The Short-Term Rental Playbook

How to Find and Evaluate an STR Property

Not every property makes a good short-term rental. Location, layout, and local regulations determine whether a property will succeed or struggle.

Location factors for STR success:

• Proximity to demand drivers (beach, downtown, attractions, venues, airports)
• Walkability to restaurants and entertainment adds premium pricing
• Low competition relative to demand in the area
• Consistent year-round demand vs. highly seasonal

Tools for STR market research:

• AirDNA: Gold standard for STR data — shows average revenue, occupancy, ADR for any market
• Rabbu: Free STR performance estimates by address
• Airbnb/VRBO: Browse active listings, check pricing and reviews

Key metrics to research: Average Daily Rate (ADR), average occupancy rate, and annual revenue (ADR × occupancy × 365).

Top STR markets: Emerald Coast — Destin, Navarre Beach, Fort Walton Beach, Panama City Beach, 30A. Metro Atlanta — Midtown, Buckhead, Old Fourth Ward, Stone Mountain area.

STR Regulations — The Most Important Due Diligence Step

This is the step most new STR investors skip — and it's the one that can make or break your investment.

What to check before you buy:

• City and county STR ordinances: Many cities have enacted restrictions or outright bans. Call the planning department directly — don't rely on Airbnb's availability map.
• HOA rules: Read the CC&Rs carefully. Many HOAs prohibit STRs entirely. Some allow them with minimum stay requirements, guest limits, or registration fees.

Florida STR regulations: Florida state law preempts some local STR restrictions — but not all. Many beach communities require STR licenses and annual inspections. Tourist development taxes (TDT) must be collected and remitted. Escambia, Okaloosa, Bay, and Walton counties all have different rules.

Georgia STR regulations: No statewide STR law — regulation is local. City of Atlanta requires STR permits and has occupancy limits. Many Atlanta suburbs are more permissive. Unincorporated county areas often have minimal regulation.

The bottom line: Before you make an offer, call the local planning department, read the HOA docs, and verify that a short-term rental is legally permissible. Do not assume.