In recent years, short-term rentals have created a booming business for many while creating headaches for others.
Collier County is no exception to this debate. Legislation proposed in 2019 came under heavy fire after prohibiting rentals for periods shorter than six months. New consequences include daily fines for those who continue to rent out properties on a daily or weekly basis.
Advantages of short-term rentals
A major reason why many people decide to move into the short-term rental field is the ease and convenience of the additional rental income. This, in turn, contributes to tourism dollars in the local economy.
Especially in areas like Naples that attract the snowbird population, vacation rentals boost income for renters with minimal effort from the homeowner. Short-term listers often do not have to advertise their properties, instead using it as a passive income stream when the property would otherwise be empty.
Typically, snowbird rentals tend to last for two to three months. Collier County wants to find a balance that still lets snowbirds winter in Florida’s warm climate while discouraging disruptive short-term rental situations.
Disadvantages of short-term rentals
On the other hand, those who live in neighborhoods with many short-term rental properties have complaints. In Collier County, the number of complaints about vacation rentals almost doubled from 2017 to 2018. Common issues include:
- High noise levels
- Parking concerns
- Lowered property values
- Vandalism and/or trash in the neighborhood
Those who list on short-term rental sites have also shared concerns about the short-term rental field. While the rental sites do not require licensing to join, many also seem to avoid handling complaints. There are often few ways to go after a renter who causes damage to a property and even fewer to report a property that does not match the description.
Those who would like to join the short-term rental market should carefully consult local condominium regulations and any limitations in the lease agreement.