Deerfield Beach, Florida, is a highly lucrative market for short-term rentals, boasting a median occupancy rate of 66%, an average daily rate of $189, and an average annual host revenue of $42K, making it an attractive and profitable investment opportunity.
Thriving Short-Term Rental Market in Deerfield Beach, Florida
Deerfield Beach, Florida, is experiencing a robust and lucrative short-term rental market, making it an attractive destination for investors and hosts. The city boasts a strong occupancy rate, with typical listings achieving a median occupancy of 66% throughout the year, peaking at 79% in February due to favorable weather and local events.
The average daily rate (ADR) is also impressive, standing at $189, with peak daily rates reaching up to $359 in March, driven by high demand and seasonal price appreciation. This translates to an average annual revenue of approximately $42,000 to $48,800 per listing, highlighting the significant earning potential for Airbnb hosts in the area.
With lenient short-term rental regulations and a balanced market offering solid occupancy rates and high weekend revenue potential, Deerfield Beach presents a highly favorable ecosystem for short-term rental investments.
Short-Term Rental Regulations in Deerfield Beach, Florida for 2024
Registration Requirements
- Property owners must register their vacation rentals with the City of Deerfield Beach if they rent their residential dwelling unit to transient occupants more than three times in a calendar year for periods of less than thirty days or one calendar month, whichever is less. Registration must be completed by October 1st of each year or within 90 days thereafter if approved by the city commission.
Required Documents
- Business Tax Receipt from the City of Deerfield Beach
- Tourist Development Tax Registration from Broward County
- Vacation Rental License from the Florida Department of Business & Professional Regulation
- Certificate of Registration from the Florida Department of Revenue
- Notarized affidavit acknowledging the city's vacation rental regulations
- Completed vacation rental responsible party application
- Copies of required postings as per the city's regulations
- $100 registration fee.
Tax Obligations
- Collection and remittance of Tourist Development Tax to Broward County
- Collection and remittance of Sales Surtax and Transient Rental Tax to the Florida Department of Revenue.
Occupancy Limits
- Maximum occupancy of a dwelling unit must not exceed two individuals per bedroom plus two additional individuals.
Safety and Compliance
- Compliance with safety requirements, including minimum life safety standards
- Adherence to community rules, HOA guidelines, and other applicable standards within the City of Deerfield Beach Land Development Code.
Responsible Party
- Designation of a vacation rental responsible party capable of meeting the duties outlined in the city's regulations.
Postings and Information
- Vacation rental lease agreements must contain minimum required information
- Required postings must be displayed as prescribed by the city's regulations.
Renewal
- Property owners must renew their short-term rental registration annually by October 1st to maintain compliance.
Enforcement
- Deerfield Beach actively enforces its short-term rental regulations, with potential fines and property closures for non-compliance.
Top Airbnb Revenue-Generating Neighborhoods in Deerfield Beach, Florida
Deerfield Beach, known for its vibrant Airbnb market, has several neighborhoods that stand out for their high revenue potential and appeal to guests. Here are some of the most lucrative areas:
1. Area Around Deerfield Beach International Fishing Pier
- This area is highly appealing due to its proximity to the beach and the popular Deerfield Beach International Fishing Pier. Guests are attracted to the scenic views, fishing opportunities, and the lively atmosphere around the pier.
- Financial Metrics: High occupancy rates, especially during peak months like February and March, contribute to significant revenue for Airbnb hosts.
2. Quiet Waters Park Area
- Quiet Waters Park is a major draw for families and outdoor enthusiasts, offering activities such as paddleboat rentals, a skate park, and a variety of trails.
- Guest Appeal: The park’s amenities and the nearby residential areas make it an ideal spot for families and those seeking a mix of outdoor activities and relaxation.
3. Butterfly World and Surrounding Neighborhoods
- Butterfly World, a unique attraction featuring a tropical garden with thousands of butterflies, is a significant tourist draw.
- Guest Appeal: The area’s natural beauty and educational attractions make it appealing for families and nature lovers.
4. Hillsboro Inlet Lighthouse Area
- The historic Hillsboro Inlet Lighthouse is a popular spot for both locals and tourists, offering stunning views and a piece of local history.
- Guest Appeal: The scenic views, historical significance, and nearby beach access make this area highly attractive.
5. South Inlet Park Beach Area
- This area is known for its beautiful beach, picnic areas, and recreational facilities.
- Guest Appeal: The combination of beach activities, picnic spots, and a relaxed atmosphere makes it a favorite among guests looking for a beach vacation.
