Episode 10: Short Term Rentals with Jessica Forrester
In this episode, Broker/Owner Brady Bridges is joined by Jessica Forrester from Emerald Coast Beach Homes near Destin, FL to talk about what to look for in a short term or vacation rental, the importance of a good property manager, and what she loves about living at the beach.
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Jessica got her start in real estate right here in Dallas - but unfortunately, her first day in business was September 11, 2001. She and her husband started buying and renovating homes in East Dallas before relocating to Florida and re-launching their real estate and investment ventures there.
They started in short-term rental management after Jessica's sister bought a property and needed someone local to handle the day-to-day needs. As more out-of-area clients became interested in rentals as investment property, their management side expanded and was added to their specialities, along with the brokerage and remodeling services.
Jessica said many of their clients are looking for an investment property that can also be used for their own vacations, so their first step is always to bring the decision makers together to agree on the goals for the property. They discuss the pros and cons of each area being considered, as well as the financing options available for that type of property - for example, mortgages are easier to get on a single-family residence or townhome than they are on condos.
Unlike the recent changes in Fort Worth, short term rentals in the Destin area aren't restricted to commercial property. The area doesn't have many large resorts or hotels, and Jessica says "our tourism economy relies on the short-term rental industry. Without it, we wouldn't be surviving." Short-term and vacation rentals are required to pay local taxes and she doesn't see that changing in the future.
Jessica can be reached at [email protected] or 850-424-1152.
More information on February 2023 changes to short-term rental requirements in Fort Worth is available at https://www.fortworthtexas.gov/short-term-rentals.