Buying a beach home can be an excellent way to generate a return on investment, a steady income stream, and access to a charming vacation spot. Many beach house investors purchase properties that they later rent out during peak tourist hours. Investing in a beach rental is not a get-rich-quick scheme; it takes time and money to run a successful vacation rental business. However, once you get the hang of it, investing can be very lucrative.
A collective license is issued to a licensed agent representing a collective group of houses or units that are in separate locations. This type of license is limited to 75 units or less and is restricted to counties within a district. Creating an inviting space for guests is one of the most effective ways to make money with your vacation rental. Not only does this improve the guest experience, but it's also key to good marketing.
If your guests post pictures of themselves in your home on Instagram, then you're doing well. Vacation rental software, such as IgM, helps hosts maximize their income and ROI by providing robust tools for all aspects of managing their vacation rentals. For example, if you're considering buying a beach home in Key West, Florida, one of the best beach towns in the state, Mashvisor will help you break down some of the best areas there, such as The Meadows, Midtown, and Old Town. With the stunning ocean views and built-in beach activities, such as swimming or surfing, for guests to enjoy, the beach house will practically market itself, especially during the peak season in summer.
Owning one or more vacation rental properties in Florida allows you to make a vacation rental offer on each of them. Last year's home sales and vacation rental data were examined using real disposable income of homeowners. While the primary purpose of a vacation rental investment is to rent your home to guests, the beach house will remain your property for personal use when you want your own getaway. It will be even easier to book a beach vacation if you already have a beach vacation home, which you can simply lock in your availability calendars and enjoy with friends and family.
As hopeful homebuyers struggling in an unforgiving market, many choose to retain rental properties in expensive areas and make a second home their first home purchase. On average, beach properties attract higher rental income than those that don't offer beach services or something similar. This vacation rental property not only generates income but also provides free accommodation during your much-needed vacation. There's nothing worse than promising your guests a beach holiday when your beach rental is a 30-minute drive from the sea. If there is one common wish on the wish list of all beach lovers, it is to have a holiday home by the coast.
This week's graph shows the 10 most profitable areas for beach rentals according to Vacasa's analysis, as well as the average home price and average gross income (before expenses) per rental in each. If you're willing to put in the effort to look for a profitable location and spend time finding a property with great income potential and are willing to use tools such as vacation rental software to help boost your property management, it would be wise to invest in a beach home.