Miramar, Florida, presents a promising opportunity for short-term rental investments in 2024, with a stabilized market, increasing rental demand driven by young professionals and families, and relatively affordable property prices compared to other parts of South Florida.
Thriving Short-Term Rental Market in Miramar Beach, Florida
Miramar Beach, Florida, is experiencing a robust and lucrative short-term rental market, making it an attractive destination for both investors and vacationers. During the peak summer months, particularly in July, the average daily rate (ADR) for Airbnb rentals soars to as high as $429, with an average ADR of $377.3 throughout the year.
The occupancy rates are equally impressive, with a maximum occupancy rate of 92% in July and an average annual occupancy rate of 65%. These figures indicate a high demand for short-term rentals, driven by the area's stunning beaches, vibrant tourist scene, and a wide range of recreational activities. With average monthly revenues reaching up to $10.7K in July, Miramar Beach presents a compelling opportunity for investors looking to capitalize on the thriving short-term rental market.
Short-Term Rental Regulations in Miramar, Florida for 2024
Licensing and Registration
- Registration Requirement: Short-term rental properties must be registered with the Miramar Police Department for a Bed & Breakfast, Short-Term Rentals, or Vacation Rentals license.
- Business Tax Receipt (BTR): Obtain a Business Tax Receipt (BTR) from the city of Miramar.
- Resort Tax Certificate: Obtain a Resort Tax Certificate.
Required Documents
- Identification: Provide a photocopy of your Florida Driver's License or Florida ID Card.
- Property Registration: Register the rental property with the Miramar Police Department.
- Zoning Certificate: Obtain a city-issued zoning certificate of use and comply with all zoning and land-use regulations.
Fees and Taxes
- Licensing Fees: Pay the required licensing fees as determined by the city.
- Tourist Development Tax: Pay the 6% Broward County Tourist Development Tax.
- Florida Transient Tax: Pay the 6% Florida Transient Tax.
- Florida Discretionary Sales Surtax: Pay the 0.5-1.5% Florida Discretionary Sales Surtax.
Operational Requirements
- Maximum Occupancy: Comply with the state regulation that the maximum overnight occupancy does not exceed two persons per bedroom, plus an additional two persons in one common area; or more than two persons per bedroom if there is at least 50 square feet per person, plus an additional two persons in one common area.
- 24/7 Contact: Ensure a responsible party is available by telephone 24 hours a day, seven days a week, to respond to complaints or emergencies related to the vacation rental.
Enforcement and Penalties
- Fines for Non-Compliance: Owners could be fined up to $500 for registration issues or violations of local ordinances.
- Registration Suspension: Vacation rental registration can be suspended for up to 60 or 90 days depending on the number and frequency of violations.
Additional Compliance
- Signage: Display a sign with the name, emergency contact phone number, and the short-term vacation rental certificate number, ensuring it is legible from the public right-of-way.
- Regular Monitoring: The responsible party must monitor the short-term vacation rental unit at least once weekly to ensure continued compliance with regulations.
State and Local Coordination
- State Regulations: Comply with statewide regulations, including those related to hygiene, sanitation, and general safety as outlined by the Florida Department of Business and Professional Regulation (DBPR).
- Local Ordinances: Adhere to specific local ordinances and regulations set by the city of Miramar, which may include additional requirements beyond state regulations.
High-Revenue Airbnb Neighborhoods in Miramar, Florida: Why They Are Appealing to Guests
While the sources provided do not specify particular neighborhoods within Miramar, Florida, but rather discuss the broader area of Miramar and its appeal, here is a generalized overview of why Miramar as a whole is attractive for Airbnb investments and the factors that contribute to its revenue potential.
Miramar, Florida: Key Factors and Attractions
High Demand and Occupancy Rate
- Miramar boasts a median occupancy rate of 61%, indicating a strong demand for short-term rentals.
Average Daily Rate and Revenue
- The average daily rate is $106, with an average annual revenue of $23K per typical listing.
