An Expert’s View on Florida’s Vacation Rental Industry

Florida's vacation rental market with its estimated 400,000 units is considerable in size and the largest in the United States. Over 45,000 Airbnb hosts and numerous vacation rental companies cater for over 126 million visitors each year. With 43 lucrative vacation rental markets and consistently good weather, the sunshine state is a popular holiday destination and a near safe-bet for anyone wanting to invest in short-term rentals in the US, according to AirDNA. Today on the CertiStay blog, we are speaking to Denis Hanks, Executive Director of the Florida Vacation Rental Management Association (FVRMA). He has been leading the membership organization since 2014 and is an expert in the Florida vacation rental industry. 1. Thank you for taking the time to answer some questions for the CertiStay blog. First, of all what does the FVRMA do? Thank you for having me on the blog! I am the Executive Director of the Florida Vacation Rental Management Association, which educates, advocates, and supports the Florida vacation rental market through lobbying, publications, and industry events. We started as a fully volunteer-run operation over 25 years ago and have now grown into the largest state-wide vacation rental association in the United States today. We currently support hundreds of vacation rental owners, managers, and industry partners that operate tens of thousands of Florida homes. 2. Can you tell us how important the vacation rental industry is to the state? Visit Florida, the state’s marketing agency for tourism, identified that almost 50% of Florida’s 126 million tourists annually stay in something other than a hotel. In a 2019 polling by Mason-Dixon, 93% of Floridians said that the short-term rental industry was “very” to “somewhat important” for the local economy. I agree and believe