The short-term rental market in Saint Petersburg, Florida, is thriving, characterized by a healthy average Airbnb occupancy rate of approximately 70%, higher daily rates during peak seasons, and strong annual yields of around 8-10%.
Thriving Short-Term Rental Market in Saint Petersburg, Florida
Saint Petersburg, Florida, is experiencing a robust and vibrant short-term rental market, making it an attractive destination for both travelers and investors. The city boasts an impressive average Airbnb occupancy rate of approximately 70%, with peak seasons such as summer and major festivals seeing occupancy rates surge to as high as 80% or more.
The average daily rate for an Airbnb rental in Saint Petersburg is around $150, and this figure can increase by up to 30% during high-demand periods, highlighting the potential for significant revenue boosts for property owners. With a strong year-round appeal to travelers and a healthy occupancy rate even in off-peak seasons, Saint Petersburg offers a reliable and lucrative environment for short-term rental investments.
Short-Term Rental Regulations in St. Petersburg, Florida for 2024
Rental Frequency and Duration Restrictions
- Properties in St. Petersburg are limited to hosting short-term rentals up to three times within any consecutive 365-day period, except in certain zoning districts where hotel or motel use is permissible or with a special approval.
Zoning Requirements
- Short-term rentals are not permitted in Residential Traditional (RT) and Residential Suburban (RS) zones.
- Allowed in Downtown Center (DC) and Commercial General (CG) zones.
- Properties in historic districts or with landmark status may have additional requirements.
- Restrictions apply in coastal high-hazard areas or flood zones.
Registration and Licensing
- Hosts must obtain a Business Tax Certificate Receipt from the City of St. Petersburg.
- A Florida Department of Revenue certificate of registration for collecting and remitting sales taxes is required.
- A Florida Division of Hotels and Restaurants license for sanitation and safety may be necessary if renting out two or more units.
Property Registration
- All short-term rental properties must be registered with the local authorities for inventory maintenance and oversight.
Code Enforcement and Safety Standards
- Properties must meet safety requirements such as installing smoke detectors, carbon monoxide detectors, and having clear escape routes.
- Code enforcement officers conduct inspections to ensure compliance with safety and quality standards.
Occupancy Limits
- Maximum occupancy is capped at 2 people per bedroom, plus 2 additional people per property, up to a maximum of 10 people total.
Tax Obligations
- Hosts must collect the Tourist Development Tax from guests and remit it to the local government.
Compliance and Penalties
- Non-compliance can result in fines, suspension of license, or permanent revocation of the right to operate.
- The city is considering implementing "super fines" up to $10,000 per violation for repeat offenders.
Additional Regulations
- Properties in certain zones, such as Coastal Islands Overlay districts, may prohibit short-term rentals entirely.
- Neighbors can report suspected violations, which are then investigated by code enforcement officers.
Top Neighborhoods for Airbnb Revenue in Saint Petersburg, Florida
1. Southwest St. Petersburg
- Average Revenue: $40.5K per year
- Average Daily Rate: $237.1 per night
- Average Occupancy Rate: 60%
- This neighborhood is appealing due to its vibrant and diverse atmosphere, blending residential charm with urban convenience. It is well-connected to major highways and public transportation, making it easy for guests to access other parts of the city. The area's proximity to the Grand Central District and its mix of historic bungalows, mid-century modern homes, and newer construction add to its allure.
2. Bay Pines
- Average Revenue: $54.8K per year
- Average Daily Rate: $286.1 per night
- Average Occupancy Rate: 66%
- Bay Pines is attractive for its serene and welcoming community, proximity to the Gulf of Mexico, and excellent healthcare facilities. Although public transportation is limited, its easy access to other parts of St. Petersburg and the Tampa Bay area via I-275 makes it a desirable location for guests.
3. Holiday Park
- Average Revenue: $34.1K per year
- Average Daily Rate: $204.8 per night
- Average Occupancy Rate: 60%
- Holiday Park is appealing due to its convenient location, just minutes from downtown St. Petersburg, and its affordable home prices. The neighborhood offers easy access to main thoroughfares and public transportation, and its well-maintained homes and quiet streets create a welcoming atmosphere for visitors.
