Space Coast, Merritt Island, Melbourne STR's

Member since 2021 · 4 posts · 7 votes

Hi All,

Interested to hear feedback on the space coast, specifically Merritt Island/Cocoa Beach all the way down to Melbourne Beach for short term rentals. I have one STR up in St. Augustine on Anastasia Island that does extremely well but inventory is so limited there at the moment that I'm considering expanding my search radius. I've seen Cape Canaveral has stricter regulations around STR so I'm likely not including that area. Would love to hear from other investors with STR's in this area. Thanks!

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Kerry BairdPro Member

Rental Property Investor · Melbourne, FL · Member since 2011 · 3k+ posts · 2k+ votes

I have a couple of houses in Melbourne Beach. I had to register them for $500 each, and get a fire inspection from the local municipality (I walked in and asked at the Town Hall on Ocean Avenue).

Indialantic is a hard NO on STRs, while Indian Harbour Beach is a YES, but with restrictions. Rockledge is a hard NO. I have a house there, and no cigar, so I keep it as a long term rental. My appraiser at one time told me that he had a few STRs in IHB. An agent of mine said they are allowed on the East of A1A, as long as HOA does not prevent them.

You probably know this, but for late comers, I pay FL and county taxes, and am licensed at the State.

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Tchaka Owen
Real Estate Agent · Merritt Island, FL · Member since 2017 · 986 posts · 1k+ votes
3y
Quote from @Samuel Boyd:

Good stuff, Samuel! Merritt Island is a tough one to crack......your research may be correct, however I've heard numbers from 7 days to 90. One I did hear is that the 7-day applies to properties on lots zoned "multi". It's been extremely difficult to get concrete answers. If I find new info, I will share.

Tchaka Owen
Xcellence Realty, Inc.
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Bryan Egner
Investor · Dayton Ohio · Member since 2020 · 10 posts · 4 votes
3y
Quote from @Samuel Boyd:

@Alyssa Johnson as mentioned, it really comes down to each municipality. I curated this list for myself about the rules and regulations for the city's I personally deal most in. Hopefully this will be helpful! I can send the spreadsheet if this screen grab is too blurry. As we know, you will make more on the beaches, but property values are much higher, so you'll really have to analyze the ROI. Good luck!!

I might be miss-understanding the zoning code descriptions, but in Melbourne, I thought R1A (low-density residential) does not permit STRs but I could be wrong?
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Rick WiedenhoeftPro Member
Real Estate Agent · Melbourne, FL · Member since 2015 · 37 posts · 28 votes
3y
Quote from @Megan Rycroft:

Thanks this is helpful! I did find that map previously, as well! I have reached out to a few realtor on BP for help in the area, with no luck. Any suggestions from anyone?

Hi Megan, I'm a Realtor/investor and focus more mainland in the MTR arena. I love that most MTR properties avoid the issues facing STR, so we are pouring our resources in that direction. Happy to talk to you about it if you'd like. Let's connect!
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