Florida Keys STR

[Kyle Wise]

Hi,

I'm looking to add an STR to my portfolio in the Florida Keys but was interested to see if anyone has feedback on what the insurance premiums look like and if it even makes sense with the huge rate hikes.

FYI- I'm only considering houses on the water, not any condos. 

[Bert P.]

Hi Kyle,

I run a vacation rental management company in the middle Florida Keys called KeysCations. Marathon and Key Colony Beach are going to be the best areas to search as those are the only two towns in the keys that allow for anything less than monthly rentals (7 night minimum). A tip to keep insurance cost down will be to look at homes that are on stilts/elevated. This will cut your flood insurance way down. Reach out to Grimilda Betancourt with Roth Insurance, she is local and one of the best. If you need any guidance with finding the right rental feel free to reach out to me as well. I’d be happy to run some rental evaluations for you.

Best Wishes,

Bert Perez

Owner/Operator

KeysCations