Learn about the short-term rental market on Siesta Key and the rules and regulations investors should consider.
Siesta Key is a booming tourist destination most months of the year. Many visitors come to the island to enjoy a short-term rental property, but the rules and regulations regarding short-term rentals can be confusing. In this article, we will explore whether Siesta Key allows short-term rentals and what the rules are.
Short-term rental regulations in Sarasota County
Short-term rentals in Siesta Key are regulated by the Sarasota County Code and the City of Sarasota Code. These codes dictate the length of time that a property can be rented for and the requirements that a property owner must meet to operate a short-term rental.
In Sarasota County, most single family homes have 30-night rental minimums. However, short-term rentals are allowed in certain zoning districts, provided that the property owner obtains a vacation rental certificate from the county. To obtain a vacation rental certificate, the property owner must meet certain requirements, including a safety inspection, compliance with zoning regulations, and payment of a registration fee.
In the City of Sarasota, short-term rentals are allowed in certain residential zoning districts, provided that the property owner obtains a short-term rental license from the city. To obtain a short-term rental license, the property owner must also meet certain requirements, including a safety inspection, compliance with zoning regulations, and payment of a registration fee.
Does Siesta Key allow short-term rentals?
Whether or not Siesta Key allows short-term rentals depends on the location of the property. If the property is located within the city limits of Sarasota, then the property owner must comply with the City of Sarasota Code regarding short-term rentals. If the property is located outside the city limits of Sarasota, but within the boundaries of Sarasota County, then the property owner must comply with the Sarasota County Code regarding short-term rentals.
In Siesta Key, short-term rentals are allowed in certain residential zoning districts, provided that the property owner obtains the necessary permits and licenses from the appropriate governing authority. It's important for property owners to research the regulations that apply to their specific property and ensure that they comply with all requirements.
It’s common for individual neighborhoods, condos, and communities to define their own short-term rental policy. These range from 3-night to 30-night minimums. Many communities allow short-term rentals because the owners wish to make a profit on their property while they’re not there.
Benefits of short-term rentals in Siesta Key
Short-term rentals in Siesta Key can provide a number of benefits for property owners and visitors alike. For property owners, short-term rentals can provide a source of income that can help offset the cost of owning a property in a desirable location. For visitors, short-term rentals can offer a more affordable and flexible option than staying in a hotel.
Short-term rentals in Siesta Key also have a positive impact on the local economy. Visitors who stay in short-term rentals are more likely to shop at local businesses and eat at local restaurants, which can help support the local community.
Conclusion
Whether or not Siesta Key allows short-term rentals depends on the specific location of the property and the rules that apply. Property owners who are interested in renting their property on a short-term basis should research the regulations that apply to their specific property and ensure that they comply with all requirements.
Before purchasing your investment, ask your agent the rules regarding short-term rentals in the neighborhood.