Top Hollywood Neighborhoods for Airbnb Hosts to Invest in
Welcome to Hollywood, Florida! A hidden gem for Airbnb hosts looking to invest in a vibrant community with a growing tourist appeal. In this article, we’ll explore why Hollywood is becoming a hotspot for Airbnb investments and which neighborhoods are the top Hollywood neighborhoods for Airbnb hosts to invest in.
- Hollywood Short-Term Rental Condos
- Why Hollywood, Florida, is a Prime Location for Airbnb Investment
- Unique Local Tips for Airbnb Guests in Hollywood, FL
Why Hollywood?
Hollywood, Florida, is an appealing destination for Airbnb hosts due to its extensive amenities and a wide array of tourist attractions that cater to a diverse range of preferences and interests.
Explore Airbnb Management Hollywood, FL, by MasterHost
Access to Amenities
Hollywood offers a wealth of amenities that are highly appealing to both tourists and Airbnb hosts. These amenities enhance the desirability of properties and can significantly influence a guest’s stay experience:
Beaches: Hollywood’s coastline is famed for its accessibility and beauty, especially Hollywood Beach, renowned for its clean sands and family-friendly atmosphere. Nearby, Hallandale Beach offers quieter stretches, perfect for those seeking solitude.
Dining Options: The area boasts a rich culinary scene, ranging from casual beachfront cafes like the Broadwalk Restaurant and Grille, where diners can enjoy freshly caught seafood, to upscale dining experiences at places like Sushi Room, which offers a sophisticated taste of Japanese cuisine.
Shopping and Leisure: Hollywood is home to several shopping venues, from the quaint boutiques of Downtown Hollywood to larger shopping malls like Oakwood Plaza, which provide both shopping and entertainment options for visitors.
Tourist Attractions
Hollywood’s year-round sunny weather and engaging attractions make it a magnet for tourists, providing continuous opportunities for Airbnb hosts:
Hollywood Beach Boardwalk: A vibrant, two-and-a-half-mile promenade lined with cafes, shops, and entertainment spots, perfect for a leisurely stroll or bike ride while enjoying ocean views.
Downtown Hollywood: Known for its cultural flair, Downtown Hollywood features murals, art galleries, and the unique Art and Culture Center of Hollywood, which hosts contemporary exhibitions and performances.
Nature and Parks: The Anne Kolb Nature Center offers a retreat into nature with its mangrove trails and observatory, while Topeekeegee Yugnee Park provides expansive spaces for picnics, camping, and sporting activities.
Entertainment and Nightlife: Hollywood doesn’t slow down as the sun sets; the Seminole Hard Rock Hotel & Casino offers thrilling gaming, live shows, and fine dining, while downtown hotspots like Olivia Restaurant & Roof Top at the Circ Hotel provide a vibrant nightlife experience with its stylish ambiance, innovative cocktails, and evenings filled with live music.
These attractions and amenities not only make Hollywood an ideal location for vacationers but also create a robust market for Airbnb hosts, who can capitalize on the high visitor traffic and the city’s vibrant, diverse appeal.
Top Hollywood Neighborhoods for Airbnb Hosts to Invest In
Hollywood, Area 33019: A Prime Location for Airbnb Investments
As part of our exploration of Hollywood, Florida, as a prime destination for Airbnb investments, Area 33019 stands out as an especially attractive neighborhood for hosts. This area encapsulates the essence of Hollywood’s charm, featuring some of the most sought-after amenities and attractions.
Geographic and Cultural Highlights of Area 33019
Area 33019 includes diverse subregions such as North Beach, Beverley Beach, South Central Beach/Hollywood Beach, Hollywood Lakes, and Hollywood Lakes South. These areas are renowned for their scenic landscapes, vibrant local culture, and proximity to Hollywood’s top attractions.
Key Attractions and Amenities in Area 33019
Proximity to Beaches: This area is famous for its accessibility to Hollywood Beach and other nearby beaches, which are major draws for both short-term tourists and long-term visitors.
Rich Culinary Scene: From oceanfront dining at innovative seafood restaurants to intimate bistros offering international cuisines, the dining options in Area 33019 cater to a broad spectrum of tastes and preferences.
Cultural Attractions: The Art and Culture Center of Hollywood, located within this zip code, offers a range of cultural events and artistic exhibitions that attract a cultured crowd.
