Short-term or vacation rentals have always been popular throughout South Florida. This popularity in vacation rentals has exploded in recent years with more Americans being able to work remotely from anywhere. With this said, many of these remote workers end up deciding to work from various locations such as South Florida for several weeks or even several months out of the year. For some, this is a great opportunity to test out a new market before deciding to buy a property.
Top Spots for host income
While there are pros and cons for short-term rentals, there is no doubt that the income potential can far exceed that of long-term (annual) rentals. Recently, AirBnB shared a report for its top destinations along with its top earning destination cities. The top 5 cities throughout the nation for top earning AirBnB hosts were as follows:
- #1. La Quinta, CA
- #2. Delray Beach, FL
- #3. Marco Island, FL
- #4. Palm Springs, CA
- #5. Indio, CA
Interestingly, one in five guests reported using Airbnb to work remotely while traveling in 2021. This trend has certainly continued into Q1 2022 as well.
Although vacation rentals can require much more work due to the constant turnover which requires additional items such as changing of the locks, cleanings, and other maintenance issues, the return on investment can be quite substantial. With this said, there might not be a better market than South Florida for investing in vacation rentals. With more and more Americans opting to work remotely, we have seen the demand for vacation rentals in the South Florida market skyrocket. Are you thinking about investing in a vacation rental? We have assisted many of our clients build their real estate investment portfolios and can do the same for you. Contact Natasha at Live South Florida Realty, Inc. today! Don’t forget to download our free Florida Home Search App to have the power of the MLS right on your mobile device too!