How much do you expect out of your snowbirds on the Gulf Coast?

Question

We just bought a condo on the Gulf Coast, and the old management company has said the same snowbirds come to our unit every year from December 15- March 31.

Their rent covers about 2/3 of our monthly expenses. Obviously, their presence would take away Christmas bookings and March bookings. Still, to me (with limited knowledge), this seems like a great deal and I should at least cultivate this relationship going forward (while self managing). what do y’all think?

Luke Carl · Answer

@Andre M.

Yea it’s like being a teacher. My beach properties and my cabins of the same size gross about the same annual but on the beach I get an nice breather.

Although this time of year (late February) I’m ready for that breather to be over. In 4 months I’ll be ready for it to come back lol.

Luke Carl · Answer

@Andre M.  I own a SFH on the gulf. I don’t get snow birds because my house is too big. Seems to me you should have no problem covering expenses in winter. If the numbers you’re hearing were from a property manager and you’re planning to do it yourself you will do much better than what you heard it was doing in the past :)

Matt "Roar" Gardner · Answer

@Andre M. - As a realtor and investor in the Destin area, I recommend cultivating as many relationships as you can, especially for off-season renters.  I'll gladly give up a possible higher Christmas week for a medium term tenant to get me through the offseason.  Best of luck!!

Joy James · Answer

@Matt "Roar" Gardner

Hey matt, you mentioned that you’re a realtor and investor in Destin/ Fort Walton . I am looking to buy a property there for Str and for family use a couple times a year . Do you have some recommendations? How do we connect?

Villy Ellinger · Answer

@Andre M. I own and also manage vacation rentals in Fort Walton Beach (near Destin). I agree with several of the above posts that winter guests should be a steady and reliable way to COVER monthly expenses. If you are not covering expenses, you should review pricing and see what other comparable properties are charging. A few years back I had to take over managing three units from another management company. I had a similar situation with established snow birds renting Dec 15 to March 31 for a price that had not been adjusted for over 5 years. Do not be scared to politely but firmly renegotiate with these established guests to terms that fit your business plan: raise price to where you cover expenses and require that they either rent from Dec 1 or from Jan 2. Also, conclude any snow bird pricing by the end of the second week of March. If they want to stay the last two weeks of March, they need to pay regular spring prices. The reason for requiring Dec 1 rather than Dec 15, is to cover the customary vacancy in early December. If they will be taking over the Christmas holiday, then they need to compensate by also paying for the earlier part of the month. Also, if you can avoid it, try not to allow snow birds to book February without booking January too. Yes, you may lose some established snow birds by changing terms and prices, but if you are losing money you are better off without them. There are many other who would take their place. There is also a severe shortage of weekly rentals in the winter, since most condos require full month rentals then. So sometimes, being the one property that books two separate weeks in January can bring you about the same revenue as a full monthly snow bird rent AND will give  you some down time for repairs.

Valerie Rogers · Answer

We own three 2 BR/2 BA condos in a beachfront building on Okaloosa Island (Fort Walton Beach, next door do Destin). We charge $2200 + fees and taxes in January and $2300 + fees & taxes in February. We could probably charge a little bit more, but most snowbirds are senior citizens on a budget so I feel we're close to the top of what they will pay.

Those monthly fees are more than enough to pay our expenses for those months.

In March spring break season begins, but I've found over the years that the first week of March most often does not rent, and the second week is iffy. So, now, if I have a snowbird that wants to stay into March I will rent the March nights (up to the 2nd Saturday in March) for the prorated February nightly rate.

I hope this helps! Best of luck!

Andre M. · Answer

Lol thanks brother for your input

Kristine Ann · Answer

@Andre M. Did you mean to write that this guest booking covers  2/3 of your annual expenses?

In that case, it seems great!  I would absolutely rent for three 1/2 months to one guest and take care of 2/3 of my annual expenses.  It's like getting a gift for Christmas.  Less housekeeping and less turnover is great.  You still have plenty of time make up the difference and turn a profit the rest of the year.

Sarah Pat · Answer

Hello BP,

I have STR in Fort Walton Beach. I want to rent the place for snowbirds during off season. Looking for good websites to post my listing or someone who can list and manage my property during off season.

Joey Morea · Answer

@Andre M

Don’t rent to snowbirds if you do January only for the month. You will make more just renting it out to normal guest as that is what my experience is with my condo in PCB.

How much do you expect out of your snowbirds on the Gulf Coast?

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