Miramar Beach STR Revenue

[Jeremy Schrader]

Hello!

I am under contract on a 5 bedroom SFH in Miramar Beach, 3 blocks from the beach in a gated community - Frangista Beach.

I’ve received estimates from airdna of gross revenue from 100K to 165K, and two quote from property managers estimated 120-150 with the pool. 

I still see a LOT of properties available for this spring and summer in VRBO and Airbnb. 

Is anyone willing to share their actual revenue for this area, and how close to stays that people really start to book?

[Joshua Strickland]

Originally posted by @Jeremy Schrader:

@Kenneth Garrett and @Joshua Strickland - what drives the difference in your opinion? Pictures? Minimum nights? Are you using any pricing tools (for better or worse?)

@Kenneth Garrett

@Kenneth Garrett as an owner in the area, what’s your thoughts on the estimates I’m seeing?

 All of those factors. Using a pricing tool will help. Your strategy with that pricing tool will also make a difference. If you want the comfort of having reservations on the books you may lower your price to get booked earlier. But with the high demand in summer if you keep them 20% higher than your neighbors the odds are you still book, but not until 2-3 weeks out. Can make a large difference and if you’re within say 7 days and still not booked you can lower the price. Plenty of people taking impromptu let’s get away for the weekend trips during the summer.

Pictures are big, and same for minimum night stays. I set my software up to 7 nights minimum, then drops to 5 within  30 days, then to 3 within 2 weeks. I used to drop to 1 inside of a week, but I’d rather sit empty than have the headache. For some reason all of my 1 night stays were problem children, but they paid about a 25% higher rate so to each their own.