Approximately one million people visit the Tarpon Springs sponge docks annually. The quaint shops and restaurants that line the downtown streets make this a perfect place to see old-world Florida. With tourism thriving, it is the ideal place to invest in a short-term rental property.
This home rental guide will help you create a successful plan for renting your home to travelers.
Look up Local Regulations
The first step in managing a vacation rental is to check state, county, and city regulations. Short-term rental property owners must obtain a certificate of registration from the Florida Department of Revenue. They use this to collect and pay their taxes.
Then, they must comply with Pinellas County's short-term rental regulations and standards. These regulations apply to occupancy limits, zoning, noise ordinances, and more.
Finally, you must obtain permission from the city of Tarpon Springs. The city has its own restrictions to ensure proper management of tourism and permanent residents in the area. A vacation property management company can assist with all of these regulations.
Check the Financials
The second step is to check the financials to confirm that renting your property to travelers makes sense. While there are many rental income tips, start by calculating your expenses. Use this number to determine minimum pricing to ensure a profit.
- Mortgage cost
- Lodging tax
- Insurance
- Property taxes
- Cleaning fees
- Maintenance
- Utilities
- HOA fees
Identify Your Ideal Guest
Tarpon Springs travel draws in a broad range of vacationers. Its thriving Greek community draws those seeking culture, artisan crafts, and food. The area also has a rich history of sponge diving, making it ideal for those seeking natural sponges.
Tarpon is also on the water, near other major vacation spots like Clearwater and St Petersburg Beach. Outdoor enthusiasts and adventure seekers come for a quiet place to stay conveniently near the action.
You can tailor your vacation rental marketing material by identifying your ideal guest to speak directly to your target audience.
Research the Local Market
One of the most helpful vacation rental tips is researching the local market. Consider these factors when looking for similar properties.
- Air con
- Parking
- Bedrooms
Identify what makes your property unique and highlight that in your marketing.
Establish a Cleaning Protocol
Cleaning protocols have become essential to managing a short-term rental after COVID-19. Review deep cleaning tips to ensure you have the appropriate protocols in place. Clearly outline your cleaning protocols in your property listing.
Guests will be more likely to book when they are confident they are booking a clean vacation home. You also need to have cleaning standards defined to get accurate cleaning costs for your budget planning.
Have a Plan for Renting Your Home to Travelers
Owning a short-term rental home in Tarpon Springs, FL, is an intelligent investment decision. Before renting your home to travelers, confirm that you comply with all laws. Do your financial due diligence, research the local market, and establish cleaning protocols.
The PMI Clearwater team specializes in the Pinellas County market, giving them unique insight into the area's vacation rentals. Our team can provide in-depth data reporting, innovative technological tools, and day-to-day management services.
Trust your property with the experts at PMI Clearwater. Their knowledge of the market, innovative technology, and attention to detail will help your rental be a success.
