You've decided you want to start investing in short-term rentals but don't know where the best place would be. This is an all too common question that new short-term rental investors ask themselves. Now there are many factors to take into consideration but for the sake of this article, we are going to focus on just the best states for Airbnb and VRBO.
When looking at the states, we have to factor in several important reasons. The first is the amount of Airbnbs or VRBOs available to purchase unless you want to start from scratch. The second is the local and state regulations that affect short-term rentals, not just the current laws but any potential for future limitations. The next big factor is Taxes, w.e love investing in states that don't have an income.
So what are the two best states for Airbnb:
1. Texas has an ample supply of Airbnbs and VRBOs for sale, plus they also have an abundance of great properties that could be turned into vacation rentals in big cities like Dallas, San Antonio as well as beach cities like Galveston.
2. Texas is business-friendly which translates to short-term rental friendly. At the state level, it is run with strong property rights proponents. This isn't true for all the cities in Texas though. Austin has strong STR regulations and is trying to outright ban them in residential areas. Look for cities that are run by strong property rights and constitutional proponents.
3. Texas is one of 9 states to not have a state income tax.
1. Florida has beaches not just along the Atlantic ocean but also the Gulf of Mexico which makes it a great state for tourists. Cities like Miami, Pensacola, Panama City, Jacksonville, Tampa Bay, and outside the city limits of Orlando are all great places where you can find established rentals ready in place to buy.
2. Florida is business-friendly which translates to short-term rental friendly. At the state level, it is run with strong property rights proponents. This isn't true for all the cities in Florida though. Orlando has strong STR regulations primarily due to the lobbying of local officials by the hotel industry in the city. Again it's important to look for local areas that are run by strong property rights and constitutional proponents.
3. Florida, like Texas is one of the 9 states to not have a state income tax.
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