Navigating Seasonality in the Short-Term Rental Market in Florida

[Alberto Nikodimov]

Seasonality in the Short-Term Rental Florida Market remains a consistent phenomenon with minor variations each year. Notably, last year saw an unusual surge in October, which traditionally had been one of the slower months, often trailing only behind September.

Seasonal Trends Based on Previous Years:

January - Recognized as a mid-season period, January experiences a boost from holiday spending that extends into the first 10 days of the month. Following this, both the Average Nightly Rate (ANR) and occupancy experience a slowdown until the beginning of February.

February - Marked as the high season, February consistently stands out as one of the best months due to favorable weather conditions in Florida and colder climates elsewhere. ANR and occupancy rates peak during this time.

March - Continuing the high season trend, March witnesses an influx of snowbirds, spring breakers, and various conferences and events, making it the best month of the year.

April - Maintaining the high season, April sees a slight slowdown as spring breakers decrease. However, events like Easter contribute to keeping April among the best months of the year.

May - Positioned as a mid-season month, May historically faces challenges as students have exams, and parents are saving for summer vacations. Some cities, recognizing this, have successfully implemented major events, such as the Formula 1 race in Miami, to boost tourism.

June - Transitioning to mid-season, June surpasses May as the summer season begins, leading to higher occupancy rates, even though ANR is lower compared to previous months.

July - Categorized as mid-season, July stands out due to 4th of July celebrations, resulting in some of the highest nightly rates during the summer months.

August - Although August is generally good (mid-season), a slowdown occurs as the end of the month marks the return to school for kids, signaling the end of the summer season and the beginning of the low season.

September - Consistently the worst month, September signifies the low season with lower occupancy and nightly rates. It becomes an opportune time for property updates and maintenance.

October - Remaining a low season, October sees a pickup towards the end, especially with Halloween events. Orlando distinguishes itself with Halloween Horror Nights, making October comparatively better for the area.

November - A transitional month between low and high season, November sees an uptick in occupancy and ANR, particularly around Thanksgiving week.

December - Ending the year on a high note, December is unique with a slow start followed by the highest nightly rates after the 21st, as people save money for Christmas and New Year travels.

Our pricing and advertising strategies are shaped by these learned seasonality trends, proving successful. However, I am very curious to know if other people in Florida, Orlando, Miami, Naples, Fort Myers Beach, Daytona and other cities popular for STR investments are seeing the same Trents. IF not, what are the differences? Which months do you think are part of the high-season, which months are mid-season and which months are part of the low-season? Lastly, how do you adopt your businesses and investments based on that knowledge?