Does it make sense to rent West Palm Beach house with Airbnb?

24 Replies

I own rental house in West Palm Beach are that was successfully rented last 4 years.

Now I am exploring short term rental opportunity through Airbnb and etc. Goal is to have  chance to stay sometimes there on Christmas or Thanksgivings myself. And also I read some horror stories about problems with eviction of not paying tenants. Would, anybody , please, share his or her experience with Airbnb or VRBO. Can I make some money? My previous rent was 1800$ a month, now it is 2000$. House has a pool and located just across the bridge from Singer Island, 1 mile from good free public beach. Does it make sense to go from 1 year rent to Airbnb kind of rent?

I stayed myself with Airbnb in Italy and California, but totally new as Airbnb host.

Originally posted by @Alex Gera :

I own rental house in West Palm Beach are that was successfully rented last 4 years.

Now I am exploring short term rental opportunity through Airbnb and etc. Goal is to have  chance to stay sometimes there on Christmas or Thanksgivings myself. And also I read some horror stories about problems with eviction of not paying tenants. Would, anybody , please, share his or her experience with Airbnb or VRBO. Can I make some money? My previous rent was 1800$ a month, now it is 2000$. House has a pool and located just across the bridge from Singer Island, 1 mile from good free public beach. Does it make sense to go from 1 year rent to Airbnb kind of rent?

I stayed myself with Airbnb in Italy and California, but totally new as Airbnb host.

 So the property is by the Publix and Loggerhead Marina on 45th street? Or is it farther west in Riviera Beach?

Brian, actually I am thinking to buy another house or may be two in WPB area in a year or two when I move here from Atlanta. But, likely not that close to the water, I do not want both houses be flooded in the same time. Open for suggestions. Preferences - safe area with good renters and may be some studentets for my wife -piano teacher.

Alex  AIrbnb right now is great for the south Florida area but like any thing in real estate it a risk  but I also think it will be great if you had a airbnb manager just like a property  manager . can't say im a newbie because i been learning about real estate for about 2 years ..

Having 2 week booked on air bnb is the same as a whole months rent .. and the cleaning services are moving toward the airbnb side on things. plus south Florida will always have the snow birds season (people thats running from the cold)....AS far area in palm beach i think lake worth in some part are gems for airbnb price and location wise .. i just seen a duplex going for 165k of it my need a Work but It in a great area ....  West palm beach is on it rise to be a Miami or ft ft lauderdale 

@Alex Gera Congrats on having an opportunity to explore getting more personal use out of your property! What about trying AirBnB for a few months and see how it goes and if it's not to your liking and doesn't make sense as an investment, you can go back to long term renters. 

Love that your wife is a piano teacher! I have TWO acoustic pianos in my home as it came with one (can you believe that???) and I brought one with me. And yep, I play both of them! ;-) 

Lots of great areas to buy in WPB!!! 

I would comp it on Airbnb and see what other similar places are going for, but I would think that in Palm Beach it would make sense, as long as you can handle all the logistics.

Have recently expaneded intto Air BnB using rental properties and it is looking really proomissing more then willing to share what I am learning

Originally posted by @Laraque Vilsaint :

Alex  AIrbnb right now is great for the south Florida area but like any thing in real estate it a risk  but I also think it will be great if you had a airbnb manager just like a property  manager . can't say im a newbie because i been learning about real estate for about 2 years ..

Having 2 week booked on air bnb is the same as a whole months rent .. and the cleaning services are moving toward the airbnb side on things. plus south Florida will always have the snow birds season (people thats running from the cold)....AS far area in palm beach i think lake worth in some part are gems for airbnb price and location wise .. i just seen a duplex going for 165k of it my need a Work but It in a great area ....  West palm beach is on it rise to be a Miami or ft ft lauderdale 

Out of curiosity where did you see a Duplex for $165k in a great area?

In lake Worth it was for sale by owner i believe  lake worth is a gem due to the change of scene on downtown lake worth  plus it was a 1/1 duplex 

Originally posted by @Laraque Vilsaint :

In lake Worth it was for sale by owner i believe  lake worth is a gem due to the change of scene on downtown lake worth  plus it was a 1/1 duplex 

I figured it was most likely in Lake Worth east of 95 off 6th Ave or around that area.

