The short-term rental market in Venice, Florida is thriving, with an average 55% occupancy rate, a $193 daily rate, and $13,968 in monthly revenue, indicating strong demand and lucrative investment opportunities.
Thriving Short-Term Rental Market in Venice, Florida
The short-term rental market in Venice, Florida, is experiencing a period of robust performance and high demand. With an average occupancy rate of 55% for rentals listed on platforms like Airbnb and Vrbo, and a median occupancy rate of 61% in South Venice, the area is attracting a steady stream of visitors.
The average daily rate for short-term rentals in Venice stands at $193, indicating strong revenue potential for property owners. In South Venice, the average daily rate is even higher at $165, with hosts earning an average annual revenue of $38,000. These figures highlight the profitability and stability of investing in short-term rentals in the region, making Venice an attractive destination for both travelers and investors.
Short-Term Rental Regulations in Venice, Florida for 2024
State and Local Regulations
Statewide Mandates
- Definition of Short-Term Rental: Any individual lease agreement less than six months in duration, or housing accommodations rented for stays of 30 days or less, more than three times per year.
- State Sales Tax: A 6% State Sales Tax must be collected from these rentals and sent to the Department of Revenue.
- Florida Department of Business & Professional Regulation (DBPR) License: Required for properties rented more than three times a year for less than 30 days or publicly advertised for such rentals.
Local Regulations in Venice, FL
- Minimum Stay Requirement: Although not strictly enforced, short-term renting is allowed as long as the guest stays for a minimum duration of one week, according to Sarasota County regulations.
- Enforcement and Violations: Property owners have been cited for violating this rental ordinance, and there is a possibility of tighter regulations in the future.
- Occupancy Limits: While not specified uniquely for Venice, Florida's new law allows local governments to set occupancy limits based on the number of bedrooms (two people per bedroom plus two in a common area).
Licensing and Registration
- Local Compliance: Property owners must verify and comply with local regulations, which may include registration and specific permits.
- Fees and Inspections: Local governments can charge reasonable fees for registration, and some cities may require property inspections to obtain a rental permit.
Other Regulations
- Taxation: Short-term rental hosts must collect and remit state sales and local tourist taxes, which usually range between 7.5% and 12% of revenue.
- Human Trafficking Notification: Employees must be trained appropriately, and property owners must agree to this in their application.
Enforcement and Penalties
- Fines for Non-Compliance: Significant fines can be imposed for operating a rental without proper registration or permits, potentially $500-1000+ per day.
- Suspension of Registrations: Local governments can suspend vacation rental registrations for up to 30 days following three or more violations of local ordinances within a 90-day period.
Top Neighborhoods for Airbnb Revenue in Venice, Florida
1. Downtown Venice Island
- This area is highly appealing due to its central location, walking distance to idyllic downtown shops, restaurants, entertainment, and beaches. Guests love the convenience of being close to Venice Beach, Sharkey's Restaurant & Pier, and other local amenities. Properties like the "Lovely large one+ in the heart of downtown Venice" and "Venice Beach - Coco Palms 103" are highly rated for their proximity and amenities.
2. South Venice
- South Venice is popular for its quiet and peaceful neighborhoods, with homes often featuring private swimming pools and being close to multiple beaches such as Manasota, Nokomis, and Sharky’s beaches. Guests appreciate the easy access to beaches, parks, the Gulf Inter-Coastal, and the Legacy Trail. Properties like "Vacation Rental with private swimming pool" and "Near historical downtown Venice and Venice beach" are favorites among guests.
3. Venice East
- Venice East is attractive for its laid-back and affordable living, centered around the Venice East Golf Course. The area offers a mix of ranch-style homes and updated modern residences. Guests enjoy the community's social events and the proximity to downtown Venice and its beaches. The voluntary non-profit organization (VECA) adds to the community's charm.
4. IslandWalk at West Villages / Wellen Park
- This gated lakefront community is renowned for its resort-style amenities, including multiple sport courts, resort-style swimming pools, fitness centers, and more. Guests are drawn to the active lifestyle and luxury living offered here, making it one of the most sought-after communities in the area.
