Pam, Other/Just Looking in Illinois

I am looking at buying a vacation rental property in the Tampa/Clearwater/St.Pete etc. area. Does anyone?

Asked by Pam, Illinois Fri Feb 20, 2009

have suggestions on specific areas that offer good rental potential? I am looking for beach or waterfront/view properties.Thank you in advance for your responses.

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Answers

9
To get the most out of your rental unit, buy on the beach side. A conservative estimate is that you can rent it out for 8-9 months of the year.

Condos across the street on the Intracoastal/Bay side will be less expensive to purchase but you'll only be able to rent it during the high/winter season. You might get some summer rentals, but at that time there is ample vacancy on the beach side, and that is where most visitors will want to be.

Check with a property manager to get the rental history of a condo and run the numbers. It will all make sense at that point!

Good luck!

Megan Bower, Coldwell Banker
Florida Native Selling Florida

Clearwater to St Pete Beaches
727 742 2699
Megan@LifestyleFL.com
0 votes Thank Flag Link Mon Jan 23, 2012
You might consider a condo-hotel where you would own the unit but could have a management company oversee the rental like a hotel and you get a cut. There are at least 10 condo-hotels along the beaches with a few in St Pete Beach. I've showed many condo-hotels to clients. They are, however, hard to get financing for so it usually means a cash sale. Many condominiums have a 90 day minimum rental policy or no rental at all so you have to look out for that. You will also want to find a condo bldg that accepts pets since at least 60% of the American population has pets ..which makes your unit more rentable. There are many beach and waterfront properties to choose from. On the beach side you are looking at a minimum of $250k and more like $275k and up. Across the street, then that can be as low at $125k for a condo. Houses near the beach vary widely, but have seen some for as low as about $200k. Let me know if I can help you. I answer my phone and my emails and I text.

Barry Smith, B.S.O.M., E-PRO
Keller Williams Realty Gulf Coast
263 Corey Ave
St Pete Beach
FLRealtorBarry@aol.com
727-773-6677
0 votes Thank Flag Link Wed Jun 8, 2011
Pam,
We help people with this all the time and have help buyers purchase 6 in the past 2 months - in my experience if you are looking to buy it as an investment then you'll want to look for condos that have a 1-7 day rental first as they have the most rental potential, then 14 days and lastly would be 30 days. In addition if it's been a rental that will usually help you have more income faster since a certain percentage of renters tend to come back year after year.

We know condos from Clearwater Beach to St Pete Beach and the best ones our clients have found have been in Indian Shores and Indian Rocks beach because very vacation rental friendly with lots of 7 day or less options. Also there are some in Madeira Beach, Redington Shores, N Redington Beach etc. that do well - just watch for noise on the road as you get closer to Johns Pass. I have found a handful of proven performers along these beaches that consistently do $30-40K annually and even as high as $50K. Clearwater Beach condos typically command a higher price and lower rental options and in my experience it's not geared to vacation rentals so when I've reviewed actual rental history in units like Cresent Beach Club - the ones I've seen have been 1/2 what other short term rentals have demonstrated and the price is 30%+ more - On Clearwater Beach they are very sensitive to competing with their hotels and a few years back banned 7 day rentals of homes on the North end of the beach - a few were grandfathered in but other than that it's a 30 day minimum.

When our clients find communities / condos they like we recommend searching the community in Google and see what kind of reviews the community / unit has - gotten because most renters like buyers are savvy and will typically search online.

Also we don't do rentals, however we always refer our clients to 3 of the most successful local companies that specialize in vacation rentals so they can give them realistic income expectations based on their experiences.

Hope this is helpful, Good luck in your search.

Cyndee Haydon
Charles Rutenberg Realty
(727) 710-8035
Cyndee@SandbarsToSunsets.com
0 votes Thank Flag Link Mon Jun 6, 2011
St. Pete Beach of course. Pass a grille, Tierra Verde!!!
0 votes Thank Flag Link Thu Mar 11, 2010
We are located in St. Pete Beach and know first hand that this is a great area for vacation rentals. Other areas on the beach are Treasure Island, Pass-A-Grille Beach and Tierra Verde. The reason vacationers and locals alike enjoy St. Pete Beach is because the beach is wide and the gulf waters are typically calm and great for swimming and other water sports. St. Pete Beach is also between the Intracoastal waterway and the beach, so there is a lot of waterfront property to choose from. Finally the low prices are some of the best we have seen in a long time, especially for condos.
0 votes Thank Flag Link Tue Mar 9, 2010
I have a 4 bedroom home for sale on 21st Avenue in the Pass-A-Grille area of St Pete Beach, Florida. The home is one home off the Gulf of Mexico. You can see the Gulf from the home and hear the waves. The Pass-A-Grille beach is one of the best walking, running, shelling beaches anywhere. For further information I suggest you contact my local Realtor who is Joan Flynn at St Pete Beach Realty. Joan can be reached at 727-367-4582.
Alice
0 votes Thank Flag Link Tue Mar 2, 2010
TRY- http://WWW.FLORIDA-PROPERTYSEARCH.COM
THIS SITE WILL GIVE YOU EVERYTHING WITH PICTURES, LISTING AND ASWERS TO QUESTIONS YOU REALLY NEED TO KNOW BEFORE PURCHASING A PROPOERTY IN THE TAMPA BAY AREA.
THERE IS A PLACE WHICH YOU CAN HAVE NEW LISTINGS SENT TO YOU THE MINUTE THEY ARE RELEAST ON THE MLS
0 votes Thank Flag Link Thu Nov 12, 2009
No I don't but I would like to point out that prices vary by beach and rents vary by beach so you need to do some research. Most agents are not experts in all of the beaches, I would pick one from St. Pete beach to Madeira and another one from Redington to clearwater beach. I personaly like St. Pete. Beach.
0 votes Thank Flag Link Sat Feb 21, 2009
Pam, You might try these sites to help get a feel for rental trends and rent comparables.

http://www.zilpy.com/ .........................http://www.rentometer.com/

Good luck in your investment, Dunes
0 votes Thank Flag Link Fri Feb 20, 2009
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