Key West Vacation Rentals As An Investment

Key West is currently one of the most popular tourist destinations in the world. A tropical paradise, within the United States, it has a 'year round' demand for weekly and monthly vacation rentals, while most vacation destinations have five to seven month seasons. Renting a vacation home is the strongest growing trend in the hospitality industry world-wide. When managed and marketed by VHKW ~ Vacation Homes of Key West the outstanding monthly income generated by Key West vacation rentals make this a one-of-a-kind financial opportunity.

Based on decades of managing Key West real estate as vacation rentals, VHKW can help you determine the potential performance of properties you are interested in when professionally managed as vacation rentals. Once you purchase a property, we will work to assure your ease of ownership, by offering personalized service, in our specific areas of expertise.

VHKW takes a unique approach in our preparedness. While we focus on vacation rental management and marketing, Bascom Grooms Real Estate is available to help with the purchase of your vacation rental home. Both VHKW and Bascom Grooms have been market leaders in Key West since 1999.

In the trending and rapidly changing vacation rental industry, it is more important than ever to get expert guidance from local Key West real estate and property management professionals. We invite you to contact VHKW directly, to discuss how we join forces to assist you with real estate and vacation rental property management services. As locally owned boutique companies, VHKW and Bascom Grooms Real Estate together, represent many different types of Key West properties with customized services, tailored to your needs.

Researching Your Vacation Rental Investment:

VHKW ~ Vacation Homes of Key West has an 18 + year track record of turning weekly and monthly vacation rental properties into profit centers for our clients, through our proven comprehensive vacation rental management program. Did you know that we own real data comparison of rental income for Key West properties ranging from one bedroom cottages, to ocean-front condos, to eleven bedroom estates? For us there is no guessing or making potentially misleading projections based solely on purchase price against anticipated gross incomes.

We have actual capitalization rates from comparable properties we have managed long term, so you can determine real net returns against the purchase price of your vacation rental. We can offer an objective perspective on owning vacation rentals and vacation rental management based on in-depth experience, without conflict of interest. We know that not all Key West properties make good vacation rentals.

Based on current and historical data from actual rentals in our vacation rental inventory, we can provide accurate income projections for both weekly and month rentals. When managed with our proven locally based program, using our proprietary vacation rental management software, there are few financial opportunities where you can realize a great return on investment by owning a piece of architectural history and at the same time creating a tropical island retreat for family and friends.

Types of Key West Vacation Rental Investment Properties:

There are two distinctly different types of Key West vacation rentals: Weekly rentals (or transient rentals), which can be rented for a week or less; monthly rentals, which require a minimum 30 day occupancy. These differences have a direct impact on rental income and the return of investment. It is important for anyone investing in a Key West vacation rental to understand the different licensing rules, restrictions, and how each is regulated differently by city, county, and state departments. VHKW ~ Vacation Homes of Key West has a long history of managing both types of vacation rental properties, and has a good working relationship with governing agencies.

• Transient Rentals as an investment - Key West transient rentals, most often referred to as weekly rentals, hold a special City of Key West transient license which allows these properties to be rented weekly, nightly - like a hotel. Key West transient rentals must also have a Monroe County business license and tourist tax number, and a State of Florida sales tax certificate. The City of Key West is not issuing anymore transient rental licenses, giving properties that hold this license a higher value. Through regulation, the City has eliminated the possibility of a constant growing inventory of short-term vacation rentals found in other vacation areas, making them even more valuable.
• Most of the weekly rentals are located closer to popular tourist areas, where tourists typically want to stay for a short vacation. Key West transient rentals are in demand, all year round, and ownership promises an impressive immediate return on investment. These properties command increasing rent rates, more in-line with hotels, along with appreciating Key West real estate values. The outstanding cash-flow generated by weekly rentals, when managed by VHKW, make this a unique investment opportunity. We will help you understand what to project for rate of return on investment with a vacation rental that has a transient license.
• Monthly Rentals as an investment - Key West monthly vacation rentals must be rented for at least a month, but not for more than six months. Monthly rental homes are increasingly in demand throughout the year, not just in the high season winter months. Key West is all about location, and monthly rentals offer an excellent investment performance on a tiny island with limited land and properties, and strong appreciation in value.
• Many monthly rentals are located in quieter Key West residential neighborhoods, away from main tourist attractions. Monthly vacation rentals are required to have a Monroe County business license, tourist tax number, and a State of Florida sales tax certificate. City of Key West Code Compliance Department forbids and enforces renting monthly rentals for less than 30 days.
• Absentee ownership of a monthly vacation rental can provide part-time Key West residents the opportunity to use rental income to off-set the cost of ownership. Monthly rental properties established in our exclusive inventory of homes, provide a proven cash flow and can provide an excellent return on investment for the amount of risk, and then provide a retirement home of your dreams.

Since inception, VHKW has maintained nearly 100% customer and property retention, continuing to manage vacation rental properties even when they eventually sell to new owners. When it comes time to sell your vacation rental investment, we can step in and help maximize the return on the sale of your property.

Contact Us Regarding Key West Vacation Rentals As An Investment:

Please contact us with questions regarding vacation rentals as an investment. You can use the form below, or call our office with the contact information listed here.