Airbnb & VRBO Performance in Lauderdale Florida.

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Lauderdale, Florida: Airbnb & VRBO Vacation Rental Market Overview

Fort Lauderdale, Florida, is experiencing robust short-term rental performance, with a median occupancy rate of 67%, an average daily rate of $195, and an average annual host income of $45,000, making it a highly profitable and stable investment opportunity.

Market overview

Thriving Short-Term Rental Market in Fort Lauderdale, Florida

Fort Lauderdale's short-term rental market is experiencing a significant surge in performance, making it an attractive and lucrative investment opportunity. The city boasts an impressive occupancy rate of 60-67%, depending on the source, with peak months like March seeing occupancy rates as high as 78%.

The average daily rate (ADR) in Fort Lauderdale is substantial, ranging from $195 to $323.3, highlighting the market's strong revenue potential. This is further reinforced by the maximum monthly revenue of $7,200 during peak periods, and an average annual revenue of $45K to $70.8K per rental.

The combination of high occupancy rates, robust average daily rates, and significant annual revenues underscores the profitability and stability of investing in short-term rentals in Fort Lauderdale. The city's vibrant tourist appeal, diverse attractions, and lenient regulatory environment make it an ideal location for hosts and investors looking to capitalize on the thriving short-term rental market.

Short Term Regulations

Short-Term Rental Regulations in Fort Lauderdale, Florida for 2024

Registration and Licensing

  • All short-term rental properties must be registered annually with the City of Fort Lauderdale's Short Term Rental Registration Program.
  • The annual registration fee is $350, covering up to four rental units under one owner.
  • Property owners must obtain a Certificate of Compliance from the city, which must be prominently displayed on or adjacent to the main entrance door's interior.

Safety and Housing Standards

  • Properties must meet minimum housing and life safety standards outlined in Article X – Vacation Rentals, Chapter 15 of the Code of Ordinances of the City of Fort Lauderdale. This includes requirements such as hard-wired smoke detectors, a landline phone, fire extinguishers, and pool fences with alarms.

Tax Compliance

  • Property owners must collect and remit the 6% Florida Transient Rental Tax, the 6% Broward County Tourist Development Tax, and the 0.5-1.5% Florida Discretionary Sales Surtax. Hosting platforms like Airbnb may collect these taxes on behalf of hosts.

Occupancy Limits

  • Occupancy is capped at two people per bedroom, plus two additional people in one common area, or alternatively, if each person has at least 50 square feet of space, more than two per bedroom are allowed, plus two extra in a common area.

Responsible Agent Requirement

  • Property owners must designate a responsible agent who is available 24/7 and situated in close proximity to the property to address any issues related to the rental property within a one-hour response time.

Inspections and Compliance

  • The city conducts safety inspections, and properties must pass these inspections to ensure compliance with safety standards. Reinspection fees may apply.

Zoning and Local Restrictions

  • Property owners must comply with local zoning laws and restrictions. Certain areas within the city may have specific zoning laws that restrict where short-term rentals can operate.

Lease Agreements and House Rules

  • Lease agreements must clearly specify the lease term, rent amount, due dates, payment methods, security deposit terms, occupancy limits, and house rules regarding pets, smoking, noise, and areas off-limits to guests. Agreements must align with Fort Lauderdale's short-term rental ordinances.

Enforcement and Penalties

  • Violations of the ordinances can result in fines and the revocation of the rental license. Neighbors can report unregistered short-term rentals, and the city actively enforces compliance through the Vacation Rental Registration Program.

State and County Licenses

  • In addition to city registration, property owners must obtain licenses from the Florida Department of Business and Professional Regulation (DBPR) and a Broward County Business Tax Receipt, unless exempt.
Neighborhood Performance

High-Revenue Airbnb Neighborhoods in Fort Lauderdale, Florida

1. Las Olas

  • Appeal: Las Olas Boulevard is the heart of Fort Lauderdale, connecting Downtown to the beach. It is renowned for its over 34 cafes and restaurants, 120 specialty stores, art galleries, museums, and high-end boutiques. The area's vibrant dining and shopping scene, along with its proximity to both downtown and the beach, makes it highly attractive to guests.

2. Harbor Beach (Fort Lauderdale Beach)

  • Appeal: Known for its luxurious waterfront properties, Harbor Beach is a paradise for boaters and yachting enthusiasts. The area offers private docks, proximity to the sea, and easy access to restaurants, golf courses, shopping, and the Museum of Art. Its luxurious amenities and prime location near the beach make it highly sought after.

