The Florida Vacation Rental Managers Association (FVRMA) recently sponsored an economic impact study of the financial benefits to the State of Florida provided by the vacation rental industry. The report was created in response to pending legislation which potentially has adverse affects on this sector. However, the report also serves as a template for all counties, regions and states that see gains in revenue and employment from vacation rentals.
According to the Florida Department of Business & Professional Regulation (DBPR), in 2013 there were a total of 120,291 licensed vacation home rental units in Florida.
This study should be of particular interest to industry stakeholders as it represents the first attempt to assess the impact of the vacation rental industry on a statewide basis. It sets the stage for subsequent investigations into the industry’s economic impact on individual counties or regional groupings within the state.