It’s no secret that our islands of Sanibel & Captiva attract a number of vacationers each year, especially during the winter months when the weather is often sunny and 75! Vacationers need somewhere to stay. Hence why vacation rental homes are the most common type of investment property here on island.
Besides Vacation Rentals…
In past articles, we’ve highlighted, “What Makes A Great Vacation Rental Property on Sanibel.” It’s a great resource that outlines the types of vacation rental properties that do well on island. But that’s not what we’re discussing today.
Besides vacation rentals, there are a few other types of investment properties that are in demand. Here are a few that come to mind…
Seasonal Snowbirds – You’ll be surprised how many requests we get for monthly rentals of both single family homes and condos on island. Most come from snowbirds, who migrate south for the winter and stay a few months until they return back north in the Spring. Since single family homes on island are restricted to a 30-day minimum rental, there’s ample opportunity to rent your home to these seasonal visitors.
Long-Term Leases – If the number of seasonal snowbirds didn’t surprise you, maybe the number of long-term leases will! While our islands don’t get as many people seeking an annual rental as say the Fort Myers area, it does happen from time to time. Usually the need is for someone in transition of buying or selling their home, or even someone who works island and is looking for a shorter commute.
Summer FL Locals – While most of our vacationers come in the Winter, we do have a few visitors that brave the heat on the beach during the Summer months. Most of these visitors are actually Florida locals coming from the east coast of the state, seeking a relaxing weekend getaway. So keep this in mind when thinking about investment properties and what to do with them in the “off-season” as we refer to Summer.
Off-Island Options – Maybe you want to switch it up completely and consider investing just off-island. While the Greater Fort Myers area has many of the same snowbirds and winter vacationers, they also have two decent-sized colleges that provide an investment opportunity.
There’s Florida Gulf Coast University and Florida Southwestern State College, which average about 15,000 students and 8,000 student enrollment respectively… not to mention the ~1,800 staff employed as well!
These are just a few ideas to get your wheels spinning when thinking about investing in real estate here in Southwest Florida. While the most common type of investment is the vacation rental home, you don’t have to limit yourself to a high-turnover condo on the beach to find success with your investment property.