Sunny Isles Beach, Florida, is experiencing robust short-term rental performance, characterized by a high median occupancy rate of 73%, an average daily rate of $181, and an annual host income of $47,000, making it a highly profitable and stable investment opportunity.
Thriving Short-Term Rental Market in Sunny Isles, Florida
Sunny Isles Beach, Florida, is experiencing a robust and lucrative short-term rental market. With a median occupancy rate of 73%, properties in this area are in high demand throughout the year, driven by the region's year-round tourism appeal and luxurious accommodations. The average daily rate for short-term rentals stands at $181, contributing to an annual host income of approximately $47,000. This strong performance is further bolstered by the area's lenient short-term rental regulations and its strategic location between Miami and Fort Lauderdale, making it an attractive destination for both domestic and international travelers. The consistent flow of tourists and the high-end amenities offered by many properties ensure a stable and profitable environment for short-term rental investors.
Short-Term Rental Regulations in Sunny Isles, Florida for 2024
Licensing Requirements
- A separate Short-Term Vacation Rental License is required for each rental unit. Licenses must be obtained from the city's Planning and Zoning Department before advertising, leasing, or renting the unit.
- Licenses expire annually and must be renewed by September 30 to avoid late fees. Renewal applications are accepted starting August 1 each year, with a renewal fee of $400.
Application Process
- The application must be completed, notarized, and signed by the property owner or responsible party.
- Required documents include proof of payment for license fees, a state-issued Transient Public Lodging Establishment License, Certificates of Registration with the Florida Department of Revenue and Miami-Dade County Tax Collector, liability insurance, rental agreements, a sketch of emergency exits and parking spaces, and proof of installed safety features like smoke detectors and fire extinguishers.
Safety and Compliance Standards
- Installation of smoke detectors, fire extinguishers, and clearly marked emergency exits.
- Compliance with local building codes and accessibility standards.
- Proper sanitation facilities and pest control measures.
- Maximum occupancy of two persons per bedroom, plus two additional persons per property, up to a maximum of 12 persons (excluding children under three).
Zoning Regulations
- Short-term vacation rentals are permitted in specific zones such as commercial and mixed-use areas. Residential zones may have restrictions to maintain the community’s character.
Tax Obligations
- Collection and remittance of the Florida Transient Rental Tax (6% of the listing price).
- Collection and remittance of the Florida Discretionary Sales Surtax and Miami-Dade County short-term transient rental taxes.
Occupancy Limits
- Maximum occupancy is two persons per bedroom, plus two additional persons per property, up to a maximum of 12 persons (excluding children under three).
Enforcement and Penalties
- The city actively monitors listings and enforces regulations strictly. Violations can result in fines, and the city may refuse to issue or renew a license if there are willful violations or falsification of information.
Additional Requirements
- Consent letter from the Condominium Association or a copy of the bylaws.
- Implementation of measures to minimize noise and disturbances.
- Provision of adequate waste disposal options and timely collection.
Responsible Party
- A Responsible Party must be designated and named in the application. The city must be notified in writing of any change of Responsible Party within ten days of such change.
Top Neighborhoods Generating Airbnb Revenue in Sunny Isles, Florida
1. Central Sunny Isles Beach
- This area is highly appealing due to its direct beach access and proximity to key attractions such as the Sunny Isles Fishing Pier and Samson Oceanfront Park.
- Guests favor condos like those in the Ocean Reserve Condominium, which offer spacious residences, ocean views, and amenities like pools, fitness centers, and private balconies.
2. Collins Avenue Area
- Located along Collins Avenue, this neighborhood is popular for its beachfront properties and easy access to local restaurants, cafes, and shopping centers.
- Condos here, such as those in the Marenas Resort, provide luxurious amenities including direct beach access, swimming pools, Jacuzzis, and fully equipped kitchens.
3. Le Cartier Condos Area
- This boutique complex is attractive for families and couples due to its park-like setting, great views of the Intracoastal waterfront, and close proximity to the beach.
- The area offers easy access to local bus services, restaurants, and cafes, making it a convenient and relaxing stay for guests.
4. Sole and Surrounding Area
- Located at 17315 Collins Ave, Sole is a luxurious condominium that appeals to guests with its expansive private terraces, panoramic views, and proximity to Aventura Mall and Bal Harbour shops.
