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Updated almost 16 years ago on . Most recent reply
anyone else to weekly beach rentals?
I am starting to build my little weekly vacation rental empire and was wondering if anyone else here does the weekly vacation rentals and how you market them and what your overall vacancy rate is...
Im testing the waters by doing a favor for an out of state client while my properties are getting rehabbed.
The numbers look excellent:
purchase 35,000.00
rehab 30,000
Total 65,000.00
electric $55.00 pm
no gas
well (new)
septic (new)
taxes 1200.00 per year
insurance 700.00
realistic rental income weekly $1000.00 @ 22 weeks per season and $500.00 on weekends for the remaining 30 weeks of the year (folks come up for the fall foliage, wine tours, etc holiday packages....)
The income would be roughly $37,000.00 per year +7800.00 cleaning fees.
so averaged out:
income: 3083.33 per month + 650.00 cleaning fees =3733.33
expenses taxes, ins. elec: 213.33
maintenance yard: 366.66
cleaning exp. : 325.00
so after taxes, expenses it would average (if fully booked) 2824.34 per month income.
ok, the numbers look great, HOW DO I MARKET THESE to get them booked? anyone have any ideas other than the vacation rental websites where I am already paying? I am targeting mostly Illinois, Indiana residents looking for places right by the lake....