Local Attractions
- Miramar's appeal is enhanced by its proximity to various attractions such as:
- Miramar Regional Park
- C.B. Smith Park
- Hard Rock Stadium
- Pembroke Gardens
- Sawgrass Mills
- Hollywood Beach
- Aventura Mall
- Gulfstream Park
- Las Olas Boulevard.
Year-Round Appeal
- The area's mild winter climate and diverse attractions ensure a steady stream of guests throughout the year, making it a lucrative investment.
Why Miramar is Appealing to Guests
- Year-Round Climate: The mild winters attract visitors seeking a warm retreat, ensuring a steady flow of guests beyond the typical summer peak season.
- Diverse Attractions: The presence of parks, shopping centers, sports venues, and beaches caters to a wide range of traveler preferences, from families to business travelers.
- Accessibility: Miramar's strategic location makes it easily accessible, further increasing its appeal to potential guests.
- Stable and Profitable Market: The stability of the housing market and the potential for higher cash flow compared to traditional rentals make Miramar an attractive option for both investors and guests.
While specific neighborhoods within Miramar are not detailed, the overall area's strong demand, high occupancy rates, and diverse attractions make it an excellent choice for Airbnb investments.
Creating an Inviting Airbnb in Miramar Beach, Florida: Design and Furnishing Tips
Embrace the Coastal Style
- Incorporate soothing designer colors and a coastal feel into your decor to align with Miramar Beach's unique aesthetic. Use light, airy colors and natural textures like wood and wicker.
Luxury and Relaxation Amenities
- Include amenities such as pools, hot tubs, and BBQ areas to provide a resort-like experience. These features are highly desirable and can attract higher occupancy rates.
Practical Comforts
- Ensure the property is equipped with practical amenities like washers, dryers, and full-size kitchens with new appliances. These are particularly important for longer stays and families.
Energy Efficiency and Sustainability
- Incorporate energy-efficient appliances, LED lighting, and smart thermostats to reduce the property’s carbon footprint and operational costs. Consider water conservation measures like low-flow fixtures and drought-resistant landscaping.
Smart Home Features
- Integrate smart home technology such as keyless entry, smart locks, and remote monitoring systems to enhance guest convenience and security. This also allows for better property management and energy monitoring.
Attention to Detail in Each Room
- Entryway: Make a bold design statement with peel-and-stick wallpaper or hanging baskets with easy-to-maintain plants. This sets the tone for the rest of the property.
- Living Room: Use open concept designs with full-size kitchens and dining areas. Add comfortable seating and flat-screen TVs to create a welcoming space.
- Bedrooms: Add wallpaper to headboard walls and use large velvet curtain panels for maximum light control. Update lamps, add rugs, and upgrade furniture to make the rooms more photographable and inviting.
Outdoor Living
- Enhance the outdoor living area with amenities like heated pools, Jacuzzis, and outdoor kitchens. These spaces should be well-maintained and offer a comfortable extension of the indoor living area.
Local Touches
- Incorporate local elements such as beach-themed decor and artwork that reflect the unique charm of Miramar Beach. This helps guests feel connected to the local culture and environment.
Guest-Centric Design
- Tailor the design to meet the needs of your target audience. For family-friendly rentals, include amenities like high chairs, travel cribs, and strollers. For golf enthusiasts, highlight proximity to golf courses like Seascapes 18-hole golf course.
By following these tips, you can create an inviting and stylish Airbnb in Miramar Beach that reflects the city's unique charm and meets the expectations of your guests.
Discover Miramar, Florida: Local Attractions and Insider Tips
Local Attractions
Cultural and Arts
- Miramar Cultural Center and ArtsPark: A vibrant destination in the heart of Miramar Town Center, featuring world-class performances, the Ansin Family Art Gallery, and a beautiful botanical garden.
- Miramar Branch Library Education Center: Offers a vast collection of media, video games, a 100-seat multi-purpose room, and various study and computer facilities.
Parks and Recreation
- Miramar Regional Park: A 173-acre park with an amphitheater seating 5,000 people, lakes, fountains, and various recreational amenities.
- Miramar Pineland Natural Area: A 157-acre urban park with restored wetlands, trails, boardwalks, and a splash pad for kids.
