Investor · Bradenton, FL · Member since 2017 · 17 posts · 6 votes
I'm seeing properties come on the MLS from Long Boat Key, Anna Maria Island, Venice Island, etc. Are investors ditching these properties due to low occupancy? I've run numbers on a few of them and annual renting is out of the question. They only work as vacation rentals. But if people aren't going on vacation, seems extremely risky to pick one up. I'd like to hear if anyone is in the trenches in these areas and what they're experiencing.
Investor · Greer, SC · Member since 2014 · 13k+ posts · 17k+ votes
6y
Even if people are ditching the properties due to a short term problem, this will also pass and STR will be allowed again if banned currently. I think people are still out doing and going unless officially shut down as some places in Florida have been.
Having multiple strategies is also important, if the margins are so thin that you can't also pay the bills as a long term rental also then I would question if this is a good investment. Only you can make this choice.
Investor · Moseley, VA · Member since 2015 · 145 posts · 60 votes
6y
each village has been cracking down on STRS less than a week. With the new parking restrictions on AMI now.. there’s always something to complain about for the residents. My cousin has a winter home on AMI and she’s told me first hand that they are pushing to slow down the rentals. Can’t speak for the other islands but from what I see AMI is a risky move if your depending solely on AB&B
Plantation, FL · Member since 2009 · 329 posts · 119 votes
6y
The SE coast has been taking a hit for a month now. Dade has shut down STR's and I expect Broward to do so today or tomorrow. This second wave has put Florida at the epicenter of the pandemic! Pretty sad.