Is a vacation rental a smart investment in the Keys?
Short Answer
Vacation rentals in the Florida Keys can be a strong investment, but the returns depend heavily on location, rental regulations, property type, and management strategy. Properties in areas that allow short-term rentals (7-day minimums) generally offer higher income potential than those restricted to 28-day minimums. Waterfront properties with dockage command premium nightly rates.
Steve's Advice
Steve Conley
Principal, Conley Sales Group at COMPASS
I have helped many clients build successful vacation rental portfolios in the Keys. The key is buying in the right location -- Marathon and Key Colony Beach allow 7-day minimums, which drives much higher occupancy and revenue. But be realistic about the costs: management fees, cleaning, maintenance, insurance, and seasonal vacancy all eat into your gross revenue. I run a full pro forma analysis for every investment buyer so they know the numbers before they commit.
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