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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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2393 Sw Murphy Rd, Palm City, FL - $549,500

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 2,216 SQFT
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Boater's Dream Home! Enjoy The Florida Lifestyle In Your Ocean Access, No Fixed Bridges, Canal Front Home W/private Dock & Boat Lift! Beautiful Cbs Courtyard Pool Home Offers 2br, 2ba In The Main Home & 1br/1 Ba Separate Guest Suite. Impressive Op...

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112 Evergrene Pkwy, Palm Beach Gardens, FL - $318,900

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 3 Baths
  • 1,610 SQFT
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This 3 Bedroom, 2.5 Bath, 2 Car Garage Townhome Is Just Beautiful! Master Bedroom & Ensuite Bath On 1st Floor, W/ 2nd & 3rd Bedrooms W/ Full Bath & Small Loft/desk Area On 2nd Floor. 1 Year Home Warranty. Beautiful Wood-look Floors On 1st Floor & ...

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3360 S Ocean Blvd #2, Palm Beach, FL - $640,000

Residential, Condo or Coop
  • 3 Beds
  • 3 Baths
  • 2,119 SQFT
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Wonderful Intracoastal Views From All The Rooms. Create Your Dream Condo From This 3 Bedroom Unit With Its Own Cabana By The Sea. This Building Has 24 Hour Doorman, Full Time Manager On Site And One Of The Best Exercise Rooms In The Area. There Is...

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3860 Shearwater Dr, Jupiter, FL - $639,000

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 2,326 SQFT
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Sensational Updated Single Family Home With Renovated Kitchen And Bathrooms, A Newer Roof, And An Appealing Screened Covered Patio. Interior Features A Split Floor Plan With 2,326 S.f. Of Living Space Featuring Open Living And Dining Areas, U...

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2295 S Ocean Blvd #220, Palm Beach, FL - $320,000

Residential, Condo or Coop
  • 1 Bed
  • 2 Bath
  • 1,007 SQFT
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Renovated Unit With Direct Access To Ocean/beach From Patio. Doorman Building With Garage Parking And All Amenities. Rental Permitted Once Every 4 Years.

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407 Resort Lane, Palm Beach Gardens, FL - $549,000

Residential, Townhouse / Villa / Row
  • 2 Beds
  • 3 Baths
  • 1,910 SQFT
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Enjoy Tranquil And Peaceful Water Views From This Wonderful Mediterranean Villa Located In The Charming Resort Villa Enclave Of Pga National Located Just A Short Walk From The Renowned World Class Pga National Resort And Spa, Home Of The Honda Cla...

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8036 Murano Cir, Palm Beach Gardens, FL - $314,900

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 3 Baths
  • 1,728 SQFT
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Freddie Mac First Look Initiative Through 11/06/2019. A Homesteps Property. Sold As-is. Seller Will Pay Owners Title Policy If Buyer Closes W/seller's Title Agent.

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4093 Sw 66th Av, Palm City, FL - $579,000

Residential, Single Family Detached
  • 4 Beds
  • 3 Baths
  • 1,975 SQFT
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Great Home Locate In Palm City Farms On 5 Acres. This Home Has Never Been Lived In And Looks New. There Is Plenty Of Room For An Extra Structure Or Barn. Very Private Setting.

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17723 Carver Av, Jupiter, FL - $499,000

Residential, Single Family Detached
  • 4 Beds
  • 4 Baths
  • 2,034 SQFT
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Designed, Maintained And Landscaped With A Meticulous Eye For Detail And High Quality Finishes. This Centrally Located Home Resides In The Sought After Cinques Park District And Is A Short Distance To The Brand New Dog And Recreational Park. Over...

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4891 Sw Parkgate Blvd, Palm City, FL - $385,000

Residential, Single Family Detached
  • 3 Beds
  • 3 Baths
  • 2,679 SQFT
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Gorgeous Remodeled Pool Home Located In Piper's Landing Yacht And Country Club. This Home Has The Ultimate Private Setting Overlooking A Small Lake. Winged Foot Model Has Been Updated To Reflect The Open Floor Plan Living With Lots Of Light And Hi...

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1044 Piccadilly St, Palm Beach Gardens, FL - $439,000

Residential, Townhouse / Villa / Row
  • 3 Beds
  • 3 Baths
  • 2,138 SQFT
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Located In The Heart Of Palm Beach Gardens! This Beautiful, Open And Newly Constructed Town Home Is Situated In The Sought After Hampton Cay Community And Is A Must See! Gorgeous And Popular Bonaire Model With Many Upgrades In A Private Location W...

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4308 Dawnridge St, Palm Beach Gardens, FL - $335,000

Residential, Single Family Detached
  • 3 Beds
  • 2 Baths
  • 1,429 SQFT
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Wow, Upgraded Pool Home In Gardens. Fully Privacy Fenced Back Yard. Newer Kitchen And New Bathrooms. Tile Throughout The Whole Home. Pool Was Resurfaced And A New Deck Was Added In 2014, Circular Driveway. Don't Miss This Home.

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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 October 17th, 2019 at 11:00pm CDT.