Short-term Rental Restrictions
Pensacola Beach offers an outstanding value proposition for homeowners and investors wishing to engage in short-term rentals.
According to real estate brokerage professionals, beachfront property values in Pensacola Beach remain mispriced compared to similar beach communities in the southeastern United States. Short-term rental rates, however, consistently trade at or above the regional average, creating arbitrage opportunities for savvy investors and homeowners, says the Pensacola Association Of Realtors.
Additionally, rising interest rates are increasing rental prices in Pensacola Beach and nationally. The correlation between rising interest spikes and higher real estate rental prices is a well-established economic phenomenon likely to persist near term as the Federal Reserve continues its efforts to tame inflation.
Pensacola Beach is well-positioned for those seeking to acquire properties to engage in short-term lease transactions because Florida law protects property owners better than certain other jurisdictions. Florida state law preempts local municipalities and county governments from imposing outright prohibitions on property owners engaging in short-term rental transactions through sites such as Airbnb.
However, there are specific rules and regulations at the Florida State-level and municipal and county levels with which homeowners must comply. Individually none of these compliance issues are particularly onerous. Still, many requirements are not intuitive, so the help of a real estate brokerage professional is essential as you navigate this terrain.
For those who own condominiums or real estate within gated communities governed by homeowners associations, there are likely additional compliance issues and often the need for a certain level of ongoing marketing anonymity. HOA issues, if not addressed properly at the outset, can be ruinous to a steady stream of passive real estate income.
Positive reviews from guests are mission-critical to your real estate rental success. Even one marginal review may force you to rent at a significantly lower rate or eliminate you from the competition altogether. This makes and money well spent to pay a reliable real estate professional with experience to manage your property and ensure that when guests arrive, the place has been cleaned and maintenance issues have been resolved, and to ensure that everything in your listing description is accurate.
Real estate brokerage services are more than the multiple listing service.