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Home> Buying> Short Term Rental

Short Term (VRBO/Airbnb) Rental Investments in Southeast Florida

Short term rentals in Southeast Florida have been seen as a very lucrative investment over the past few years. Largely due to the rise of short-term rentals like Airbnb and VRBO, Southeast Florida’s rental stock has continued to grow, with a 97% annual growth between 2016 and 2017 alone. But, short-term rentals in Southeast Florida come with some risks and, as always, no investment is 100%. Continue reading below as we delve into the tax implications, vacancy rates, and a realistic income that you could expect to earn from your Short Term Rental investment in Southeast Florida.

Search a variety of investment properties below to find the one that is perfect for your short-term rental goals or continue reading here about some of the requirements for short-term rental properties in Southeast Florida.

Short Term Rental Investment Properties

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13282 Saint Tropez Cir, Palm Beach Gardens, FL - $410,000

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,761 SQFT
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Welcome Home To This Stunning 3br/2ba Single Story Lakefront Pool Home In The Highly Desirable Private Gated Community Of Crystal Pointe. Fully Upgraded, This Home Has An Open Concept Floor Plan With Tons Of Natural Light And Boasts An Enormous Qu...

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6307 Myrtlewood Cir W, Palm Beach Gardens, FL - $235,000

Residential, Condo or Coop
  • 3 Beds
  • 2 Baths
  • 1,338 SQFT
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Beautiful 3 Bedroom, 2 Bathroom 2nd Floor Unit With A Den. Spacious Open Floor Plan, A Large Walk-in Closet In The Master Bedroom, Large Kitchen Pantry, And Full Size Washer & Dryer. Fiore At The Gardens Offers Resort Style Living In A Private Gat...

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58 Admirals Ct, Palm Beach Gardens, FL - $319,000

Residential, Single Family Detached
  • 2 Beds
  • 2 Baths
  • 1,174 SQFT
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Very Nice Home In Pga National Features Updated Kitchen, New Floors, New Ac, And A New Roof In 2017.

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9034 Se Bobo Ct, Hobe Sound, FL - $282,500

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,766 SQFT
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Owner Agent. This Beautiful Updated 3 Bedroom Home With Metal Roof And Hardi Siding Is Located In The Desirable Eastridge Estates Neighborhood. Spacious Split Floor Plan With Room For Boat Storage. This Home Boasts Travertine Marble Floors Through...

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2039 Chelsea Pl, Palm Beach Gardens, FL - $434,900

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 3 Baths
  • 2,154 SQFT
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Looking For A Dream Home With Amazing Surroundings And Great Schools? You Will Be Blown Away By This Ultra Modern, Airy, Functional, Meticulously Clean 3 Bedroom, 2.5 Bathroom Upgraded Luxury Townhouse In A Desirable Gated Hampton Cay Community In...

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3923 Duneside Dr, Hutchinson Island, FL - $695,000

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 1,984 SQFT
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Paradise Found Within Your Reach. Just A Few Short Miles From Vero Beach. At Night You Can Hear The Sounds Of Rolling Waves, Lounging On The Beach Is Where You Can Spend Your Days. Looking Out To The Ocean At Any Time Of Day Can Give You A Chance ...

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12747 Se Pinehurst Ct #12747, Hobe Sound, FL - $235,000

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 2 Baths
  • 1,712 SQFT
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14 Hole Executive Golf Course (no Green Fees Or Trail Fees) 2 Tennis Courts, Bocce, Community Pool & Clubhouse- 55+ Over Community-one Time Capital Contribution To Hoa $2500. No Lease First Year, Immaculate Home With New Kitchen, Granite, New Appl...

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1105 Via Jardin, Palm Beach Gardens, FL - $225,000

Residential, Single Family Detached
  • 2 Beds
  • 2 Baths
  • 1,001 SQFT
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This Single-familyish Home Is Actually Considered A Townhome Due To A Connected Exterior Patio Wall. But It Feels Just Like A Single Family Home. Situated On A Corner Lot This 2 Bedroom 2 Bathroom Home Is Tastefully Updated And Ready For You To Ca...

