Invest in Short Term Vacation Rentals in Tampa Bay

Doing short vacation rentals in Florida has become a really profitable business. If you re in a right vacation spot you can expect to make anywhere from $30,000-$45,000 a year. I recently sold a rental property that makes over 37,000 only in 236 days. Average rent is $157 per night.

Some vacation rentals can be very lucrative and it depends on expense income ratio.

There are couple of things you need to consider when investing in vacation rental property.

First of all it a location. In Florida it’s better if its a place somewhere close to the beach, where vacationers want to be. So look for a community that offers resort style amenities and that is closer to the beach. The condo that I mentioned that makes over 37,000 is located on Isla del Sol which is a very popular Airbnb spot. It is a resort style island with championship golf course and private beaches.

People come to Isla del Sol every year and rent the same condos, so it is a perfect place where you can build a clientele, because once you get repeat customers, they would usually book your condo for the next year ahead. 

Another thing to consider when investing in AriBnB is local ordinances. You need to make sure that local ordinances allow you to rent your condo in short terms. That’s what makes everything easier on Isla del Sol, it is a very friendly place to rent your condo here. There is no limit as to how often you can rent your condo and minimal lease period is 7 days.

Now the last thing to consider when investing in Airbnb is expense income ratio. You need to minimize your expenses that’s what will ensure that you make the most out of your profit. So choose a community where association fees cover extra expenses. Like flood insurance, cable, internet and water. On Isla del Sol associations have master flood insurance policy and many communities signed service contract directly with cable and internet provider, so you don’t have to pay for cable and internet separately. Also association fees cover water, sewer and maintenance. So the only monthly bill you would need to pay for is electricity. And that’s what makes vacation rentals on Isla del Sol such a great investment, you can keep the most out of your rental income while keeping you expenses very minimal. 

I hope that information was helpful, if you are looking to invest in profitable real estate give me a call, you can also submit electronic request.