St Pete/ St Pete Beach - vacation rental water access

St Pete/ St Pete Beach - vacation rental water access

Member since 2022 · 2 posts · 0 votes

Hello everyone! I am new to BP and currently looking for expert advice from local investors as a first time investor unfamiliar with the St Pete/ St Pete Beach real estate. My husband and I are looking for a vacation home we can partially use for personal enjoyment and partially as a vacation rental. We would like a property with water access. We are currently looking at real estate in three areas with our understanding of pros and cons: St Pete Beach Pass-A-Grille (pros: popular and high-end; cons: expensive and no short-term rental allowed); Tierra Verde (pros: unincorporated Pinellas, short term should be allowed; cons: isolated); St Pete Shore Acres/Venetian Isles (pros: proximity to downtown St Pete; cons: short-term rental not allowed). Shore Acres/Venetian Isles look very attractive on paper, but i’d appreciate some insights from locals as why it doesn’t seem like a sought after location to home buyers and mid-term renters (30+ days). 

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  • John UnderwoodPro Member
    Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
    3y

    I would only buy waterfront for the higher returns. That is all I rent when I go to the beach.

  • Realtor · PInellas County Largo, FL · Member since 2016 · 902 posts · 810 votes
    3y

    Shore Acres floods.  A lot.  It goes under a few inches when we get a day of rain. Check for how it looks during the storm (Ian) we are getting -- it will be pretty bad.  It's under mandatory evacuation right now.  More and more people are looking at the flood data and the insurance rates are getting pretty high.

    Water access/waterfront property does very well and will be considered a luxury rental in most cases.  You will have the downsides of the flood / evacuation zones but you will get the higher returns of a luxury rental on the water which "should" balance it out!  Tierra Verde is a nice area -- it's not in the thick of things but it's not too far to downtown ST Pete or beautiful beaches so it will get the same occupancy I would expect in other nice areas. 

  • Member since 2022 · 2 posts · 0 votes
    3y

    Thanks for the tips, Dan! I'll keep an eye out for the post-storm conditions. My big conundrum is if there is demand for mid-term (30+ days) rental in the St Pete Beach area... I know a lot of owners Airbnb their properties for STR, but I fear the rules will be more strictly enforced eventually...

  • Raymond J. RodriguesBusiness Member
    Lender · Miami, FL · Member since 2017 · 1k+ posts · 797 votes
    3y

    Hello @Elisabetta Gar, @Nicole Shaw helps quite a few people in the areas that you've mentioned with their short-term rental needs and am sure she can assist you with your questions. Feel free to reach out to her! I hope this recommendation helps. 

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