Rental Income Potential for Properties for Sale in Pinellas County, Florida

Author: brian@gow8less.com

Pinellas County AirBnB Income & Occupancy rates

Posted on by brian@gow8less.com

Curious about how AirBnB Rental Properties are doing in Pinellas County?  While other areas across the country may be feeling a downturn in their bookings, Pinellas County AirBnB rentals are still going strong.  We’ve compiled the average Pinellas County AirBnB income rates and occupancy rates for several cities in Pinellas County, including all the beach cities.  These income and occupancy numbers are based on the actual previous 12 months bookings of short term rentals in the Pinellas County area.  

Area                                                                         Occupancy Rate                      Average Daily Rate

Belleair Beach                                                                     80%                                                  $290

Clearwater                                                                            71%                                                  $174

Clearwater Beach                                                                77%                                                  $265

Dunedin                                                                                77%                                                  $186

Gulfport                                                                                76%                                                  $179

Indian Rocks Beach                                                           80%                                                  $283

Largo                                                                                     67%                                                  $229

Madeira/Redington Beaches                                           80%                                                  $230

Oldsmar                                                                                73%                                                  $173

Palm Harbor                                                                        70%                                                  $225

Pinellas Park                                                                        59%                                                   $175 

Safety Harbor                                                                      70%                                                   $202

Seminole                                                                              67%                                                   $273

St Petersburg                                                                       77%                                                   $212

St Pete Beach/TI                                                                 77%                                                  $244

Tarpon Springs                                                                   70%                                                   $196

* Pinellas County AirBnB Income and Occupancy data was compiled from various short term rental sources including Airbnb and VRBO bookings.

To find an estimated occupancy rate for any home on the market, go to our Detailed Home Search Page OR get an estimated occupancy for your home in Pinellas County using our Rental Income Potential Calculator

 

Understanding Taxes on Short Term Rentals in Pinellas

Posted on by brian@gow8less.com

Are you considering renting out your property as a short term rental on platforms like Airbnb or VRBO in Pinellas County, Florida? It’s important to understand the taxes and fees associated with this type of rental. In this blog post, we will discuss the main taxes and fees you need to be aware of when operating short-term rentals in Pinellas County.

Tourist Development Tax:  One of the key taxes applicable to short-term rentals in Pinellas County is the Tourist Development Tax. This tax amounts to 6% of the total rental amount and is collected by either the property owner or the rental platform used, such as Airbnb or VRBO. To learn more about the Tourist Development Tax, you can visit the Pinellas County Tax Collector’s website at  https://www.pinellastaxcollector.gov/property-tax/tourist-development-taxes/

Sales Tax:  In addition to the Tourist Development Tax, short-term rentals in Pinellas County are also subject to sales tax. The current sales tax rate in Pinellas County is 7%. Property owners, rental platforms, or property managers are responsible for collecting and remitting the sales tax on the rental income.

Business Tax Receipt:  As a property owner who rents out your property on a short-term basis in Pinellas County, you are required to obtain a Business Tax Receipt (formerly known as an occupational license) from the local government. The cost of the receipt may vary depending on the city and the type of rental operation you have. You can find more information about obtaining a Business Tax Receipt on the Pinellas County government website at  https://pinellas.gov/occupational-licenses/

It’s essential to stay informed about any changes or updates to the regulations for taxes on short term rentals in Pinellas County. We recommend checking with the local government or consulting a tax professional to ensure compliance with the latest requirements.

If you’re curious about where short-term rentals are allowed in Pinellas County, we have compiled a summary guide of the rules for each city. You can find this guide at https://cashpad.w8less.work/local-short-term-rental-rules/

If you’re interested in purchasing a property specifically for short-term rental purposes, our website offers a comprehensive search page where you can explore homes for sale. Each listing includes income estimates to help you make an informed investment decision. Visit our  Search Page or Contact Us directly for personalized assistance.

Happy hosting and investing!

