Airbnb & VRBO Performance in Tampa New York.

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Tampa, New York: Airbnb & VRBO Vacation Rental Market Overview

Tampa, Florida, not New York, is currently the top performer in short-term rental markets, boasting a 71.6% increase in property values over the past five years, a 44.8% Airbnb occupancy rate, and an average annual Airbnb revenue of $52,705.

Market overview

Tampa, Florida: A Beacon for Short-Term Rental Success in 2024

Tampa, Florida, stands out as the top city for short-term rental investments in 2024, according to a recent study by Clever Real Estate and Rabbu. This vibrant city boasts an impressive 44.8% Airbnb occupancy rate, significantly higher than the national average. Investors in Tampa can expect an average annual Airbnb revenue of $52,705, driven by the city's strong tourism, desirable weather, and a plethora of suitable properties. With a 71.6% increase in property values over the past five years and over 16,000 property listings, Tampa offers a lucrative and stable market for short-term rental investors, making it an attractive destination for those looking to capitalize on the growing demand for Airbnb accommodations.

Short Term Regulations

Short-Term Rental Regulations in Tampa, Florida for 2024

Note: There is no Tampa, New York; the regulations provided are for Tampa, Florida.

Licensing and Registration

  • Vacation Rental License: Obtain a vacation rental license from the Florida Department of Business and Professional Regulation (DBPR), mandatory for rentals less than six months.
  • General Business License: Secure a general business license from the State of Florida and a business tax receipt from Hillsborough County.
  • State Sales Tax Registration: Register with the Florida Department of Revenue to collect and remit state sales tax and the Tourist Development Tax.

Zoning and Property Use

  • Zoning Compliance: Ensure the property is zoned for transient rentals by consulting the Hillsborough County Land Development Office.
  • Allowed Property Types: Accessory dwelling units (ADUs), duplexes, and multifamily homes can be registered as short-term rentals if they comply with regulations.

Occupancy Limits

  • Maximum Occupancy: The maximum overnight occupancy is six persons or two persons per bedroom, whichever is greater, with additional persons allowed in common areas under certain conditions.

Safety and Health Standards

  • Building and Safety Codes: Ensure compliance with the Florida Building Code, Fire Code, Life Safety Code, FEMA laws, and the Land Development Code of the City of Tampa.

Insurance Requirements

  • Insurance Coverage: Hosts must have homeowner's insurance with provisions covering fire, hazard, and liability with at least one million dollars per occurrence.

Tax Obligations

  • State Sales Tax: Collect and remit a 6% state sales tax on rental income.
  • Tourist Development Tax: Collect and remit a 6% Hillsborough County Tourist Development Tax on all bookings.

Operational Requirements

  • Designated Agent: Owners can designate an agent to manage the property, but the owner remains responsible for compliance with state and local statutes and ordinances.
  • Complaint Response: Designate a responsible party available 24/7 to handle guest issues or complaints.

Advertising and Registration

  • Registration Number Display: Advertisements must prominently display the state-issued registration number.

Fees and Renewals

  • License Fees: Fees range from $90 for a half-year license to $170 for a full-year license, with a $50 non-refundable application fee.
  • License Renewal: The vacation rental license is typically valid for two years and requires renewal after this duration.

Additional Requirements

  • Balcony Inspection: For buildings three or more stories high or with balconies at least 17 feet from ground level, a certified balcony inspection is required.
  • Human Trafficking Notification: Ensure employees are trained appropriately on human trafficking awareness.
Neighborhood Performance

Top Airbnb Revenue-Generating Neighborhoods in Tampa, Florida

Tampa, Florida

1. Courier City-Oscawana

  • Average Revenue: $32.2K per year
  • Average Daily Rate: $183.4 per night
  • Average Occupancy Rate: 63%
  • Appeal: This neighborhood offers a blend of historic charm and modern convenience, with diverse housing options, a lively urban environment, and easy access to downtown Tampa and major highways. Its unique local flavor, green spaces, and cultural diversity make it attractive to a wide range of guests.

2. Ybor City

  • Average Revenue: $28.7K per year
  • Average Daily Rate: $151 per night
  • Average Occupancy Rate: 60%
  • Appeal: Known for its vibrant and culturally rich environment, Ybor City offers a unique blend of history, entertainment, and proximity to key locations. Its historic charm, nightlife, dining, and cultural events make it a prime location for guests seeking an immersive city experience.

3. Channel District

  • Average Revenue: $30.8K per year
  • Average Daily Rate: $171.2 per night
  • Average Occupancy Rate: 60%
  • Appeal: Located in the heart of downtown Tampa, the Channel District offers urban living and waterfront charm. Its unbeatable convenience, with easy access to major highways, public transportation, and the Tampa Riverwalk, along with a wide array of amenities, makes it highly appealing to guests.

