Florida Short Term Rentals for Sale 2023

2. Investing in Short Term Rentals Give You a Greater Earning Potential

When it comes to rental properties, you have two options to choose from: traditional or long term rentals and vacation or short term rentals. Depending on your location, one might be more financially rewarding than the other. In this case, Florida offers pretty good rental rates for both rental strategies. 

On a state level, the average traditional rental income in Florida is $2,556 on a 2.70% cash on cash return. On the other hand, it gives vacation rental owners a slightly lower cash on cash return of 2.35% but a slightly higher short term rental income of $2,961. Both sets of stats were taken from Mashvisor’s September 2022 location report.

The rental income and cash on cash return for September are lower compared to August 2022’s numbers. Mashvisor’s August 2022 report shows that traditional rentals make $2,685 with a cash on cash return of 2.28%. Vacation rental income, on the other hand, was higher at $3,195 on a 2.16% cash on cash return. 

The slight decrease in September can be attributed to the overall market cooling down. Regardless, investing in short term rentals in Florida is always a good thing thanks to its strong tourism industry.

3. Short Term Rental Properties Give You Greater Flexibility

One other great benefit of investing in vacation rental properties is that it gives you the flexibility that a traditional rental can’t. You determine when your property can be rented in a month. You can get your property listed on Airbnb (and other similar short term rental platforms) according to your personal calendar. 

If you want to maximize your rental income, you can choose to rent it out full-time. On the other hand, you also have the option to use your property to host guests or crash in on your vacation if you’re an out-of-town investor. 

4. People Are Excited to Travel After the Pandemic

After two years of sheltering in place, people are now clamoring for some solid vacation time. When economies reopened, folks started making travel plans and revisited pre-pandemic planned trips. Even workers who normally couldn’t go on trips now choose to travel, with remote work arrangements already set in place.

Nowadays, people are booking longer stays in Airbnb rentals. Find out more about longer stays on Airbnb here.

5. It Gives You a Good Level of Protection Against Inflation

Lastly, investing in short term rentals gives you a hedge against inflation and recession. The same goes for real estate investing, in general. 

Since real estate has a very low to zero correlation with the stock market, investing in the former doesn’t give you the same level of volatility. Generally, real estate properties appreciate over time. It alone already gives you a win. You can buy real estate for sale now and hold on to it. You can then decide to sell it when it has already appreciated enough for you to get your ROI and earn a profit.

If you choose to go with a rental strategy, you can offset inflation by raising your rates accordingly yet reasonably. It will allow you to take care of the property and provide for your needs simultaneously. 

Related: Florida Housing Market Predictions: What Will Happen in 2023?

4 Tips on How to Find Profitable Short Term Rentals for Sale in Florida

If you’re determined to get into the short term rental market, here are some practical tips to improve your search for the right investment property: 

Tip #1: Due Diligence Should Never Be Taken for Granted

Since real estate investing is technically a numbers game, you should do all you can to ensure your chances of success stay high. One of the best ways to do it is to perform extensive due diligence. Sadly, a lot of investors tend to overlook this step and base their decisions on hype. 

If you want your investment to give you a good ROI and enable you to take some money to the bank, you need to do your homework. The internet is chock full of great websites you can use for your market research and analysis. One such website is Mashvisor. 

Mashvisor is a real estate platform that helps real estate investors like you find the most promising properties in the most profitable neighborhoods. It gives users access to a massive database that contains all the necessary information and data you will need to create an in-depth investment property analysis. 

To start looking for and analyzing short term rentals for sale in Florida or in another city and neighborhood of choice, click here.

Tip #2: Get the Right Real Estate Investing Tool

Real estate investing is made a lot more efficient if you have the right tools with you. A lot of investors rely on Excel spreadsheets for their rental property analysis. Others still use a ledger or accounting notebook. We recommend going digital with Mashvisor. 

As a real estate investing tool, Mashvisor comes with several handy features that make finding and analyzing real estate a lot easier and more accurate. You can easily sift through prospective properties using its real estate heatmap. As far as calculations go, its investment property calculator is considered one of the best in the market today. 

Mashvisor’s real estate heatmap allows investors to search for potentially profitable properties in their preferred city or neighborhood.

Other real estate websites offer some of Mashvisor’s tools but not all. Mashvisor is your one-stop shop for all your real estate investing needs. 

To learn more about how Mashvisor can help you find profitable investment properties, schedule a demo.

Tip #3: Build a Network of Reputable Florida Real Estate Professionals

Since Florida is one of the country’s hottest markets, you can bet that there are tons of real estate professionals you can connect with. You simply need to go out and meet them. 

Attend events and open houses. Contact real estate agents and brokers online and set appointments. Reach out to other investors who own Florida real estate to seek advice. It doesn’t always need to be a formal setting. You can invite them to parties or have coffee with them. The important thing is to go out there and meet people to grow your network. 

Tip #4: Always Be on the Lookout for Good Deals

Lastly, keep your eyes open for golden opportunities, whether it’s a possible investment opportunity or a networking opportunity. Actively look for potential investment properties or mortgage deals. Pay attention to the names of professionals and firms whose services you might need eventually. It pays to be vigilant in real estate investing, especially in Florida.

Related: How to Find Profitable Rental Investment Properties for Sale

Top 10 Cities in Florida for Short Term Rentals

Success in real estate investing boils down to your location. Not all of them are created equally. Each neighborhood comes with its own advantages and disadvantages. As an investor, you need to be aware of what a specific market can provide in terms of investment returns. 

We took a look at Mashvisor’s September 2022 data for Florida and came up with this list of cities best for Airbnb investing. Each location was selected based on the following criteria: 

• At least a hundred active listings
• A median property price of less than $1,000,000
• An average rental income of at least $2,000
• Cash on cash return of 2.00% and above
• Airbnb occupancy rate that doesn’t go below 50%

Based on the above criteria, we ranked the following locations from the highest cash on cash return to the lowest. Here are the best cities to look for short term rentals for sale in Florida today: