The short-term rental market in Marathon, Florida is thriving, with an average 59% occupancy rate, a daily rate of $518, and monthly revenue of $63,630, indicating strong demand and revenue growth over the past year.
Thriving Short-Term Rental Market in Marathon, Florida
Marathon, Florida, continues to excel as a prime destination for short-term rentals, boasting a robust and attractive market for both hosts and investors. The city's tropical climate and rich array of amenities, including stunning beaches, world-class fishing, and the historic Seven Mile Bridge, drive a high demand for vacation rentals. With a median occupancy rate of 59% and an average daily rate of $518, Marathon's short-term rental market demonstrates strong performance.
During the peak season, which spans from December to April, hosts can expect even higher occupancy rates and the ability to command higher rental prices, making it an ideal time to maximize revenue. Even in the off-peak season, savvy hosts can attract budget-conscious travelers and long-term renters, ensuring a consistent income stream throughout the year. This balance of high demand and flexible marketing opportunities makes Marathon an excellent choice for those looking to invest in the short-term rental market.
Short-Term Rental Regulations in Marathon, Florida for 2024
Licensing and Registration
- Florida Department of Business and Professional Regulation (DBPR) License: Required for properties rented more than three times a year for less than 30 days or publicly advertised for such use.
- City of Marathon Vacation Rental License: Necessary for operating a vacation rental in Marathon, with specific documentation and steps to follow for application.
Rental Duration
- Minimum and Maximum Stay: Rentals must be between 7 and 28 days.
Occupancy Limits
- Maximum Occupancy: Calculated as the number of bedrooms times two plus two additional occupants. For example, a two-bedroom home can accommodate up to six people.
Tenant Notification
- Written Lease Requirements: The lease must notify tenants of city regulations, their responsibility for compliance, and the consequences of violations, including termination of the rental lease, eviction, or fines.
Parking Regulations
- Designated Parking: Vehicles, including boat trailers, must be parked within the property’s designated spaces between 7:00 AM and 10:00 PM. Street parking is allowed only if it is common practice in the area.
Compliance with State and Local Requirements
- State Sales Tax: A 6% state sales tax must be collected from guests and remitted to the Florida Department of Revenue.
- Monroe County Tourist Development Tax: An additional 5% tax imposed by Monroe County, collected in addition to the state sales tax.
- Monroe County Business Tax: Property owners must register and obtain a business tax receipt from Monroe County.
Safety and Health Regulations
- Fire and Life Safety Inspections: Required for obtaining and renewing a Special Vacation Rental Permit.
Violations and Penalties
- Fines: Up to $500 per day, per unit, per violation. Properties with three violations within 12 months will have their license suspended for a year, and repeat offenders may face license revocation.
Advertising Compliance
- Compliance with Local Codes: All advertising must reflect the minimum stay requirements and monthly rates for rental or lease, as specified by local codes.
Manager Requirements
- Certified Vacation Rental Agent: Required for managing vacation rental properties in Marathon.
- Special Vacation Rental Manager License: Necessary for all vacation rental units, issued by the Planning & Environmental Resources Department.
High-Revenue Neighborhoods for Airbnb in Marathon, Florida
1. Sombrero Beach Neighborhood
- Appeal: This neighborhood is highly sought after due to its proximity to Sombrero Beach, one of the best beaches in the Florida Keys. Properties here often feature waterfront views, in-ground pools, and tiki huts, making them ideal for family vacations and weekend getaways.
- Revenue Potential: The average annual revenue for properties in this area can exceed $143,000, driven by high occupancy rates and premium nightly rates.
2. Little Venice
- Appeal: Located in the heart of Marathon, Little Venice offers easy access to beaches, state parks, restaurants, shops, and local attractions like the 7 Mile Bridge and the Florida Keys Aquarium Encounters. Properties here are modern, comfortable, and often come with amenities like outdoor showers, bikes, and kayak access.
- Revenue Potential: The central location and variety of amenities make these properties attractive to a wide range of guests, contributing to a steady and lucrative rental income.
3. Key Colony Beach
- Appeal: This neighborhood is known for its beautiful corner lots with exceptional views and ocean breezes. Properties here often include dockage for boats, cabana clubs, and are within a short walk to Sunset Park. The area is perfect for those seeking a relaxing and picturesque getaway.
