Lincoln, RI · Member since 2016 · 9 posts · 3 votes
I'm starting to look at a vacation rental to purchase in the east coast of Florida beach front area starting at Las Olas down all the way to Miami Beach. I've been to Miami beach for vacation and I love the area but the $$ is fairly high compared to what you can buy as you move up north. I'm trying to keep it under 250k with a goal of short term rental and use for a vacation once a year. Probably keep it for at least 5-10 years or longer unless the beach front goes underwater (literally). Can someone tell me what the differences or their preferences in the beach areas north of Miami? Sunny Isles, Hollywood, Las Olas... etc. Thanks!
I live in Sunny Isles for the last 10 years. It's a very nice and up-and-coming area. Very easy to find tenants. Has a nice beach, many restaurants, and close to Aventura mall.
Hollywood is good too, though not as advanced. You would have to drive to stores if you live on the beachside.
Las Olas is more like south beach. Lots of people and restaurants.
I have a few rentals here myself. The main thing is to buy in a building with easy rules for renting (the least restrictions as possible).
Let me know what exactly are you looking for, I will help you find a great investment property.
I live in Sunny Isles for the last 10 years. It's a very nice and up-and-coming area. Very easy to find tenants. Has a nice beach, many restaurants, and close to Aventura mall.
Hollywood is good too, though not as advanced. You would have to drive to stores if you live on the beachside.
Las Olas is more like south beach. Lots of people and restaurants.
I have a few rentals here myself. The main thing is to buy in a building with easy rules for renting (the least restrictions as possible).
Let me know what exactly are you looking for, I will help you find a great investment property.
Thanks for the offer. One thing I am noticing looking at various properties is how to find out what the condo rental policy is. Redfin is pretty good with the information but I question how accurate it really is.
Hi I live in the south Florida area and am also a vacation rental owner as well as a Vacation rental Manager /Booking and Travel agent.. I myself am also looking fo another vacation rental and am looking to rent in the South Beach area ..My obserbance is that sourh beach is the most lucrative for short term rentals.. You can try to purchase a nice rental in a Hotel Condo building.. I will gather some info for you and let you know what I find.. I am also a wholesaler so I have alot of connections with owners and brokers..
While condos can offer a cheap way to invest in vacation rentals finding a unique property will be a great way to earn higher yields. Being one of many reduces your pricing power. Another thing to keep in mind aside from the building's requirements and policies but also Miami Beach has a regulatory map on their website you can reference. Unfortunately I don't think there is an automated thing on Redfin or Zillow that tells you HOA requirements, many HOAs are small and behind the times on getting that data out there.
The key to finding a good vacation rental property is location, location, location. Also differentiate yourself from all the other vacation rental houses by offering great amenities such as Jacuzzi, proximity the beach, etc.
There are lots of regulations and rules depending on where you are looking for vacation rentals in South Florida. In a lot of areas in Miami and Miami Beach, it is highly specific with regards to zoning, and vary from HOA to HOA. Most associations do not allow short term rentals (daily, weekly, etc) unless it is a condo-hotel program. Some condo hotel programs let you self-manage your proerties, others stipulate a certain number of days that it must be placed in the condo hotel's management program while taking a heft amount of the gross rentals (as much as 50%). Also HOA fees are very high for condo/hotel buildings.
I have had my best success and results with several vacation rental properties (single family homes) I own in Ft. Lauderdale Beach. Great tenants, great properties, and the city is really embracing it. Feel free to message me if you have any further questions regarding short term vacation rentals in South Florida (particularly in Miami / Miami Beach / North Miami Beach / Hollywood / Hallandale / Ft. Lauderdale Beach & Pompano Beach). I am pretty familiar with the rules, regulations, and zoning in such areas.
@Ron Baxter if you search Airbnb and vbro for properties in St A , you will come up,with plenty of owners to talk to. If you invest in a beach front let me know, I vacation there multiple times a year. Best!