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Date Posted: 07:12:53 01/14/08 Mon
Author: Shocker
Subject: Re: I know I am getting get heat for this
In reply to: Kiven 's message, "I know I am getting get heat for this" on 08:56:00 01/10/08 Thu

Sorry, but there's simply NO WAY this is accurate. I happen to own a rental on Captiva and am intimately familiar with current and past rental rates on the island.

Although it's possible that the rates for a select few rentals have increased dramatically, the vast majority have either increased modestly or not at all. In fact, I am aware of no less than three rental homes for which the weekly rental rates have not increased in OVER 10 YEARS! Further, despite the fact that those rental rates have remained the same, the owners have spent quite a bit of money improving their property (e.g. new appliances, furnishings, flooring, kitchen/bath cabinetry).

I know owners of a few other rentals who have, indeed, increased their weekly rates over the past 4-5 years but NONE are more than 20% higher than they were 5 years ago. The property with the largest increase went from $2500 (off season) to $3000 but that was only after a complete, six-figure, remodel (new pool/cage, new kitchen/bathrooms, appliances, and furniture).

Moreover, particularly during non-peak periods (such as October), EVERY owner I know is willing to offer discounts on their regular rates and some of those discounts are substantial.

As for my property, the weekly rates have increased about 10% since 2004 but that was, in large part, due to the expenditure of TENS of THOUSANDS of dollars in repairs and upgrades which were not covered by insurance. Frankly, I feel the rates, if anything, are TOO LOW considering the value of the property, the upgrades, plus the damage and increase in utility bills caused by SOME renters.

So, I'm confused and would certainly appreciate more details. I would further appreciate it if ANYONE would kindly inform me as to where a family of 8-10 can stay, for a one-week period, in a 3-4 bedroom private home (with a private pool) near a beach the likes found on Captiva for less than ~$2000-$2500 off season or $3000-$4000 in season.

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