Airbnb Market Insights for Area 33019
- Average Daily Rate (ADR): $306.5
- Maximum Daily Rate (March): $382
- Occupancy Rate: 60%
- Maximum Occupancy Rate (February): 77%
- Maximum Monthly Revenue (March): $7,600
- Number of Active Rentals: 3,348
- Average Annual Revenue: $55.6K
- Revenue Per Available Room (RevPAR): $184.4
- Weekend RevPAR: $318
- Best Performing Month: March
- Submarket Score: 41
- Average Home Value: $569,982
High Occupancy Rates: With an average occupancy rate of 60%, peaking at 77% in February, Area 33019 demonstrates strong demand for short-term rentals. The peak seasons align with the winter months, attracting visitors looking to escape colder climates.
Revenue Potential: The average daily rate for an Airbnb rental in this area stands at $306.5, with the maximum daily rate reaching up to $382 in March. The potential revenue is robust, with average annual earnings of approximately $55.6K for active rentals.
Property Value: The average home value in Area 33019 is $569,982, reflecting a 0.9% increase over the past year, indicating a stable and growing real estate market suitable for investment.
Diverse Listings: The area hosts approximately 3,348 active rentals, ranging from luxurious beachfront condos to charming single-family homes, offering something for every type of Airbnb guest.
Investment Considerations
Regulatory Compliance: Investors need to ensure compliance with local ordinances specific to short-term rentals, including obtaining necessary licenses and adhering to building standards to ensure guest safety and satisfaction.
Strategic Marketing: Given the competitive nature of the market in Area 33019, hosts should focus on differentiating their listings through unique decor, comprehensive amenities, and personalized guest experiences.
Community Engagement: Engaging with the local Airbnb community can provide valuable insights and support, helping new hosts navigate the initial challenges and optimize their operations.
Description of Each Neighborhood Within the Hollywood, Florida Area 33019
North Beach
North Beach in Hollywood is known for its more laid-back atmosphere compared to the bustling Hollywood Beach. It features less crowded stretches of sand, making it ideal for those seeking tranquility and relaxation. The neighborhood is also home to several parks and natural reserves, where visitors can enjoy activities like bird watching, biking, and picnicking.
Beverley Beach
Beverley Beach is a smaller, exclusive area known for its luxurious beachfront properties and high-end living. It attracts affluent tourists and residents alike, offering pristine beach experiences and privacy. The neighborhood is perfect for Airbnb hosts who cater to guests looking for a more secluded and upscale vacation experience.
South Central Beach / Hollywood Beach
South Central Beach is synonymous with the vibrant Hollywood Beach Boardwalk, a hotspot for tourists and locals. This area is bustling with activities, shops, restaurants, and bars, all along the scenic oceanfront. Hollywood Beach itself is famous for its broad, sandy shores and is a family-friendly destination with numerous beachfront parks, playgrounds, and biking paths.
Hollywood Lakes
Hollywood Lakes is a picturesque residential neighborhood characterized by its historic homes and serene lakes. The area is slightly inland but still offers easy access to Hollywood Beach. It’s popular among families and those who appreciate a quieter, suburban feel while still being close to the city’s main attractions. The lush, tree-lined streets and proximity to golf courses and parks make it a charming area for Airbnb rentals.
Hollywood Lakes South
Hollywood Lakes South shares many of the same characteristics as its northern counterpart but is closer to the downtown area, providing quicker access to urban amenities and entertainment options. The neighborhood combines the tranquility of Hollywood Lakes with the convenience of urban living, making it ideal for guests who desire a mix of both leisurely and city activities during their stay.
Each of these neighborhoods offers unique attributes that can appeal to different types of guests, from those seeking peace and privacy to those eager to explore the lively local culture and entertainment. Airbnb hosts can leverage these characteristics to market their properties effectively, catering to the specific preferences and expectations of their target audience.
In conclusion, Area 33019 in Hollywood, Florida, represents a highly lucrative opportunity for Airbnb hosts. With its blend of beautiful natural settings, dynamic cultural sites, and strong market performance, it’s an ideal location for investors looking to capitalize on the thriving tourist economy. Whether targeting the luxury market with high-end condos or offering cozy family homes near the beach, Airbnb hosts can find great success in this vibrant Hollywood neighborhood.
