Rental Arbitrage in Melbourne/Central Florida

[Celeste J Small]

Hello! 

My name is Celeste and I am trying to become a real-estate investor. I am trying to find a rental property that I can rent out using Airbnb. I am thinking either apartments or even houses/townhouses that an owner would not mind leasing to me and I can list it on Airbnb or any other rental platform. I want to do this so I can gain enough income to start buying properties for myself. If anyone knows of how I can get started or if they can point me in the direction of anyone that has property they would want to lease out to me that would be amazing! I know the Brevard County area is growing because of the Space program and I would love to help someone gain some financial income from this! 

[Kerry Baird]

@Celeste J Small, I have two short term rentals in Brevard.  The area is very hit-and-miss as to where short term rentals are actually allowed.  In Florida, each municipality addresses whether they are allowed or not. 

The State of Florida has been working on new regulations addressing short term rentals, but for now how it works is this: if a municipality denied short term rentals and had this "on the books" before 2011, they still can deny short term rentals.  If they did not have a regulation in writing prior to that time, the State allows them.  Except, of course, when they don't.  Unincorporated areas of the county have different rules. 

I went to each of the municipality web pages, and looked for any mention of allowing or dis-allowing short term rentals, and then went to those that do allow them, and that were in close proximity to my house, and started looking for houses to buy.  I had to call a few of the Town Halls to confirm.

You may see some on AirBnb or VRBO even though a municipality dis-allows them. Even if they are dis-allowed in an area, such as Satellite Beach, they are allowed East of A1A in Satellite Beach.  And if there is a house with a mother-in-law suite or a plex unit, and the owner occupies the property, it is allowed. 

The mayor of my own municipality is on the NextDoor app, and he posts regularly that he will shut down any that he sees.  Indialantic is a hard No.  Indian Harbour Beach is a Yes.  So it takes some work to figure out the puzzle.