Venice Florida Area STR

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Venice Florida Area STR

Doug Wade
Rental Property Investor · Cumberland, MD · Member since 2014 · 47 posts · 15 votes

Looking all over Florida for an area that appeals to my wife and I.

Currently looking at Venice Fl. We understand that it is an area for a lot of retirees. It is Somewhere about and hour south of Sarasota.

Not necessarily looking for a killing, just a good area that we also can enjoy for ourselves.

Wondering if anyone is familiar with the town and what are the STR prospects in the area??

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Zeona McIntyrePro Member
Real Estate Agent · Boulder, CO · Member since 2015 · 285 posts · 226 votes
4y

Hi @Doug Wade, 

You can look at projected rental income in Airdna.co, simply go to the Rentalizer tool under Invest and enter any address in the US. You can then adjust the number of guests and it will give you three metrics: Avg occupancy, avg nightly rate, annual income. Keep in mind that all Short-term rentals are seasonal but this can give you a good idea of the investment is viable. I have a fantastic lender in Florida if you would like to be connected. Good Luck! 

Podcast Guest on Show Seeing Greene: Why Are My Rental Property Returns Looking So Bleak?
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  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    4y
    Quote from @Doug Wade:

    Looking all over Florida for an area that appeals to my wife and I.

    Currently looking at Venice Fl. We understand that it is an area for a lot of retirees. It is Somewhere about and hour south of Sarasota.

    Not necessarily looking for a killing, just a good area that we also can enjoy for ourselves.

    Wondering if anyone is familiar with the town and what are the STR prospects in the area??

    @Alvin Taveras might be able to assist you if you’re looking at the West Coast of Florida. 

    [email protected]619-456-8311
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  • Robin Searle
    Real Estate Agent · Colorado Springs, CO · Member since 2017 · 224 posts · 201 votes
    4y

    @Doug Wade - I just bought a home last year in Venice and absolutely am in love with the area! My brother and sister in law are Realtors there with 30+ years of experience and found me an amazing deal. The neighborhood I bought in doesn't allow STR's but I have 3 short term rentals in Colorado Springs and would be happy to answer any questions you have on those. I'm finding the returns far exceed my expectations! Heading back to Venice at the end of April and wish I was going now as we are looking at 5 days of non-stop snow in the Springs!

    1Reply
  • Zeona McIntyrePro Member
    Real Estate Agent · Boulder, CO · Member since 2015 · 285 posts · 226 votes
    4y

    Hi @Doug Wade, 

    You can look at projected rental income in Airdna.co, simply go to the Rentalizer tool under Invest and enter any address in the US. You can then adjust the number of guests and it will give you three metrics: Avg occupancy, avg nightly rate, annual income. Keep in mind that all Short-term rentals are seasonal but this can give you a good idea of the investment is viable. I have a fantastic lender in Florida if you would like to be connected. Good Luck! 

    Podcast Guest on Show Seeing Greene: Why Are My Rental Property Returns Looking So Bleak?
    3Reply
  • Ab Basu
    VA · Member since 2015 · 4 posts · 2 votes
    4y

    Venice is less than 20 miles south from Sarasota (not hour or more per your post). We have friends and relatives who have bought in Venice within the last year and love the area. Venice used to be known as the place where Sarasota retirees' parents lived. I would check the area census info but our observation recently is that you have all ages. One friend who bought in Venice last summer lives in Maryland and his HOA in Venice allows to rent twice a year for three months at a time. They have been able to do this twice for great rental income and stay there partially even though they bought last summer. The STR rules can be stringent so find a good realtor who knows the area and rules.

    We have a STR in north part of Sarasota near University mall - HOAs up there vary between one month minimums to three months or more type rules. Ours is v strict - although it has a one month minimum the HOA insists on at least 30 days in advance written applications with $100 fee and credit pull. It deters a lot of potential people opting for our place. STRs are not easy in the area - BUT - big BUT- the STR rates across the board are very strong/far above long term lease rates and so for us the STR has worked. The highest rates are during the winter season - and we are always booked during those months. Last year/fully booked all year despite the v onerous HOA rules. HOA management knows us well but also respects that we follow the rules and promptly answer any of their questions/info needs. Why have we done this? Appreciation has been terrific and the property has rented out well for years.

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  • Ward Dement
    Sarasota, FL · Member since 2018 · 17 posts · 13 votes
    4y

    @Doug Wade Venice is located in Sarasota County.  The county requires a minimum of 30 days on STRs.  There are exceptions for the barrier islands and within the city limits of Sarasota.

    2Reply
  • Jaron WallingPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
    4y

    Does Venice Florida have any floating buildings or canals? Something to consider given global warming and all that... 

    1Reply
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