Hollywood, Area 33020: A Strategic Choice for Airbnb Investments
As we delve deeper into Hollywood, Area 33020 emerges as a strategic choice for hosts. This zip code offers an engaging mix of cultural diversity, economic vitality, and a variety of residential options, making it particularly appealing for both short and long-term stays.
Geographic and Cultural Highlights of Area 33020
Area 33020 is a mosaic of unique neighborhoods, each contributing to the overall allure of Hollywood. The area spans from the bustling City Center to the serene settings of Highland Garden, offering a blend of urban and suburban lifestyles.
Key Attractions and Amenities in Area 33020
Diverse Residential Options: From modern apartments in City Center to spacious, family-friendly homes in Hollywood Lakes West, Area 33020 offers diverse living options to cater to different guest preferences and budgets.
Accessibility: The area is well-connected by major roadways, providing easy access to both downtown Hollywood and the beaches. This connectivity is highly valued by visitors who wish to explore the wider region.
Local Culture and Entertainment: The City Center is the heartbeat of Area 33020, home to vibrant festivals, street markets, and cultural performances that draw crowds throughout the year.
Airbnb Market Insights for Area 33020
- Average Daily Rate (ADR): $246.5
- Maximum Daily Rate (March): $277
- Occupancy Rate: 54%
- Maximum Occupancy Rate (March): 66%
- Maximum Monthly Revenue (March): $4,800
- Number of Active Rentals: 850
- Average Annual Revenue: $39.4K
- Revenue Per Available Room (RevPAR): $134.5
- Weekend RevPAR: $261
- Best Performing Month: March
- Submarket Score: 68
- Average Home Value: $398,892
Occupancy and Revenue: With an average occupancy rate of 54%, peaking at 66% in March, Area 33020 shows robust demand. The area’s Airbnb hosts enjoy a healthy average daily rate of $246.5, with potential monthly revenue peaking at $4,800 during high season.
Investment Growth: The average property value in the area has risen to $398,892, an increase of 7.9% over the past year, signaling a strong and appreciating real estate market that is ideal for investment.
Market Saturation and Potential: With 850 active rentals, the market is competitive yet still offers significant room for growth and differentiation through unique property offerings and exceptional guest experiences.
Investment Considerations
Regulatory Environment: Investors in Area 33020 need to navigate the local regulatory landscape effectively, ensuring compliance with zoning laws, occupancy rules, and tax obligations to optimize their operations and avoid potential setbacks.
Marketing Strategies: Given the competitive nature of the market, hosts should focus on marketing their properties through high-quality listings, accurate descriptions of local attractions, and leveraging social media to reach potential guests.
Community Involvement: Engaging with the local community and other Airbnb hosts can provide insights into guest preferences and market trends, which can be invaluable for adjusting business strategies and improving guest experiences.
Description of Each Neighborhood Within the Hollywood, Florida Area 33020
Liberia
Liberia is a vibrant neighborhood with a rich history and a strong sense of community. It is known for its cultural diversity, with a mix of residents from various backgrounds contributing to a lively local culture. The area hosts several community events throughout the year, which fosters a strong neighborhood bond. Liberia is appealing to guests who appreciate a genuine sense of place and community engagement.
Royal Poinciana and Royal Poinciana South
These adjacent neighborhoods are known for their tranquil streets and family-friendly atmospheres. Royal Poinciana features well-kept homes, lush landscaping, and access to good schools, making it ideal for families. Royal Poinciana South shares similar traits but is slightly more secluded, offering more privacy and larger properties, which are often sought after by guests looking for a quiet, upscale retreat.
Hollywood Lakes West and Hollywood Lakes Southwest
Hollywood Lakes West combines the serenity of suburban living with close proximity to Hollywood’s downtown area. It features picturesque views of the nearby lakes and ample green spaces, making it ideal for outdoor activities. Hollywood Lakes Southwest extends this serene living environment towards the south, providing quieter residential streets and easy access to both the vibrant city center and natural landscapes. Both neighborhoods are perfect for guests who seek a balance between relaxation and city life.
North Central Hollywood and North Central on Hollywood West
North Central Hollywood is a dynamic area that serves as a bridge between the more residential sectors and the bustling downtown. It offers a mix of residential styles, from older, more affordable homes to newer apartment complexes, catering to a diverse population. North Central Hollywood West extends this diversity, with additional amenities like local cafes, shops, and small parks, enhancing its appeal for both short and long-term stays.