5. Grand Palm
- Located west of downtown Venice, Grand Palm offers a balance of natural beauty and homeowner comfort. The community features a dedicated activities coordinator, various fun activities, and numerous amenities included in the development membership fees. Guests appreciate the sense of community and the range of activities available.
Why These Neighborhoods Are Appealing
- Central Location: Neighborhoods like Downtown Venice Island offer easy access to local amenities, beaches, and entertainment.
- Amenities: Areas such as South Venice, IslandWalk, and Grand Palm provide a range of amenities including private swimming pools, sport courts, fitness centers, and community events.
- Peaceful Setting: Neighborhoods like Venice East and Venice Gardens offer a quiet and peaceful living environment, which is appealing for those seeking a relaxed vacation.
- Affordability: Areas like Venice East and Venice Gardens are more budget-friendly compared to other neighborhoods, making them attractive for a wider range of guests.
- Resort-Style Living: Communities such as IslandWalk and Grand Palm offer a luxury resort-style living experience, which is highly appealing for guests looking for an upscale vacation.
Tips for Furnishing and Designing an Inviting Airbnb in Venice, Florida
Choose Sturdy, High-Quality Items
- Opt for solid wood over particle board and select dressers with easy-to-open drawers to ensure durability and functionality.
Select Easy-to-Clean Furniture
- Minimize the use of fabric, especially on items like dining chairs, and prefer leather or wipeable surfaces. Use ScotchGuard on fabrics and maintain a cleaning routine with tools like the Bissel Little Green.
Ensure Items Serve a Purpose
- Avoid unnecessary decor and furniture. Each piece should be functional and useful, such as cabinets under TVs for storage and small accent tables instead of nightstands.
Fill the Space Effectively
- Choose furniture that fills the room appropriately, considering the height of ceilings and the width of walls. Use mirrors to enhance the space and provide additional areas for guests to get ready.
Reflect the Local Style
- Incorporate nautical themes with accents of blues and sandy colors, which are popular in coastal areas like Venice, Florida. Modern furnishings can also offer a fresh yet comfortable aesthetic.
Prioritize Guest Comfort and Safety
- Mount TVs and secure large mirrors to the wall for both safety and aesthetic appeal. Ensure that heavy furniture is stable and secure to prevent accidents.
Highlight Local Amenities
- Emphasize outdoor spaces such as private patios, balconies, or pools, which are highly desirable for guests in Venice, Florida. Proximity to the beach and waterfront views should also be highlighted.
Invest in Statement Pieces
- Allocate your budget to statement pieces like couches, coffee tables, and dining room tables that define the space and create a lasting impression on guests.
Maintain a Budget-Friendly Approach to Essentials
- For items like sheets and duvet covers, opt for affordable, high-quality options such as 100% cotton sheets from stores that offer good value without compromising on quality.
Add Decorative Touches Thoughtfully
- Use plants and other decorative items sparingly to liven up the space without creating clutter or safety hazards. Ensure that any decorative items serve a purpose or enhance the overall ambiance.
Local Attractions and Insider Tips for Visiting Venice, Florida
Local Attractions
Beach and Water Activities
- Venice Fishing Pier: A must-visit for fishing enthusiasts, with rental options available. Enjoy the scenic views, spot dolphins, and take a leisurely walk along the pier.
- Venice Jetty: Watch boats, spot wildlife including manatees and dolphins, and enjoy the park area.
- Shamrock Park: Explore the walking and biking trails, basketball and tennis courts, playground, and nature center. Part of the Legacy Trail and Venetian Waterway Trail systems.
Cultural and Historical Sites
- Historic Venice Train Depot: Learn about the influence of railroads on Florida’s history and view historic train cars, including the Ringling Brothers Circus train car.
- Venice Theater: One of the most active local community theaters in the US, offering various shows throughout the year.
- Venice Museum & Archives: Discover the history and culture of Venice through exhibits and archives.
