Pensacola Vacation Rentals

[Amber Collins]

Hello BP,

My mother and I want to do a vacation rental property in Pensacola FL, I've figured out I want "tiny" houses on a waterfront lot (inland on canals). My mom is dead set on Pensacola because its just far away enough from her mother in law. I will own the property and she will be the live in property manager full time. I don't know what I don't know- what should I be considering?

Obviously its got to be the right lot- there is a half commercial, half residential lot on a canal I am considering. But I have never done new construction- with the tiny houses I just need a foundation poured with plumbing and electric. The houses are basically prefab.

What should I budget for the lot preparation?

If .4 acres of 1.6 is commercial, how hard is it to make 1 acre commercial and .6 acres residential?

I have budgeted for 65% occupancy- so if not 1 single guest comes for 4 months, we will be just fine. What are the slow months? Hurricane season I am assuming but Pensacola is great for nature lovers, people wanting to see the Blue Angels etc. all year round.

We will get all our lodging permits- how hard is it to do?

What are cheap amenities that have upped the value of your vacation rental?

Any thing else?

Thanks!

[William Allen]

Plenty of Pensacola experts on here! 

Winter months will be slow for a vacation rental. Most of them are by the beach or in gulf breeze, downtown is starting to blow up with them too. What area are you considering for this? 

Plenty to do in the area, beaches, transient military families, and the downtown area is seeing a lot of construction and growth now.