Fillmore St / N 24th Ave
This neighborhood is characterized by its historic homes and mature tree-lined streets, offering a picturesque setting that captures the charm of old Florida. The area is well-known for its arts scene, with several galleries and studios that host local artists and artisans. Its proximity to major thoroughfares makes it easily accessible, yet it maintains a quiet, residential feel.
Highland Garden and Highland Garden East
Highland Garden is a quaint neighborhood known for its small-town vibe within the bustling city. It features modest single-family homes, community parks, and an active neighborhood association that organizes regular events. Highland Garden East extends these features with slightly more modern housing options and additional recreational areas, making it ideal for families and those who enjoy community-oriented living.
City Center
As the economic and social hub of Hollywood, City Center is always buzzing with activity. It offers a wide array of dining, shopping, and entertainment options. High-rise apartments and modern condo complexes dominate the housing landscape, appealing to young professionals and those who thrive in a vibrant urban environment. The neighborhood’s central location makes it ideal for tourists who want to experience Hollywood’s dynamic culture and nightlife.
Parkside and Parkside South
Parkside is known for its lush landscapes and spacious park areas, which provide a peaceful retreat from the urban hustle. The neighborhood features a mix of housing styles, from charming bungalows to newer townhomes, suitable for a variety of guests. Parkside South shares these characteristics but is closer to Hollywood’s major parks and recreational facilities, offering ample opportunities for outdoor enthusiasts and families.
Area 33020 in Hollywood, Florida, is a compelling location for Airbnb investments, offering a rich mix of cultural, economic, and residential diversity. This area’s dynamic market and potential for high returns make it an attractive option for investors looking to capitalize on Hollywood’s growing tourism and residential demand. Whether catering to short-term tourists or long-term residents, Airbnb hosts in Area 33020 have a wonderful opportunity to thrive in this vibrant community.
Hollywood Airbnb Investment Insights
Local Regulations Overview
Hollywood, Florida, has a structured set of regulations for short-term rentals designed to ensure community harmony and compliance. Here’s a succinct overview of key points every potential Airbnb host should understand:
City Code of Ordinances: Short-term rentals are officially permitted in Hollywood but come with specific rules regarding the definition and use of vacation rentals. For instance, each rental must meet size requirements based on the number of occupants, and occupancy limits vary depending on the time of day.
Maximum Occupancy Rules: Every vacation rental must have at least 150 square feet of space for the first occupant and 100 square feet for each additional one. Bedrooms must have at least 70 square feet of space per occupant, with a maximum of two occupants per bedroom.
Licensing Requirements
Operating a short-term rental in Hollywood requires several key licenses and adherence to detailed application processes:
Vacation Rental License Certificate and Certificate of Use: These are fundamental for legally renting out a property.
Business Tax Receipt and Additional Documentation: Hosts need to obtain a business tax receipt and ensure compliance with state and county regulations, including registration for collecting tourist development taxes.
Special Requirements for Different Property Types: Regulations differ for hotel rooms, condo-hotel rooms, condo units, single-family homes, and multi-unit buildings, particularly regarding the issuance of vacation rental licenses and certificates of use.
Building and Housing Standards
The city enforces regulations that outline minimum standards for the construction, design, and maintenance of buildings to ensure they are safe, and habitable and do not negatively impact the community.
Tax Obligations
Hosts must register with the Florida Department of Revenue and the Broward County Tax Collector to handle sales and tourist development taxes correctly.
Noise Ordinance
The city’s noise ordinance is strictly enforced, with quiet hours set from 10:00 p.m. to 7:00 a.m. This ensures that the tranquility of residential areas is maintained, which is crucial for hosts to communicate with their guests to avoid disturbances and penalties.
Understanding and adhering to these guidelines not only helps hosts avoid fines and penalties but also enhances the guest experience, contributing positively to the community and the host’s investment success.
Maximizing ROI
To maximize returns on investment in the competitive Airbnb market in Hollywood, property owners should consider several strategies to make their listings stand out:
Interior Design: Invest in high-quality, appealing decor that reflects the vibrant and tropical ambiance of Hollywood. Stylish, comfortable, and functional interiors can significantly increase the attractiveness of your property.
Modern Amenities: Providing modern amenities such as high-speed internet, smart TVs, a fully equipped kitchen, and air conditioning can make a property more appealing. Additional features, like a dedicated workspace, can attract business travelers.