- Snake Warrior Island Natural Area: A smaller but geographically diverse park with historical significance and a variety of bird species.
Sports and Fitness
- Ansin Sports Complex: A 24-acre state-of-the-art facility with a certified running track, football, soccer, and basketball courts, and a community center with various amenities.
Family-Friendly Activities
- Monster Mini Golf: An indoor, glow-in-the-dark mini-golf course with an arcade and other family-friendly activities.
Insider Tips
Getting Around
- Miramar is ideally located between Miami and Fort Lauderdale, with easy access to airports and seaports via multiple nearby highways.
Dining
- Enjoy a diverse range of cuisines including Italian at La Famiglia, Cuban at La Carreta, Argentinian at Miga’s, and Asian options at Lin’s Asian Cuisine and Silver Spoon Thai & Sushi.
Events and Festivals
- Check the event calendar for the Miramar Cultural Center and ArtsPark, which hosts local, regional, and national acts, as well as events like the UniverSoul Circus and the Jazz in the Gardens Music Festival.
Community Activities
- Attend community barbecues and other local events, which are a great way to connect with the community and experience the city's multicultural diversity.
Practical Information
- The Miramar Regional Park Amphitheater is a weather-friendly venue, making it perfect for year-round outdoor performances.
- Take advantage of the city's Comprehensive Land Use Plan, which ensures orderly development and maintains a balance of developed and undeveloped land.
By sharing these attractions and tips, you can help your guests make the most of their visit to Miramar, Florida, and experience the city's unique blend of culture, recreation, and community spirit.
Practical Tips to Run a Successful Short Term Rental Business in Miramar, Florida
To ensure the success and smooth operation of a short-term rental business in Miramar, Florida, several practical tips can be implemented:
Noise Regulations and Guest Communication
Inform guests about quiet hours and noise regulations to maintain a peaceful environment for both the guests and the neighbors. This can be included in the house manual and communicated through pre-arrival messages.
Creating a Comprehensive House Manual
Develop both digital and physical house manuals that include essential instructions, Wi-Fi passwords, and other important details about the property. This helps guests navigate the property easily and reduces the number of inquiries.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide clear parking instructions accompanied by photos to help guests find and use the designated parking areas without confusion.
Compliance with Local Regulations
Ensure compliance with Miramar's short-term rental regulations, including obtaining a Business Tax Receipt (BTR) certificate, registering the property with the Miramar Police Department, and paying the required tourist taxes.
By implementing these strategies, you can enhance the guest experience, reduce potential issues, and maximize the efficiency and profitability of your short-term rental business in Miramar, Florida.
Here is a brief list of house cleaning providers in Miramar, Florida:
House Cleaning Providers in Miramar, FL
eMaids
- Offers residential, office, vacation rental, post-construction, and move-in/move-out cleaning services.
- Maids are trained, certified, insured, and bonded.
- Provides a 100% satisfaction guarantee.
My Cleaning Angel
- Matches clients with local cleaners for various house cleaning services.
- Easy and fast online booking available.
Paradise Green Clean
- A family-owned, licensed, and insured cleaning company using eco-friendly products.
- Offers contract-free, flat-fee services tailored to individual needs.
- Provides free and fast estimates and an online booking portal.
Keen Maids
- Tailors house cleaning services to clients' needs, budget, and schedule.
- Offers high-quality cleaning services with a focus on customer satisfaction.
Other Providers
- There are additional house cleaning services listed on Angie's List, which includes various local cleaners and companies in Miramar, FL.
Miramar, Florida: Understanding Short-Term Rental Management Fees
In Miramar, Florida, the fees for short-term rental property management 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, and property maintenance, tends to be on the higher end of this spectrum, often starting at around 20% of the revenue.
Basic or partial management services, which may require more effort from the property owner in coordinating tasks like cleaning, restocking supplies, and maintenance, are generally less expensive, starting from around 10%. Additionally, property owners may incur extra fees for services like cleaning, repairs, or professional design and furnishing of the rental property. These fees can add to the overall cost but are often necessary to ensure the property remains attractive and well-maintained for guests.