Condo Owner

Volume19 Issue3 2015

Condo Owner publishes information vital to the business and pleasure of resort condominium ownership. Topics covered relate to real estate market trends, community association matters, rental management issues, tax and insurance updates and more.

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condo owner V O L U M E 1 9 • I S S U E 3 www.condo-owner.com 38 tourism All Access...All The Time! Go to Condo-Owner.com/subscribe + Get FREE 24/7 online access to breaking news, special reports, weekly "hot deals," Condo Owner's digital edition much more! Maldonado of Wyndham Vacation Rentals said parent company ResortQuest, "is a local, fam- ily-centric company and maintains a very strict policy of renting only to those over the age of 25 unless the renter is a married couple or actively serving in our military." The com- pany said they also thoroughly screen and monitor guests not only "to protect the assets of our owners, but also to ensure that every guest gets to enjoy a great beach experience w ith us." However, Darrell Sellers, of the Panama City Beach Owners' Alliance and Citizens for Panama City Beach, said, many times, unsus- pecting parents will sign off for their college- aged children to hit the beach, not realizing the potential for problems. Meanwhile, because spring break season appeals to a limited crowd, rental rates are kept low. He said that the arrival of the spring break crowd deters others from vacationing at the same time, "so, it's hard to get the rental rates up." Moreover, he said, property values are affected, remain- ing lower than those of neighboring areas such as Destin and South Walton. "Basically, what people don't realize about the value of condos on the beach, is our condos are priced signifi- cantly less than (those) west of us," he said. "They (the properties) should be appreciating more than they are."

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