6. Morikami Museum and Japanese Gardens Area
- The Morikami Museum and Japanese Gardens offer a unique cultural experience with beautiful gardens and museum exhibits.
- Guest Appeal: The cultural and aesthetic appeal of the gardens and museum attract guests looking for a more refined and educational experience.
Key Factors Contributing to Revenue
- High Occupancy Rates: Neighborhoods around these attractions often see high occupancy rates, particularly during peak months like February and March, with rates reaching up to 79%.
- Average Daily Rates (ADR): The ADR in Deerfield Beach is around $302.6 to $303.1, with peak rates reaching up to $341 to $359 in March, indicating strong earning potential.
- Revenue Per Available Room (RevPAR): The RevPAR is significant, especially during weekends, reaching up to $290 to $298, highlighting the profitability of these areas.
These neighborhoods in Deerfield Beach offer a balanced mix of natural beauty, cultural attractions, and recreational activities, making them highly appealing to guests and lucrative for Airbnb investors.
Creating an Inviting Airbnb in Deerfield Beach, Florida: Furnishing and Design Tips
Comfort is Paramount
- Comfortable Bedding: Ensure beds have high-quality mattresses and linens. Consider hypoallergenic bedding to accommodate guests with allergies.
- Ample Seating: Provide sufficient seating in living areas, including a cozy sofa and comfortable chairs to create a welcoming atmosphere for relaxation.
Style and Aesthetics
- Beachy Theme: Choose a cohesive decor theme that reflects the beachy, relaxed vibe of Deerfield Beach. Opt for nautical or coastal themes with light, airy colors.
- Local Touches: Incorporate local artwork and beach-themed decorations to give your property a unique and local flavor.
Functional Furniture
- Practical Pieces: Include functional furniture such as a dining table that can accommodate all guests. Ensure there is ample storage space with dressers, closets, and luggage racks.
- Outdoor Space: Furnish outdoor spaces with comfortable patio furniture, such as an outdoor dining set or lounge chairs. Consider adding a grill or BBQ area if space allows.
Entertainment Options
- Modern Entertainment: Equip your property with up-to-date entertainment options like a flat-screen TV, streaming services, and a Bluetooth speaker.
- Additional Activities: Provide a selection of board games, books, and local guides for guests to enjoy during their stay, particularly on rainy days or quiet evenings.
Essential Amenities
- Air Conditioning: Given Deerfield Beach’s warm climate, ensure your property is equipped with efficient cooling systems.
- High-Speed Internet: Provide reliable wired and wireless internet connections.
- Parking: Offer free and convenient parking.
- Kitchen Facilities: Equip your kitchen with modern appliances, cookware, utensils, and basic pantry items.
- Laundry Facilities: Provide a washer and dryer, ensuring they are easy to use and supply detergent.
Additional Amenities
- Beach Equipment: Provide beach towels, chairs, umbrellas, and possibly snorkel gear or boogie boards to enhance your guests’ beach experience.
- Safety Features: Install smoke detectors, carbon monoxide detectors, and a fire extinguisher. Provide a first aid kit and emergency contact information.
- Welcome Pack: Offer a welcome pack with essentials like bottled water, snacks, local maps, and guides to make guests feel appreciated and at home.
- Child-Friendly Amenities: If targeting families, provide items such as a crib, high chair, and baby-proofing supplies.
Neighborhood and Local Considerations
- Reflect Local Lifestyle: Ensure your decor and furnishings reflect the local lifestyle and attractions of Deerfield Beach, such as its beach culture and vibrant nightlife.
- Proximity to Attractions: Highlight the proximity to local attractions like the beach, pier, boardwalk, and restaurants to attract guests looking for a convenient and enjoyable stay.
Discover Deerfield Beach: Local Attractions and Insider Tips
Local Attractions
Beach and Water Activities
- Deerfield Beach: Enjoy the award-winning 'Blue Wave' beach, known for its pristine water and clean sand. It features nine lifeguard towers and a designated surfing area north of the pier and south of Tower 7.
- Deerfield Beach International Fishing Pier: A nearly 1,000-foot pier perfect for fishing, photography, and taking in the views. Rent fishing gear and buy bait at the Deerfield Beach Shop.
- Snorkeling and Scuba Diving: Explore the artificial reefs and warm waters of the Gulf Stream. Book a dive tour to discover the wreck of the Ancient Mariner and other dive spots.
Parks and Nature Reserves
- Quiet Waters Park: Hike, bike, or kayak through this picturesque park. It offers mountain biking trails, volleyball, disc golf, nature trails, and a water park with slides and a splash pool.
