Short term rentals on Holiday, Florida

[Emerson Pariona]

Hi, I just closed a property in Holiday, Florida and wanted to know how are short term rentals around the area? Is it more profitable than renting it out as a lease and also are there any regulations that could cause me problems? The property is a 2/1 house 815 sq.ft. Any advice would be great, thank you!

[Katie Miller]

Hi @Emerson Pariona! What did you originally purchase this property for? A STR or a LTR? Is there an HOA associated with the property? What are the neighbors like? What attractions are in this town? Is the beach nearby? Are airports close? All of these questions (and more!) can help you determine what you should do with this property if you're changing your mind about what you originally purchased it for. I would also suggest you check out our partner calculator for STRs (https://www.biggerpockets.com/...) to determine if this location is useful and what nightly rate you might receive through short-term renting.

[Josh Green]

@Emerson Pariona

Go to airdna and use the "rentalyzer tab". Put your subject property address in there and you'll get a good estimate of the occupancy rate there. Then, go on Airbnb and look at comp properties and get an average daily rate. Multiply that by your occupancy rate and you'll get your monthly revenue. More than likely if it's a good STR area, you'll see around or greater than 3x revenue over an LTR