Luxury House For Sale In St Petersburg Fl

[Jay1604]

I have a friend that will be selling his Luxury 7000 sq ft 5 Bed 5 1/2 Bed Open Waterfront Pool. Home in St Petersburg Fl on just under an acre lot.  What would be the best way to market this unique situation?  It has very few stays left for 2021 and brings in $1100-$1600 a night...the owner has been approached to do experiences...Weddings, Graduations, Birthdays etc which would warrant more ($10-$15k a weekend) but has not really entertained that option...Is there a company or business that buys this sort of property?  Any help would be appreciated.  Price will be in the $4.5-$5 million range.

[Ann72]

@Jay1604  Are you planning to disclose the City of St. Petersburg's restrictions on short-term rentals?

"For residential properties within the City of St. Petersburg, short-term rentals (durations of less than 30 days) may only be rented a maximum of three times within any consecutive 365-day period."

https://www.stpete.org/planning_zoning/docs/Short%20Term%20Rentals%20-%20Transient%20Accomodation%20...

[Jay1604]

@Ann72 , Thank you...I am aware of the St Petersburg Restrictions and I'm sure my friend, who is an honest guy, will disclose that.  Also I would assume someone spending that kind of money would have representation that would figure that out during their due diligence period...the purpose of the post was to merely find out if there are companies or businesses out there that purchase such properties so I can tell him where to market...thanks for the reply and have a great Memorial Day!

[Sarah977]

@Jay1604  One thing to realize is that if this property is being entertained to use as an event venue, Airbnb isn't the right platform for that. It should be listed on an event venue site, which will put it in a different category as far as the short term rental regulations.

[Ann72]

@Sarah977 @Jay1604  Yes, Peerspace might be a better platform for such a venue.  But to answer Jay's question, if he wants to sell to a company or business that buys this sort of property, he'd want to find a property manager or real estate developer or rental agency who owned some of the properties they managed/developed/rented.  Or sell it to someone who would want to operate it as a licensed hotel/motel in order to comply with St. Pete's restrictions.  Marriott was seeking to expand into the short-term rental market a couple of years ago under the title Homes & Villas by Marriott International.  Their major requirement was that the property be managed by TurnKey, and that company sounds like a nightmare - Jay, just search "turnkey" above and you'll see quite a parade of horror stories.  However, it's possible Marriott has contracted with another company or abandoned the idea altogether.