4. Hyde Park North

  • Average Revenue: Not specified, but known for high profitability
  • Appeal: This neighborhood combines historic charm with modern living, offering a sophisticated stay with luxury amenities. Its proximity to downtown Tampa, natural beauty, and urban convenience enhances its attractiveness for short-term rentals.

5. Carver City-Lincoln Gardens

  • Average Revenue: $23K per year
  • Average Daily Rate: $143.8 per night
  • Average Occupancy Rate: 53%
  • Appeal: This family-friendly community is known for its clean streets, peaceful atmosphere, and central location. Easy access to major highways and the Tampa International Airport makes it an attractive option for guests seeking convenience and a quiet stay.

Note:

There is no data provided for New York in the sources, so the list only includes neighborhoods in Tampa, Florida. If you need information on New York, additional sources would be required.

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Design Tips
Insider Tips

Discover Tampa Bay: Local Attractions and Insider Tips for Your Guests

Top Attractions

Tampa

  • Tampa Riverwalk: A scenic two-mile path connecting some of the city's best parks, including Curtis Hixon Water Park and splash pad.
  • Ybor City: A National Historic Landmark District known for its Cuban culture, cigar factories, and the original Cuban sandwich. Explore via a paid trolley from downtown Tampa.
  • Busch Gardens Tampa Bay: A theme park celebrating African wildlife with thrilling rides and animal encounters.
  • ZooTampa at Lowry Park: Focuses on endangered and threatened species, including the Florida panther, and offers thrilling rides and signature experiences like the Macaw Flyover.
  • The Florida Aquarium: Features the flora and fauna of Florida’s salt- and fresh-water ecosystems, with interactive experiences like swimming with sharks.

St. Petersburg and Clearwater

  • Clearwater Beach: Known for its family-friendly amenities and gentle surf. Other notable beaches include Fort De Soto and Caladesi Island.
  • St. Pete Pier: A waterfront destination offering dining options and stunning views. The pier itself is an architectural beauty.
  • Salvador Dalí Museum: Located in St. Petersburg, this museum showcases the works of Salvador Dalí and offers a unique cultural experience.

Insider Tips

Dining and Nightlife

  • Armature Works: An industrial-chic food hall on the Tampa Riverfront, perfect for breakfast with local vendors and outdoor seating.
  • Carmine’s: Savor a café con leche and experience Cuban culture in Ybor City.
  • Ulele: Enjoy dinner inspired by Native American and local flavors, with a gorgeous interior and lush patio views.
  • Craft Beer: Tampa Bay is the craft beer capital of Florida. Recommend breweries like Cigar City in Tampa and Green Bench in St. Petersburg.

Events and Activities

  • Gasparilla Pirate Fest: A family-friendly event that brings pirate-themed parties and parades to the city, especially in winter.
  • Tampa Pride Festival and Parade: Takes place in March, along with the Mayor’s River O’Green Fest.
  • Paddleboarding and Water Activities: Encourage guests to paddleboard beneath the Sunshine Skyway Bridge or explore the Gulf of Mexico and its tributaries.

Cultural Experiences

  • Tampa Bay History Center: Offers historical exhibits and insights into the region’s past.
  • Glazer Children's Museum: Educational exhibits and interactive activities perfect for families.
  • Cultural Museums in St. Petersburg: Recommend visiting the Museum of Fine Arts, Chihuly at the Morean Arts Center, and the Florida Holocaust Museum.

Outdoor Activities

  • Curtis Hixon Water Park and Splash Pad: A city-owned park perfect for families to enjoy during warm weather.
  • Pinellas Trail and Tampa Riverwalk: Combine exercise and scenery by walking or biking along these trails.

By sharing these attractions and insider tips, your guests will have a comprehensive guide to experiencing the best of Tampa Bay.

Practical Tips

Practical Tips to Run a Successful Short Term Rental Business in Tampa, Florida

To ensure a smooth and successful short-term rental business in Tampa, Florida, several practical tips can be implemented:

Noise Regulations and Guest Communication

Inform your guests about quiet hours and noise regulations to maintain a respectful environment for both the guests and the neighbors. Clearly outline these rules in your house manual and during the check-in process 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 be easily accessible and provide all the necessary details for a comfortable stay.

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, and consider including a video or step-by-step guide to ensure a hassle-free arrival.

Parking Instructions

Include detailed parking instructions with photos in your house manual. This helps guests understand where they can park and how to navigate any parking restrictions or specific rules associated with the property.

By implementing these tips, you can enhance the guest experience, reduce potential issues, and ensure your short-term rental business in Tampa operates efficiently and successfully.

Local Vendors

It appears there are no house cleaning, repair, or maintenance providers listed in the sources that are specifically based in Tampa, New York. However, here is a list of providers that operate in Tampa, Florida, which might be helpful if you are looking for services in that area:

House Cleaning Services in Tampa, FL

My Cleaning Angel

  • Offers one-time, move-in/move-out, post-construction, recurring, and vacation rental cleaning services.
  • Uses eco-friendly cleaning products and provides customizable cleaning services.