3. Victoria Park

  • Appeal: Located close to Downtown Fort Lauderdale, Las Olas Boulevard, and the beach, Victoria Park offers a diverse range of homes from luxury properties to affordable apartments. The area's convenient location, proximity to Holiday Park, and a variety of local amenities make it a favorite among guests.

4. Coral Ridge

  • Appeal: This luxury neighborhood features large single-family homes, many of which are within walking distance to restaurants, shops, and beautiful parks like Bayview Park and George English Park. The area's upscale living, proximity to the beach, and high-end amenities attract high-end travelers.

5. Sunrise Intracoastal

  • Appeal: Known for its luxury waterfront properties, Sunrise Intracoastal is appealing to affluent tourists. The neighborhood's proximity to major attractions like Las Olas Boulevard enhances its rental appeal, potentially yielding high occupancy rates and above-average daily rates.

6. Central Beach

  • Appeal: This bustling area is near the beach and nightlife, making it perfect for tourists who prefer easy access to sun, sand, and entertainment. Properties here can command higher rental rates, particularly during peak tourist seasons.

7. Rio Vista

  • Appeal: Although not as frequently mentioned as other areas, Rio Vista is a growth-oriented community with scenic landscapes and historic neighborhoods. Its proximity to coastal beaches and other leisure activities makes it an attractive option for guests seeking a mix of tranquility and accessibility.

8. Coral Shores

  • Appeal: This residential area is favored for its quiet, residential ambiance and access to waterways, making it ideal for families and longer stays. The peaceful environment and community vibe attract guests looking for a home-away-from-home experience.

These neighborhoods are highly appealing due to their unique blend of luxury, convenience, and access to various attractions, making them prime locations for generating significant Airbnb revenue.

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Design Tips

Tips for Furnishing and Designing an Inviting Airbnb in Fort Lauderdale, Florida

Color Scheme and Decor

  • Opt for a coastal and beach-themed decor that incorporates bright colors, lightweight materials, and natural textures to resonate with the local vibe.
  • Use soft blues, whites, and natural materials to create a laid-back, tropical atmosphere.

Furniture and Layout

  • Invest in comfortable beds, stylish outdoor furniture, and functional kitchenware to enhance guest comfort and satisfaction.
  • Choose modern minimalistic designs with sleek lines and functional layouts to appeal to a contemporary audience.
  • Incorporate mid-century modern designs for a chic yet relaxed feel.

Amenities and Features

  • Include amenities such as private pools, hot tubs, game rooms, and outdoor living spaces to cater to families and larger groups.
  • Ensure proximity to the beach or waterfront to enhance the vacation experience.

Local and Cultural Elements

  • Incorporate tropical elements like greenery and vibrant artwork to enhance the overall ambiance and make the space Instagram-friendly.
  • Use decorative themes that reflect local culture or beachfront vibes to provide a memorable stay for guests.

Quality and Comfort

  • Focus on high-quality furnishings and updated décor to attract discerning guests and improve guest satisfaction.
  • Invest in natural fibers for bedding and towels to ensure comfort and a premium feel.

Neighborhood Considerations

  • Consider the specific neighborhood when choosing decor styles. For example, Las Olas Boulevard and the Seven Isles area have different aesthetic preferences.
  • Ensure the decor aligns with the vibrant cultural scene and beach lifestyle of Fort Lauderdale.

Additional Touches

  • Add unique decorative items such as travel posters or local artwork to create a personalized and welcoming space.
  • Incorporate smart home features like security cameras, Nest thermostats, and smart locks to enhance safety and convenience.

Continuous Improvement

  • Be prepared to make ongoing improvements and adjustments to the decor and furnishings based on guest feedback and personal preferences.
Insider Tips

Discovering Fort Lauderdale: Top Attractions and Insider Tips for Your Guests

Top Local Attractions

Beaches and Waterways

  • Fort Lauderdale Beachfront: Enjoy 24 miles of beautiful beaches, perfect for sunbathing, snorkeling, and water activities.
  • Intracoastal Waterways: Explore the city's extensive waterways, often referred to as the “Venice of America,” by yacht, Water Taxi, paddleboard, or gondola.

