I wrote an article in 2015 titled, “What Rental Income Can You Expect on Sanibel?” I can’t believe four years have already passed! Since a lot can change in four years, I decided to revisit the subject and update the statistics with more current market data.
My point in researching and writing this article is to help give you an idea of how much gross rental income a condominium on Sanibel can generate as a vacation rental home. But, there are a lot of factors at play in each situation.
Earnings vary based on:
- Daily, weekly or monthly rental restrictions
- Condo complex amenities
- Interior condition and decor within the unit
- Marketing of the vacation rental unit
- Owner’s use of unit
- Economic market conditions
- Environmental and natural disasters
… Just to name a few.
Updated Rental Income History
I did a quick survey of the condos that sold on Sanibel between October 2017 – October 2019, and reviewed any rental history provided by each listing agent. The highest reported gross rental income was $80,000, while the lowest was $14,000.
Note that these numbers are based on *reported* gross income. Many of these units had significant owner use, which cuts down on the total income of the property. The gross income does not include any commission paid to a management company, cleaning fees or maintenance costs.
2016 Reported Rental Income
Reported rental income for 2016, broken down by the price range of the condo units on Sanibel Island.
2017 Reported Rental Income
Reported rental income for 2017, broken down by the price range of the condo units on Sanibel Island.
2018 Reported Rental Income
Reported rental income for 2018, broken down by the price range of the condo units on Sanibel Island.
You can look at my previous article to compare the difference between rental income reported in 2013 and the charts above. Click here to read my original article “What Rental Income Can You Expect on Sanibel?”