5 Reasons To Buy A Mid Term Rental In St. Petersburg Florida in 2024

As a local realtor and investor, I am always looking for ways to find cash-flowing assets in markets with high potential for appreciation. Mid-term rentals are 30-90 day stays giving you higher cash flow than long-term without the constant turnover and additional work required to successfully operate a short-term rental.

Below are five reasons to consider investing in a mid-term rental in St. Petersburg Florida. 

1 - Additional Dwelling Units - St. Petersburg recently adopted rules that make it much easier to add additional dwelling units under 800 square feet. In a world with high rates and hard-to-find cash flow, you can find an affordable home with a detached two-car garage to create cash flow in St. Petersburg’s appreciating market. Ideally, you want to find a garage that has electricity and plumbing to make it a fast and affordable conversion.

Link To The New ADU Rules -  https://www.stpete.org/residents/housing/homeowners/accessory_dwelling_units.php

2 - Hospitals - There are several hospitals in the St. Petersburg area creating a strong market for traveling health care Professionals. Health care Professionals make some of the best tenants as they are busy with work and most hospitals require background checks and drug screenings. Check out furnishedfinder.com for additional information on the pricing and demand for the traveling health care Professional market.

3 - The Beach - While many midterm markets focus solely on traveling Professionals, St. Petersburg offers the opportunity to book at high rates from March to July for snowbirds and families looking to enjoy beautiful beaches within ten minutes of downtown St. Petersburg.

4 - Rental Regulations - St. Petersburg does not allow rentals of less than 30 days except for three times a year. This regulation allows owners to rent midterm while still being able to fill gaps 3 times a year when you get a booking that breaks up your calendar with a gap smaller than 30 days. Please note you will still see short-term rentals with investors that are breaking the rules, running bed and breakfasts, or operating in Unincorporated parts of St. Petersburg.

5 - City Life In A Warm Climate - I am currently helping an Airbnb employee invest in St. Petersburg and he noted that New York City is still one of the most booked places on Airbnb despite new 30-day minimum stay requirements. As St. Petersburg continues to grow it will be a top destination for young professionals looking to enjoy a month of vibrant city life in a warm climate with St. Petersburg’s growing restaurants, museums, and music venues.

If you are interested in the Saint Petersburg Mid-Term Rental Market or have any questions on the above please reach out via email at [email protected]