Short Term Rental - Corporate/Event Space

[Lesley Ray]

Hi all! Does anyone have experience with renting spaces to companies? Such as for company events/retreats, photo shoots, etc.

I’m trying to run numbers and am struggling with how to gauge hourly rate, vacancy etc. 

[Bruce Woodruff]

Originally posted by @Dave Stokley:

@Bruce Woodruff I wouldn’t jump to that conclusion so quickly. The place linked below, for example, is renting for $175/HOUR with a 4-hour minimum. If I can get $700 for four hours of use, basically no wear and tear, and don’t have to do laundry, that seems worth considering. If you have the right systems you could even rent it to an overnight guest the same night.

https://www.peerspace.com/page...

Ok - I possibly stand corrected:-) But is she pretty much guaranteed to have a venue like this booked enough to equal a well-run fully booked STR? You know, let's say, an average of 300 nights a year x $200 a night = $60k a year?

I guess it's dependent on the area, I agree it sure would be a lot less work....