I am looking in the Sarasota area especially Siesta Key, Longboat Key, and Lido beach. I also see that Lakewood Ranch is up and coming. Can anyone give some insight and advice into this area? Thank you in advance.
Happy to connect and discuss the local rental restrictions for STR's on the Gulf Coast. Here is a good overview of Sarasota & Manatee, keep in mind North Port has no rental restrictions at all and the city of Sarasota is 1-week minimum, if you are Zoned RMF on the barrier islands STR use is allowed, lastly I would check out GulfPort by St. Pete for STRs.
The City of Anna Maria does allow short-term rentals; however, there are rules and requirements. One must register the vacation rental unit, pay applicable fees, submit a current license as a Transient Public Lodging Establishment (“TPLE”), and provide other required information. The registration must be renewed annually.
The vacation rental unit must be inspected for compliance with all local and state codes. The maximum occupancy permitted in a vacation rental unit is two (2) persons per bedroom larger than 100 square feet, plus one (1) person per bedroom greater than 70 square feet but less than 100 square feet, plus two (2) additional persons, or a total of eight (8) occupants, whichever is less.
The homeowner must post the required information on the property. The rental agreements between the owner and the renter must mandate language by the city.
Lastly, the owner or agent must be available by telephone twenty-four (24) hours a day, seven (7) days a week, to respond to police, fire, or other emergency personnel requests.
The City of Bradenton Beach allows short-term residential or vacation rentals, but the owner must obtain a permit or license from the Division of Hotels and Restaurants of the Department of Business and Professional Regulation, which is very similar to the Anna Maria requirements for the application of license as set forth above. Once a license has been issued, the City will provide an identification label which must be posted on the exterior of the property at all times when the property is being rented. A sign must be posted on the interior relating various information required by the city. Existing structures used for transient rental purposes must be upgraded to meet current requirements and codes. Information about solid waste handling and containment must be provided to the renter prior to the time of occupancy. Parking and the number of occupants must not exceed the limits set forth in the Certificate of Occupancy or the TPLE license issued by DBPR. Occupancy is limited to two (2) persons per bedroom plus two (2) additional people or one person per 100 square feet for a maximum of twelve (12) persons for any rental.
The City of Holmes Beach regulates vacation rental units and does not permit a unit to be rented or offered for rent without a valid vacation rental certificate, which is valid for two (2) years from the date of issuance. The minimum length that a vacation rental must be rented for depends on the zoning restrictions, which require either a thirty (30) day minimum rental or a one-week minimum rental, depending on where the property is located. The vacation rental certificate is similar to the City of Anna Maria and the City of Bradenton Beach; however, there are more documents and information required to be submitted, and the vacation rental unit and improvements must be inspected. The maximum overnight occupancy cannot be six (6) persons or two (2) persons per bedroom, whichever is greater. When advertising, the owner must include the maximum occupancy limit, parking information, minimum stay requirements, and other required information and statements. Additionally, a posting of vacation rental information and signs on or in the property must be posted.
The City of Bradenton does allow short-term rentals; however, a new ordinance regulates the operation of short-term rentals within the city limits and requires owners to register their properties and meet a number of criteria. To register, an owner must provide a completed application, proof of ownership, designation of a responsible party, a copy of the City of Bradenton’s business tax receipt, a current and active license as a TPLE, a current certificate of registration from the Department of Revenue, an exterior site sketch, an interior building sketch, a blank rental agreement, and any pre-existing rental agreements. The vacation rental must be available for inspection. The minimum posting requires that a notice be posted in a conspicuous location on an interior wall and must include all required information. All vehicles associated with the vacation rental shall be parked within the driveway or parking area located on the premises and in compliance with all City codes. The owner shall provide one off-street parking space for every four (4) persons of occupancy. The maximum occupancy is the lesser of two (2) persons per bedroom, plus two (2) additional persons, or one (1) person per 150 square feet climate-controlled space, or twelve (12) persons.
Manatee County does not have any short-term residential or vacation rental ordinances.
Rental Restrictions in Sarasota CountyBy: Matthew J. Kelly, Esq., Essenson Law Firm
Vacation rentals are governed differently by Sarasota County and the city of Sarasota. Vacation rentals within the unincorporated portions of Sarasota County are governed by Article 8, Section 124-131 of the Sarasota Uniform Development Code (“UDC”). In the city of Sarasota, vacation rentals located within the Coastal Islands Overlay District (“CIOD”) are governed by Chapter 34.5 of the city of Sarasota city code as of May 4, 2021.
