Osceola County welcomes over 10 million visitors per year, many of them flocking to Kissimmee to escape harsh winters or enjoy temperate springtime temperatures. Its famous lakes are also perfect for cooling off in the summer.
Visitors enjoy airboat rides, sunset cruises, theme parks, and natural scenery perfect for camping.
Homeowners in this area can rent out their homes during peak vacation seasons. Of course, there are legal considerations for vacation rental owners. Compliance is key to keeping a consistent rental business.
If you have a second home or enjoy traveling to other regions for vacation, you can generate side income with vacation rentals. This area also presents a lucrative opportunity for building a vacation rental portfolio, generating enough revenue to buy even more rental properties.
Learn more about rental property compliance so that your cash flow doesn't skip a beat!
Follow All Vacation Rental Laws
Renting out a vacation property isn't as simple as posting a real estate listing.
Your rental must reflect your state's short-term rental regulations for the following checkpoints:
- Health and Safety
- Monthly rent pricing
- Capacity (maximum, overnight, etc.)
- Property registration
It's important to follow your state legislature for any changes to regulations.
For example, Florida passed a bill that limits overnight capacity to just two people per bedroom. Only two people can stay overnight in a living room, with the same rule applying to other common areas like family rooms. The bill also mandates that each guest have at least 50 square feet to themselves.
Property Rental Legal Requirements for Marketing
False claims in marketing material can also land you in hot water with rental regulations.
It's important to accurately represent your rental in photos, videography, listings, amenities, location, and monthly rates. Don't commit a "bait and switch" which lures guests in with one price only to bill them with a higher amount. You can't increase the amount every month; the price must reflect the lease terms.
Don't publish false reviews about your rental. Each review should be from real guests with real experiences.
Potential Vacation Rental liabilities
You must consider all potential liabilities before listing your short-term rental for rent.
Think about costly property damage like exterior facade damage, uprooted landscaping, broken HVAC systems, burst pipes, washing machine flooding, and other issues. You need a reliable maintenance protocol that fixes these issues before renting and during a guest's stay. Guests also need an easy maintenance request system, like an online portal, that lets them submit, track, and receive service calls quickly.
Neighborhoods can also be affected by poor maintenance; HVAC gas leaks, odor-causing garbage, and loud noises can negatively impact neighbor relations.
The above problems speak to the importance (and urgency) of good guest placement practices like background checks.
Follow Legal Considerations for Vacation Rental Owners
Don't land yourself (or your property) on the wrong side of Florida's short-term rental laws. Discuss the above issues with a real estate lawyer before moving forward with your rental.
It may also be time to hire a property management company.
The team at PMI Trust understands all legal considerations for vacation rental owners. We have extensive experience in real estate business and software to optimize your revenue strategy. Our strategy is supported by our commitment to extraordinary guest experiences.
Book a consultation to learn more about our team.
