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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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3475 S Ocean Blvd #6150, Palm Beach, FL - $378,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,395 SQFT
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Njoy This Updated And Spacious Condominium With Ocean To Intracoastal Views On Desirable Palm Beach. The Newer Updates Include The Kitchen, Bathrooms And Flooring. Featured Updates In The Kitchen Are Cabinetry, Counter Tops, Flooring And Stainless...

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181 Cape Pointe Cir, Jupiter, FL - $574,995

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,889 SQFT
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Now Available In This Fantastic Jupiter Location In The Highly Sought-after Ridge At The Bluffs Community. This 3 Br Residence Was Owned By One Of The Original Lottery List Purchasers And Was Chosen Specifically As It Is On One Of The Largest Lots...

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2520 Flotilla Ter, Hutchinson Island, FL - $339,900

Residential, Single Family Detached
  • 4 Beds
  • 4 Baths
  • 2,500 SQFT
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This Home Is On North Hutchinson Island.it Has A Beach Access From The Private Association With Dues .beach Is Beautiful. Waalk To The Ocean. It Is A Large Home With A 3 Year Old Roof.restaurant Nearby. New Publix Being Built On Us1. Low Priced Ho...

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220 Atlantic Av #0040, Palm Beach, FL - $535,000

Residential, Condo or Coop
  • 1 Bed
  • 1 Bath
  • 646 SQFT
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Meticulously Renovated In-town Gem. A Redesigned 1 Bedroom Condo Into A 1 Bedroom Plus Den. New Appliances , Ac , Plumbing And Wiring. Pretty Views From Your Second Story Balcony . Condo Sits On A Large Lot.

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2283 Sw Murphy Rd, Palm City, FL - $379,000

Residential, Single Family Detached
  • 4 Beds
  • 4 Baths
  • 1,572 SQFT
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Ocean Access Waterfront Home On A Huge Corner Lot! Completely Remodelled, Bright And Inviting Layout With 4 Bedrooms And 2 Bathrooms, Fireplace, Screened Patio And Amazing Water Views! Newer Metal Roof Of 2016, New A/c, New Impact Glass Throughou...

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1131 Keystone Dr N #e, Jupiter, FL - $227,900

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,178 SQFT
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First Floor With Golf Course Views! Nothing To Do But Move In! Impact Glass W Screened Patio With Electric Roll Down Shutters. Pristine Updated Unit With Tile Throughout. Stainless Steel Appliances. White Kitchen Cabinets W/composite Counter T...

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4910 Bonsai Cir #202, Palm Beach Gardens, FL - $224,900

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 2 Baths
  • 1,077 SQFT
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Light & Bright Second Floor End Unit With Garage & Driveway. Brand New A/c. Nice One Level Living & Open Floor Plan In Desirable ''legends At The Gardens''. Located In The Heart Of Palm Beach Gardens & Close To Abacoa With Tons Of Shops, Restauran...

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2800 N Hwy A1a #607, Hutchinson Island, FL - $274,800

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,174 SQFT
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Welcome To The Barclay Beach Club! The Barclay Is A Direct Oceanfront Condominium With Resort-like Amenities Located Just North Of The Fort Pierce Inlet. This 2 Bedroom 2 Bath Unit Comes With A Carport And Beautiful Ocean Views.

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301 Ocean Bluffs Blvd #103, Jupiter, FL - $400,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,385 SQFT
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Sweeping Lake Views From This Completely Renovated Oceanfront Condo! No Detail Was Overlooked-this Is Beachfront Living At Its Best. Featuring A Fun Coastal Vibe, This Condo Was Designer Decorated And Has An Expanded Chefs Kitchen With Custom Cabi...

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912 Club Dr, Palm Beach Gardens, FL - $255,000

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 2 Baths
  • 1,135 SQFT
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Rare Opportunity In The Highly Desirable Community Of Club Cottages Located In Pga National. This Corner Property Is One Of Eight Out Of 222 With The Additional Sliding Doors!! Tranquil Water Views From Front Door, Kitchen, Dining Room, Living Roo...

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5051 N Highway A1a #3-5, Hutchinson Island, FL - $270,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,257 SQFT
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Seaward - Lovely 2br,2ba With Tropical Ocean Views. Freshly Painted, Crown Molding, Large Balcony, Covered Parking Incl. Gated Ocean To River Complex. Sizes Are Approx/subj To Error.

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4739 Chancellor Dr #21, Jupiter, FL - $252,900

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,101 SQFT
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Everyone's Favorite Abacoa 2 Br, The Chesapeake Model! Lofted Floorplan Has 18-foot Living Area Ceilings! This Freshly Painted Unit Features Recent Upgrades: Quartz Countertops, 42'' Kitchen Cabinets, Stainless Appliances (all New In 2017), Lami...

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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 December 11th, 2019 at 1:31pm CST.