Winter Park, FL Airbnb or VRBO...What are my options?

Question

So Im currently under contract for a property in Winter Park, Florida that the seller was using as Airbnb or VRBO. A number of their past reservations were 30 days but not all. I just found out that the town has been cracking down on any Airbnb's that are less then 30 days. Curious on if anyone has any experience in this area? Im newer and not sure about the market. Are there enough rentals for 30 day minimums?  If so where do you advertise for those.

It is zoned R-3 and on double lot. If I build, how many apartments can I build ? What are the chances that the town will change the Airbnb laws any time soon? Can I put in to change the zoning? If its zoned commercial (there are commercial zoned across the street) what can I do with it.

The property can't cover itself on long term rents as is. And it already has a code violation as an Airbnb that came up in Title search.

Yikes! I close next week.

Rachel N. · Answer

I live in the Orlando/Winter Park area and also agree with the above poster that said to be careful. Winter Park runs as its own very small municipality and definitely checks up on these things. There are some Winter Park addresses that are zip code 32792 but are unincorporated Orange County, and there I don't think they follow these things as much, but if the zip code is 32789 definitely it wouldn't be a good idea to try to rent it out short term. However, it could be great for long-term rentals, especially because we have a college here, rents are high and real estate is pricey! I have a great property manager I use for my local rentals, PM me if you'd like a recommendation and aren't local.

Rachelle Bisaillon · Answer

Thank You Ladies!

Mya Toohey · Answer

I have an AirBNB in Indian Rocks Beach and it's great!  I purchased a boat and use a live aboard marina.  Total investment 55,000 and it brings in 2,000-4,000 a month.  Just an idea.

Patricia Steiner · Answer

In Florida, the hotel industry rules the day. A court recently upheld municipalities' rights to restrict vrbo through zoning.  A commercial designated zoning won't help; you have to be zoned specifically for transient housing (like a hotel/motel) and be licensed as such with the municipality and state. If you are caught running a vrbo, it will be shut down immediately; guests will told to leave and citations will be issued.  It already has a code violation on record so my recommendation is:  don't close.  Look for another opportunity.  Tampa tolerates vrbo because of their agreement on tax collection with AirBnb, unless otherwise restricted by HOA or other such PD management; other cities have areas where it's allowed (Indian Rocks Beach, sections of barrier reef cities).  You can also do well in communities that allow "short time rentals" meaning 3 months that match up with the length that snowbirds stay here to avoid winter elsewhere.  Again, don't close...walk while you have options.