What's Happening to Florida's Short-Term Rental Scene
Skift Take
Studying the short-term rental market in Florida should be a required reading for everyone invested and interested in the industry. Here are some critical issues investors face.
Happy Tuesday, folks! Welcome to a brand new week.
For Skift.com this week, I've published reporting and analysis on Florida’s short-term rental market (your feedback is welcome and wanted,). The key takeaway: Demand is up, but so is supply, and costs have surged. That's pressuring revenue and taking a big bite out of profits. Still, there's a lot we didn't get to in that article. Studying the short-term rental market in Florida should be a required reading for everyone invested and interested in the industry. Here are some critical issues investors face:
If the cost of living in Florida doesn’t fall sharply in the near future, short-term rentals will face a severe labor shortage of the maintenance and housekeeping staff. Florida already faces a labor deficit, with 53 available workers for every 100 job openings, placing the state in the "more severe" category of labor shortages.