Florida Takes Aim at AirBnb
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- Опубліковано 9 бер 2024
- Short-Term Rentals are under scrutiny in Florida as they follow several other states in introducing regulation on STRs such as Airbnb, VRBO ECT.
At the same time the FTC weighs in on the potential rent collusion and price fixing case going on nationwide. This has been deemed to contribute extremely to the housing crisis.
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Links:
www.ftc.gov/business-guidance...
www.flsenate.gov/Session/Bill...
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Ben Grieco
Broker Associate
Call/Text: 845-674-5290
Email: BenFloridaAgent@gmail.com
SL# 3330499
Coldwell Banker Sunstar Realty
2825 Tamiami Trail, Punta Gorda, FL 33950
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AirBnB owners should be required to provide all adjacent properties a telephone number that can be used to reach owners 24 hours a day. There is no reason that AirBnB owners should be able to sleep peacefully through the night while the homeowners next door are kept awake literally all night long by loud parties. This was a HUGE problem in my quiet neighborhood.
You don't own quiet because you bought a house fyi
The Airbnb market is saturated. The prices and fees are now making it more cost effective and convenient to stay at a hotel.
The info on price fixing collusion is ugly, hope the prosecution is successful!
Hotels are extremely high in Florida they are trying to catch up of loses during Covid.
@@margaretwilliams8627 I think a lot of Airbnb owners are trying to recover their covid losses as well... in addition to the higher cost of mortgage payments if they have adjustable rate financing on their property. Between property owners and the rental apps and the crazy fees and rules... staying at a hotel has become much more attractive to me lately.
If anyone pay $550K for a home it should have a pool,barn and other bells and whistles on no less than 2 acres!!!!
Sadly not in south FL these days. $550k only gets a small condo in miami these days.
F Airbnb!
I LLLLLLOVE AirBnb saves me a lot of $$$$$ compared to overpriced hotels. If you suffer because of that, not my problem. Isn't that how Conservatives think? I"m a PROUD LIBERAL BTW....SO DARN PROUD Go Mob Go!
@@toordal False flag...
Those houses are so close to each other...looks like army barracks
Really lush too 😂
This is how ALL housing looks in Florida my out of state friends!!
And when you use your garage door opener a few garage doors open ;-).
I thought the house was beautiful! Love that large bathroom with nice fixtures. ( I live in an old house from the 1950s so no such luxury. ) Wonder how much it sells for? As for all that inventory, and land being scraped to dirt to make even more.. well, you heard Brandon the other night saying $400/month cash payments to new home buyers for 2 years. And God knows how much other cash they will give to special groups. The government is here to help again. Until they aren't! Watch out for your prices if we don't re-elect the 'big guy'.
New developments in Florida lack creativity.
DO NOT DO BUSINESS WITH TAYLOR MORRISON!!!!! I have clients (vendors) that have been screwed left right and center from TM. Their M.O. is to get a project or work done 80-90% then stop paying the vendors and try to get discounts from other vendors to complete it! They do not respect contracts or agreements and their motto is: We have more money than you to go to court, HaHa! I know more than one vendor who has been screwed and put out of business by them.
I own a house I South FL built by one of the many tract home builders. In my experience and those of my friends and family, these builders are all the same: Taylor, Lennar, Divosta, etc. Their business model is churn and burn. They all learned it from the original developers of tract homes in NY and NJ post-WW II, Levitt. Ain’t nothin’ changed in decades. We bought knowing all of that and used the old motto “caveat emptor”.
Sounds like the Trump model of handling subcontractors ;-((. The Art of the Steal.
Ben, Manatee County - and I'm sure others - are already plugged into AirBnB and automatically collect the taxes already. I know in rural Virginia - since there are so few - the people are liable to file with their counties, but I would think most of Florida is already under the same system as Manatee is. You cannot skirt the taxes unless you rent OUTside Air BnB, and that has its own risks.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.
The jobs report says no interest rate cut in my mind.
What are those cookie cutter apartments going to cost each month I wonder?
Damn. All those new trees leaning all kinds of different ways. 🤦🏻♂️
A good indicator of a careless builder.
$550k for that?!?!?!
I had a 6/4/3 built in Pembroke pines for $250k in 2002, and was way nicer and bigger than that.
I would pay $350k for that house and feel like I was getting a fair deal. $550k no way.
007
That’s happening already on the hotel side I rent weekly hotels and sometimes empty but price high all is a algorythym we are f d
My city in Southern California past laws that require abnb’s to pay the same taxes as hotels. I’ve noticed a few that I pass are now being used as regular rentals. Good news.
Many shott term rentals here in SanDiego are beachfront and are vacant during our 4 month winter, such a waste with housing in such short supply here. Just read that the US has ~13 million homes currently vacant.