Helpful advice for renting your home Long Term

Posted on by brian@gow8less.com

Renting your home can be a rewarding experience. Here are some tips to help you make the most of it:

  1. Decide on a fair market rental price.  You can see the Rental Income Potential for any home in Pinellas County at Rental Income Potential Calculator
  2. Show off your property in the best possible way! Make sure your rental home is clean, tidy, and staged to impress. Showcase its best features and take high-quality photos to attract potential tenants. You can list your property on popular rental platforms like Zillow (insert link: www.zillow.com), Trulia (insert link: www.trulia.com), or Craigslist (insert link: www.craigslist.org) to reach a wide audience.
  3. Consider hiring a property manager. A property manager can help with advertising, tenant screening, rent collection, maintenance, and more. They’ll take the stress off your shoulders and ensure your property is well-managed. A great property management companies in Pinellas County is Suncoast Property Management (insert link: https://scpms.managebuilding.com/Resident/public/home).
  4. Tenant screening is crucial to find reliable and responsible renters. Your property manager can assist with this process by conducting background checks, credit checks, and contacting references. Alternatively, you can use online tenant screening services like RentPrep (insert link: www.rentprep.com) or TransUnion SmartMove (insert link: www.mysmartmove.com) to screen tenants yourself.
  5. Keep up with maintenance. Maintaining your rental property is key to keeping your tenants happy and attracting new ones. Regularly inspect the property for any necessary repairs or maintenance tasks, such as fixing leaky faucets, replacing worn-out carpeting, or ensuring the HVAC system is in good working order. Promptly address any maintenance issues reported by your tenants to show them that their comfort and satisfaction are a top priority.
  6. Be upfront about your rental agreement. Clearly communicate the terms and conditions of the lease agreement to potential tenants. This includes specifying the monthly rent, security deposit amount, lease duration, pet policy (if applicable), and any other important details. It’s essential to provide this information in writing and have both parties sign the lease agreement to ensure clarity and avoid misunderstandings.
  7. Be a friendly and responsive landlord. Building a positive relationship with your tenants goes a long way in creating a harmonious rental experience. Respond promptly to their inquiries or concerns, whether it’s through phone calls, emails, or a dedicated tenant portal. Address any maintenance requests in a timely manner and keep open lines of communication to foster trust and mutual respect. Showing genuine care for your tenants’ well-being can lead to longer tenancies and positive referrals.
  8. Be open to negotiation. While it’s important to have a clearly defined rental agreement, there may be situations where flexibility can benefit both parties. For example, if a prospective tenant requests a move-in date that slightly deviates from your original plan, or if they propose a reasonable modification to the lease terms, consider being accommodating. By being willing to work with tenants on minor adjustments, you demonstrate your willingness to find mutually beneficial solutions.

    Remember to have fun and stay positive throughout the process! Renting out your investment home can be a fun, exciting way to earn some extra cash and meet new people. So enjoy the experience, stay upbeat, and take pride in your Cash Pad!

8 Great Tips for Renting Your Home Short Term

Posted on by brian@gow8less.com

When it comes to short-term home rentals, it’s essential to be well-prepared. Whether you’re looking to make some extra income or to help pay for your vacation home, these tips will help you succeed. Discover how to maximize your rental potential with our ultimate guide to short-term home rentals.

  1. Determine the Purpose of Your Short-Term Home Rental:   Before diving into the world of short-term rentals, it’s crucial to identify your purpose. Whether it’s maximizing income or just paying the bills on your vacation home, understanding your goals will shape your strategy.
  1. Know the Local Laws and Regulations for Short-Term Home Rentals:  Before welcoming guests, familiarize yourself with the local laws and regulations surrounding short-term home rentals. Staying compliant will help you avoid unnecessary headaches and potential legal issues.  See our Pinellas County Short Term Rental Rules page for the rules in our local area.
  1. Set a Competitive Price for Your Short-Term Rental:  To attract guests, it’s vital to set a competitive price for your short-term rental. Research similar properties in your area and analyze market trends to ensure you offer a compelling rate while still maximizing your profits or you can use our Rental Income Potential Estimator to see how much income your home could bring.
  1. Prepare Your Property for Short-Term Rentals:  Get your property ready to impress! Ensure it’s clean, well-maintained, and equipped with all the amenities guests might need. Create a welcoming atmosphere to enhance their stay and earn rave reviews.
  1. Effective Marketing for Your Short-Term Home Rental:  Utilize popular short-term rental platforms to market your property effectively. Craft an enticing listing with captivating descriptions and high-quality photos to grab potential guests’ attention.   The most popular sites are Airbnb, Homeaway and Booking.com
  1. Thoroughly Screen Your Short-Term Rental Guests:  Prioritize the safety of your property and your peace of mind by thoroughly screening potential guests. Verify their identities, check references, and review previous hosts’ feedback to ensure they’ll be responsible and respectful.
  1. Craft a Solid Rental Agreement:  Protect your interests by creating a comprehensive rental agreement. Clearly outline the terms and conditions, rules, and expectations to avoid any misunderstandings or conflicts down the line.   You can contact or attorney or find a generic one on Rocket Lawyer or Eforms.
  1. Consider Short-Term Rental Insurance:  For added peace of mind, consider obtaining insurance coverage specifically tailored for short-term rentals. This will protect you against potential damages or liabilities that may occur during guests’ stays.