4. Historic Old Northeast
- While specific revenue data is not provided for this neighborhood, it is highly rated by guests for its location and amenities.
- This area is popular for its walking distance to vibrant downtown St. Petersburg, waterfront parks, restaurants, museums, cafes, bars, and galleries. The historic charm and quiet alleys make it an attractive choice for those seeking a central yet peaceful stay.
Each of these neighborhoods offers a unique blend of convenience, charm, and access to St. Petersburg's attractions, making them highly appealing to Airbnb guests.
Creating an Inviting Airbnb in Saint Petersburg, Florida: Design and Furnishing Tips
Understand the Local Aesthetic
- Embrace the laid-back, coastal vibe of Saint Petersburg by incorporating light colors, natural materials, and nautical elements into your design.
Choose Stylish and Practical Furnishings
- Invest in high-quality, stylish furniture that is both comfortable and reflective of the local aesthetic. This includes coastal themes with driftwood accents, bright tropical patterns, and ocean-inspired artworks.
Highlight Outdoor Spaces
- Since Saint Petersburg is known for its beautiful beaches and outdoor activities, ensure your property has inviting outdoor spaces such as patios or balconies. Adding amenities like kayaks or beach chairs can also enhance the guest experience.
Modern and Minimalist Touches
- Consider incorporating modern and minimalist styles, emphasizing clean lines and uncluttered spaces, to appeal to a wide range of guests.
Statement Pieces
- Focus on statement pieces such as couches, coffee tables, and dining room tables that define the space and create a premium experience. These pieces can justify a slightly higher budget.
Comfortable Living Areas
- Ensure your living areas are designed for both relaxation and socializing. This includes providing comfortable seating, modern kitchens, and amenities like cozy fireplaces for cooler evenings.
Local Art and Decor
- Incorporate unique or local art pieces to capture the essence of Saint Petersburg, enhancing guests' overall experience and satisfaction.
Attention to Detail
- Pay attention to smaller details such as adding plants to liven up the space, using 100% cotton sheets for comfort, and ensuring all touchable surfaces are sanitized for each new guest.
Neighborhood Considerations
- Choose neighborhoods that are desirable for tourists, such as waterfront areas, central beach districts, and areas with vibrant nightlife and dining options. These locations can significantly impact the appeal of your Airbnb.
Compliance with Regulations
- Ensure your property complies with Saint Petersburg’s regulations, including obtaining necessary licenses and adhering to building and housing standards to maintain a safe and habitable environment for guests.
Discovering Saint Petersburg, Florida: Top Attractions and Insider Tips
Top Attractions
Landmarks and Museums
- Salvador Dalí Museum: Known for its stunning geodesic structure and extensive collection of Dalí's works, located along the waterfront in downtown St. Pete.
- St. Petersburg Museum of Fine Arts: Features a permanent art collection spanning thousands of years and temporary exhibits, with a notable giant kapok tree outside.
- Chihuly Collection: Showcases the intricate and beautifully-hued glass works of Dale Chihuly, with a striking amethyst sculpture outside.
Waterfront Attractions
- The St. Pete Pier: Offers a splash pad, playground, walking paths, an open-air market, a nature discovery center, Spa Beach, and various dining options.
- John's Pass Village & Boardwalk: A rustic collection of shops, restaurants, and bars in Madeira Beach, with jet-ski rentals, sunset cruises, and dolphin-watching tours.
- Clearwater Marine Aquarium: Home to Winter the Dolphin from the movie "Dolphin Tale".
Parks and Gardens
- Fort De Soto Park: A pristine beachfront park with award-winning beaches, rare waterfront camping, and historical fortifications.
- Sunken Gardens: A 100-year-old attraction with an ever-changing landscape of blooming trees and plants.
- Florida Botanical Gardens: Features expertly tended orchids, roses, and fruit trees in Largo.
Other Attractions
- Egmont Key: Accessible by ferry or kayak, this island offers a historic lighthouse and beautiful beaches.
- North Straub Park: A scenic park with walking paths and a variety of community events.
