All Forum Posts by: Tyler Erickson

@Aaron May, thanks.  Just to clarify, you manage the booking and the pricing, and outsource the cleaning, maintenance, etc., right? 

@Aaron May, thanks for the input! I know property management can be expensive, so I'm sure managing that yourself can save a few bucks and improve your bottom line. I don't live in the Orlando area, so I'm a little hesitant to manage that myself from a distance. Any tips on how to best manage an out of state STR property yourself without the help of a PM?

@Valentina Naumenko, thanks for the input!  Have you had to drop your nightly rate to keep your occupancy rate high? 

@Keith Courtney, thanks for the tip. That makes a lot of sense to me. I've heard from many that STR property occupancy rates are still high, but I've been kind of skeptical when I heard that given the economic climate we're in and considering both Disney and Universal have dropped park occupancy rates to around 25% or so. I know many on property Disney hotels are still closed as well. There are definitely many input numbers to consider, and at the end of the day, the bottom line number is what really matters.

Kristyn, I haven't purchased a property in Orlando yet, mostly due to the crazy year we've had, but I do intend to move forward with it.  I'll likely stay there myself for vacations, while also renting it out.  I've been talking with @Alice Horn about different areas, options, pricing, fees, what to look for etc. if you're interested in connecting with her.  :) 

thanks!  Why Windsor Hills?  Obviously a short drive to the parks is best, but there are a lot of places that have that.  Anything in particular that makes Windsor Hills better than other areas?   

Thanks @Elizabeth Shelby, and @Erik Kuhi,very helpful.  

Anyone have analytics that show market saturation numbers? something like total STR capacity, STR vacancy rates, etc.? ........or know where I could obtain something like that?

@Melissa Jolley - yeah, I'm seeing properties around that price range as well.  

@Ken Latchers - I'm not worried about hurricanes, tbh.  I'm more than willing to take on that risk.  There are tons of tourists who visit Orlando all year round.  

Everyone - Vacancy rates are the unknown for me, I guess.  If I can fill it, profits are there.  If I can't fill it because I can't compete with all the other properties out there, I'm a little worried.  I did a quick search on VRBO and found more than 3,000 properties available to rent during a particular week in November, about a month out from now.  

How do I stand out above the other 3,000 properties, and get ppl to stay in my place for that week instead of someone else's? Am I overthinking this? Do I just need to price it right? Is there more to it than that? Anyone have any figures that show the total Orlando STR pie? ........and what gets rented and what doesn't? ..........wondering how saturated the STR market is in Orlando.

also - @Joey Morea - would you mind sharing what you are doing to effectively market your property? 

@Paul Sandhu - thanks. How much time do you spend managing all those STR's? Do you do it all yourself or do you have others to help you?

@Denise Reis - Would you mind sharing how much you're paying for your property manager?  .......and what your issues have been with your PM?