- May 9, 2007
All of our homes are considered large. Three of our homes are 75% booked in October, mostly family, friends and clients per gratus. Two of our homes are 100% booked absolutely solid, from Thanksgiving thru April. Quite frankly the large homes do so well in the summer( rental rate and occupancy wise )that the off season rentals are icing on the cake. Having that prime season cash in hand is a good thing not a bad thing. Interesting enough, the last two rental seasons have been our two best. With less people buying, more people are renting.
What works for one person may or may not work for another. Paula does a great job with her homes and it works for her. I believe her post summarizes it the best. Buying into South Walton almost 10 years ago has the been the best decision we have ever made. Not only because of the property but because of the friends and neighbors we have met. I see market conditions as an opportunity not a problem.
Side note : Paul, please give Gretchen and Bob a big hug next time you see them. We missed an opportunity to see them a couple weeks ago.
Well Snarky, your turn what are your occupancies on your seasonal rentals that are the basis of your advice?
My experience was based on the 50+ rentals I managed. Growing up we had a beach house that we didn't rent out since we had too much personal stuff in it and didn't like the idea of strangers using it. We also rented various houses from St. George Island to Pensacola growing up when we wanted something different.
I'm assuming that your homes are located in Grayton and you don't mind weddings?
I guess I wasn't clear on my OP that location is a big part as well. Drive through Seacrest Beach, Rosemary, WaterSound, or WaterColor during January and February, ghost towns.
I'll also point out that your counting occupancy when the unit is "rented" by friends or family paying nothing. How does that income model work out?
I'm not trying to argue with you I just think the the OP is looking for information and that's what I was trying to give.
My final point of advice:
Many rental companies have provisions for use during peak times (Memorial Day to Labor Day) so it's something to take into consideration as well.