@Alex Gera What areas are you looking to do STR? I managed a rental in Palm Beach gardens that did extremely well. Lake Worth was quite poor and Lantana was extremely strict as they have a 30-day minimum restriction. Boca also has alot of restrictions as well.

Depending on the size of the home and location you will make well over $2000/month.

Originally posted by @Richard Ibeh :

@Alex Gera What areas are you looking to do STR? I managed a rental in Palm Beach gardens that did extremely well. Lake Worth was quite poor and Lantana was extremely strict as they have a 30-day minimum restriction. Boca also has alot of restrictions as well.

Depending on the size of the home and location you will make well over $2000/month.

Where do you find the different county rental restrictions and/or guidelines?

@Brian Garrett you'll have to call the city and speak to the code compliance department. Their websites are extremely outdated so most of them don't have the information online. Any city I am setting up a rental in I call in advance and inquire what is needed for short-term rental. I learned the hard way and got notices on my clients' doors and ended up in court quite a few times all over south florida.

Wow! There's an opportunity! Someone could maintain an ever-changing list of rules and regulations for various cities in Florida. Thanks for the tip @Richard Ibeh

What do you think it will cost to furnish it?

Originally posted by @Brian Garrett :
Originally posted by @Laraque Vilsaint:

In lake Worth it was for sale by owner i believe  lake worth is a gem due to the change of scene on downtown lake worth  plus it was a 1/1 duplex 

I figured it was most likely in Lake Worth east of 95 off 6th Ave or around that area.

 More of Greenacers by 10th and congress i do a Lot of written mail to try to find seller who ready to sell due to landlord ship ..

Originally posted by @Laraque Vilsaint :
Originally posted by @Brian Garrett:
Originally posted by @Laraque Vilsaint:

In lake Worth it was for sale by owner i believe  lake worth is a gem due to the change of scene on downtown lake worth  plus it was a 1/1 duplex 

I figured it was most likely in Lake Worth east of 95 off 6th Ave or around that area.

 More of Greenacers by 10th and congress i do a Lot of written mail to try to find seller who ready to sell due to landlord ship ..

Cool please let me know if you come across any deals that don't fit your model. I'd be happy to look at them!

Hey, I am seeing conflicting information about West Palm Beach AirBNBs when I google. Some sites and threads mention a 7-day minimum stay requirement, others make no mention of it. I know that new rules require property owners to register and collect the county’s 6% Tourism Development Tax and pay the county themselves, but I can't find anything official about the 7-day minimum stay requirement. Is this real and is there a link to a government page that states this law?

Let me bump this thread! How is the AirBNB game coming for you all? I'm thinking about jumping into my first real estate deal and the WPB area is my top choice. Any favorite towns/neighborhoods? 

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"Some sites and threads mention a 7-day minimum stay requirement, others make no mention of it."

It will be great if somebody clarify this issue. Palm Beach county website  is not easy to navigate...

I am also considering to try AirBNB  this fall.  May be we should start new Meetup club for AirBNB investors of West Palm Beach county to share everybody experience?

Alex sounds like you are in a great spot and have already received some great advise. I have been doing Airbnb in South Florida for the last 9 years with my own units and units I manage for other people. I have seen that in average I'm able to make 30/40% more then I would have made renting them longterm, having said that I do have a team behind me that takes care of a lot of the leg work. Few things to consider:

- Does your community allow STR rental and if so do they care about how long and how often you can rent it?

- How are you going to manage the turnovers, if you have just one unit you can take care of all the reservation but you will need a maintenance person on call as well as a great cleaning team for the turnovers. How clean the house is when people arrive will influence the majority of their experience

-How new are your appliances? People that come down on vacation are expecting to find newer and working appliances and you won't be able to get away with older appliances that might pass with a long term renter.

- Do you have the right personality to be a Airbnb host? I tell season landlords all the time, once you start doing airbnb you are no longer in real estate but in hospitality and quality in will get you quality out

I hope that helps, let me know if you have any questions. I'm hosting a meet up for Airbnb in Delray beach on April 6th at Gizzi Coffee, feel free to message me to find out time etc 

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