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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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88 Stoney Dr, Palm Beach Gardens, FL - $440,000

Residential, Single Family Detached
  • 3 Beds
  • 4 Baths
  • 2,235 SQFT
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Light & Bright Corner Lot 3bed/3.5bath With 2 Master Suites (downstairs & Upstairs). Open Kitchen Includes; Hi-mac Corian Countertops, Diagonal Tile Backsplash, Gas Cook Top, Tons Of Cabinet Space + Shelved Storage Pantry. Separate Living Room Has...

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101 Ocean Bluffs Blvd #204, Jupiter, FL - $515,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,385 SQFT
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Rarely Available! Enjoy Serene Ocean & Lake Views From This Completely Remodeled Ocean At The Bluffs Condo Located In The Highly Desired 101 Building, Which Is Just Steps From The Pool And Your Private Beach Access. With Nothing But The Highest Of...

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5480 N Ocean Dr #a6b, Singer Island, FL - $480,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,330 SQFT
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Surround Yourself With A Sparkling Turquoise Ocean View From The Wrap Around Patio On 6th Floor! At Night Enjoy The Sunset And City Lights Over The Intracoastal. Watch The Turtles At Night On The Beach, Sea Birds, And Boats.. Go Down To The Bea...

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126 Day Lily Dr, Jupiter, FL - $299,000

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 3 Baths
  • 1,413 SQFT
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Nicely Maintained 3 Br, 2,5 Ba Corner Cbs Townhome Located Just Steps From The Community Pool, Clubhouse And Green Space In The Desirable Oak-lined Streets Of The Newhaven Community Of Abacoa. Close To Restaurants, Shops And A-rated Schools. Ready...

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1507 15th Ter, Palm Beach Gardens, FL - $277,000

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 3 Baths
  • 1,488 SQFT
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Remodeled 2/2.5 Townhouse Plus A Bonus Room On The First Floor Located In Beautiful Palm Beach Gardens Neighborhood Of Glenwood/pga National. A High End Kitchen With Stainless Steel Appliances, Large Island, All Wood White Shaker Soft Close Cabine...

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9966 Sw Ventura Dr, Palm City, FL - $625,000

Residential, Single Family Detached
  • 4 Beds
  • 4 Baths
  • 2,937 SQFT
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The Equestrian Community Of Stuart West Is Conveniently Located With Easy Access To I95 For Those Families Or Family Members Commuting North Or South On A Regular Basis. Enjoy The Safety And Security Of The Manned Guard Gate And The Family Privacy...

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514 N Dover Rd, Tequesta, FL - $419,900

Residential, Single Family Detached
  • 4 Beds
  • 2 Baths
  • 1,836 SQFT
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Lovely Cbs Pool Home 4 Bedroom, 2 Bath, One Car Garage,on A Quiet Street, Minutes To Jupiter Beach, Jupiter Lighthouse, Restaurants, A Rated Schools And More. Split Floor Plan With Two Guest Rooms On One Side Of The Home And The Master Bedroom And...

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2916 Tuscany Ct #109, Palm Beach Gardens, FL - $219,900

Residential, Condo or Coop
  • 3 Beds
  • 2 Baths
  • 1,356 SQFT
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3 Bedroom, 2 Full Bath First Floor Corner Unit In San Matera Living Area Floors Are Tile, Carpets In Bedrooms.a/c 2016, D/w 10/17, W/d 2018. Great Location Across From Gardens Mall, Beaches, I95 And More.

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N/A, Palm Beach Gardens, FL - $395,000

Residential, Single Family Detached
  • 4 Beds
  • 3 Baths
  • 2,028 SQFT
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Enjoy Breathtaking Sunsets From The Lushly Tropical Pool And Patio Area Of This Beautiful Divosta Home Located In The Pristine Gated Community Of Carleton Oaks. This Oakmont Model Features A Spacious Great Room, 3 Bedrooms, Den, 2 Baths, All Tile ...

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1100 Rainwood Cir W, Palm Beach Gardens, FL - $450,000

Residential, Single Family Detached
  • 4 Beds
  • 3 Baths
  • 2,269 SQFT
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Spectacular Gardens 4/3/2 Car Garage Home With A Grand Kitchen Recently Remodeled And Designed By An Italian Chef! Freshly Painted For A Welcoming Ambiance Inside And Lush Florida Landscaping Outside Creates The Ideal Setting For Your New Chapter ...

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1000 N Us Highway 1 Hwy #ba302, Jupiter, FL - $600,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,441 SQFT
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Magnificent Long Views Of The Intracoastal Waterway From This Condo At Jupiter Harbour. Every Room Has Sliders To The Screened Patio That Runs The Length Of The Condo. Custom Cabinetry, Granite Counters, Tile On The Diagonal Split Floor Plan, Wal...

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1805 Mainsail Cir, Jupiter, FL - $459,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,624 SQFT
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This Beautiful Condo Has A Wide Open Floor Plan With A Newly Remodeled Kitchen. This Unit Comes Totally Furnished..(minus The Two White Rockers). This Community Is Directly Across From The Beach W Private Access. Dog Friendly Community And Th...

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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 2020 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed.
© 2020 Beaches Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on April 2nd, 2020 at 4:15am CDT.