Best ROI Vacation Rental Areas in Florida?

[Terri Donovan]

Hi Everyone, 

I am hoping to buy a vacation rental somewhere in coastal Florida in the next 6 or 8 months. I currently own two long term rentals, so I am not a first time investor/landlord, but I am new to the vacation rental business. I live in the Pacific Northwest, so we would use the unit  6 to 8 weeks every winter (flexible--anytime between January and mid April)

I am open to most areas. but I am having trouble figuring out where to pinpoint my search. I'd want to be within 2 or 3 blocks of a beach, in a suburb or a small town, and either SFH or small condo property is fine. Any suggestions? Where can I find data that compares prices to rental income throughout Florida? Are there any consultants that can help me compare average ROI in markets throughout Florida?

[Daniel Paloscio]

Be careful w/ Clearwater & St. Pete, both have laws governing rental terms and short term rentals (less than 30 days) are illegal in both municipalities. Additionally, they both are larger cities inside of Pinellas and have in-house council and not only pursue legal action against violators but will stick around and fight. Some of the smaller municipalities hire outside council and will settle more often because litigation gets expensive and is not in their budget. People typically get away with their new listings until neighbors start complaining but once you are on the city's radar you either hire an attorney (and in most cases lose) or you shut down. Just make sure you do the research. I would avoid condos as well because HOA's are usually against short term rentals and if you find an HOA that allows them you risk the rules changing in the future. Before you buy, check out the city's ordinance code. Most are posted online. If you can't find it online you can call the municipality directly and ask.