Manatee County, FL (and I am certain others) already has automatic tax payments from Air BnB to the County for the same as hotels, 11%. I am sure other areas in the country do as well. People may rue the day they applaud AirBnB's are outlawed because those counties are going to make up the tax deficit somehow - from the residents' pockets.
I’ve been seeing a lot of Airbnb houses going on the market for sale. Yay 🙌🙌
Good job Ben, certainty one of the better FL real estate channels on UA-cam. Keep at it!
I appreciate that!
That new construction is shocking
1,200 high income (I assume, who else can afford it?) people move to Florida everyday.
Not helping the vacancy rate, amount of rentals already available is incredible
@steven4315 1200 high income to FL/day……..that was 2021 to 2022 during pandemic, far fewer now especially with home insurance debacle.
Happening in Manatee County as well, one development has 6500 new homes planned on almost 1000 acres. It looks just like that scraped up land in the video at 10:00.
No interest cuts in the near future. If so maybe .25% for the year (2024). Never stay at an AirBnB. They are trashed.
Most HOA ban bnb now, and if they do, there's a mountain of paperwork need to fill out, doesn't worth it
Real Page pricing caused so many vacancies in my 352 unit complex. People would have rather stayed…but couldn’t afford it. Still so many Vacant apartments here. After crazy increases, last December ZERO INCREASE… 👍🏻
How the turn tables
Thanks Ben. Always great info. I always check your channel for new market updates here in Florida (I’m in WPB) Nice house showing, but wow, still way overpriced. Have a great week 👍
Thank you you too!
makes me want to move down there and snag one of those 3-months free deals on a brand new apt. but then again..........nah.
I live in Florida. I however own 5 Airbnb's in Palm Springs CA. It is HIGHLY regulated there. Someone has to physically greet the guests to make sure they are who they say they are. Then you submit the info on a website for the city. If there is a problem the city will give the owner or the company representing the home 20 min to respond to the location. Failure to do so is a automatic $500 fine. You are allowed no more incidents in a rolling 12-month period before suspension of your license. There is a cap of no more than 20% of homes that are short term rentals in a specific area of town. Your license no longer can be transferred to a new owner if you sell the property. I thought it would be a bad thing when it was implemented in 2020 however it keeps the rotten apples out so to speak. Creates jobs for property managers and cuts down on issues for neighbor's. Taxes have to be filed with the city and they can demand to audit your records at anytime.
Wow a 20 minute response time seems crazy. Very interesting on the ground info. I can see what your saying though. I think if implemented it could result in a similar situation here. Only the cream of the crop will stick around. High end luxury stuff will always be in demand in my opinion as well.
Florida's Rental Market is huge . People from all over the world purchase investment properties in Florida specifically for Rental . This thriving Rental Market helps to keep the number of Homes in Florida for sale low and prices extremely high . If your currently Middle Class or a 1st time Home Buyer looking to buy a home ? I would suggest looking somewhere other than Florida .
a simple question... why do American homes look like preassembled blocks sitting on a shelf? Man, what a depressing cookie-cutter way to build your suburban neighborhoods. You couldn't pay me to live in one of those sterile places.
Love the channel, subbed last week. As for the tax man, why not let the "out of towners" pay the man. The owners of the transient license or AirBnB owners are not going to pay. It just gets passed on to the renter. I'd rather have the out of towners pay it. State needs money to operate, but every resident in Florida loves the no income tax. Florida will ALWAYS be a vacation place. The travelers that come to Florida, will always pay the fee. As for the law of the 24/7 coverage, that sounds like a new business for me to start, lol. Heading down from NY, in April, to SGC at the end of April to search for a retirement property.
Thanks for the sub! The thing about no Florida income tax is they get you in sales tax and now the property tax and insurance. Now that you mention the 24/7 aspect I have seen a few "home-watch" companies pop up lately. They keep an eye on your property while you are away. One step down from a property manager. Interesting.
Great content. Condos that allow STR on Siesta Key are not selling to begin with. Now you add additional regulations to the mix, and that will really make things interesting.
I cant imagine folding all the costs of owning in a flood zone at a beach like Siesta key and make a STR marketable. Home insurance, liability insur, flood insur, maintenance, hoa’s, …..yikes.
Thanks Brother! Always appreciate the Sarasota input! Top beach in the country and the condos are not moving is a rough sign.
@danah358 the insurance costs are basically wrapped into the HOA dues, which is mainly why they have doubled in some cases. The price needs to adjust.
Good video, very informative. First good explanation of the senate bill that I've heard
I’m renting a 3BR 2.5BA SFH in The Cove of West Port. Great little subdivision. The construction is non stop. Amazing how fast they can throw these homes up. These are all spec homes with very few if any options you can choose. The 2 car SFH of 2000-2300 sq to homes are just under $400k, incentives are probably on the rise as well.