- Revenue Potential: The high demand for these well-appointed properties, especially those with dockage and club amenities, drives up the revenue potential, making Key Colony Beach a lucrative area for Airbnb investors.
4. Grassy Key
- Appeal: For guests seeking a quiet escape, properties on Grassy Key offer a serene atmosphere away from the hustle and bustle. These secluded retreats provide a peaceful and natural setting that is highly appealing to those looking for a tranquil vacation.
- Revenue Potential: While the revenue might be slightly lower compared to more central locations, the unique appeal of these properties ensures a consistent and loyal guest base, contributing to a stable income stream.
5. Coral Lagoon and Marina Area
- Appeal: This area is a fisherman's paradise and offers recently renovated homes with stylish interiors and unbeatable locations. Properties here are close to the marina, making them ideal for fishing enthusiasts and families looking for a relaxing getaway.
- Revenue Potential: The combination of new furnishings, appliances, and the prime location near the marina increases the appeal and revenue potential of these properties, attracting a variety of guests throughout the year.
Tips for Furnishing and Designing an Inviting Airbnb in Marathon, Florida
1. Define Your Property's Aesthetic
- Adopt a local or nautical theme to enhance the tropical vibe of Marathon. This can include decor elements that reflect the city's coastal and tropical environment.
2. Know Your Audience
- Tailor your furnishings and styling to your target demographic. For example, families will appreciate ample beds and flexible sleeping arrangements, while couples might prefer a more romantic and intimate setting.
3. Set a Budget
- Establish a budget to avoid unnecessary debt. Create checklists for must-have and nice-to-have items to prioritize your spending.
4. Optimize Your Space
- Ensure you do not overcrowd rooms. Use your floor plan to determine what each space can accommodate comfortably.
5. Choose Furniture That is Easy to Clean
- Select furniture that is easy to maintain and clean to ensure high cleanliness standards and reduce the burden on your cleaning crew.
6. Incorporate Tech-Friendly Features
- Equip your property with smart home features like Wi-Fi thermostats, smart locks, and streaming services to appeal to tech-savvy travelers.
7. Maximize Outdoor Spaces
- Add attractive outdoor features such as patios, barbecue areas, or even a small dock if the property is waterfront. This enhances the appeal of your property and leverages Marathon's outdoor lifestyle.
8. Highlight Local Flavor in Your Decor
- Incorporate elements that reflect Marathon’s local culture and environment. This can include decor items, artwork, and descriptions that mention local attractions and experiences.
9. Ensure Adaptability for Various Guests
- Provide flexible sleeping arrangements and privacy options to accommodate different types of guests, from families to couples or solo travelers.
10. Use Engaging Descriptions and Storytelling
- Weave in aspects of Marathon’s local culture and environment into your property descriptions. Highlight unique features and create a narrative around your Airbnb listing to engage potential guests.
11. Consider Location-Specific Amenities
- Reflect the location of your property in your decorating style. For example, providing extra beach towels and beach gear for listings close to the beach can be highly appealing.
12. Maintain a Consistent Theme or Color Palette
- Choose a theme or color scheme that aligns with the tropical and coastal vibe of Marathon. Use social media platforms like Pinterest and Instagram for inspiration.
Discover Marathon, Florida: Local Attractions and Insider Tips
Top Attractions
1. The Old Seven Mile Bridge
- Bike, walk, or rollerblade along this 2.2-mile section of the historic bridge, now a linear park. Enjoy panoramic ocean views and spot marine life like nurse sharks.
2. Turtle Hospital
- Visit this unique hospital dedicated to the rehabilitation of sea turtles. Guided tours provide insights into the conservation efforts.
3. Curry Hammock State Park
- Explore the largest uninhabited land between Key Largo and Big Pine Key. Features include a 1.5-mile nature trail, picnic areas, and kayak rentals. It's also a popular spot for camping.
4. Sombrero Beach
- Spend a day at this beautiful beach, perfect for relaxation and water activities. It's a great spot for families and beachgoers.
5. Pigeon Key
- Learn about the history of the Overseas Railway and see preserved buildings from the early 20th century. This tiny island offers a glimpse into the past.
6. Crane Point Museum and Nature Center
- Discover 63 acres of hardwood hammock, nature trails, bird rescue centers, and marine touch tanks. A great place for nature enthusiasts.
