Is Coral Springs, Florida Good for Airbnb Investment?

To start an Airbnb in Coral Springs, Florida, begin by researching local regulations as the city requires short-term rental operators to obtain a business tax receipt and comply with zoning ordinances that typically restrict rentals to properties in commercial or mixed-use zones, while residential areas may have limitations on rental duration (often requiring minimum 30-day stays). Contact Coral Springs City Hall at 954-344-1000 to verify current zoning compliance and obtain necessary permits including a business tax receipt ($25-50 annually) and potentially a Certificate of Use if required for your specific property type. Find a suitable property by purchasing or securing a long-term lease agreement (ensure lease allows short-term rentals) in an area zoned appropriately, focusing on neighborhoods near major attractions like the Coral Springs Museum of Art or close to Fort Lauderdale (15 minutes away). Furnish the property with quality furniture, linens, kitchen essentials, WiFi, cable TV, and safety equipment including smoke detectors and fire extinguishers as required by Florida fire safety codes. Create listings on Airbnb, VRBO, and Booking.com with professional photography highlighting proximity to Sawgrass Mills Mall, beaches (20 minutes to coast), and family-friendly amenities, pricing competitively around $80-150 per night based on local market rates. Manage operations by establishing cleaning protocols between guests, responding promptly to inquiries, coordinating check-ins/check-outs, maintaining property condition, collecting and remitting Florida sales tax (6% state plus local tourist development tax), and ensuring compliance with ongoing city inspections and permit renewals while building positive guest reviews to maximize occupancy rates.

To identify profitable short-term rental properties in Coral Springs, Florida, focus on locations within 15-20 minutes of major attractions like the Everglades, Fort Lauderdale beaches, and Sawgrass Mills Mall, prioritizing neighborhoods with low crime rates and good walkability scores such as areas near Coral Springs Drive and University Drive. Target 3-4 bedroom single-family homes or townhomes built after 1990 with pools, updated kitchens, and parking for multiple vehicles, as these features command premium rates of $150-250 per night in the market. Conduct pricing analysis using AirDNA and Mashvisor to identify properties where potential STR revenue exceeds long-term rental income by at least 40%, typically requiring purchase prices under $400,000 to maintain profitable cash flow. Research competition by analyzing existing Airbnb and VRBO listings within a 3-mile radius, identifying gaps in amenities or pricing, and noting that successful properties in Coral Springs average 65-75% occupancy rates. Utilize tools like Rabbu, BiggerPockets calculators, and local MLS data through partnerships with Coral Springs realtors, while ensuring compliance with city regulations that currently allow STRs in residential areas with proper licensing, and consider properties near corporate housing demand from companies like City Furniture and AutoNation headquarters in the broader Broward County area.

To obtain an Airbnb/STR permit in Coral Springs, Florida, you must first apply through the City of Coral Springs Development Services Department located at 9500 W Sample Road, either in person or online through their permitting portal. Required documents typically include a completed short-term rental application, proof of property ownership or lease agreement with landlord consent, certificate of use/occupancy permit, floor plan showing maximum occupancy, proof of liability insurance ($1 million minimum), contact information for a local responsible party within 30 minutes of the property, and HOA approval if applicable. The application fee is approximately $150-200 with an annual renewal fee of $100-125, plus potential inspection fees of $75-100. The approval timeline generally takes 4-6 weeks from submission of complete application, including required inspections for fire safety, building code compliance, and zoning verification. Coral Springs specific requirements include maximum occupancy limits based on bedrooms (typically 2 guests per bedroom plus 2 additional), mandatory 24/7 local contact person, compliance with noise ordinances, adequate parking (minimum 2 spaces), proper trash collection arrangements, and adherence to the city's 30% cap on STRs per neighborhood block to prevent over-concentration of rental properties.

Short-term rentals (STRs) are currently prohibited in Coral Springs, Florida. The city enacted a comprehensive ban on STRs in residential areas in 2019 following concerns about neighborhood disruption, parking issues, and maintaining residential character. The prohibition applies to all residential zoning districts within city limits, including single-family homes, condominiums, and townhomes, with violations subject to code enforcement fines up to $1,000 per day. Unlike some other Broward County municipalities that allow STRs with permits and restrictions, Coral Springs maintains a complete prohibition with no licensing or registration process available. The city's position has remained consistent since the 2019 ordinance, with no recent changes to allow STRs, and enforcement is actively pursued through the code compliance department when violations are reported.

The best areas for Airbnb investment in Coral Springs, Florida include the neighborhoods near Coral Springs Center and University Drive corridor, which attract business travelers due to proximity to major corporations like Motorola and City Furniture headquarters, as well as families visiting nearby attractions. The Wiles Road and Sample Road areas are particularly attractive because they offer easy access to both Fort Lauderdale-Hollywood International Airport (20 minutes) and popular destinations like Sawgrass Mills Mall, making them ideal for tourists and shoppers. The neighborhoods around Coral Springs Country Club and TPC Eagle Trace golf course appeal to golf enthusiasts and luxury travelers seeking upscale accommodations. Areas near Coral Square Mall and the Promenade at Coconut Creek provide convenient shopping and dining access for guests. The residential districts close to Broward College's North Campus attract visiting families and prospective students, while properties near the Coral Springs Aquatic Complex and sports facilities benefit from youth sports tournaments and events throughout the year. These areas also serve as strategic bases for visitors exploring nearby Boca Raton, Pompano Beach, and the greater Miami-Fort Lauderdale metropolitan area.

