VACATION RENTAL OWNERS - Please help!

[Karen Margrave]

Do you own vacation rentals? Will you please answer the following questions, I know it will help me, and many others on BP. Thank you! 

• Is there a site you look at to determine vacancy rates?
• What number of weeks do you rent your VR out? 
• On the off months, what do you do with your property?
• Do you manage your units yourself or pay manager?
• What has your overall experience been in renting VR?
• What do you think of your location as it relates to VR?
• Would you buy another VR? 

We are building a house and 2 condos in San Clemente, CA and have been asked about the potential for a Vacation Rental. Off the top of my head, it "seems" like a perfect fit, close tot he beach, new outlet mall, restaurants, and it's in Orange County (Disneyland, sports teams, shopping, surfing and more) perfect weather, etc. However; I'd like to pick the brains of those of you with real "knowledge" of the business, and get educated. So please, feel free to weigh in! 

[Scott Sutherland]

We own and manage 4 Vacation Rentals in Austin, Texas. We began operating them in 2011. 

We use Homeaway/VRBO and airbnb to market them. I believe Airbnb is a bit more popular in California and most of our Airbnb bookings are west coast guests.

We typically look at the calendars of our competitors on the site to get a feel for what their rates and occupancy are when determining whether to invest in a new property. 

We stay pretty booked. 150-200 nights per year. Some months are stronger than others. In Texas, the summer is slow, but we can usually stay booked by lowering our rates.

The best locations have good walkability. Near restaurants, parks, concerts, events, downtown, etc. But they also tend to be the priciest neighborhoods, so it's a balancing act to get the best ROI.

Our net income after all expenses is about 2X what we would generate in a long term rental scenario.