If all this sounds like too much work to you, consider hiring a great property manager to take care of everything for you and send you a check.   A great property management company in our area is Azul Bay Vacation Rentals

Follow these top tips for short-term home rentals and you’ll be well-equipped to succeed in this exciting venture. Embrace the opportunities, provide exceptional experiences, and enjoy the rewards of renting your home to travelers from around the world.  Looking to buy a home to get started?  Check out the homes for sale in our area at Cashpads.com or contact one of our specialists’ today!

Should I Rent my Home Short Term or Long Term?

Posted on by brian@gow8less.com

Are you considering having your own Cash Pad (rental property). Well, that’s super exciting! But now you’re faced with the question: Short-term vs long-term rental?  Which is the best for me?

Let’s talk about the cha-ching! 💰 Short-term rentals tend to make more money per night, but long-term rentals provide a steady income. So if you’re looking to make quick cash or take advantage of a great economy, go for short-term. If you’re in it for the long haul (pun intended), long-term rentals are the way to go.  You can find out the Short Term vs. Long term rental income potential for your home using our Rental Income Potential Calculator.

Now, let’s chat about how popular your home will be. 🌟 Short-term rentals tend to be in higher demand, but long-term rentals typically have a lower turnover rate. So, if you’re looking for guests in and out like a revolving door, go for short-term. But if you’re happy with a chill and stable tenant, long-term is where it’s at.

Now, let’s discuss expenses 💸. Short-term rentals need more frequent maintenance, cleaning, and repairs. But long-term rentals tend to be more low maintenance. So if you’re ready for a higher upkeep situation, go short-term. But if you want to keep it low-key, long-term is your jam.

But wait, there’s more! 🤔 Before making any final decisions, check with your local government to see if short-term rentals are legal in your area, and if there are any special regulations or taxes you need to follow.  See our local regulations on our page Local Short Term Rental Rules.

And last but not least, personal use 🏡. If you plan on using your property frequently, short-term rentals will be the best fit, as you have more flexibility to use it when you want while long-term rentals typically stay occupied.

So, whether you choose to rent your Cash Pad short-term or long-term, there are perks to both! Weigh your options and find the best fit for your lifestyle and goals. Happy renting! 🎉

Pinellas County, Florida is a Great Place to Invest in Real Estate!

Posted on by brian@gow8less.com

Looking for a sunny spot to own rental property or Cash Pad? Look no further than Pinellas County, Florida – the perfect place to invest and cash in on paradise!

First off, the demand for rental properties in Pinellas County is as hot as the Florida sun. With a growing population and popular tourist destinations like the beaches and Busch Gardens, you can be sure your rental property will be in high demand, leading to a consistent flow of renters and a potentially high rental income.

And the rental market is super strong. Rental rates are competitive and often increasing, which means you can expect good returns on your investment. Plus, with landlord-friendly laws and regulations, you can breathe easy knowing your property is well-protected.
The local economy is amazing as well. Pinellas County is diverse, with industries like tourism, healthcare, and technology driving the area forward. This means long term renters can find job opportunities and afford rental rates, making it a stable and desirable location for tenants.

But it’s not all work and no play – the Tampa Bay area where Pinellas County is located is a dreamy vacation spot. With a warm climate, beaches, and outdoor recreational activities galore, Short Term (AirBnB) renters will be lining up to stay at your sweet little money maker.
So don’t wait, start planning your investment in a Cash Pad in Pinellas County today. The rental market is hot and the cash is flowing in – what are you waiting for?