My BP Community, I'm interested in a single Family home in Panama City Beach Florida, I would purchase it as a STR/Vacation Rental, is anyone familiar or are investing in Panama City Beach, are they Airbnb friendly, do they do well, any permits needed, taxes, etc. ? As much or as little information as anyone could provide would be a significant help, I've done some research not much, but the best advice always seems to come from this community, BTW I'm a newbie, no investments yet, but on the path there......thx
@Crystal Chaillou you may want to chime In here
@Lorraine Patterson In Panama City Beach, there are some neighborhoods by virtue of their location, HOA, or local ordinance that are prohibited from being represented as a STR/Vacation rental. The short answer is it depends on where the house is. In unincorporated Bay County, a home on the east end or west end that is not under the city of Panama City Beach jurisdiction, will have different rules than those in the city. As far as permitting, not generally required but you must file bed taxes monthly or quarterly with the county and state, so its wise to use a property manager that can handle this all, in my opinion, when you're out of state. Have your realtor check on this. If the home already has a vacation rental history, then you might be good to go, UNLESS the city has an ordinance against it. There have been some recent ordinance changes in some of the popular neighborhoods.
@Yolanda Salas thanks this information helps a lot, When you say Property Manager do you recommend I use them for the long haul or just temporary until I get all my ducks in a row?
Check out this home at Realtor.com
2 beds · 2 baths
635 Lagoon Oaks Cir, Panama City Beach
@Lorraine Patterson obviously it's up to you whether for long haul or not, but STR means having a reliable local crew to clean check up on the property and maintain as needed. Lagoon Oaks Circle is in a subdivision north of the grand lagoon and is primarily long term residents. If you want long term rental income that would be a good choice. Vacation rentals here need to be walking distance to the beach. This place is not. I would highly recommend looking at areas south of Panama City Beach pkwy on the west side or south of Thomas Dr and or front beach rd on the east side if you're set on a single family home. The best earning vacation rentals at a reasonable purchase price are condos.
@Yolanda Salas do you have recommendations on homeowners insurance companies for short term rentals in Panama City?
Hi @Courtney Wilson - Yes happy to make a few recommendations - please message me
Hey Yolanda, you wouldn’t happen to have a recommendation for a property management company in PCB, FL for a long term rental would you?