How much is ADR and occupancy rate affected by number of bathrooms? I am looking at a 2bd/2ba house and a 2bd/1ba house for STR. If both sleep same people but one has 1 bath, will it affect bookings? $200k lower purchase price on the 1ba, with very similar location and amenities. Numbers work on both well, but lower priced is theoretically better on spreadsheet but can't account for bookings based on bathrooms. Any input is appreciated.
The 2nd STR house we rented out had 1 bath and 3 beds. 9 guys stayed in there.
We bought a bank foreclosure house. 3 story. 4 bathrooms and a jacuzzi. We put in 9 beds. 11 pipefitters rented it out. Day and night shift at a refinery. They paid for the house in about 15 weeks.
Bedrooms do not limit the capacity. Bathrooms is the capacity limit. Guys will share a bed or sleep in closet or bring an air mattress.
With homes that small 1 bathroom won't make enough of a difference to justify that big of a price spread. Are either of them large enough to turn into a 3 bed? That is more important than bathrooms.
It shouldn't affect price as much as sleeping space. Someone might want more bathrooms and book another place. If it is a popular location you should still do well.
With it being an STR the amount of bathrooms are not as important. If, for whatever reason, needed to turn it into a LTR, rent by the room, or selling it to someone who wants to live in it then having the same amount of beds to baths is proffered. This concept can be seen in new construction trends where builders are opting for larger bedrooms and each room to have an en suite bathroom for convenience and privacy for tenants. They are sacrificing space in the shared/common areas for bigger rooms and private bathrooms.
More baths would be nice but I don't think it would keep it from renting. On our long term rentals we have 7 2/1 properties and they stay full. We even have a 4/1 that's not had vacancies.
@Amy Rankin personally I would never want to sleep more than 4 guests per bathroom. The overall amount of space should also be considered when choosing the sleep capacity, ie how many people can the main living area serve comfortably, etc.
It definitely doesn't matter as much. But it does matter a bit on your target audience. I typically will try to sleep 6 in a 2 bedroom which is a lot of people for one bathroom. at the very least, I would try to convert a closet and a little bit of one of the bedrooms into a half bath. But if there is room to add a second full bath, do it!
I have a different take as we rent primarily to extended families and bathrooms are important, especially with kids.
Now with a 2/2 or 2/1, you will not get large groups there so it is less important. Our home is a 4/3 and I have a 1/2 bath off the garage that I am going to make a hallway to from the kids bunkhouse. That would make 4 bathrooms available to 10 guests. We do allow overages if there are more kids (our last guest had 4 adults with 8 kids) so bathrooms are important IMHO.
How much is ADR and occupancy rate affected by number of bathrooms? I am looking at a 2bd/2ba house and a 2bd/1ba house for STR. If both sleep same people but one has 1 bath, will it affect bookings? $200k lower purchase price on the 1ba, with very similar location and amenities. Numbers work on both well, but lower priced is theoretically better on spreadsheet but can't account for bookings based on bathrooms. Any input is appreciated.
$200,000 difference over one bathroom? In Charleston?