Landmarks and Museums

  • Historic Stranahan House Museum: A historic home-turned-museum offering insights into the city's early days.
  • Museum of Discovery & Science: Features over 200 interactive exhibits, including flight simulations and live animal habitats.
  • Butterfly World: The world’s largest butterfly park, home to over 20,000 live butterflies.

Nature and Parks

  • Deerfield Island Park: Accessible by a free shuttle, this island park is great for spotting local flora and fauna.
  • Flamingo Gardens: A 60-acre park with large and old trees, fascinating wildlife, and a historic home-turned-museum.
  • Tall Cypress Natural Area: Ideal for bird lovers with Bird Walks available from September to June.

Shopping and Dining

  • Las Olas Boulevard: A vibrant shopping and dining destination with a variety of boutiques and restaurants.
  • Pompano Beach Fishing Village: A beachfront area for dining, shopping, and entertainment.

Unique Experiences

  • Bergeron Rodeo Grounds: Experience authentic rodeos and horse shows in Davie.
  • Yellow Green Farmers Market: A large market in Hollywood featuring crafts and artisanal goods from over 350 vendors.
  • FlowRider Surf Simulator at Margaritaville Hollywood Beach Resort: For adrenaline-seekers looking to try beachside surfing.

Insider Tips

Local Events

  • Downtown Hollywood Artwalk: Monthly art walks held on the third Saturday of each month.
  • MASS District Artwalk: Live music, street performances, and local artists come together on the last Saturday of the month.

Hidden Gems

  • Snake Warrior Island Park: Part of the Great Florida Birding and Wildlife Trail, significant for its archeological sites and Native American history.
  • Coral Springs Aquatic Complex: Offers a variety of aquatic activities and facilities.

Getting Around

  • Water Taxi: A convenient way to explore the city's waterways and access various attractions.

Exclusive Deals

  • Show Your Badge Pass: Sign up for this free pass to access exclusive deals at hotels, restaurants, shopping destinations, and attractions throughout Greater Fort Lauderdale.

By sharing these attractions and insider tips, you can help your guests make the most of their visit to Fort Lauderdale and enjoy a memorable stay.

Practical Tips

Practical Tips to Run a Successful Short-Term Rental Business in Fort Lauderdale, Florida

To ensure a smooth and profitable short-term rental business in Fort Lauderdale, several practical tips can make a significant difference. Here are some key strategies:

Noise Regulations and Guest Communication

Inform your guests about quiet hours and noise regulations to maintain a peaceful environment and avoid potential complaints or fines. Clearly outline these rules in your digital and physical house manual to set expectations from the outset.

Comprehensive House Manual

Create a detailed digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important information. This manual should cover everything from appliance usage to emergency contact details, ensuring guests have all the information they need at their fingertips.

Simplified Check-in Process

Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with clear instructions on how to access the property, and consider sending a welcome message with all the necessary details before their arrival.

Parking Instructions

Include detailed parking instructions in your house manual, accompanied by photos to help guests understand where and how to park. This can prevent confusion and potential issues with neighbors or local authorities.

By implementing these strategies, you can enhance the guest experience, reduce potential issues, and ensure your short-term rental business in Fort Lauderdale operates efficiently and successfully.

Local Vendors

Here is a brief list of house cleaning providers in the Fort Lauderdale, Florida area:

House Cleaning Providers

The Cleaning Authority - Fort Lauderdale

  • Offers comprehensive cleaning services, including house cleaning, green cleaning, apartment cleaning, move in/move out cleaning, and commercial cleaning.
  • Uses a Detail-Clean Rotation system for thorough cleaning.
  • Fully bonded and insured, with environmentally responsible cleaning products.

The Maids

  • Provides residential cleaning services focused on cleaning for health with a 22-Step Cleaning Process.
  • Services include house cleaning, deep cleaning, and disinfecting commonly touched areas.
  • Serves Fort Lauderdale, Weston, and Miramar.

eMaids

  • Offers professional house cleaning services, including everyday housekeeping, routine cleanings, deep cleaning, and office cleaning.
  • Maids are certified, insured, and bonded; they undergo a 5-day training and certification program.
  • Services areas such as Fort Lauderdale, Plantation, Sunrise, and Wilton Manors.

MaidPro Fort Lauderdale

  • Specializes in house cleaning services with a 49-Point Checklist™ to ensure thorough cleaning.
  • Offers customizable cleaning plans, including weekly, bi-weekly, monthly, or one-time cleanings.
  • Employees are background-checked, bonded, and insured.