7. Dolphin Research Center
- Interact with dolphins and learn about marine mammal conservation. A fun and educational experience for all ages.
8. Marathon Wild Bird Center
- Visit this center dedicated to the care and rehabilitation of wild birds. A great spot for birdwatchers and nature lovers.
9. Keys Fisheries
- Enjoy fresh seafood, especially the stone crab claws during season (mid-October to mid-May). A casual dining experience with a take-out window.
10. Dockside Bar & Grill
- Catch live music and enjoy a meal at this waterfront restaurant, a local favorite for entertainment and dining.
Insider Tips
Trolley Tour
- Start your trip with a 90-minute trolley tour to get an overview of Marathon's must-see spots and hidden gems.
Kayaking and Snorkeling
- Explore the mangroves and marine life with clear kayak tours or snorkeling trips. Popular spots include Sugarloaf Key and Spirit Snorkeling.
Wakeboarding and Water Sports
- Visit Keys Cable Park for wakeboarding and other water sports. Also, consider fishing charters and sailing activities.
Helicopter Tours
- Take a helicopter tour for a unique aerial view of the Florida Keys, including Bahia Honda State Park and Pigeon Key.
Local Events and Festivals
- Check the local event calendar for festivals like Fantasy Fest, seafood festivals, and events honoring Ernest Hemingway. Plan your visit to coincide with these events for added fun.
Fred the Tree
- When driving over the Seven Mile Bridge, look out for Fred the Tree, an Australian Pine tree growing on the old railroad bridge, a local phenomenon.
Additional Tips
- Bike Rentals: Rent bikes to explore the area, including the Grassy Key Trail and Coco Plum Beach.
- Beach Activities: Enjoy beach soccer, picnics, and other activities at Sombrero Beach and other local beaches.
- Nature Trails: Explore the nature trails at Curry Hammock State Park and Crane Point Hammock.
By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to Marathon, Florida.
Practical Tips to Run a Successful Short-Term Rental Business in Marathon, Florida
To ensure the success of your short-term rental business in Marathon, Florida, several practical tips can make a significant difference in guest satisfaction and compliance with local regulations.
Noise Regulations and Quiet Hours
Inform your guests about quiet hours to maintain a peaceful environment for both your guests and neighboring residents. Clearly outline these hours in your house manual and provide polite reminders to respect the local noise ordinances.
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 cover local attractions, dining recommendations, and unique experiences available in Marathon.
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, along with photos of the entrance and any specific steps they need to follow.
Parking Instructions
Include clear parking instructions with photos in your house manual to avoid any confusion. This is particularly important in areas where parking can be limited or has specific regulations.
By implementing these strategies, you can enhance the guest experience, ensure compliance with local regulations, and maintain a smooth and efficient operation for your short-term rental business in Marathon, Florida.
Here is a brief list of house cleaning, repair, or maintenance providers in Marathon, Florida:
House Cleaning Services
Maid By The Sea Cleaning
- Provides cleaning services for vacation rentals, yachts, and private homes in Key West and the Lower Florida Keys, including Marathon.
- Offers customized cleaning schedules, advanced cleaning products, and a focus on hygiene.
Barbara Sanchez Cleaning Service
- Located at 265 116th St, Ocean, Marathon, FL 33050.
- Contact: 305-766-0819 or 305-924-0179.
Care.com Cleaning Services
- Connects homeowners with local cleaning professionals in Marathon, FL.
- Average cost of $38.50 per hour as of November 2024.
Other Cleaning Services
Top Rated Cleaners on Angi
- A list of top-rated cleaning services in Marathon, FL, with real reviews and ratings available.
Short-Term Rental Management Fees in Marathon, Florida: A Comprehensive Guide
In Marathon, Florida, short-term rental management fees can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level and scope of services provided. Full-service management companies, such as Marathon Florida Rentals, Awning, and Keys Ocean Vacation Rentals, which handle everything from guest communication and marketing to maintenance and repairs, usually charge fees on the higher end of this spectrum, often starting at around 15% to 20% of the revenue.
Basic services, which might include only the essentials like booking management and guest correspondence, may incur lower fees. Additionally, property owners should be aware of potential extra fees for services such as deep cleaning, routine maintenance, and design or furnishing enhancements. These additional costs can vary based on the size and type of the property, as well as the specific requirements of the owner.