- The area's upscale amenities and world-class restaurants make it a favorite among travelers seeking a luxurious beach vacation.
5. Aventura Beach Club / Marco Polo Residences Area
- This oceanfront condo hotel combines the benefits of hotel amenities with the comfort of spacious condos.
- Guests appreciate the immediate beach access, nearby attractions, and the unique blend of condo and hotel services.
Why These Neighborhoods Are Appealing
- Direct Beach Access: Many of these neighborhoods offer properties that are steps away from the beach, making them ideal for beach lovers.
- Luxurious Amenities: Condos in these areas often feature amenities like swimming pools, Jacuzzis, fitness centers, and private balconies with ocean views.
- Proximity to Attractions: Guests can easily access local restaurants, cafes, shopping centers like Aventura Mall and Bal Harbour, and other Miami attractions.
- Family-Friendly: Neighborhoods like Le Cartier Condos and Ocean Reserve are particularly appealing to families due to their park-like settings and family-friendly amenities.
- Luxury and Convenience: The combination of luxurious living spaces and convenient access to local services makes these neighborhoods highly desirable for Airbnb guests.
Tips for Furnishing and Designing an Inviting Airbnb in Sunny Isles, Florida
Embrace the Local Vibe
- Incorporate elements that reflect the vibrant and beach-oriented atmosphere of Sunny Isles. Use bold colors, sleek lines, and modern furnishings to capture the city's energetic spirit. Consider soft blues and sandy neutrals to create a coastal chic ambiance.
Invest in Quality Furnishings
- Choose high-end furnishings that exude style and provide comfort. Plush sofas, designer chairs, and luxurious beds can significantly enhance the guest experience. Opt for statement pieces like couches, coffee tables, and dining room tables from premium retailers.
Create Seamless Indoor-Outdoor Transitions
- Install large, sliding glass doors that open up to a balcony or terrace to blur the lines between indoor and outdoor spaces. Use similar color schemes and furnishings to create a cohesive look, allowing guests to enjoy the Miami views seamlessly.
Focus on Comfort and Practicality
- Invest in comfortable sofas and decorate them with beautiful cushions to convey cosiness. Consider sofa beds to increase the room's versatility. Ensure good air conditioning and heating to cater to all types of guests, especially those with children or older adults.
Enhance with Personal Touches
- Add personal touches such as plants, books on the shelves, and tablecloths to make the space feel like a home rather than a hotel room. Local and cultural accessories can also humanize the environment and make it more memorable.
Pay Attention to Lighting and Storage
- Use luminaires and dumb servants to provide support for items like books and cell phones. Ensure there are adequate storage solutions such as niches, shelves, and hooks for clothes and other items. Well-sealed shower boxes and large sink countertops in the bathroom are also essential.
Kitchen Essentials
- Equip the kitchen with necessary items like cutlery, corkscrews, spatulas, juicer, pasta drainer, blender, good knives, and a microwave. This will cater to guests who prefer to cook and those who need to warm up items quickly.
Bathroom Amenities
- Ensure the bathroom is practical and comfortable with a shower that has good pressure and a well-sealed box. Provide niches for shampoos and soap, and large sink countertops for other objects.
High-Quality Linens and Decor
- Use high-quality, 100% cotton sheets and duvet covers, which can be found at affordable prices at stores like IKEA. Invest in luxury linens and decor to match the high-end expectations of Sunny Isles guests.
Seasonal and Local Decor
- Reflect the cheerful mood of vacationers by using vibrant colors and cheerful decorations. Update your decor periodically to follow trends and adapt to guest feedback.
Compliance with Local Regulations
- Ensure your Airbnb complies with local regulations, including obtaining necessary permits and adhering to guest limits and other short-term rental rules specific to Sunny Isles Beach.
Discover Sunny Isles, Florida: Local Attractions and Insider Tips for Airbnb Hosts
Local Attractions
Beach and Water Activities
- Sunny Isles Beach: Enjoy pristine beaches with white sand, crystal-clear waters, and warm temperatures year-round. Guests can engage in activities like paddleboarding, jet skiing, parasailing, and kayaking.
- Newport Fishing Pier: A historic pier now known as the Newport Fishing Pier, perfect for fishing and taking in the views.
Outdoor Adventures
- Oleta River State Park: The largest urban park in Florida, offering kayaking, canoeing, and biking trails.