In Coral Springs, Florida, Airbnb hosts are subject to multiple lodging and occupancy taxes including the Florida state sales tax of 6%, Broward County tourist development tax of 5%, and potentially additional local municipal taxes that can range from 1-3%. The Florida Department of Revenue requires hosts to register for a sales tax permit and collect the 6% state sales tax on all rental transactions, with monthly remittance due by the 20th of the following month for hosts collecting over $200 annually. The Broward County tourist development tax of 5% applies to rentals of six months or less and must be collected by the host and remitted quarterly to the Broward County Tax Collector's office. Coral Springs may impose additional municipal occupancy taxes of approximately 2-4% which are typically collected through the same registration process with the city clerk's office. Airbnb's platform automatically collects and remits many of these taxes on behalf of hosts in Florida since 2017, including state sales tax and county tourist development taxes, though hosts should verify their specific obligations with local tax authorities. Exemptions generally apply to rentals exceeding six months in duration, rentals to permanent residents, and certain government or charitable organization bookings, but short-term vacation rentals under 30 days are typically subject to all applicable taxes with combined rates potentially reaching 11-14% in total.

The total cost to start an Airbnb in Coral Springs, Florida is approximately $485,000-$565,000. Property purchase costs around $425,000 based on median home prices in the area as of 2023-2024. Furnishing a 3-bedroom property requires $15,000-$25,000 for quality furniture, appliances, linens, and decor to create an attractive rental space. Initial setup costs including professional photography, listing creation, and basic marketing total $2,000-$3,000. Permits and fees vary but typically include a business tax receipt ($50-$100), short-term rental permit if required ($200-$500), and potential HOA approval fees ($100-$300). Insurance for short-term rentals costs $2,500-$4,000 annually, significantly higher than standard homeowner's insurance. Utility setup and deposits for electricity, water, internet, and cable total $500-$800. First six months of operating costs including utilities ($1,200), cleaning services ($3,600), property management software ($300), maintenance reserves ($2,000), and marketing ($1,000) add approximately $8,100. Additional considerations include potential property management fees of 15-25% of revenue if outsourced, and maintaining 3-6 months of mortgage payments as reserves for vacancy periods.

Airbnb properties in Coral Springs, Florida typically generate annual revenues between $18,000-$35,000 for single-family homes and $12,000-$25,000 for condos, with average daily rates ranging from $85-$150 depending on property size and amenities. Operating expenses generally consume 40-60% of gross revenue, including cleaning fees ($75-$125 per turnover), property management (15-25% of revenue), utilities ($150-$300 monthly), insurance ($1,200-$2,500 annually), and maintenance costs averaging $2,000-$4,000 yearly. Net profit margins typically range from 15-35% for well-managed properties, with successful hosts achieving occupancy rates of 60-75% by focusing on properties near Coral Springs' recreational facilities, maintaining 4.8+ star ratings, and targeting business travelers visiting nearby Parkland and corporate centers. Properties within walking distance of Coral Springs Covered Bridge or featuring pools and modern amenities consistently outperform the market, with some three-bedroom homes near the city center reporting annual profits exceeding $15,000 after all expenses, while poorly located or inadequately maintained properties often struggle to achieve 40% occupancy and may operate at break-even or slight losses.

Airbnb investments in Coral Springs, Florida typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on current market conditions. Properties in desirable neighborhoods near Coral Springs' recreational areas and business districts can achieve occupancy rates of 65-75% annually, with average daily rates between $85-$120 depending on property size and amenities. Initial profitability usually occurs within 18-24 months after accounting for startup costs, furnishing, and marketing expenses. The market benefits from year-round tourism demand due to Florida's climate, proximity to Fort Lauderdale (20 miles), and local attractions like the Coral Springs Museum of Art and nearby Everglades access points. Investment properties typically require $40,000-$60,000 in initial capital for down payment and setup costs on median-priced homes around $400,000-$500,000, with monthly gross revenues averaging $2,500-$4,000 before expenses. The timeframe to break-even on initial investment generally spans 3-5 years, while cash flow positive operations typically begin within the first 12-18 months of operation.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors looking in Coral Springs, Florida. Local real estate agents like those at Coldwell Banker Realty, RE/MAX, and Keller Williams in the Coral Springs area have experience with investment properties and understand the local Airbnb market dynamics. National services include Mashvisor, which provides Airbnb analytics and property recommendations, AirDNA for market data and investment analysis, and Awning which offers end-to-end Airbnb investment services including property identification and management. Local property management companies like RedAwning and Vacasa can assist with both finding properties and managing them as short-term rentals. Real estate investment firms such as Roofstock and Arrived Homes occasionally feature Florida properties suitable for Airbnb conversion. Additionally, local real estate investors and wholesalers in the South Florida market often have off-market properties that could work well as vacation rentals, and platforms like BiggerPockets can connect investors with local professionals who specialize in the Coral Springs and Broward County markets.