What areas are better to invest in STR - vacation rental

Question

Hello everyone,

Looking to start investing in STR - vacation rental out state in Florida. Just want to get a little more knowledge on the STR in Cape Coral, any STR - regulations that are investor friendly?

What areas in Cale coral are good to invest in STR??

Sumit B. · Answer

@Stetson Miller

Thank you everyone for your feedback!!!

Huong T Nguyen · Answer

Hi Stetson:

I have just sent you a message. Thanks!

Stetson Miller · Answer

Hi @Huong T Nguyen,

I can send you a few different names, please feel free to send me a message or an email to the address below and I would be happy to provide that,

Thanks!

Huong T Nguyen · Answer

Hi Stetson, we are now considering building a new home. could you please recommend a spot builder in Cape Coral? Thank you so much.

Huong T Nguyen · Answer

Hi Stetson: thank you for the information. We are coming down there in 2 days and I hope to see something I like and can afford.

Stetson Miller · Answer

Hi @Huong T Nguyen,

The summaries above are still up to date with current information. Although the Burnt Store areas are seeing somewhat sustainable demand for owner-occupied properties, we're currently still not seeing enough support for activities that would draw tourism into that area. For example, South Cape has larger tourist destinations such as Cape Harbour, the downtown area, Yacht Club, Marina Village, etc, where there's really nothing comparable to any of those districts in the Burnt Store area. There are multiple planned developments currently in the works that would expand the desire for vacation homes, but as of now, we're still waiting for that to occur

Stetson Miller · Answer

@Sumit B. Sorry I missed the tag in this post

1. Yes, technically that is correct. However, to my knowledge, as of now that is not something that the city is actively enforcing against. Should there be any issues with your property though, that is one of the first things you could expect

2. Due to the nature of the STR property criteria in Cape Coral, it's very rare that a STR could be converted to a successful LTR. Mid term rentals however are another viable strategy for the area should further restrictions come into play. With that being said, that is far from our expectation for the future

3. Owners are able to list their personal contact information, but I believe there is a stipulation that the contact must be local to the property

4. Personally, I haven't seen any change in interest since the registration ordinance was implemented. This is actually something I see as a benefit because it shows that the city is interested in facilitating the growth of that industry, and it's much less likely now that they would do a 180 and try to limit usage

January Johnson · Answer

If you're interested in a WAYYYYY more STR-friendly market, you should check out the Emerald Coast.  White sands, blue-green water, loads of tourists.  Let me know if you have STR questions for this area!

Sara Levy-Lambert · Answer

The city of Cape Coral, Florida has regulations regarding short-term rentals. According to [2], private homes cannot be rented for less than a week. In addition, the City of Cape Coral has updated codes and ordinances related to short-term rentals that are now available in a searchable database provided by Municode Corporation (3).

Short-term rental limitations have been an issue in coastal communities in Florida, including Cape Coral, where investors can buy property and rent it out for short periods at high rents. According to 5, the city has battled efforts to limit local regulation of short-term rentals.

The state of Florida recently approved Lee County's minimum standards for vacation rentals, which means that reservations can resume in Cape Coral. According to 4, this means that rentals in Cape Coral can now resume.

Lyndsay Zwirlein · Answer

I would recommend making a bunch of phone calls. Call Cape Coral zoning directly to get their rules and restrictions. Also in terms of identifying good areas, I'd speak with several realtors and property management companies to hear their opinions on what sells. You could even try speaking with other property owners about their experiences -- there is a facebook group for just STR operators in Cape Coral and I'm sure you could find someone in there willing to share their experiences.

What areas are better to invest in STR - vacation rental

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