Under the UDC, Sarasota County maintains a general prohibition against leases of less than thirty days. This applies to single-family and multiple-family properties in unincorporated portions of the county, with the exception of multiple-family properties on the barrier islands, which include Siesta Key, Casey Key, and Manasota Key. This means that an owner cannot legally operate a short-term (less than 30 days) vacation rental in the county, except for one zoned residential, multiple-family on the barrier islands.
The city of Sarasota does permit short-term vacation rentals with a minimum lease duration of one week. However, Chapter 34.5 of the city of Sarasota city code adds various new requirements on top of the minimum duration for those vacation rentals within the CIOD, which include St. Armand’s Key, Coon Key, Bird Key, Otter Key, Lido Key, and portions of Siesta Key.
Chapter 34.5 requires a certificate of registration for every vacation rental in the CIOD. An owner is required to apply separately to the city for an initial certificate via the city’s website for each vacation rental operated, which must be received prior to renting. Certificates of registration are non-transferable and non-assignable. This requires a buyer to apply for a new certificate of registration prior to acquiring ownership or no later than fifteen (15) days after acquiring ownership of the vacation rental, even if it was previously registered under the prior owner.
As part of the application, among many other requirements, an owner must identify a “designated responsible party” for the vacation rental, who may be the owner or another person. In addition to responsibility for general supervision, compliance, and maintenance, the designated responsible party must be available twenty-four (24) hours a day, seven (7) days a week in order to address issues that may arise from the operation of the vacation rental. The designated responsible party must be available on-site to address any issues as soon as one (1) hour following notification from an occupant, a city official, a code compliance officer, or law enforcement officer.
Prior to the city issuing a certificate of registration, the vacation rental is subject to inspection to ensure compliance with: (1) minimum safety requirements under section 34.5-12; (2) minimum information requirements under section 34.5-13; and (3) to confirm compliance with Chapter 34.5 generally as well as any other applicable provisions of the Sarasota City Code and Zoning Code.
The minimum safety requirements are set forth in section 34.5-12 and include compliance with the Residential Swimming Pool Safety Act, operation of smoke and carbon monoxide detection systems, and installation of fire extinguishers.
The minimum informational requirements are set forth in section 34.5-13 and include, among other things, providing: (1) the location of the nearest hospital; (2) the non-emergency police telephone number; (3) the dates and approximate times of trash and recycling pick up; (4) the street address of the vacation rental; (5) the name and phone number of the designated responsible party or parties; and (6) emergency evacuation instructions. There are other informational requirements based upon maximum occupancy and vehicles. All of the minimum information required must be posted in a conspicuous location inside the vacation rental or provided in a “welcome binder” left in a prominent location.
are you looking to purchase I assume? I own a rental on longboat, you just have to watch rules closely for the city you buy in and also the complex if its a condo. Longboat does not have many daily or weekly rental properties.
Do you have to rent yours out for a week or longer? Yes, there is not even much for sale on Longboat Key. I would not be doing a condo because I would use a DSCR loan.
Do you have to rent yours out for a week or longer? Yes, there is not even much for sale on Longboat Key. I would not be doing a condo because I would use a DSCR loan.
You can do a DSCR loan on a condo
longboat key limits most rentals on the island to 30 day minimum (that does not mean you can't rent it to them for the whole month but they only stay one week) our complex also limits how many times a year you can rent it out. every complex is different. some complexes are grandfathered in and can do nightly or weekly rentals but there are few. Even the single family homes on the island have the 30 day minimum though I believe. Also a home on longboat will set you back at least 1.5
Thank you. Yes, the homes on Longboat Key are not cheap. I can see them consistently rising and possibly being a good BRRRRs.
Get on the platforms and check out each area. Do the enemy method, look at ADR’s and calendars
I am looking in the Sarasota area especially Siesta Key, Longboat Key, and Lido beach. I also see that Lakewood Ranch is up and coming. Can anyone give some insight and advice into this area? Thank you in advance.
Yes very expensive and overpriced, I would wait ( I am ) to buy in Fl. For now I an renting on the beach in Jensen, I see a lot of properties way overpriced and sitting on the market. BTW Lakewood ranch, you missed that by about 5 years. Let things settle down.
