Naples Airbnb Investment Properties
As a small slice of paradise, the Florida Gulf Coast is ideal for Airbnb rentals. With its beautiful beaches, fine dining, sophisticated art scene, and a wealth of outdoor attractions, Naples properties, in particular, are highly sought after. As the demand for Airbnb and short-term rentals continues to increase, investment properties in Naples have the potential to deliver significant income. However, before investing, it’s critical to understand local regulations and zoning issues, tourism factors, and any tax implications, among other issues. Read more about Naples Airbnb investment properties.
Naples Airbnb Investment Properties For Sale
More About Naples Airbnb Investment Properties
What Makes a Good Rental Property?
Not surprisingly, properties near the beach that are rented seasonally will generate the most rental income. Ideally, the house features three bedrooms, at least two bathrooms, a pool and is within a short walk or bike ride to one of the beaches. Increasingly, pet friendly rentals are also able to command premium prices as many families travel with their furry friends. The model is even better if there are no homeowner association (HOA) restrictions regarding the number of leases per year or restrictions on the length of the lease. This formula is also likely to result in overall increased appreciation of the home over time as well as solid income potential.
In Naples, there are a select few neighborhoods that fit this bill including Naples Park, Connors at Vanderbilt Beach and Park Shore. Demand is high as many neighborhoods do place restrictions on leases and time periods on an annual basis.
Considerations Before Taking the Airbnb Plunge
Many Airbnb hosts cite the flexibility to pick and choose when they want to rent, as well as the advantage of having Airbnb collect all payments upfront as key benefits. However, as an active host, you technically have to be on call 24/7 to respond to any issues or requests that come from guests currently staying on the property. You’re also expected to furnish the property with high-quality and comfortable appointments that renters will use during their stay. Pay particular attention to your walls, carpets, and lighting to ensure they remain in good condition so that your rental doesn’t look “tired” or shabby after multiple rental periods.
The Legal Scoop on Short-term Rentals in Collier County
The legal landscape for rentals is constantly shifting but here are a few key steps property owners must take to have a “code-compliant” rental in unincorporated Collier County:
- Register with the State of Florida DBPR
- Register with the Collier County Tax Collector
- Obtain a 1-time registration certificate for each short-term rental
- Comply w/occupancy limits and maintenance requirements and advise guests in advance of any restrictions
- Have a contact person available 24/7
- Include county registration number on all advertising –print radio, video, online.
*Note – based on a 2008 City Ordinance, the City of Naples prohibits short-term rentals of single-family homes as well as advertising of these rentals. While a significant portion of Collier County has a Naples address, the City of Naples is a smaller area running west of US-41 between Seagate Boulevard and Port Royal as well as the area around Naples Airport, Golden Gate Parkway and Naples Bay.
Key Items to Include in a Short-term Rental Agreement
A carefully thought-out rental agreement is key to protecting you and your property. A formal agreement is used when you’re renting your property for any length of time up to 30 days. Airbnb requires your guests to sign the short-term rental before booking. Here is a quick list of other key components:
- The rental period – should clearly state the arrival and departure dates.
- Property description – be specific about amenities, furnishings, bed sizes and linens, as well as A/C.
- Any occupancy limitations – specify a maximum as well as define sleeping. arrangements and make clear how many guests are allowed to stay there.
- Rules/restrictions – specify any restrictions such as pets or no smoking.
- Payment – be clear about the rental rates and due dates for all payments. Also spell out any additional fees such as cleaning or amenities. Requesting a security deposit upfront can provide additional protection.
- Legal liability –ensure your property is fully insured and potentially seek legal counsel to insert a paragraph or two on liability related to potential accidents and injuries.
- Violations – capture in writing what happens if your guests break any of the terms and conditions of your agreement so it is clear upfront what the penalties are.
Mistakes to Avoid When Buying a Rental Property
One of the most common mistakes buyers make in purchasing investment properties is to not do enough research upfront. Looking at the overall location, neighborhood and nearby amenities is key to understanding if you will be able to attract your target renters. Second, make sure you are familiar with the local laws and regulations as parts of Naples (City of Naples) do not allow short-term rentals. You should also be prepared to spend some time marketing your property with quality photos and appealing copy. Along these same lines, you don’t want to blow your budget on furnishings or worse, repairs, if you haven’t factored some of these considerations in upfront.
Why Furnishings Make a Big Difference to the Success of Your Rentals
Airbnb is all about making people feel at home. It’s no surprise that better furnishings create better guest experiences and leave an enduring impression – as well as contribute to good reviews.
Experienced hosts note that comfortable beds are a must as well as ensuring the property has a nice couch and enough seating for a group of guests. A well-equipped kitchen is another must – you want to stock the kitchen with sturdy dishes that match; pots, pans; and a selection of cooking utensils. High-quality towels in the bathroom and extra hand towels are another way to win points. Finally, strong Wi-Fi is also critical as many travelers expect to be able to work and won’t tolerate slow Internet service.
The Kitchen Staples Every Airbnb Needs
Whether your property features a large gourmet kitchen or a cozy galley kitchen, you want to ensure your guests have everything they need during their stay. And, typically Airbnb guests may have specifically rented a home rather than paying for a hotel because they want to stay in at times and cook their own meals.
- Coffee Maker
- Toaster Oven
- Cutting boards, knives
- Cooking utensils
- Can openers
- Bottle/wine openers
- Clean-up supplies – all-purpose cleaner, dishwasher soap, broom, dustpan, paper towels
You don’t need to stock the unit with groceries or other perishables, but ensure your listing copy matches what you actually have in the property.