Nice! Yes you have little to no customization options. Incentive are certainly getting better. Some builders are finally starting to move on price as well around the area.
Jeez.....How many people can SW Florida Accommodate??
""moratorium "" and save their asses
Whatever zoning allows will be built until the baby boomers wave is over.
@@danah358we have decided to extend that wave through the adjustment of border protocols.
Why would I move to FLORIDA when I won't be able to afford home owner Insurance as well as Taxes and Auto Insurance. Doesn't really matter if prices go down if you purchase now you'll loose.
Dont forget the new tax law requring gig workers to be counted as employees and be issued a w2 now may also apply to Airbnb Hosts. That new law starts tomorrow the same day the BTFP ends. Lots of headwinds for airbnb and gig workers who dont file taxes coming. IRS will focus on them because they are bleeding revenue since 70m pple have now transitioned to gig income.
Biden has 98,000 new IRS agents
The ides of March is upon us. We will see!
we can build as many homes as we want ...they will sit there because people can not afford the crazy prices and now the Fee part alone.....and where are all the new (Americans) going to go with no money.they will sit with no one in them and like our Malls get turned into ultra low-income homes.....believe me!
Have read there are ~13 million homes vacant in the US ;-(.
The new folks are given 10000 on debit cards the new California Amigos will be getting up to 20% down payment assistance which never needs to be repaid. All for them none for you
Feel The Love Ben, gave you a like, a share, already subscribed. Renters Rule, and Landlord's Drool. 3 months free rent on a 12 month lease is a real possibility. Or 4 months free rent on a 24 month lease with no rent increase In year 2.
Breaking ground on more apartments is Crazy Scary. Maybe BOGO will be in order. Pay for 6 months get 6 months Free. 😅
Lol thank you my man! The rental situation is starting to make people notice around here. Hopefully everyone can get some relief nationwide!
Good channel.... better than the other guy
I enjoy the information in your videos, but my favorite part is the walk through of the new builds. I live in Michigan and it is nice to get an idea of type of homes are available.
Thank you! I am trying to get a feel if people like me adding that in or not so I appreciate the feedback.
When your camera pans across the lake/pond to those houses, I am reminded of the phrase "cookie cutter"; it's a turn off to see that, at least from that distance, every house looks the same. Speaking of maximizing profits, there's another YT video that states some fast food restaurants are increasing prices when demand goes up. "That will $10 for those fries, mam". "Has the price gone up THAT MUCH?!". "Well, mam, only because there's a long line of customers behind you". "The love of money is the root of all kinds of evil".
Yes Surge Pricing at Wendy's. The backlash was so bad they already walked it back.....for now.
Hey congrats on 8k Ben!
It's been insane down here in the Cape.
Developers are trying to squeeze more marinas and restaurants into some of the remaining protected wetlands in the south and another on the east side. One of the few remaining parks in the city proper. Trying because they haven't gotten approval yet.
I've had the unfortunate experience of having several more friends that have lived here for decades have to leave because of the insurance increase. Not to speak of the few that have just arrived in the last few years and now have to turn around and get outta dodge.
On top of that, between here and Ft Myers we're starting to have the working homeless all over. Entire families now. They go to work and then they live in their minivan out in a neighboring parking lot or underneath the canal bridges. More than I've ever seen. They get shuffled off by the police but then come back and I feel for them. Working homeless next to hundreds of homes available for rent. If it continues we're going to get a service desert as they abandon the state for better opportunities. Then we'll wind up like CA...
I really don't see a quick way out of this for the local speculators because median income is not rising to meet their expectations. I've still got concerns about "the last season" for the retirees that can't afford the 2nd homes down here as we're coming up on when they'll go home. Inventory already isn't moving fast enough to keep up.
Seeing the reversal from the fed on their guidance for 6 cuts down to zero has been interesting.
Caveat emptor regarding a lot of the new construction down in my area as well because from what I've seen, they aren't allowing the foundations to cure even half way.
Keep going! I think you have one of the more informative real estate channels on the whole of youtube because you're sticking to local instead of trying to cover a national scale. With how hyperlocal everything is right now and the differences between neighborhoods right next to each other, I think it's a winning recipe!
Thanks Brother! Always appreciate your check ins! Just terrible stuff man. That is so hard to see, right next to empty rentals no less like you mentioned. The insurance issue is another one. Sorry to hear about your friends leaving. Its getting too wild out there for all the locals.
The fed speaks just to confuse at this point in think.
I always appreciate the support as well and intend on staying in my lane lol. Its hard enough keeping my eye on the whole of SWFL.
