AIR BNB PROPERTIES IN THE UPCOMING TURBULENT ECONOMY

[Jimmy Bell]

this is my 1st post but here it goes. I looking for advice on weather it is a good idea to purchase and investment air bnb property in key west. Short term rental is a great market there but I'm concerned that economic downturn could change that. I cant find how the 2008 crash effected the short term rental market. Looking for some advice.

Thanking in advanced

[Dawn McComish]

@Jimmy Bell I am a realtor here in key west. The number one thing that most people are unaware of is that short term rentals are rare here in key west. You need a special transient license that must come with the property. There are none left so you cannot go buy one. A property with a transient license is even more expensive than a regular home. All other properties in key west can be rented for a minimum of 30 days ( you can only rent them monthly ). The only areas that allow short term rental ( weekly ) are Marathon and Key colony beach. There are some really nice properties - but at current prices- ROI is not easy to realize.