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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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4253 Sw Brookside Dr, Palm City, FL - $495,000

Residential, Single Family Detached
  • 4 Beds
  • 3 Baths
  • 2,758 SQFT
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Stunning Custom Built Pool Home. Spacious 4 Bedroom, Plus Office, 3 Bath Open Floor Plan With Volume Ceilings And Crown Molding. 3 Car Garage List Of Updates: 2018 Metal Roof, New Exterior Paint, Landscaping, Newer Ac Units, Updated Pool Salt ...

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3387 Bermuda Rd, Palm Beach Gardens, FL - $295,000

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,176 SQFT
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Nice Home In Cabana Colony. Spacious With Newer Kitchen And Bath. Perfect Family Home With Room For A Pool. No Hoa! Pictures Coming Soon!!

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2937 Sw Brighton Way, Palm City, FL - $333,000

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,952 SQFT
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Divosta-built Hampton Model 3/2/2 Poured Concrete Walls, 10 Ft Vaulted Ceilings 1952 Sq Ft Plus 13 X 22 Glass/screened Enclosed Tiled Lanai. New Metal Roof Which Includes 3 Sky Lights, Guttering And Painted 2015. New A/c 2019. Double Front Doors E...

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2630 Ne Pinecrest Lakes Blvd, Jensen Beach, FL - $498,950

Residential, Single Family Detached
  • 4 Beds
  • 4 Baths
  • 2,624 SQFT
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Unique, Highly Desirable, Private Cbs Pool Home Located On Huge >1 Acre Lot In Desirable, Low Hoa, Pinecrest Lakes. 4 Bedrooms, Split Plan With 3 And 1/2 Baths, 1 Serves As Under A/c Cabana (additional Under Air No On Tax Rolls) To Large, Screened...

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10445 154th Rd N, Jupiter, FL - $569,000

Residential, Single Family Detached
  • 4 Beds
  • 2 Baths
  • 2,484 SQFT
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2012 Cbs Construction With Great Location In Jupiter Farms. A Welcoming Entry Leads You To An Open Concept Floor Plan With High Vaulted Ceilings Laminate Wood Flooring Throughout The House, And A Split Floor Plan. The Kitchen Opens Up To A Very La...

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3027 Franklin Pl, Palm Beach Gardens, FL - $599,000

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 4 Baths
  • 2,148 SQFT
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Welcome To Alton, Palm Beach Gardens' Award-winning Community Located Next To Town Center W/ Easy Access Superb Dining, Retail & Entertainment. This End-unit 2019 Townhome Is Loaded W/ Luxurious Upgrades Including 24x24 Porcelain Tile, Cambria Qua...

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300 N A1a #a205, Jupiter, FL - $269,900

Residential, Condo or Coop
  • 2 Beds
  • 2 Baths
  • 1,240 SQFT
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Spacious Condo In The Best Location Near Dubois Park, Jupiter Inlet, Carlin Park Beach & Heart Trail, Maltz Theater, Restaurants, And Historical Lighthouse. Pet Friendly Community With Two Pools & Clubhouses And An On Site Manager. Plenty Of Stor...

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1605 S Us Highway 1 #sl11h, Jupiter, FL - $305,780

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 2 Baths
  • 1,220 SQFT
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Sealofters Designed For The Adventurous, The Loft Unit Features Three Separate Elevations Of Tropical Living Area. Open-riser Stairs Lead Up From The Enclosed Private Courtyard To The Second Level Living Area. Large Tinted-glass Doors Open To...

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3358 N Meridian Way #a, Palm Beach Gardens, FL - $226,000

Residential, Single Family Detached
  • 2 Beds
  • 2 Baths
  • 1,184 SQFT
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This Updated Townhome Is Ready To Move In. Beautiful Granite/stainless Kitchen, Renovated Bathrooms And Porcelain Tile And Wood Floors Throughout. Other Upgrades Include: Custom Stone Work On Fire Place And Stairs, Walk-in Closet In Master, Stairw...

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2085 Sw Olympic Club Terr Ter, Palm City, FL - $254,900

Residential, Single Family Detached
  • 2 Beds
  • 2 Baths
  • 1,231 SQFT
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Adorable Single Family Home In A Tranquil Setting With Peaceful Outdoor Living Space. Volume Ceilings, And Lovely Landscaping Adorn This Cozy Home In The Heart Of Palm City.

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12655 Se Old Cypress Dr, Hobe Sound, FL - $289,000

Residential, Condo or Coop
  • 3 Beds
  • 3 Baths
  • 1,900 SQFT
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Lovely Gated Community In A Fantastic Location In Beautiful Hobe Sound, 2 Miles To Jupiter Island Beach, 4 Miles To I-95, 30 Minutes To Palm Beach Intl Airport. You Will Have Use Of The Heated Pool & Spa. This Freshly Painted 3 Story, 3 Bedroom, 3...

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1712 Sw Shady Lakes Ter, Palm City, FL - $314,000

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 2 Baths
  • 1,680 SQFT
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Filled With Natural Light & Beautifully Kept This Divosta Built Cbs Extended Capri Model Home Offers: 2 Spacious Bedrms W/ Walk In Closets, 2 Full Bathrms & A 2 Car Garage.boasting Its Great Quality & Elegance This Home Includes:an Extended Large ...

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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 January 27th, 2020 at 3:15am CST.