In Palm Coast, Florida, short-term rentals are thriving, with a median occupancy rate of 59%, an average daily rate of $178, and an annual revenue of $36K per typical host, making it a stable and profitable market for investors.
Thriving Short-Term Rental Market in Palm Coast, Florida
Palm Coast, Florida, is experiencing a robust short-term rental market, driven by its appealing coastal lifestyle and growing demand. According to recent data, short-term rentals in Palm Coast boast a median occupancy rate of 59%, indicating a strong and consistent demand for these properties.
The average daily rate for these rentals stands at $178, and a typical listing is booked for 215 nights per year, generating an average annual revenue of $36,000. With over 1,500 active listings across platforms like Airbnb and Vrbo, Palm Coast's short-term rental market is not only profitable but also stable, making it an attractive option for investors and hosts alike. This positive trend underscores the city's popularity as a vacation destination and its potential for continued growth in the short-term rental sector.
Title: Proposed Short-Term Rental Regulations in Palm Coast, Florida for 2024
Key Regulations
Registration and Fees
- Vacation Rental License: Operators must obtain a license to operate a short-term rental.
- Registration Fee: A $400 initial registration fee and a $200 annual renewal fee.
Occupancy
- Maximum Occupancy: Limited to 10 guests, with discussions to exclude younger children from the tally.
Safety and Operational Requirements
- Life Safety Standards: STRs must meet specific safety standards aligned with the Florida Building Code, including the presence of fire extinguishers, smoke detectors, and carbon monoxide detectors.
- Emergency Lighting: Installation of battery-powered emergency lighting lasting at least 90 minutes after power goes out.
Parking and Vehicles
- Parking Standards: All vehicles associated with the STR must be parked within the property’s driveway, with no parking on the sidewalk, street, or swale.
- Recreational Vehicles: Prohibition of recreational trailers or boats on-site, except for temporary loading, unloading, and cleaning.
Background Checks
- Background Checks for Renters: Background checks required for the primary renter, with the renter taking responsibility for ensuring no other occupants are sexual offenders or predators.
Compliance and Enforcement
- Local Representative: STR operators must have a local representative available 24/7 to respond to complaints within two hours.
- Compliance Monitoring: The City will monitor STRs for compliance and enforce penalties as necessary.
Other Requirements
- Noise Ordinance Compliance: Compliance with the city's noise ordinance.
- Solid Waste Handling: Proper waste management practices must be followed.
- City Inspections: Allowances for city inspections.
Exemptions
- Exemptions for Certain Properties: Apartment buildings, dwellings governed by a homeowner’s association or on-site property management, and homeowners who run their short-term rental while living in the house (if homesteaded) are exempt from certain aspects of the ordinance.
High-Revenue Neighborhoods for Airbnb in Palm Coast, Florida
Why Palm Coast is Appealing for Guests
Palm Coast, with its scenic charm, growing population, and proximity to popular tourist destinations like Daytona Beach and St. Augustine, presents an attractive market for Airbnb investors. Here are some of the top neighborhoods and areas that generate significant Airbnb revenue:
Top Neighborhoods and Areas
1. Washington Oaks Gardens State Park Area
- Appeal: This area is close to the Washington Oaks Gardens State Park, offering guests a mix of natural beauty, hiking trails, and historic gardens.
- Revenue Potential: Properties near this park benefit from the high demand for nature-based vacations and outdoor activities.
2. Gamble Rogers Memorial State Recreation Area
- Appeal: Located near the beach, this area provides easy access to water sports, beach activities, and scenic coastal walks.
- Revenue Potential: The combination of beach and recreational activities makes this area highly appealing, leading to higher occupancy rates and revenue.
3. Flagler Beach
- Appeal: Flagler Beach is known for its vibrant surf culture, beautiful beaches, and a variety of local restaurants and shops.
- Revenue Potential: Its popularity among surfers and beachgoers ensures a steady stream of guests, particularly during peak seasons.
4. Bulow Plantation Ruins Historic State Park Area
- Appeal: This historic site offers a unique blend of history and natural surroundings, attracting guests interested in both culture and outdoor activities.
- Revenue Potential: The historical significance and natural beauty of the area make it a sought-after destination, contributing to higher revenue.
5. Hammock Beach
- Appeal: Known for its luxurious amenities and beautiful beaches, Hammock Beach is a favorite among families and those seeking a relaxing getaway.
- Revenue Potential: The high-end amenities and beautiful beaches ensure a high demand for rentals, resulting in significant revenue for hosts.
6. Marineland Dolphin Adventure Area
- Appeal: This area is popular due to the Marineland Dolphin Adventure, a major attraction for families and animal lovers.
- Revenue Potential: The presence of this attraction drives tourism, making properties in this area highly profitable.
