resorts have a standard discount for multiple weeks, approximately 10% for 4 weeks or 15% for longer periods.
Please do the math:
A unit with a weekly (in season) price of $1,645 plus tax is $7,369
Discounted 10% = $6,632 ($737 savings) A good realistic discount.
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