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Olga Triola
  • North Port, FL
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30-day minimum in Siesta Key - problem?

Olga Triola
  • North Port, FL
Posted Jan 18 2022, 12:56

I'm considering a condo purchase in Siesta Key, FL, which is a high-demand area for vacationers, snow birds as well as relocating or travelling professionals.  This particular hoa is 30-day minimum, and only 4 times per year.  For some of these groups, this is not much of a problem.  There are also some benefits to less turnover.  But I'm wondering if I am limiting my renter pool too much, or if there is plenty of demand to occupy the property?  I can't rely on comparable data because there are other properties nearby with less restrictive rules (as short as 7-day, unlimited) so the comps may not actually be comps at all (AirDNA projects $75k annual revenue - I only need about $50k to make the deal make sense).  Does anyone have experience with this that can weigh in?  The price is reasonable given today's market.  Location and amenities are excellent.  Just trying to gather more input before I put any money down. Thank you!

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