Good stuff, Ben! Thanks!
Thanks Mac!
Thanks for another good video. Regarding the new spec home tour of the 4 bed 3 bath leaves me perplexed.
- what is the current typ market for new home buyers? Isn’t the typ south Florida home buyer a couple with 0, 1 or 2 kids that qualifies for far less than $500k?
- it seems to me new homes will be out of reach from the typ home-seeking family as long as builders continue to focus on building luxury housing: granite, stainless, large garages, >3 beds, >2 baths, etc
- aren’t builders courting a very limited supply of high income work-at-home buyers in southwest FL?
- building spec luxury homes in New England, NY or even Miami area would seem reasonable, but in southwest FL?
Thank you! As of 2022 the median age of Charlotte County was 60 years old which flucuates in the top 3 spots for Oldest County by age in the nation frequently. We are mostly retirees down here. I believe you are correct in that they are over-estimating the median salaries for the area, but that community does have many homes in the $300k range as well from other builders. We will have to see if the demand is there.
I still see landlords rely on traditional "for rent" signs, as some may lack online listing skills, but they are employing ai for price fixing? Interesting.
Great video!
Thank you!
That bill does nothing
I love your content and energy Ben KEEP IT UP !!!!
Thank you! Will do!
Ty
Thank you but no HOA, move on. I will never buy any property when somebody tells me what I cannot do on my own property HELL NO> Even for free is HELL NO>
Its typ much more than that, its the shared costs of all the add ons like community pool, pool house, playground, liability costs of common areas, etc.
@@danah358Regardless, I would never buy any HOA properties, and I own 57 properties. My Choice not yours. If you want to give your money away, it is your choice. Good luck.
I am enjoying your videos thanks
Thanks for watching!
The amount of new builds going up here in PC is astounding to think about. If all the units projected to be completed in the next year go on to be fully occupied, how many people does that represent? Who is expected to rent/buy all that inventory? What percentage/number are expected to be new Charlotte county residents? How many more cars on the roads, but all year long instead of for only a few months? 😬 I would not be looking forward to that, no matter how inevitable.
Florida will continue to have housing boom and busts as it always has.
They are projecting 30,000 new residents by 2028 for Charlotte county I believe. 776 and the Punta Gorda Bridge are going to need an overhaul. The lights on 41 in PC are a joke right now so I hope they work on that as well. Perhaps re-consider the service road.
Finally!
Exterior sound muted sounds less natural with your outdoor surroundings
Noted. Ill try one "all natural"
Can you talk about pros and cons of moving to south carolina. Im in oklahoma and looking to move
But, I don't live in South Carolina?
@bensellin you mentioned many times your customers are selling and moving to South Carolina. Maybe some reasons why
Did no one see Psycho? Garage door by my shower? Are you out of your mind?
Lol in fairness its several doors removed to the shower but I get it.
@@bensellin That movie ran deep.
It's NOT a Master Bath. Primary.
❤❤❤❤❤❤❤❤❤❤
NYC is one the hottest housing markets in the country , same as every cycle , happens every time , Florida is great, but its market is cyclical , you want solid profits , you have to buy in places like NyC and don’t get fooled by that fake news
not worth the B S
Agree with you 1000%!!, NYC is a very solid market, especially North Queens $$$
NYC is great but the draw of warm weather and no state tax is a huge draw for the boomers.
Good to see air b&b and Venture capitalist companies destroyed the rental market, here is sw fla for
working families and retirees, thats an expensive shoe box
I would agree with that, but you can’t rule out the people from the northeast and California that have way overpaid and forced locals out. Plus they’re just making the area horrible from a vibe perspective. You can watch him for about five seconds, and then I ask them what part of the northeast they’re from and they proudly tell me and it’s usually New York, New Jersey, Connecticut, Philly or Massachusetts. They’re all proud. They don’t understand. It was actually an insult.
I really don't understand why Florida doesn't want rental properties. It brings in most of the income to an area that has few good paying jobs. Restaurants and other tourist types of business will suffer as the landlords move out and so will all the employees.
Big difference between short term rentals and long
@@meerkatmanorjr.2085 yeah short term rentals keep the tourist industry alive
We have had a healthy short term (seasonal) rental market for years that operated above board. When the pandemic hit, and we ended up being one of the only states open, everyone with a few thousand dollars rushed here and bought up all the property to turn into short term (daily, weekly) rentals. It crushed our housing supply and shut out our local population and workers from both purchasing and renting. Rents went from 900-1800 a month for a 2 bedroom in a matter of months. Houses, we'll you know.
@@bensellin I paid 1500 a month for a two bedroom 25 years ago in Fort Lauderdale .
Well good thing you're not a voter in florida.