- City Parks and Paved Paths: Several parks and paved paths suitable for bikers and skaters.
Shopping
- Aventura Mall: One of the largest luxury shopping malls in the U.S., with over 280 shops.
- Bal Harbour Shops: An upscale shopping destination with a variety of high-end stores.
- Design District: Home to leading designers from around the world.
Cultural and Historical Sites
- Ancient Spanish Monastery: A Florida Heritage site with European architecture and historical significance.
- Miami Beach Art Deco Historic District: The nation’s largest concentration of 1920s and 1930s Art Deco architecture.
Family-Friendly Attractions
- Dezerland Park: South Florida's largest indoor attraction park with various activities.
- Jungle Island: An intimate zoological park with animal encounters.
- Miami Seaquarium: Features marine life, educational programs, and rescue efforts.
Insider Tips
Getting Around
- Electric Bikes: Recommend renting electric bikes for easy navigation around the area and to nearby attractions like the Wynwood Arts District.
Dining and Nightlife
- Global Culinary Scene: Highlight the diverse culinary options available in Sunny Isles Beach, catering to various tastes.
- Sunday Brunch and Antipasto Thursdays: Suggest dining at Azzurro Italian Restaurant & Bar at the Trump International Beach Resort for special culinary experiences.
Local Events and Activities
- Beach Activities: Inform guests about paddleboard and boogie board rentals available at the beach hut, open daily from 8am-5pm.
- MTV Spring Break History: Share the history of Sunny Isles Beach being a site for MTV's Spring Break celebration in 2008.
Nearby Destinations
- Bal Harbour and Aventura: Mention the proximity to Bal Harbour to the south and Aventura to the north and west, offering additional shopping and dining options.
Relaxation and Wellness
- Acqualina Spa and Aquanox Spa: Recommend these spas for guests looking to pamper themselves during their stay.
By providing these local attractions and insider tips, you can enhance your guests' experience and make their stay in Sunny Isles, Florida, truly memorable.
Practical Tips to Run a Successful Short Term Rental Business in Sunny Isles, Florida
To ensure a smooth and successful short-term rental business in Sunny Isles, Florida, several practical tips can make a significant difference in guest satisfaction and compliance with local regulations.
Noise Regulations and Guest Communication
Informing guests about quiet hours is crucial to maintain a peaceful environment and avoid potential fines. Include clear noise regulations in your rental agreement and house manual, specifying quiet hours and the consequences of non-compliance.
Comprehensive House Manual
Create both digital and physical house manuals that include detailed instructions on how to use appliances, Wi-Fi passwords, and other essential information. This manual should also cover emergency procedures, such as the location of fire extinguishers and emergency exits, as required by Sunny Isles Beach regulations.
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, along with photos of the entrance and any specific steps they need to follow. Additionally, include parking instructions with photos to help guests navigate the property's parking facilities.
By implementing these strategies, you can enhance the guest experience, reduce potential issues, and ensure compliance with local regulations, thereby contributing to a successful and profitable short-term rental business in Sunny Isles Beach.
Here is a brief list of house cleaning services in Sunny Isles Beach, Florida:
House Cleaning Services in Sunny Isles Beach, FL
Aloha Maids
- Offers house cleaning services, allowing you to take a break from housekeeping.
My Cleaning Angel
- Matches clients with local cleaners for efficient house cleaning services, with easy online booking.
Cleany Miami
- Provides residential and commercial cleaning services, highly rated on platforms like Yelp and Google.
Various Providers Listed on Angie's List and Thumbtack
- Includes multiple house cleaning services rated by the local community, with average costs ranging between $30 and $50 per hour.
Short-Term Rental Management Fees in Sunny Isles, Florida: A Comprehensive Overview
In Sunny Isles, Florida, managing short-term rentals involves a range of fees that can vary significantly based on the level of service provided. Typically, these management fees range from 10% to 30% of the rental revenue. Full-service management companies, such as MasterHost and Summer, offer comprehensive services including guest communication, marketing, price optimization, and property maintenance, which generally fall on the higher end of this spectrum, often around 15% to 20% of the revenue.
Basic service packages, which may include only the essential management tasks like listing creation and booking management, can be more affordable, starting at around 10% of the revenue. Additionally, hosts 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 hosts to maximize their revenue while ensuring compliance with local regulations and maintaining a high-quality guest experience.