Unique Experiences: Offering unique local experiences, such as guided tours, bike rentals, or partnerships with local businesses for discounts, can enhance guest satisfaction and lead to better reviews, more referrals, and repeat bookings.
Dynamic Pricing: Utilize dynamic pricing strategies to adjust rates based on seasonality, local events, and demand trends. Tools and software that analyze Airbnb data can help optimize pricing to maximize earnings throughout the year.
Implementing these strategies can help Airbnb hosts in Hollywood not only comply with local laws but also enhance their property’s appeal, thereby increasing occupancy rates and maximizing revenue potential.
The Airbnb Community in Hollywood, Florida
Host Experiences
The local Airbnb community in Hollywood is notably vibrant and supportive, bolstered by a continuous influx of tourists drawn to the area’s charm and amenities. Hosts often highlight several advantages:
High Demand: Hollywood’s popularity as a tourist destination ensures a steady stream of guests year-round, which can lead to higher occupancy rates and potentially higher income for hosts.
Supportive Network: Many hosts in Hollywood report a strong sense of community among local Airbnb operators, who often share tips, experiences, and resources to help each other succeed.
Diverse Guest Base: The variety of attractions in Hollywood, from beaches to cultural venues, attracts a wide range of guests, from families and couples to solo travelers and business professionals, allowing hosts to cater to multiple market segments.
Guest Preferences
Successful Airbnb hosting in Hollywood involves understanding and responding to guest preferences. Data on amenities most commonly included in listings can guide hosts on what to offer:
Essential Amenities: With high percentages of listings offering Wi-Fi (95%) and air conditioning (98%), these are clearly must-have features in Hollywood’s tropical climate. Wired internet, while less common, appears in 99% of listings, indicating a preference for reliable connectivity.
Comfort and Convenience: Kitchens are featured in 89% of listings, suggesting that the ability to prepare meals is important to guests. Washers and dryers are also valued, included in 73% and 67% of listings, respectively, ideal for longer stays.
Parking and Transportation: About 63% of listings offer parking, a significant amenity for guests who rent cars or drive to Hollywood. Given the city’s attractions and the greater Los Angeles area, convenient parking is a major plus.
Luxury and Leisure: Pools appear in 58% of listings, a popular feature for vacationers looking to relax and enjoy the sunny weather. Although less common, hot tubs are included in 17% of listings, offering an additional luxury that can distinguish a rental.
Entertainment: While cable TV is only included in 24% of listings, this might indicate a shift towards streaming services or that guests are less interested in traditional TV offerings while on vacation.
By understanding these trends and preferences, Airbnb hosts in Hollywood can tailor their properties to better meet the expectations of their guests, enhancing satisfaction and increasing the likelihood of repeat bookings and positive reviews. This tailored approach not only meets the direct needs of guests but also positions a listing more competitively in a bustling market.
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Conclusion
In our exploration of the “Top Hollywood Neighborhoods for Airbnb Hosts to Invest in,” Hollywood, Florida, stands out as a vibrant and promising market rich with opportunities for savvy investors. From the iconic Hollywood Beach to the culturally rich Downtown Hollywood, the city offers a myriad of attractions and amenities that continuously attract tourists from around the globe, creating a robust demand for short-term rentals.
Areas like 33019 and 33020, in particular, showcase the diversity and appeal of Hollywood’s neighborhoods. Area 33019, with its pristine beaches and upscale dining options, is perfect for hosts aiming to attract luxury-seeking tourists. Conversely, Area 33020 offers a slice of Hollywood’s urban culture, appealing to a broader audience with its vibrant arts scene and accessible residential areas.
For those investing in Airbnb properties, understanding the local landscape—including regulatory compliance and market trends—is crucial for maximizing returns. Engaging with the community and building local partnerships can elevate a host’s success, foster repeat business, and enhance guest experiences.
Hollywood, Florida, is indeed a fertile ground for investment, exemplified by its varied neighborhoods that cater to different visitor preferences. By strategically positioning their properties in “Top Hollywood Neighborhoods for Airbnb Hosts to Invest in,” hosts can tap into a thriving market, ensuring both profitability and a memorable stay for their guests. Whether catering to the luxury market in Beverly Beach or accommodating family vacationers in Hollywood Lakes, investors can achieve remarkable success in Hollywood’s dynamic Airbnb market.
