How do east coast STRs work in the winter?

Question

My father owns a small 2 lbs 1 bath cottage on the Branford River. It is right on the water, has a beach, is right next to a dock, gets amazing sunset because of where it is located and it is in a beautiful neighborhood - everyone loves it but it needs a lot of work. We’d like to turn it into a STR but we are from San Diego and don’t know how to rent it in the winter.  How do others on the east coast handle STRs in the winter?  The profit from the summer will not sustain it in the winter. Thanks so much!

Nicholas Coulter · Answer

@Shanel Dial I would in addition to the air dna, go look at comparables on AIR BNB during that time frame. Same style of property and the dates youre looking for. You can see general price per night an occupancy.

Kit Serrell · Answer

You should check out AirDNA. They have statistics on the seasonality of each area and can can give you real data versus a bunch of opinions and hypotheticals. Last time I checked, its $99 for 1 month. I just buy it a month or two out of the year for my STRs to make sure I am still on track with trends. It has been 100% worth it.

Kadesha Thomas · Answer

East Coast STRs within 20 minutes of a hospital can find travelling nurses or doctors doing their residency.  Travelling nurses are paid well and get a housing allowance. They like to stay in nice places but often work a long day and come home and go to sleep. Less property damage.

Kenneth Hadinoto · Answer

I don’t think this will help you out that much, but I think STRs would probably do better the closer they are to the casinos.  I wish you luck on finding a solution.  If you’re ever interested in selling, let me know.  😊

Chris Seveney · Answer

Depending on location. For example the outer banks crushes it from May - August then slows down considerably after that. The northeast depending on location will have fluctuations during the seasons. The rentals are consistent with weather, they will have their ups and downs. as mentioned check out airdna or other sites to get a read for the good and slow times

How do east coast STRs work in the winter?

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