Short term rental marketplace?

Question

Hi - I’m looking for a markeplace that showcases short term rental properties for sale. Does such a marketplace exist?

Tyler Work · Answer

hey @Dave Kirby in vacation areas like Destin, FL, every property is a short term rental so just find a good realtor and tell them you want a property that will do well on the vacation rental market. These properties will be listed on the MLS. To my knowledge there is no MLS type listing service that only lists short term rental properties.

Jon Pazevic · Answer

Dave: we have 5 rental homes in Miramar Beach and 30A, and started 30 years ago with condos in Destin. You can widen your search all the way from Gulf Shores Alabama, to Panama City Beach, FL, and as Caleb said, start with condos, perhaps in the 150 range to 5 million+ water front mansions. The sweet spot to start would be across the street from the water condos (less expensive but rent well) WITH A DEDICATED BEACH ACCESS, or a home 3-4 homes back from the water, but not more than 3 blocks from the water(walking/golf-cart) distance, and look for 3 or 4 bedrooms homes. The larger ones are more difficult to rent. A good realtor like Caleb should be able to give you rental projections, or get them from the previous owner as part of your due diligence to see if the numbers work for you.

Mike Wesling · Answer

@Dave Kirby yes check out www.Vrolio.com

Caleb Richardson · Answer

@Dave Kirby Tyler and Andy both make great points about Destin. Short-Term Vacation Rentals here are a big business. There are options in almost every price range, from Condos around 200k all the way up to massive “mini hotels” with 9+ bedrooms in the multi-million category. Cap rate can vary, but it takes patience and diligence to find the right property here.

Ross Kerne · Answer

I have two beach front condos in Alabama. A 1B1B in Orange Beach and a 3B3B in Gulf Shores. The ReMax search engine linked below is the best resource I have found for short term rental listing. Once you figure out the site, you can drill down exactly what you want from Alabama to Panama City. What you find out where and what you want, get in touch with a solid local property manager and they can feed you the rental income numbers you are interested in.https://www.condoinvestment.com/orange-beach-al-gulf-front-condos.php

Caleb Richardson · Answer

@Dave Kirby To answer your marketplace question more specifically, I do not know of such a marketplace. I could put together a list of every vacation rental property available in ECARs MLS (emerald coast association of realtors) but that would be an incredibly extensive list (1000+?) so it depends on what exactly you’re trying to do.

Andy Johnson · Answer

@Dave Kirby Hi Dave, I’m not sure of any specific vacation rental marketplace, but I can tell you that the location of the property down here in Destin will definitely give you a clue. For the most part, you can find properties like this on 30a in Walton County and on Scenic Highway 98 (often called “Old 98”) in Destin and Miramar Beach. Additionally, condo type properties around here would probably fall into that category as well. There are several of these properties on Old 98, although I don’t know too many of the details. The single family home neighborhoods in Destin are hit or miss, as many have HOAs with rules against short term rentals.

Brian Ploszay · Answer

Landlords usually don't want short term tenants. Short term rentals do exist, but more for special use - like student housing, corporate housing (lucrative) and some luxury housing. Also vacation rentals.

Tim Bergstrom · Answer

Hey @Dave Kirby, all these guys seem to have good info in the Florida and Gulf Shores areas (which seems great!). Like some of the other guy's responses I don't know of a marketplace specifically for STRs, but I do know of a lot of opportunities and have a great and growing network of resources for STRs here in Nashville. If you'd like to chat at all about that let me know!

Andy Johnson · Answer

@Dave Kirby Hi Dave, I just had an idea that may be helpful. I’ve had some friends down here who have done the house hacking thing on 30a with houses that were designed to be vacation rentals. It’s been a few years, but when they were actively renting out the separately accessible floors, they were using VRBO. I think that looking at VRBO or other similar resources would help you get a more specific idea of where the types of properties you want are located. Knowing this, Caleb might be able to give you a hundred listings rather than thousands.