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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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5737 Se Crooked Oak Av, Hobe Sound, FL - $359,800

Residential, Single Family Detached
  • 4 Beds
  • 3 Baths
  • 2,327 SQFT
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Lovely 4 Bedrooms , 2 & Half Bathrooms In A Quiet Gated Community, Upgrades Throughout All Upstairs And All Bedrooms Installed Premium Wood-based Laminate Floor, Screened Patio, Walk In Pantry, Lots Of Room For Family.

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11865 Hemlock St, Palm Beach Gardens, FL - $434,900

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,761 SQFT
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Rarely Available Single Family Home In Garden Woods! One Story Home With No Hoa, Large Backyard And One Of The Best Locations In Palm Beach County Minutes From I95, Downtown At The Gardens, Restaurants, Shopping And The Beach! Brand New Kitchen Wi...

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84 Satinwood Lane, Palm Beach Gardens, FL - $559,900

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 2,492 SQFT
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Lakefront Spectacular, Rarely Available Lake Views Surround This Beautifully Open Floor Plan, Bright & Spacious, 3br / 21/2ba + Loft, Pool Home Located In The Highly Sought-after, Private Security Gated Community. Desirable Features Include Soarin...

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11018 Legacy Dr #203, Palm Beach Gardens, FL - $269,900

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,309 SQFT
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This Condo In The Highly Desired Legacy Place Is Situated In A Perfect Location Within The Community. This Second Floor Corner Unit With Northern Exposure Facing The Lake With A Garage And 2 Parking Spaces Was One Of The First Condos Selected For ...

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65 Via Verona, Palm Beach Gardens, FL - $475,000

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 2,093 SQFT
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:breathtaking Views Of Golf And Water From This Unique Home With 3 Bedrooms/2.5 Baths And 2 Car Garage. The Home Is Unique Because The Wall In The Living Room Has Been Removed And From The Moment You Walk Into The House You See The Entire Downstai...

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7839 Se Spicewood Cir, Hobe Sound, FL - $269,500

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 2 Baths
  • 1,553 SQFT
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''best Deal In Lost Lake Prime 2/br 2/bath Non-smoker Unit W/ Recent Major Roof And Eaves/ Patio Enclosure/ Plumbing/ Hvac Closet Restorations And/or Replacements. Roof And Eaves Restored To ''as-new'' Condition By Top Contractor. Project Photo...

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13415 Cross Pointe Dr, Palm Beach Gardens, FL - $259,000

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 2 Baths
  • 1,553 SQFT
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155 Sims Lane, Jupiter, FL - $389,900

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,800 SQFT
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Right In The Middle Of Jupiter Location With Water Access! This 3 Bedroom, 2 Bath Home Plus Bonus Room Off Of Master Is A One Of A Kind. Completely Renovated Kitchen With Updated Cabinetry, Granite Countertops And Tons Of Pull Out Drawers. Cente...

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9500 S Ocean S Dr #1208, Jensen Beach, FL - $340,000

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,224 SQFT
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Islandia Ii - 12th Floor With Ocean And Intracoastal Views. Features Include: Replaced A/c System, Replaced Water Heater, Replaced Rollers On Sliders, Accordion Shutters, French Door Entry Into Guest Bedroom And Replaced Stainless Steel Refriger...

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11232 N 83rd Lane, Palm Beach Gardens, FL - $599,990

Residential, Single Family Detached
  • 4 Beds
  • 3 Baths
  • 2,712 SQFT
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Beautiful Ranch Style Home Offers A Peaceful Setting In The Highly Desirable Rustic Lakes Community. Equestrian And Pet Friendly, Custom Kitchen, Open Floor Plan With Split Bed Room Layout, Freshly Painted Inside And Out, Full Window Storm Protec...

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2425 San Pietro Cir, Palm Beach Gardens, FL - $329,000

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 4 Baths
  • 2,056 SQFT
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Desirable Amalfi Model, Centrally Located Harbor Oaks With Resort Style Amenities. This Home Has Direct Water View, Two Master Bedrooms Each With Private Bath And Walk-in Closet. Den/office On First Floor Can Be Used As Third Bedroom With Its Own ...

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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 2018 Beaches MLS. This information is not verified for authenticity or accuracy and is not guaranteed.
© 2018 Beaches Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on December 11th, 2018 at 9:00pm CST.