Destin STR regulations

[Kourtney Murr]

Curious to hear from Destin FL STR owners and their opinions on the new regulations on occupancy 2 per bedroom plus additional 4. There are so many vacation homes that are 4,5,6,7 bedroom homes that sleeps 20+ people and so much variation on price due to that fact; with the new occupancy law, seems the competition will be even harder since there won't be variations of sleeping arrangements and so price per night on a 4 bed/sleeps 12 would have to be very similar to all of the other 4 bed/that now can only sleep 12. Is the new law going to just create a trickle down of STR's decreasing price to stay competitive since all 4 beds will have the same occupancy and so on. Are any Destin STR owners worried or thinking about selling due to the new regulations

[Matt "Roar" Gardner]

@Jeffrey M deGraauw - Thanks for the shoutout! I hope your newest investment with @Avery Carl is going well! 

@Kourtney Murr - Overall, I'm a fan of the newer regulations in Destin. It keeps the local residential areas to the locals (and keeps them happy), and it prevents craziness like 10 people staying in a one-bedroom condo, which never goes well for the neighbors. I haven't noticed any particular price creep due to the regulations. My larger AirBnB is a 5-bedroom in Destin that we bought for ~$565K, and we'll gross around $75K this year (netting between $15-20K). There is a STR Task Force that is undermanned, but doing what they can to help people toe the line. These regulations aren't anything crazy. If you want to avoid the regulations, you can simply hop over to Miramar Beach, 30A, or over to Fort Walton Beach (I also have a STR condo on Okaloosa Island).