Miami Area Vacation Rental Management

[Kyle Varner]

I'm interested in buying a vacation rental in the Miami area. Can anybody recommend a vacation rental management company who could talk to me about the market for vacation rentals, areas to buy in, reasonable expectations about ROI etc? I'd be willing to either pay a consulting fee or make an agreement to use them to manage my property when I make a purchase. I think going directly to someone who manages vacation rentals will give me the best knowledge about what to expect from this investment.

[Yasmine Bisumber]

Hi Kyle, I thought I'd hop on here to offer some guidance. I am not an official vacation rental manager but I am an agent who helps investors purchase vacation rentals in and around Miami. I see the market and where iit is headed. 

You can expect high returns, the vacation market is still very much alive in South Florida, if you are open to it you can find slight discounts if you buy outside of Miami-Dade proper. Tray to purchase a SFH or MFH vs. a Condo. Lots of condos have changed their rules and do not allow daily rentals making it harder for investors like yourself to accomplish their goals. There are still a FEW so make sure to ask before putting in an offer.

Pretty much anywhere along the coast will garner the best returns. People staycation a lot here so you will get guest both from out of town and those who live just a few miles away.  The last vacation rental I sold was a duplex in Pompano Beach and my buyer decided he was going to move here and stay in one... I don't blame him. It was a 3 minute walk to the beach. The list price was 589K but I helped tie the deal up for 554K (in Miami he would have paid closer to 800K for the same property). He can expect anywhere from $175 - $250 per night for the unit he will Air- BnB.