- Deerfield Island Park: An Urban Wilderness Area accessible only by boat, featuring trails through mangroves, a butterfly garden, and a variety of wildlife such as gopher tortoises and seabirds.
Other Attractions
- Deerfield Beach Boardwalk: A mile-long boardwalk along the beachfront offering unbeatable ocean views, restaurants, and shops.
- Ski Rixen USA: Experience cable water skiing at one of the longest cable ski courses in the area.
- Planet Air Sports: A unique spot for exercise and sports training, including trampolines and other fun activities.
Insider Tips
Dining
- Charm City Burger Company: Known for microbrews and premium steak burgers.
- Oceans 234: Enjoy fresh seafood in a contemporary setting with optional patio seating.
- JB’s on the Beach: Savor weekend brunch with dishes like lobster benedict or smoked salmon BLT.
- Kahuna's Bar & Grill: A great spot for burgers, wings, and fajitas, with live music in the evenings.
Events
- Annual Festivals: Check out events like the Deerfield Beach Festival of the Arts, Beach Sounds free concert series, and the Boots & Bourbon Country Music Festival.
- Dunn’s Run 5K Walk and Run: Participate in this popular annual event.
Activities
- Island Water Sports: Take private or group lessons in surfing, skating, skimboarding, and paddleboarding. Free stand-up paddleboard and surfing lessons are offered every Saturday morning.
- Eastern Watersports: Rent kayaks or paddleboards for a family outing on the water.
Tips for Visiting
- Best Views: Visit the Deerfield Beach International Fishing Pier during sunrise or sunset for the best views over the Atlantic.
- Lifeguards: Lifeguards are on duty daily from 9:00 AM to 5:00 PM, ensuring a safe beach experience.
- Wildlife: Keep an eye out for the diverse wildlife at Deerfield Island Park, including rare species like the gopher tortoise and grey foxes.
By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to Deerfield Beach.
Practical Tips to Run a Successful Short Term Rental Business in Deerfield Beach, Florida
To ensure the success and compliance of a short-term rental business in Deerfield Beach, Florida, several practical tips can be implemented:
Noise Regulations and Guest Communication
Comply with local noise ordinances by informing guests about quiet hours. Include this information in your listing and provide a clear notice within the rental property. This helps respect neighboring residents and avoids potential issues.
Comprehensive House Manual
Create both digital and physical house manuals that include essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact information. This manual should also outline the house rules, including noise regulations, to ensure guests are well-informed and compliant.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with detailed instructions on how to access the property, including photos of the lock and any other relevant entry points.
Clear Parking Instructions
Ensure that parking instructions are clear and accompanied by photos. This helps guests understand where they can park and how to access the property, reducing confusion and potential parking issues.
By implementing these measures, you can enhance guest satisfaction, reduce the likelihood of complaints, and maintain a smooth and efficient short-term rental operation in Deerfield Beach.
Here is a brief list of house cleaning providers in Deerfield Beach, Florida:
House Cleaning Providers in Deerfield Beach, FL
L & L Home and Office Cleaning Services, Inc.
- Offers residential and commercial cleaning services, including carpet, upholstery, post construction, move in/out, apartment, and tile and grout cleaning.
- Provides 24/7 availability, flexible booking, competitive pricing, and a 100% money back guarantee.
eMaids
- Provides residential house cleaning, office cleaning, vacation rental cleaning, post construction cleaning, and move in/out cleaning.
- Offers competitive hourly rates, background-checked, insured, and bonded maids, and a 100% satisfaction guarantee.
Merry Maids
- Offers ongoing or one-time cleaning services including housekeeping, move in and out cleaning, apartment cleaning, and maid services.
My Cleaning Angel
- Matches clients with local cleaners for house cleaning services.
- Features easy and fast online booking.
For additional options, you can also check local listings on platforms like Care.com, which lists multiple affordable house cleaning services in Deerfield Beach.
Short-Term Rental Management Fees in Deerfield Beach, Florida
In Deerfield Beach, Florida, managing a short-term rental property involves a range of fees that can vary significantly based on the level of service provided. Typically, management fees for short-term rentals range from 10% to 30% of the rental revenue. Full-service management, which includes comprehensive services such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often starting at around 15% to 20% of the revenue[5,.
Basic services, which may only include listing management and booking oversight, can be less expensive. Additionally, property owners may incur extra fees for services like cleaning, repairs, and interior design or staging.
Professional management companies, such as those operating in Deerfield Beach, offer a variety of packages tailored to the specific needs of property owners, ensuring that while the fees are a percentage of the revenue, they contribute to maximizing rental income and maintaining a high level of guest satisfaction.