I say this because on multiple occasions I’ve had customers express that they wish to exclude all 1-bedroom condos from their home search. Most of the time they go on to explain that they don’t think a 1 bedroom condo will rent well on island, at which point I have to step in and explain that they’re wrong.
Why 1-Bedroom Units Work on Sanibel
Actually, there are some 1-bedroom rental units that I’ve seen bring in better rental income than other 2+ bedroom units in the same complex. In fact, of the 1-bedroom condo’s currently for sale on Sanibel, a handful of them have rental history reporting $30k-$40k+ gross rental income in one year.
Keep in mind that each condo complex has it’s own rental restrictions, and furthermore, each condo unit’s income fluctuates based on the owner’s usage of the condo. But this gives you an idea of what 1-bedroom condos are capable of generating as far as rental income.
Who Rents 1-Bedroom Units?
While yes, many families vacation on Sanibel, there are also a number of couples, usually empty nesters, that keep coming back to the islands every year. These couples and even small families with young children don’t require multiple bedrooms, and they actually have a hard time finding a 1-bedroom rental home that’s not a hotel.
These are your potential renters!
Don’t Forget Single Family Homes
The same idea can apply to single family homes. While 3+ bedroom homes are nice for large families, there are still homes with two or fewer bedrooms that produce substantial rental income, keeping in mind that single family homes on Sanibel Island have a 28 day minimum rental restriction.
I’ve said all this to help open your mind in your quest for finding a good rental home on Sanibel and Captiva Islands. Don’t completely rule out the 1-bedroom condo units or 2-bedrooms homes on Sanibel. They can produce great rental income too!
If you have questions about a specific home for sale or rental restrictions for a certain condo complex, don’t hesitate to reach out. Our Sanibel Condo Guide is a great resource as well!