Parks and Recreation
- Centennial Park Downtown: Relax in the park, take your dog for a stroll, let kids play in the splash pad, or enjoy a picnic near the gazebo. The park also hosts movie nights and concerts.
- Venice Performing Arts Center: Catch a performance or event at this vibrant arts center.
Other Attractions
- Venice Art Center: Explore local art exhibits and participate in art classes or workshops.
- Clyde Butcher's Venice Gallery: View the stunning photography of Clyde Butcher, known for his large-format black and white landscapes.
Insider Tips
Local Events
- Venice Beach Yoga: Join morning or sunset yoga sessions on the beach.
- History Walking and Golf Cart Tours: Learn about the history of Venice through guided walking or golf cart tours.
Dining and Shopping
- Downtown Venice: Enjoy shopping, dining, and people-watching in the charming downtown area. Participate in events like "Sip & Shop" evenings.
Nearby Attractions
- Selby Botanical Gardens (Sarasota): Only 45 minutes away, offering beautiful gardens and a variety of plant species.
- South Florida Museum (Bradenton): About an hour away, featuring natural history exhibits and educational programs.
Outdoor Activities
- Fossil Hunting: Explore the beaches and rivers around Venice to uncover pieces of Florida’s past.
By providing these recommendations, your Airbnb guests can experience the full charm and variety that Venice, Florida has to offer.
Practical Tips to Run a Successful Short Term Rental Business in Venice, Florida
To ensure a smooth and profitable short-term rental business in Venice, Florida, several practical tips can be implemented:
Noise Regulations and Guest Communication
Inform your guests about the local noise regulations and quiet hours to avoid any potential issues. Include this information in both your digital and physical house manual to set clear expectations.
Comprehensive House Manual
Create a detailed house manual that includes essential instructions, Wi-Fi passwords, and other important details. This manual should be available both digitally and in physical form within the rental property to cater to different guest preferences.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. This not only enhances guest convenience but also reduces the likelihood of lost keys.
Clear Parking Instructions
Provide clear parking instructions, accompanied by photos, to help guests navigate the parking area easily. This can be included in the house manual or sent as a welcome message before their arrival.
By implementing these strategies, you can enhance guest satisfaction, reduce potential issues, and ensure your short-term rental business in Venice, Florida, operates efficiently and profitably. Additionally, complying with local regulations, such as obtaining necessary licenses and registering with the city, is crucial to avoid legal complications.
Here is a brief list of house cleaning providers in Venice, Florida, presented in markdown format:
House Cleaning Providers in Venice, Florida
Merry Maids of Venice
- Offers expert cleaning services with 40 years of industry experience.
- Provides home cleaning services, including one-time and recurring cleanings, to residents of Venice and Osprey.
My Cleaning Angel
- Matches clients with local cleaners for various cleaning services.
- Offers one-time cleaning, move-in/move-out cleaning, post-construction cleaning, recurring cleaning, and vacation rental cleaning.
- Uses eco-friendly cleaning products and provides customizable cleaning plans.
Maids in Purple
- Provides top-rated house cleaning services in Venice and surrounding areas.
- Offers customizable cleaning routines and a satisfaction guarantee.
- Known for reliable and professional maid services.
The Cleaning Authority
- Offers customizable cleaning programs, including one-time deep cleans and regular maintenance.
- Serves residents of Venice, Osprey, and Sarasota.
Short-Term Rental Management Fees in Venice, Florida: A Comprehensive Guide
Managing short-term rentals in Venice, Florida, involves a range of fees that can vary significantly based on the level of service provided. Typically, property management fees for short-term rentals in Venice range from 10% to 30% of the rental revenue. Full-service management, which includes guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often starting at around 20% of the rental income.
Basic services, such as rent collection and minimal maintenance, may incur lower fees. Additionally, property owners should be prepared for extra costs, including cleaning fees, repair expenses, and design services, which can be charged separately. For instance, some management companies calculate their fees after excluding cleaning fees, which can make their overall charges more competitive.
Understanding these fee structures is crucial for property owners to maximize their rental income and ensure compliance with local regulations, including licensing, tax collection, and zoning requirements in Venice, Florida.