Where to Buy Rental Property Investments in Sarasota, FL
Posted by Bill True on
Sarasota, Florida attracts many visitors, vacationers, and retirees annually, making it an ideal location for your rental property investment.
Choosing the right area for your investment real estate will depend upon whether you plan to rent it out seasonally or annually. Downtown Sarasota offers attractive waterfront condos and townhouses facing Sarasota Bay. Sarasota Beachfront condos and townhouses are all located on three of Sarasota's Keys: Siesta Key (south of downtown); Lido Key (right across the Ringling Bridge); and Longboat Key (north of downtown). Sarasota's Bird Key and Casey Key have only residental homes, and therefore, are not appropriate for rental property investments.
Buying Sarasota Real Estate for Annual Rentals
If you're purchasing a property for annual rentals, Sarasota Bayfront and downtown condosrent well to those who want easy access to beaches and boating, as well as the arts and culture of downtown Sarasota. With a variety of rental policies, community rules, and available properties, our exclusive buyer agents at True Sarasota Real Estate can target the best options for you on the market today.
Buying Sarasota Real Estate for Seasonal Rentals
If you're purchasing a property for seasonal rentals, a beach condo or townhouse villa would make an excellent choice. Sarasota's "season" officially runs from November through April, with the heaviest concentration of tourists and snowbirds here from January through April. At this time, many are seeking rentals of 1-4 months, particularly on Siesta Key, Lido Key, and Longboat Key.
Siesta Key Beachfront Real Estate
Location. World-renown Siesta Key Beach has a casual (tiki bar, t-shirt and flip-flops) vibe. Here the beaches are large and expansive, and boast sugar-white sands. Siesta Key Beach, which continually receives accolades, is a premier vacation destination, and due to its ongoing popularity, the beach can become crowded during season. Siesta Key Village offers a nice variety of outdoor dining and live music venues.
Rental Policies. Many condominium complexes on Siesta Key have on-site management to handle rentals for owners. Bear in mind that these types of condos usually cannot be financed. Most rental policies require 2-week minimums and up, and there is rarely a vacancy during season. Some Siesta Key condos can be rented for as little as one night with on-site management running the condominium like a hotel.
Lido Key Beachfront Real Estate
Location. Compared to Siesta Key, Lido Key offers far fewer condominium complexes, and the overall vibe here is more serene. While Lido Key has the same white sands and blue waters as Siesta Key, its beaches aren't as wide, and have a more natural, rustic look with wild grasses and dunes. South Lido Beach Park is a wonderful attraction, where you can lounge on the gulf or bay side, pull up a boat, fish, picnic, even kayak through the mangrove tunnels. Lido Key is also home to St. Armand's Circle, a shopping and dining mecca, and is only about a 5 minute drive to downtown Sarasota.
Rental Policies. Compared to Siesta Key, Lido Key condos and townhouses tend to require longer rental periods: usually one-month minimums, and sometimes, two.
Longboat Key Beachfront Real Estate
Location. Longboat Key, our northernmost Key, has an "exclusive resort" feel to it. Although beaches are public, access is private and very limited here. As a result, residents and renters often have private beaches, directly in front of complexes, all to themselves. Longboat, which is beautifully manicured and landscaped, is very popular for golf and tennis. Less prevalent are diverse shopping and dining options.
Rental Policies. Longboat Key condo rentals usually require at least one month, and some require as high as a three-month minimum.