7. European Village
- Appeal: This area offers a unique European-themed shopping and dining experience, along with easy access to other local attractions.
- Revenue Potential: The blend of shopping, dining, and cultural experiences makes European Village a desirable location for guests.
Key Metrics
- Average Daily Rate: Around $178, with peaks in March and July.
- Occupancy Rate: A median occupancy rate of 59%, indicating steady demand throughout the year.
- Annual Revenue: Typical host income is around $36,000 per year, reflecting the profitability of these neighborhoods.
These neighborhoods in Palm Coast are highly appealing due to their unique attractions, natural beauty, and proximity to popular tourist destinations, making them ideal for generating significant Airbnb revenue.
Tips for Furnishing and Designing an Inviting Airbnb in Palm Coast, Florida
Essential Furniture and Layout
- Convertible Sofas and Multi-Purpose Furniture: Invest in convertible sofas or murphy beds to maximize sleeping spaces without sacrificing square footage, appealing to a wider range of guests.
- Comfortable Seating Areas: Include a sofa or seating area, dining table and chairs, and beds with quality mattresses to ensure guest comfort.
- Functional Storage: Provide dressers or wardrobes for clothing storage and nightstands with lighting to create a welcoming and practical space.
Kitchen Essentials
- Fully Equipped Kitchen: Ensure the kitchen is stocked with plates, bowls, glasses, utensils, cookware, a coffee maker, toaster or toaster oven, and basic cooking ingredients like salt, pepper, and oil.
- Appliances: Include a refrigerator, range, microwave, and optionally a dishwasher and washer/dryer to make the space convenient for guests.
Bathroom and Cleaning Supplies
- Bathroom Essentials: Stock the bathroom with towels, toilet paper, toiletries (shampoo, conditioner, body wash), extra toothbrushes and toothpaste, disposable razors, a hairdryer, shower curtain, and bathroom mat.
- Cleaning Supplies: Provide a vacuum cleaner, broom and dustpan, mop and bucket, all-purpose cleaner, disinfectant wipes, and trash cans with garbage bags to maintain cleanliness.
Electronics and Entertainment
- TV and Internet: Install a television with a remote control and ensure a reliable Wi-Fi connection. Consider adding cable or streaming subscriptions for entertainment.
- Workspaces: If applicable, include laptop-friendly workspaces to attract guests who need to work during their stay.
Safety and Security
- Safety Measures: Install smoke detectors, have a fire extinguisher on hand, and maintain a first aid kit to ensure guest safety.
Home Decor and Aesthetics
- Local Touches: Incorporate elements that reflect Palm Coast's unique style, such as coastal-themed decor, to create an inviting and authentic atmosphere.
- Artwork and Plants: Add artwork and indoor plants to enhance the aesthetic appeal of the space.
- Cozy Accents: Use cozy blankets or throws to make the space feel warm and welcoming.
Guest Information and Amenities
- Welcome Basket: Consider providing a welcome basket with snacks and beverages to make guests feel welcome.
- Information Booklet: Create an information booklet with house rules, local attractions, and contact details, including emergency contacts.
- Popular Amenities: Include amenities that are highly sought after in Palm Coast, such as private pools, ocean views, proximity to the beach, and outdoor spaces like BBQ areas and screened lanais.
Maintenance and Upkeep
- Regular Maintenance: Perform regular maintenance to prolong the life expectancy of your property. This includes pool and hot tub maintenance, lawn care, and cleaning services.
- Seasonal Updates: Update your decor and furnishings seasonally to keep the space fresh and appealing to guests throughout the year.
By following these tips, you can create an inviting Airbnb space in Palm Coast, Florida, that reflects the city's unique style and meets the expectations of your guests.
Discovering Palm Coast, Florida: Local Attractions and Insider Tips
Local Attractions
Beaches and Coastal Activities
- Flagler Beach: Known for its fishing pier, surf rentals, delicious restaurants, and the Flagler Beach Historical Museum. Enjoy sunrise over the Atlantic, build sandcastles, or simply relax.
- Jungle Hut Park: A local favorite with soft sand, but be cautious of large rocks and strong undercurrents. Features paved parking, public restrooms, and a dune walkover for spotting shorebirds.
- Old Salt Park: Ideal for watching marine life, though waters can be rough. Pet-friendly and great for fishing.
- MalaCompra Park: Another beach with rocky portions, dog-friendly, and perfect for a unique beach experience.
Parks and Nature Reserves
- Washington Oaks Gardens State Park: Offers both formal gardens designed by Louise Young and a rugged beach with coquina rock formations. A must-visit for its diverse landscapes.
- Princess Place Preserve: A 1,500-acre preserve with hiking and equestrian trails, an historic lodge, and the first in-ground swimming pool in Florida.
