When you aren’t living in your Clearwater Beach condo you may think that it’d make sense to rent it out to someone else. Unfortunately, the city’s code makes it so that you must rent it out for a minimum of 30 days. While this is the “default minimum,” a condo association can set its own rule – mandating anything from no rentals and beyond. This is only one of the many things you need to know before you rush into buying a condo in this area.
What Draws People to Clearwater Beach, Florida
There are many reasons why you might want to buy a Clearwater Beach condo today. Chief among them is that the beach was recently named as America’s best beach by TripAdvisor. This isn’t only because the beach itself is near perfect, but there are also hundreds of other things you can do in this area as well so you’re guaranteed to never get bored.
Facts you Should Know Before Buying a Clearwater Beach Condo
As you “shop” for a condo in this area, there are a few things you should keep in mind, including:
- While it’s legal to rent Island Estate condos for 60+ days, most require a 90-day minimum.
- Sand Key only has two condo complexes that’ll let you rent them for a minimum of 14 days. None will let you rent them for only 7 days. Legally, the beachfront condos will permit 30-day rentals, but most require a 90-day minimum rental.
- There are 7 Clearwater Beach condo complexes that allow 7-day rentals – 5 with beautiful inter-coastal water views and two directly on the beach itself.
If you spend some time looking around, it is possible to find some homes in the northern part of Clearwater Beach that have been grandfathered to allow for 7-day rentals. This is an option if you’re serious about finding a place that will let you offer 7-day short term vacation options for people who are visiting the area.
Why Rental Periods Vary So Greatly
It’s interesting to see such variations in rental periods. This happens for many reasons but the main underlying factor here is that Pinellas County (where Clearwater Beach is located) charges a 12% bed tax for hotels and any rentals that are for a period of less than 6 months. It’s important for you to understand and remember this reason behind the minimum 180-day rental agreement.
Other Options When Renting out a Clearwater Beach condo Won’t Work for You
Condo-hotels (a.k.a. condotel, hotel-condo, contel) are another option if you’re seriously interested in owning and maintaining a property in this area. However, you must understand that this is a different real estate model. These buildings are legally a type of condo but they’re operated in the same way that you’d operate a hotel. As such, they’re required to maintain a front desk and must abide by certain other laws as well.
Buying Property in Clearwater Beach, Florida
Whether you choose to buy a Clearwater Beach condo, a condotel, or some other type of property in this area, you should know that there’s never been a better time to invest in this real estate. People who are selling property in this area today are motivated to do so. This means that if you’re a qualified buyer (able to produce cash or procure a mortgage) you’ll benefit because you can negotiate a great, money saving bargain for yourself.
Regardless of what type of real estate you want to live in while residing in Clearwater Beach, Florida you should contact Clearwater Beach Real Estate. They will be able to help you find a home that meets all your needs – and most of your desires too.