All the best
Hi Doreen! I am a PM co owner in Tampa just North as well as a broker. Sarasota is very restrictive with their rules. The areas I have seen that are legal are also expensive and not great based on return. May I ask what it is about that area you were looking for specifically? There are some legal areas with great returns just a few miles North :)
Hi Doreen. I've been doing similar research and have found (as others have said) the restrictions in Sarasota County to be tough for STRs. I'm finding Manatee County to be much less restrictive. I'd be happy to connect and share/trade insight if interested -- let me know.
If you're looking for STRs on the beach, you'll have difficulty finding something that cash flows unless you can get optimal occupancy. This is rough given the established competition. Most purchases today are from folks looking to defray the cost of their second home. Longboat / Lido is heavily dominated by condos and their respective associations. There is little single-family inventory and anything typically considered a BRRR is usually torn down and redeveloped to maximize "highest and best use". Generally, the islands and the City of Sarasota remain open to STRs, but there is growing pushback. Greater Sarasota County allows 30+ rentals, but nothing shorter.
Lakewood Ranch was "up and coming" in 2004 and is a great master planned community but probably is not ideal for STR as there is no natural draw. It's 90 minutes to the beach most days and is probably better served toward longer term stays like digital nomads.
After over 30 years here, I've seen it transition from cash flow to appreciation. I wouldn't expect much pullback in price unless there's a 2008-style crisis. The demographic trends are proving extremely strong. If you want to be here, you should pull the trigger now.
Hope this helps.
Happy to connect and discuss the local rental restrictions for STR's on the Gulf Coast. Here is a good overview of Sarasota & Manatee, keep in mind North Port has no rental restrictions at all and the city of Sarasota is 1-week minimum, if you are Zoned RMF on the barrier islands STR use is allowed, lastly I would check out GulfPort by St. Pete for STRs.
The City of Anna Maria does allow short-term rentals; however, there are rules and requirements. One must register the vacation rental unit, pay applicable fees, submit a current license as a Transient Public Lodging Establishment (“TPLE”), and provide other required information. The registration must be renewed annually.
The vacation rental unit must be inspected for compliance with all local and state codes. The maximum occupancy permitted in a vacation rental unit is two (2) persons per bedroom larger than 100 square feet, plus one (1) person per bedroom greater than 70 square feet but less than 100 square feet, plus two (2) additional persons, or a total of eight (8) occupants, whichever is less.
The homeowner must post the required information on the property. The rental agreements between the owner and the renter must mandate language by the city.
Lastly, the owner or agent must be available by telephone twenty-four (24) hours a day, seven (7) days a week, to respond to police, fire, or other emergency personnel requests.
The City of Bradenton Beach allows short-term residential or vacation rentals, but the owner must obtain a permit or license from the Division of Hotels and Restaurants of the Department of Business and Professional Regulation, which is very similar to the Anna Maria requirements for the application of license as set forth above. Once a license has been issued, the City will provide an identification label which must be posted on the exterior of the property at all times when the property is being rented. A sign must be posted on the interior relating various information required by the city. Existing structures used for transient rental purposes must be upgraded to meet current requirements and codes. Information about solid waste handling and containment must be provided to the renter prior to the time of occupancy. Parking and the number of occupants must not exceed the limits set forth in the Certificate of Occupancy or the TPLE license issued by DBPR. Occupancy is limited to two (2) persons per bedroom plus two (2) additional people or one person per 100 square feet for a maximum of twelve (12) persons for any rental.
The City of Holmes Beach regulates vacation rental units and does not permit a unit to be rented or offered for rent without a valid vacation rental certificate, which is valid for two (2) years from the date of issuance. The minimum length that a vacation rental must be rented for depends on the zoning restrictions, which require either a thirty (30) day minimum rental or a one-week minimum rental, depending on where the property is located. The vacation rental certificate is similar to the City of Anna Maria and the City of Bradenton Beach; however, there are more documents and information required to be submitted, and the vacation rental unit and improvements must be inspected. The maximum overnight occupancy cannot be six (6) persons or two (2) persons per bedroom, whichever is greater. When advertising, the owner must include the maximum occupancy limit, parking information, minimum stay requirements, and other required information and statements. Additionally, a posting of vacation rental information and signs on or in the property must be posted.
