Short-term Rentals: Over-saturation and occupancy rate?
I am looking to invest in the short-term vacation rental market, and trying to evaluate a couple areas. It seems like these properties are popping up everywhere, and interested to get more feedback on this competitive landscape. I would love to hear from investors that have been in this investment type for a while, as well as some newbies like myself, to get your thoughts on:
-Occupancy rate in prime season vs shoulder season? Is this fairly predictable in your market?
-Have you seen an over-saturation in the market with these types of properties, driving pricing and occupancy down?
-What did your "ramp up" period look like, when you were trying to get reviews and gain visibility on rental platforms?
I am planning on 50% occupancy in prime months, and 15% in others, so will be great to get your thoughts. Thanks in advance!