My Cleaning Angel

  • Matches clients with local cleaners for various house cleaning services, including one-time cleaning, move in/move out cleaning, post construction cleaning, and recurring cleaning.
  • Offers easy online booking and payment options.
  • Also provides commercial and vacation rental cleaning services.
Management fees

Short-Term Rental Management Fees in Fort Lauderdale, Florida

In Fort Lauderdale, Florida, short-term rental management fees can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes comprehensive services such as guest communication, marketing, price optimization, and property maintenance, tends to be on the higher end of this spectrum, often around 12% to 15% or even up to 30% for premium packages.

Basic services, which may include only the essential management tasks like booking management and calendar updates, can be more affordable, starting at around 10% per booking. Additional fees may apply for extra services such as cleaning, laundry, repairs, and interior design, further customizing the cost based on the host's needs. Ensuring compliance with local regulations and licenses is also a crucial aspect of these management services, adding to the overall cost but providing peace of mind for property owners.

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Why choose RedAwning

RedAwning is a tech leader in full-service short-term rental management, powered by our exclusive, unmatched tools.
Other property managers
Cost
Starting at 10%
25-40%
Guest communications
5-15 mins / 24 hours a day
1 hour+
Host communications
Dedicated phone and text line with no time on hold
Chat bots, hold lines and email threads
Insurance
Robust liability and dwelling coverage for every reservation
Spotty coverage with low claim approval rates
Contract
No cancellation fees
No contract lock-in
Just 90 days notice to cancel
Cancellation penalties
Number of Channels Your Listing is On
50+
2-4

Experience in numbers

Rest well knowing your property is managed by an experienced team powered by world-class technology.
+10-30%
in gross revenue
4.8 stars
guest rating
14+ years
managing STRs

Short Term Rental Calculator

Find out how much your property in Lauderdale should generate as a short term rental and look at the performance of properties around yours.

35,000+ Properties
Hosts stay with RedAwning
1,000,000,00 Nights Booked
RedAwing knows how to get bookings
50+ Top Booking Channels
More than any other platform available

Furnishing checklist

This comprehensive checklist ensures that your rental is guest-ready with all the essentials to create a comfortable and memorable experience in Lauderdale.

Living Room
Seating: Sofa, armchairs, and ottomans
Coffee Table
Entertainment: Smart TV (with streaming apps) and remote control
Decor: Area rug, wall art, plants, and throw pillows
Lighting: Floor lamp or table lamps
Charging Stations: Power strips or outlets with USB ports
Bedrooms
Beds: High-quality mattress with mattress protector
Linens: At least two sets of sheets per bed
Pillows: Hypoallergenic pillows (2-4 per bed)
Blankets: Extra throw blankets or quilts
Nightstands: With lamps or charging docks
Closet or Storage: Hangers, dresser, or luggage rack
Blackout Curtains or Shades
Bathrooms
Towels: Bath towels, hand towels, washcloths (2 sets per guest)
Shower Curtain & Liner
Toiletries: Shampoo, conditioner, body wash, hand soap
Bathroom Essentials: Toilet paper, tissues, trash bin
Hairdryer
Mirror: Full-length or wall mirror
Dining Area
Dining Table: Seating for the maximum number of guests
Place Settings: Placemats or tablecloths
Centerpiece: Vase with flowers or decorative piece
Kitchen
Appliances: Refrigerator, microwave, toaster, coffee maker, kettle
Cookware: Pots, pans, baking trays
Utensils: Forks, knives, spoons, spatulas, tongs
Dinnerware: Plates, bowls, glasses, mugs (2 sets per guest)
Cutting Board & Knives
Basic Spices & Condiments: Salt, pepper, oil
Cleaning Supplies: Sponge, dish soap, paper towels, trash bags
Outdoor Space (if applicable)
Seating: Outdoor chairs, benches, or lounges
Table: For outdoor dining or drinks
Lighting: String lights or outdoor lanterns
Grill: With necessary utensils and instructions
Outdoor Trash Bin
Extras to Elevate Guest Experience
Welcome Basket: Snacks, water bottles, or wine
Guidebook: Local recommendations and house rules
Board Games or Books: Entertainment for guests
Umbrella & Flashlight
Iron & Ironing Board
Laundry: Washer, dryer, and detergent (if available)
Unlock your home’s potential
Schedule a call to learn more about Awning’s Short Term Rental Property Management Service.
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⇤ Airbnb Statistics for Florida