The City of Bradenton does allow short-term rentals; however, a new ordinance regulates the operation of short-term rentals within the city limits and requires owners to register their properties and meet a number of criteria. To register, an owner must provide a completed application, proof of ownership, designation of a responsible party, a copy of the City of Bradenton’s business tax receipt, a current and active license as a TPLE, a current certificate of registration from the Department of Revenue, an exterior site sketch, an interior building sketch, a blank rental agreement, and any pre-existing rental agreements. The vacation rental must be available for inspection. The minimum posting requires that a notice be posted in a conspicuous location on an interior wall and must include all required information. All vehicles associated with the vacation rental shall be parked within the driveway or parking area located on the premises and in compliance with all City codes. The owner shall provide one off-street parking space for every four (4) persons of occupancy. The maximum occupancy is the lesser of two (2) persons per bedroom, plus two (2) additional persons, or one (1) person per 150 square feet climate-controlled space, or twelve (12) persons.
Manatee County does not have any short-term residential or vacation rental ordinances.
Rental Restrictions in Sarasota CountyBy: Matthew J. Kelly, Esq., Essenson Law Firm
Vacation rentals are governed differently by Sarasota County and the city of Sarasota. Vacation rentals within the unincorporated portions of Sarasota County are governed by Article 8, Section 124-131 of the Sarasota Uniform Development Code (“UDC”). In the city of Sarasota, vacation rentals located within the Coastal Islands Overlay District (“CIOD”) are governed by Chapter 34.5 of the city of Sarasota city code as of May 4, 2021.
Under the UDC, Sarasota County maintains a general prohibition against leases of less than thirty days. This applies to single-family and multiple-family properties in unincorporated portions of the county, with the exception of multiple-family properties on the barrier islands, which include Siesta Key, Casey Key, and Manasota Key. This means that an owner cannot legally operate a short-term (less than 30 days) vacation rental in the county, except for one zoned residential, multiple-family on the barrier islands.
The city of Sarasota does permit short-term vacation rentals with a minimum lease duration of one week. However, Chapter 34.5 of the city of Sarasota city code adds various new requirements on top of the minimum duration for those vacation rentals within the CIOD, which include St. Armand’s Key, Coon Key, Bird Key, Otter Key, Lido Key, and portions of Siesta Key.
Chapter 34.5 requires a certificate of registration for every vacation rental in the CIOD. An owner is required to apply separately to the city for an initial certificate via the city’s website for each vacation rental operated, which must be received prior to renting. Certificates of registration are non-transferable and non-assignable. This requires a buyer to apply for a new certificate of registration prior to acquiring ownership or no later than fifteen (15) days after acquiring ownership of the vacation rental, even if it was previously registered under the prior owner.
As part of the application, among many other requirements, an owner must identify a “designated responsible party” for the vacation rental, who may be the owner or another person. In addition to responsibility for general supervision, compliance, and maintenance, the designated responsible party must be available twenty-four (24) hours a day, seven (7) days a week in order to address issues that may arise from the operation of the vacation rental. The designated responsible party must be available on-site to address any issues as soon as one (1) hour following notification from an occupant, a city official, a code compliance officer, or law enforcement officer.
Prior to the city issuing a certificate of registration, the vacation rental is subject to inspection to ensure compliance with: (1) minimum safety requirements under section 34.5-12; (2) minimum information requirements under section 34.5-13; and (3) to confirm compliance with Chapter 34.5 generally as well as any other applicable provisions of the Sarasota City Code and Zoning Code.
The minimum safety requirements are set forth in section 34.5-12 and include compliance with the Residential Swimming Pool Safety Act, operation of smoke and carbon monoxide detection systems, and installation of fire extinguishers.
The minimum informational requirements are set forth in section 34.5-13 and include, among other things, providing: (1) the location of the nearest hospital; (2) the non-emergency police telephone number; (3) the dates and approximate times of trash and recycling pick up; (4) the street address of the vacation rental; (5) the name and phone number of the designated responsible party or parties; and (6) emergency evacuation instructions. There are other informational requirements based upon maximum occupancy and vehicles. All of the minimum information required must be posted in a conspicuous location inside the vacation rental or provided in a “welcome binder” left in a prominent location.
Check out buy.rabbu -- it'll show you on-market properties in those areas that are underwritten as STRs. makes analysis and getting started a bit easier :)
Doreen, did you end up buying in Sarasota area? I am also considering starting a STR in this area.