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291 Mercury Rd #1, Juno Beach, FL - $399,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,100 SQFT
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Located On The Ocean Block, This Beautifully Renovated Two Bedroom, Two Bathroom Open Floor Plan Corner Unit Condo Is In One Of The Most Desirable Locations In The Seaside Town Of Juno Beach. Conveniently Located On The First Floor You Can Enjoy ...

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227 Brazilian Av #2h, Palm Beach, FL - $489,900

Residential, Condo or Coop
  • 1 Bed
  • 1 Bath
  • 643 SQFT
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Prime Location In The Heart Of Palm Beach. Close To Restaurants, Shopping And The Beach. Bright One Bedroom Unit, Assigned Covered Parking Space Close To Entrance, Spacious Kitchen, Granite Counter Tops; Dining Area, Lovely Terrace With Westerly E...

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3880 Ne Sugarhill Av, Jensen Beach, FL - $499,888

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 2,379 SQFT
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Discover Peace, Tranquility, & Serenity Living Among Sugarhill's Beautiful Nature In This Private Setting! Fall In Love The Moment You Step Inside This 3,457 Sq Ft, 3 Bedroom, 2 Bath, Pool Home With Many Upgrades! 50 Yr New Roof & Chimney Cap -201...

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800 Juno Ocean Walk #501, Juno Beach, FL - $545,000

Residential, Condo or Coop
  • 3 Beds
  • 3 Baths
  • 2,104 SQFT
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Highly Coveted Nw Corner Penthouse In A Building With Beautiful Ocean Views And 1 Car Garage. Secure Elevator Brings You Right Up To Your Private Entryway Foyer. Step In To Luxury With Soaring Ceilings And Desirable Open Concept Floor Plan. Kitc...

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Hidden Costs - Short Term Rental Investment Properties

One of the biggest hidden issues with a short-term rental property in North Palm Beach is that you risk overstepping on the permitted uses for the property. For example, one such property in Palm Beach was defined as being used for commercial purposes and not residential. This can happen to you too if you were to rent out the property for less than three months more than three times in that calendar year. This mistake can be incredibly costly too. A commercial property in a residential zone can cost as much as $250 per day for the code violation. $250 per day in code violations means that you would be building $119s in negative equity per day if you rent at the average daily rate in Palm Beach.

Other Taxes - Short Term Rental Investment Properties in Southeast Florida

However, it’s not just at the city level that you should worry about the hoops that you will be expected to jump through. Palm Beach County has a bed tax, which is known as the tourist development tax, which is applicable if you rent out your property for less than six months out of the year. The tax is charged at five percent of the total revenue gained and it might be in addition to the State level sales tax of six percent. Should you think of trying to skip out of paying that five percent, Palm Beach County has been known to take aggressive action against those that violate the tax law. In fact, those caught not paying could potentially face a third-degree felony and a lien can be placed against the violator's bank account by the County. To make it easier, the County suggests that owners of investment property in Southeast Florida sign up for Alavara’s MyLodgeTax™, which makes vacation rental taxes simpler for a $20 monthly fee. If you rent your investment property for more than 30 days out of the year, you should also check with the local county’s property appraisers, too as you might be claiming a credit that you are not entitled to.

Why Purchase a Short Term Rental Investment Property

The labyrinth of taxes and city costs might be exhausting but the profits that are to be had with your investment property might be worth the additional paperwork. For example, from a quick search on Airbnb, a private room that is close to the beach and Carlin Park can bring in $1,725 per month. While an entire three-bed lakefront condo in Juno Beach can command as much as $5,600 per month. Even at a 30% occupancy rate, which is below the average occupancy rate, the Juno Beach property would bring in approximately $21,000 in revenue, minus the 11% of county and state level taxes, that’s a pretty tidy profit of $18,747.59 before costs directly related to the investment property in Southeast Florida.

If you think you’d like to discover the homes for sale near Jupiter, Tequesta, or Singer Island that would make great short-term rental investment properties, contact Beth Bourque at Southern Shore Properties today.

All listings featuring the BMLS logo are provided by Beaches MLS Inc. Copyright 2019 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed.
© 2019 Beaches Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on June 27th, 2019 at 5:00am CDT.