AIRBNB Real Estate Investing is increasingly becoming a topic of discussion at SWFL REIA meetings.
While this is a new addition for real estate investing. You must be mindful to still ground yourself in the basics and not reach for an asset because of this “new” way to gain tenants.
AIRBNB Real Estate Investing: Location, Location, Location.
The mantra “location, location, location” is even truer in short-term vacation rental ownership. Certain areas attract long-term renters, certain areas attract short-term renters. Short Term rentals are popular with tourists and as atourist destination.
AIRBNB Real Estate Investing: Examine the local ordinances and rules.
Lee County and the State of Florida collect taxes on short-term rentals. Short-term rentals are defined by the Florida Department of Revenue as periods less than 185 consecutive days or six calendar months, whichever is less.
Make sure you:
- Register with the appropriate government agencies.
- Collect sales tax from short-term renters. sales tax is collected from guests upon payment. However, the Florida Department of Revenue places the legal responsibility for this tax revenue squarely on the shoulders of the host. Failure to collect tax from guests means the host will need to pay the tax or recoup the tax revenue from the guests.
- File sales tax returns. Failure to file Florida state and local sales tax returns on time may result in late fees, interest payments, and in extreme cases, legal action.
- Most local governments have laws specifying how a home can be used. Before renting out your home, be sure to review city zoning and planning codes.
- Homeowner Associations (HOA) located in Florida may have specific rules regarding vacation rentals as dictated in the Home or Condo Association documents.
AIRBNB Real Estate Investing: Make sure the property works as a long-term rental as well.
This is critical because the business ebbs and flows, and consumer demand could change. Hedging yourself against market changes is important. The only constant for Real Estate Investing in change.
SWFL REIA is dedicated to helping members make profitable and well-thought-out residential investment choices via our content-rich meeting and collaboration with like-minded investors.
The Southwest Florida Real Estate Investment Association is the leading source of SWFL real estate investing events that provide investment education and networking in southwest Florida. We analyze the housing market and foreclosures and provide information, education and networking events in order to build a network and knowledge base for investors and potential investors. Our members include real estate agent, brokers, investors, hedge fund managers, rehabbers, wholesalers and more.
Our SWFL REIA General Meeting is held in Fort Myers where we provide education on hot topics in investing and an opportunity to enjoy the camaraderie of your fellow investors. You’ll get a chance to ask for advice from successful real estate professionals and even make a few deals on your latest projects.
To become a member, anyone can register as an individual, a couple, or a corporation. Being a member opens the doors for endless networking opportunities, advice from members with decades of experience, new ideas from entrepreneurs, camaraderie with those just beginning, and deals and contracts done in the meeting room. For those interested in Cape Coral rental property investment and/or Fort Myers rental property investment, SWFL REIA will be able to provide a network to help launch a successful investment career.
The SWFL REIA is known and respected as a source of current, actionable and useful information about the housing market in the area that we meet.
We meet twice a month.
One of the premier sources for real estate investing networking and education is the SWFL REIA. In the real estate world, the SWFL REIA is different in that they do not do information product sales. Their meetings are focusing on the best ways of investing in real estate by collaborating with other property investors who are sharing their experiences.
We look forward to meeting you at a meeting soon!
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