Pro Housekeepers

  • Provides deep cleaning, spring cleaning, move-in/move-out, post-construction, and standard recurring cleaning services.
  • Also offers laundry and pet cleaning services.
  • Operates in various areas of Tampa, including Downtown Tampa, Westchase, and South Tampa.

Crazy Clean

  • Specializes in residential and commercial cleaning services, including interior and exterior cleaning, window cleaning, and pressure washing.
  • Offers move-in/move-out, pre-sale/pre-listing, and standard recurring cleaning services.
  • Serves the Tampa Bay area.

Molly Maid of Greater Tampa

  • Provides professional home cleaning services with guaranteed satisfaction.
  • Offers tailored cleaning services based on individual needs.
  • Known for their Neighborly Done Right Promise®.

Maid 4 Time

  • Offers recurring, deep cleaning, move-in/move-out, and apartment cleaning services.
  • Provides a 200% home cleaning guarantee and certified cleaners by ISSA Cleaning Standards.
  • Although primarily based in Rochester and Buffalo, they also serve the Tampa area.
Management fees

Tampa and New York Short-Term Rental Management Fees: A Comprehensive Overview

Short-term rental management fees in both Tampa and New York 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 maintenance, tends to be on the higher end of this spectrum, often ranging from 20% to 30% of the rental income.

In contrast, basic services that may only include listing and reservation management might cost less, often around 10% to 15% of the rental revenue. Additional fees can also apply for services like cleaning, repairs, and design, which can further impact the overall cost. It is crucial for property owners to carefully review the fee structures and services offered by different management companies to ensure they align with their needs and budget.

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Why choose RedAwning

RedAwning is a tech leader in full-service short-term rental management, powered by our exclusive, unmatched tools.
Other property managers
Cost
Starting at 10%
25-40%
Guest communications
5-15 mins / 24 hours a day
1 hour+
Host communications
Dedicated phone and text line with no time on hold
Chat bots, hold lines and email threads
Insurance
Robust liability and dwelling coverage for every reservation
Spotty coverage with low claim approval rates
Contract
No cancellation fees
No contract lock-in
Just 90 days notice to cancel
Cancellation penalties
Number of Channels Your Listing is On
50+
2-4

Experience in numbers

Rest well knowing your property is managed by an experienced team powered by world-class technology.
+10-30%
in gross revenue
4.8 stars
guest rating
14+ years
managing STRs

Short Term Rental Calculator

Find out how much your property in Tampa should generate as a short term rental and look at the performance of properties around yours.

35,000+ Properties
Hosts stay with RedAwning
1,000,000,00 Nights Booked
RedAwing knows how to get bookings
50+ Top Booking Channels
More than any other platform available

Furnishing checklist

This comprehensive checklist ensures that your rental is guest-ready with all the essentials to create a comfortable and memorable experience in Tampa.

Living Room
Seating: Sofa, armchairs, and ottomans
Coffee Table
Entertainment: Smart TV (with streaming apps) and remote control
Decor: Area rug, wall art, plants, and throw pillows
Lighting: Floor lamp or table lamps
Charging Stations: Power strips or outlets with USB ports
Bedrooms
Beds: High-quality mattress with mattress protector
Linens: At least two sets of sheets per bed
Pillows: Hypoallergenic pillows (2-4 per bed)
Blankets: Extra throw blankets or quilts
Nightstands: With lamps or charging docks
Closet or Storage: Hangers, dresser, or luggage rack
Blackout Curtains or Shades
Bathrooms
Towels: Bath towels, hand towels, washcloths (2 sets per guest)
Shower Curtain & Liner
Toiletries: Shampoo, conditioner, body wash, hand soap
Bathroom Essentials: Toilet paper, tissues, trash bin
Hairdryer
Mirror: Full-length or wall mirror
Dining Area
Dining Table: Seating for the maximum number of guests
Place Settings: Placemats or tablecloths
Centerpiece: Vase with flowers or decorative piece
Kitchen
Appliances: Refrigerator, microwave, toaster, coffee maker, kettle
Cookware: Pots, pans, baking trays
Utensils: Forks, knives, spoons, spatulas, tongs
Dinnerware: Plates, bowls, glasses, mugs (2 sets per guest)
Cutting Board & Knives
Basic Spices & Condiments: Salt, pepper, oil
Cleaning Supplies: Sponge, dish soap, paper towels, trash bags
Outdoor Space (if applicable)
Seating: Outdoor chairs, benches, or lounges
Table: For outdoor dining or drinks
Lighting: String lights or outdoor lanterns
Grill: With necessary utensils and instructions
Outdoor Trash Bin
Extras to Elevate Guest Experience
Welcome Basket: Snacks, water bottles, or wine
Guidebook: Local recommendations and house rules
Board Games or Books: Entertainment for guests
Umbrella & Flashlight
Iron & Ironing Board
Laundry: Washer, dryer, and detergent (if available)
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⇤ Airbnb Statistics for New York