Historical Vacation Rental Data

[James Black]

I am in the process of building a vacation rental on a four season resort. It is funded by a construction loan and will transition to a mortgage around January. My concern is that my DTI is not great and I won't be able to get a good rate or pull some of the equity that the home will more than likely have when it is complete. I have enough in savings to cover 6 months of mortgage for my property, a long term rental I own, and this property I am building. But the banks seem to focus primarily on DTI.

Is there anywhere I can collect historical performance data on short term vacation rentals in a specific area? I would like to have that in my back pocket in case I run into any issues when it comes time to roll over to a mortgage. 

Thank you for any assistance.

James

[Taj Richardson]

@James Black you can get some info from AirDNA for free. Use the overview tab and search for a city or zipcode and AirDNA will provide you with average daily rates, occupancy, and revenue you could use in building out a case. Also, you can use their Rentalizer tool for free to look up any address and get a projection for a specific home's projected revenue. Those details should both be able to help without forking out a bunch of cash for the full AirDNA suite. 

Also, you can find local vacation rental companies in just about any good STR market who should have the ability to give you market level data. My company has very extensive internal reports on market revenue expectations, so finding a rep in the area you are looking, and contacting my company to get connected with that rep would be a free option as well.