Clearwater/Gulf Coast - Short Term Rentals

[Leo Mich]

Hi Everyone! Thinking of dipping my toes in short term rentals. Looking at Clearwater beach and down the Gulf Coast. Any location suggestions with decent cap rates? Open to other Florida beach locations too. From what I'm seeing, the economics for most don't make sense given where prices are now, but hopefully someone can prove me wrong. Thanks!!

[Jed Haslam-Walker]

Hi @Kendra Justice

I’m a Realtor in Sarasota who works with investors in this area and FL I’m general. To answer your query about STRs in Sarasota and Naples - they are allowed in some areas and not in others. 
Property is protected by different types of Lease Restrictions according to zoning requirements - each subdivision is subject to both zoning requirements and developer deed restrictions - both of these can affect how long you can rent / lease a property for .

There are some areas that have no restrictions at all and others that only permit owner occupancy and every variation in between really - you would check each property for their specific lease restrictions or get your Realtor to filter for it. I have heard horror stories of investors closing on properties only to discover they can’t rent them!