Insider Tips
Getting Around
- Explore by Foot or Bike: St. Petersburg has a walkable downtown area and bike-friendly roads, making it easy to discover local attractions on foot or by bike.
Dining and Nightlife
- Craft Beer Scene: St. Pete-Clearwater is known for its vibrant craft beer scene; consider taking a brewery tour or visiting local favorites.
- Local Events: Check out the annual "Besties" awards for top recommendations on restaurants, festivals, and more.
Activities
- Water Activities: Enjoy jet-skiing, boat tours, floating tiki tours, and other fun water activities available in the area.
- Guided Tours: Take advantage of boat tours, bus tours, or walking tours to discover the best shops, attractions, and restaurants. The St. Pete Walking Mural Tour is a great way to explore the city's vibrant art scene.
Special Tips
- Book Ahead: For popular attractions like The Tropics Boat Tours, make reservations at least 24 hours in advance to avoid sold-out tours.
- Respect Local Communities: When visiting quieter areas like Sunset Beach, be mindful of local residents and keep a low profile.
By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to Saint Petersburg, Florida.
Practical Tips to Run a Successful Short-Term Rental Business in Saint Petersburg, Florida
To ensure a smooth and profitable short-term rental business in Saint Petersburg, Florida, several practical tips can make a significant difference. Here are some key considerations:
Noise Regulations and Guest Communication
Inform your guests about quiet hours and noise regulations to maintain a harmonious environment, especially in residential areas. Clearly outline these rules in your rental agreement and house manual to avoid any misunderstandings.
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 regulations, including those specific to St. Petersburg, such as the limit on short-term rentals to three times within a 365-day period.
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 parking instructions accompanied by photos to ensure they can find and use the designated parking areas without hassle.
Additional Tips
- Ensure your property is compliant with St. Petersburg's zoning regulations and obtain the necessary permits, including a Business Tax Certificate Receipt and a DBPR license.
- Maintain a high level of guest support with 24/7 assistance to enhance their experience and encourage positive reviews.
- Implement dynamic pricing strategies to optimize your rental income, considering local events and seasonal fluctuations.
By following these tips, you can create a welcoming and well-managed short-term rental property that adheres to local regulations and enhances the guest experience.
Here is a brief list of house cleaning providers in Saint Petersburg, Florida:
House Cleaning Providers in Saint Petersburg, FL
MaidPro St. Petersburg
- Offers residential and commercial cleaning services, including pressure washing, carpet cleaning, upholstery cleaning, and grout cleaning.
- Uses a 49-Point Checklist™ to ensure thorough cleaning.
- Customizable cleaning plans and various frequency options (weekly, bi-weekly, monthly, one-time).
My Cleaning Angel
- Provides tailored house cleaning services, including one-time, move-in/move-out, post-construction, and recurring cleanings.
- Offers commercial and vacation rental cleaning services.
- Uses eco-friendly cleaning products and provides customizable cleaning packages.
Merry Maids
- Offers professional maid services, including routine home cleaning.
- Insured and well-trained cleaning professionals.
- Locally owned with over 40 years of national experience.
The Cleaning Authority
- Implements a Detail-Clean Rotation System for thorough cleaning.
- Uses environmentally responsible cleaning products and HEPA vacuums.
- Offers flexible house cleaning services, including one-time and recurring cleanings.
- Provides free in-home estimates and is fully bonded and insured.
Short-Term Rental Management Fees in Saint Petersburg, Florida: A Comprehensive Guide
In Saint Petersburg, Florida, the fees for short-term rental management 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 Vello, MasterHost, and The Florida Nest, offer a comprehensive suite of services including guest communication, marketing, property staging, cleaning, and maintenance, which generally fall on the higher end of this range, often around 20% to 30% of the monthly earnings.
Basic services, which might include only the essentials like booking management and guest correspondence, can be found at lower rates, starting from around 10% per booking. Additionally, property owners may incur extra fees for services such as cleaning, repairs, and interior design, which can be charged separately or included in the overall management fee. Understanding these fee structures is crucial for property owners to maximize their returns while ensuring their properties are well-managed and compliant with local regulations.