- St. Joe Walkway: Part of the Palm Coast Linear Park, connecting to the Intracoastal Waterway. Great for birding and wildlife viewing along the Great Florida Birding Trail.
Unique Experiences
- Equestrian Adventures of Florida: Guided horseback tours along the beach or nature trails. A unique way to explore Palm Coast’s geography and environment.
- Tropical Kayaks: Rent kayaks or paddleboards to explore Palm Coast’s waterways, canals, and marshes. Spot manatees, dolphins, and rare bird species.
- Marineland Dolphin Adventure: Swim with dolphins, take the "Behind the Seas" tour, and interact with these friendly mammals in various activities.
Cultural and Historical Sites
- Bulow Plantation Ruins: Explore the remnants of one of the largest plantation systems in Northeast Florida, dating back to the early 1800s.
- Flagler Beach Historical Museum: Learn about the history of the area, including famous aviators and astronauts who visited.
- Old Brick Road: A 10-mile stretch of the original Dixie Highway, nearly unchanged since 1914.
Arts and Entertainment
- Flagler Auditorium, Flagler Playhouse, and City Repertory Theatre: Enjoy musicals, theatricals, and outdoor concerts in these local venues.
- Local Art Galleries: Meet local artists and purchase unique souvenirs. Look out for larger-than-life wood sculptures and other local art pieces.
Insider Tips
Best Times to Visit
- Sea Turtle Nesting Season: From May to October, witness sea turtles making their way to the water. Follow Flagler Turtle Patrol for public nest evaluation announcements.
Hidden Gems
- Cinnamon Beach: One of the best spots for beachcombing, where you can find rare sea glass and other treasures.
- European Village: A pedestrian-friendly area with cute shops, charming cafes, and delicious restaurants.
Safety and Precautions
- Beach Safety: Be cautious of large rocks and strong undercurrents at beaches like Jungle Hut Park and Old Salt Park.
Local Events
- Whale Watching: From December to March, take advantage of the many spots for whale watching, including viewfinders along the Flagler Beach Pier.
- Flagler County Historic Bus Tour: Discover fascinating historical sites and learn about the area’s rich history.
By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to Palm Coast, Florida.
Practical Tips to Run a Successful Short-Term Rental Business in Palm Coast, Florida
To ensure a smooth and profitable short-term rental business in Palm Coast, Florida, several practical tips can be implemented. First, it is crucial to address noise regulations by informing guests about quiet hours to maintain harmony with the neighborhood. This can be done through clear communication in the rental listing and a welcome message upon arrival.
Creating a comprehensive digital and physical house manual is also essential. This manual should include detailed instructions on how to use appliances, Wi-Fi passwords, and other important information about the property. This helps in reducing the number of guest inquiries and ensures a hassle-free stay.
Simplifying the check-in process is another key aspect. Utilizing smart locks eliminates the need for physical key exchanges, making the arrival process seamless. Additionally, providing parking instructions with photos can help guests navigate the property easily, reducing potential issues and complaints.
By adhering to these tips, you can enhance the guest experience, comply with local regulations, and ultimately increase the success and profitability of your short-term rental business in Palm Coast.
Here is a brief list of house cleaning providers in Palm Coast, Florida:
House Cleaning Services in Palm Coast, FL
eMaids of Volusia County
- Offers hourly cleanings, deep cleanings, and various other house cleaning services.
Tina Maids
- Provides one-time cleanings, recurring cleanings, post-construction cleaning, and move in/move-out cleaning.
Palm Maids
- Specializes in residential cleaning, Airbnb cleaning, and vacation rental cleaning.
Merry Maids of Palm Coast
- Offers professional cleaning services for bathrooms, kitchens, and more with thoroughly trained staff.
Additional Resources
- Care.com also lists multiple house cleaning services in Palm Coast, FL, with options starting at $19.62/hr and an average rating of 4.9 out of 5 stars based on 62 reviews.
Short-Term Rental Management Fees in Palm Coast, Florida: A Range of Services and Costs
In Palm Coast, Florida, the management fees for short-term rentals can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management companies, such as MasterHost and GoSummer, offer comprehensive services including guest communication, marketing, maintenance, and key exchange, which generally fall on the higher end of the fee spectrum, often between 15% to 30% per booking.
Basic services, which may include only the essential management tasks, can be more affordable, starting at around 10% per booking. Additionally, hosts may incur extra fees for cleaning, repairs, and design services, which are often charged separately. For instance, GoSummer calculates its fee after removing the cleaning fee, while MasterHost includes various additional services like Airbnb listing creation, price optimization, and guest screening in their packages.
Overall, the choice of management service and the associated fees depend on the host's specific needs and the level of involvement they desire in managing their short-term rental properties.