Gone elsewhere

Gone here.....

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Smaller Attractions Need You!

The demise of Dixie Stampede is a precursor to the troubles that the second tier attractions are going to have to go through this year. With travel costs rising tourists have less to spend on arrival in Central Florida and their stays are becoming shorter. In addition the major attractions are getting more and more skillful at 'capturing' their guests and ensuring they spend their hard earned cash on site.

So when you visit Orlando take some time to visit the smaller attractions of which there are many.

Dolly Deflated

In dramatic fashion as befits anything associated with Dolly Parton, Dixie Stampede shut it's doors today. A very sad day for Central Florida. Will we ever see these cowboy outfits again?

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Feliz Año Nuevo

As learning Spanish is on of my New Year's resolutions don't be surprised to find me practising it here!

HAPPY NEW YEAR EVERYONE!

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Fantastic 5 bed villa on Sunset Ridge

VRBooker is proud to be actively promoting this property, a gorgeous 5 bedroomed villa with absolutely fantastic views on Sunset Ridge. You can currently see this villa listed at HomeAway and Wannavilla.

I am looking for new villas to market online. If you need help in getting good quality guests into your property contact me as soon as possible as places are limited.

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Tuscana Tavern at Tuscana Resort

I did the really sad expat thing on Sunday and thoroughly enjoyed an English roast dinner at the Tuscana Tavern.

The Tavern is actually in the clubhouse of the Tuscana Resort, a recently completed condo development near Champion's Gate.

(To get to it, come off I4 at junction 58, head west towards Champion's Gate, then turn right immediately before the arches and follow the road to the end.)

The resort itself is brand new and immaculate and although it is early days I am sure it will become very popular over time.

On arrival we thought we had gone to the wrong place because it was deserted and didn't look much like a tavern, but once we were sat down by the pool with an appropriate beer in hand we felt more comfortable.

I know you really can't go too far wrong when you serve up a roast dinner to an Englishman who hasn't eaten one in a while but I have to say it was really very good. The Yorkshires were light and the roasties were crispy so I was a very happy bunny. Our guests were equally satisfied with their fish and chips and mushy peas. (I feel embarrassed even as I write this. Am I really one of those Brits who moves half way round the world just to find a little bit of England somewhere else..... Seems to be the case.)

The tavern has recently been opened and is run by an English family (Well, an English lady with the support of her family.) and what the service lacked in polish it made up for with cheerful enthusiasm. (I am sure it will get more professional.)

In short we had a fine Sunday afternoon and I would recommend this place to all and sundry. It is not for those looking for fine cuisine but if you want good British food in a good atmosphere at a great price, all in a great location then give it a try. I will certainly be going again.

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British Mortgages Abroad No Longer Lending in Florida

In yet another sign of the difficulties being experienced in the vacation rental market in Central Florida, British Mortgages Abroad have made the decision to cease lending in the state.

British Mortgages Abroad, a subsidiary of General Electric's financial group, GE Money, made the announcement in October, saying it wanted to focus on their lending business in the United Kingdom.

Lee Weaver, director of operations for the Orlando-based British Home Loans Florida - which had been BMA's top-producing brokerage company - told The Reporter that there's no way of knowing yet what impact the decision will have on the vacation home market in Central Florida.

Personally, I have never thought it wise to take out a mortgage in any other currency to the one used in the country you are buying, but some disagree. One thing I am sure about though is that BMA would not be making this decision if they thought they could make money in the area.

Nigel Worrall of Florida Leisure Vacation Homes seems to agree:

Worrall said he thinks it is better for British investors to work through American mortgage companies in order to take better advantage of the fluctuations in the exchange rate and have more direct control over their investments by working through a local lender.

I wonder if BMA are just getting out of the market at the wrong time though. With home prices falling and the dollar weakening surely it is only a matter of time before British buyers come flooding back into the market.

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What Licenses Do I Need Before I Rent Out my Vacation Rental?

So you have bought a beautiful second home in the sun with the intention of renting it out and hopefully turning a profit. What paperwork do you need in place to keep the State and County happy?

1. ITIN Number: Unless you already have a US social security number you are going to need an International Tax Identification Number. To obtain an ITIN you need to complete a form W-7 and mail it to Internal Revenue Service, ITIN Operation, P.O. Box 149342, Austin, TX, 78714-9342. Along with the form you need to send a notarized copy of your passport to confirm both identification and residency.
   
   Allow four to six weeks for notification of your ITIN number.
   
   
2. Application to Collect and/or Report Tax In Florida: You need to apply to be able to collect state sales tax on your rentals. You do this by completing Form DR-1 and mailing it together with a check for $5 to Florida Department Of Revenue, 5050 W Tennessee St, Tallahassee FL 32399-0100.
   
   The Sales Tax rate in Florida is currently 7%.
   
   
3. Resort Dwelling License (Hotel License): The issuance of this license means that your home should meet certain criteria which deems it safe to rent out to the public. Dependent on the county in which your home is situated you may be liable to inspection. It is important that you make yourself familiar with the regulations.
   
   You need to apply for this license using Form DBPR HR-7028. Once complete send it, together with the intial application fee of $220 to Division of Hotels and Restaurants, Department of Business and Professional Regulation, 1940 North Monroe Street, Tallahassee, FL 32399-0783.
   
   
4. Local Business Tax Receipt: The Local Business Tax (Formerly Occupational License) is issued by the county your house is situated in. It allows you to conduct business in that county.
   
   Osceola County: The license can be applied for either online at www.osceolataxcollector.org or at the tax collector's office. It is currently $30.
   
   Polk County: Apply using the form on the Polk County Tax Collector's Web Site or in person at the tax collector's office. The cost is $55.
   
   
5. Tourist Development Tax Application: Just as you need to apply to the state to collect sales tax so you have to apply to the county to collect tourist development tax. Each county has its own forms:
   
   Osceola County: The application is available on the tax collector's web site. This can be taken together with the fee of $5 into the tax collectors office.
   
   Polk County: Complete the application form and either mail it to Joe Tedder, Collector of Taxes, P.O BOX 2016 - Bartow, FL. 33831-2016 or drop it into the local tax collector's office.
   
   Once you have your TDT number you will then be able to collect the tax and submit it to the county. Currently the TDT rate in Osceola is 6% and in Polk, 5%.

There, that wasn't too bad was it.

Alternatively you can get an accountant who specializes in the short term rental market to do it all for you. If you need a recommendation let me know.

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