We wanted to bring your attention to an important legislative development that directly affects the short-term rental industry in Florida. The recent proposed changes to Florida Senate Bill (SB) 714 could have had significant impact on Short Term Rentals in Florida.
Here's a brief overview of SB 714 and how it relates to your short-term rental operations:
- Increased Transparency and Communication: SB 714 places emphasis on clear communication between property owners/managers and their guests. It would have required rental property owners to provide guests with essential information such as contact details, emergency procedures, and local regulations. Neptune Vacations is already a head of the game on these. We provide them our business phone number in messages that are sent to the guest prior to arrival. Our guest house manual has emergency procedures listed in them to include hurricane procedures. We also post required local regulations in our guest house manual.
- Safety and Security Measures: The bill emphasizes the safety and security of short-term rental properties. It introduces guidelines for fire safety equipment, including the installation of smoke detectors, fire extinguishers, and carbon monoxide detectors. Neptune Vacations already performs regular inspections of safety equipment like smoke detectors and fire extinguishers. Some insurance companies that specialize in Short Term Rental Insurance(such as Proper Insurance) offer discounts in the property is inspected frequently and there is proof of the inspections.
- Neighborhood Compliance: SB 714 also addresses concerns about the impact of short-term rentals on residential neighborhoods. It allows local governments to implement certain regulations and restrictions to preserve the character and quality of the community. Neptune Vacations cares deeply about our neighbors. We monitor noise levels at all of our listings using a decibel monitoring system called Minut. We also ensure guests are aware of where to place their trash, where to park, and if there are any quite hours.
- Licensing and Taxation: The new bill reinforces the requirement for short-term rental properties to obtain the necessary licenses and permits. Compliance with state and local tax laws is also crucial. Though it was already a rule for most Short Term Rentals to have a license though the Florida Department of Business and Regulations and to pay state and local tax, there was an addition allowing local governments to also require a local license (capped at $150 per year).
- Requirements for Advertisers: This bill also had language in it that would require Advertisers of STRs (sites like Airbnb and Vrbo) to verify that the owner of the STR was licensed at that the license was active. It would also require them to verify that the license is active. Most likely this is the reason that Airbnb encouraged all of its owners to appose the bill. Neptune Vacations already requires all of its owners to be licensed thought DBPR.
As your trusted short-term rental management company, Neptune Vacations is committed to assisting you in navigating these changes brought about by SB 714. We will continue to ensure that your rental property remains compliant.
We understand that adapting to regulatory updates can be overwhelming, but please remember that when that day comes, we are here to support you every step of the way. Should you have any questions or require further clarification, please don't hesitate to contact us. Our aim is to help you maintain a successful and legally compliant rental business.