Any Maine Kennebunk/Wells/Ogunquit/York STR owners out there?
Rental Property Investor · Manchester, NH · Member since 2022 · 3 posts · 3 votes
Any Maine Kennebunk/Wells/Ogunquit/York STR owners out there?
Most Popular Reply
Garret GetchBusiness Member
Real Estate Agent · Lisbon Falls, ME · Member since 2018 · 37 posts · 22 votesGood Evening Katherine,
Although the area that you are describing is a little south from me (I tend to stick to the Bar Harbor, Harpswell, Freeport, Yarmouth, Portland coastal areas) I can tell you that year round occupancy at 80% is a fair amount, but definitely will go down during winter. Since beaches aren't extremely common in the sense of white sand and surf but tend to be rocky, it's not all about being on shore front; however, close to coastal attractions like Bar Harbor, downtown Freeport, and other tourist areas like Kennebunk Port will drawn in larger crowds in the summer months. That being said some of the areas do drop down a lot during the winter just due to lack of services running, restaurants closing for the seasons, and lack of events going on; so staying in areas near the year round attractions will be very important. I would suggest looking closer to places like Freeport (LL Bean alone attracts a lot of folks), Portland (where the Old Port is always going plus the added benefit of renting to people coming in or going out on the airline), and near Kittery (near the Naval Base where again folks coming in and out will tend to stay) if you are wanting year round high occupancy. Another odd place that is kind of hidden as far as great short term rental opportunities is in and around Bath due to BIW (Largest employer in the state) needing to hire sub-contractors to come in and work. I have some clients that own a house with two connected apartments that have been rented out at a $1,000 a week each for the last 2 years thanks to BIW...and I have been there...I wouldn't pay $1,000 a month to live there, but it works. So keep in mind that places like Saco, Kennebunk, and Bar Harbor tend to shut down during the winter as we all bundle up and try not to freeze to death for the 3 early months of the year, but during the summer time they are very attractive places to rent for short term rental, but there are other more creative opportunities to those who look outside the box. Reach out if you have any more questions or need help.
6 Replies
- Member since 2020 · 41 posts · 26 votes3y
I've been looking for an STR in this area for about a year (still a tough market). Although I don't own one yet, I've done a ton of research, and feel like I have a pretty good grasp on the area. I'd be happy to connect and share what I know.
- 3yGarret GetchBusiness MemberReal Estate Agent · Lisbon Falls, ME · Member since 2018 · 37 posts · 22 votes
Good Evening Katherine,
Although the area that you are describing is a little south from me (I tend to stick to the Bar Harbor, Harpswell, Freeport, Yarmouth, Portland coastal areas) I can tell you that year round occupancy at 80% is a fair amount, but definitely will go down during winter. Since beaches aren't extremely common in the sense of white sand and surf but tend to be rocky, it's not all about being on shore front; however, close to coastal attractions like Bar Harbor, downtown Freeport, and other tourist areas like Kennebunk Port will drawn in larger crowds in the summer months. That being said some of the areas do drop down a lot during the winter just due to lack of services running, restaurants closing for the seasons, and lack of events going on; so staying in areas near the year round attractions will be very important. I would suggest looking closer to places like Freeport (LL Bean alone attracts a lot of folks), Portland (where the Old Port is always going plus the added benefit of renting to people coming in or going out on the airline), and near Kittery (near the Naval Base where again folks coming in and out will tend to stay) if you are wanting year round high occupancy. Another odd place that is kind of hidden as far as great short term rental opportunities is in and around Bath due to BIW (Largest employer in the state) needing to hire sub-contractors to come in and work. I have some clients that own a house with two connected apartments that have been rented out at a $1,000 a week each for the last 2 years thanks to BIW...and I have been there...I wouldn't pay $1,000 a month to live there, but it works. So keep in mind that places like Saco, Kennebunk, and Bar Harbor tend to shut down during the winter as we all bundle up and try not to freeze to death for the 3 early months of the year, but during the summer time they are very attractive places to rent for short term rental, but there are other more creative opportunities to those who look outside the box. Reach out if you have any more questions or need help.
- 3ySean DelisleBusiness MemberReal Estate Agent · Londonderry, NH · Member since 2021 · 102 posts · 50 votes
Hi Katherine,
I own a STR in York, Me. I typically get weekend rentals starting in May thru June. Typically the last week of June starts weekly rentals until Labor Day, then weekends again through Sept-Nov. I found that my weekend rentals are wedding related. I choose to not rent monthly in the off season. I don't want people settling in. I like having weekly access and its professionally cleaned each week. Not sure if that helps. Have a great day.
Elevate Property Group|BHHS Verani5131 Reviews - 3yJaylan ArcherBusiness MemberReal Estate Agent · Portsmouth, NH · Member since 2014 · 150 posts · 65 votes
Hey Katherine!
Sounds like you are headed down the right track. I do own a STR in York County, Maine that I am pleased with and am a real estate agent out of Portsmouth. Like others have said - I do see a drop off in the winter months. We use it as a STR year round and choose not to place a tenant longer term through the months of October to April.
I do think that the North Conway/lakes region market is a hidden gem in New England commanding year round demand with all of the attractions it offers. Because most of the people visiting Kennebunk/Wells/Ogunquit and York are coming because of the beach, rentals do die off after September. There are quite a few restaurants and shops that close up for the season that doesn't help the draw to the area.
Portsmouth, NH is a good year round draw and the shipyard as far as an employer does also help for someone looking for a more medium term stay. From experience, unless you want to put a longer term tenant in place from October to say May, I don't think you will experience 80% occupancy along the seacoast of Maine.
Happy to connect if you have further questions!
Archer and Associates of KW Coastal587 Reviews - Investor · Boston, MA · Member since 2024 · 16 posts · 2 votes2y
Quote from @Garret Getch:
Good Evening Katherine,
Although the area that you are describing is a little south from me (I tend to stick to the Bar Harbor, Harpswell, Freeport, Yarmouth, Portland coastal areas) I can tell you that year round occupancy at 80% is a fair amount, but definitely will go down during winter. Since beaches aren't extremely common in the sense of white sand and surf but tend to be rocky, it's not all about being on shore front; however, close to coastal attractions like Bar Harbor, downtown Freeport, and other tourist areas like Kennebunk Port will drawn in larger crowds in the summer months. That being said some of the areas do drop down a lot during the winter just due to lack of services running, restaurants closing for the seasons, and lack of events going on; so staying in areas near the year round attractions will be very important. I would suggest looking closer to places like Freeport (LL Bean alone attracts a lot of folks), Portland (where the Old Port is always going plus the added benefit of renting to people coming in or going out on the airline), and near Kittery (near the Naval Base where again folks coming in and out will tend to stay) if you are wanting year round high occupancy. Another odd place that is kind of hidden as far as great short term rental opportunities is in and around Bath due to BIW (Largest employer in the state) needing to hire sub-contractors to come in and work. I have some clients that own a house with two connected apartments that have been rented out at a $1,000 a week each for the last 2 years thanks to BIW...and I have been there...I wouldn't pay $1,000 a month to live there, but it works. So keep in mind that places like Saco, Kennebunk, and Bar Harbor tend to shut down during the winter as we all bundle up and try not to freeze to death for the 3 early months of the year, but during the summer time they are very attractive places to rent for short term rental, but there are other more creative opportunities to those who look outside the box. Reach out if you have any more questions or need help.
Great response. Found this post as I myself would like a York/OGT place, but the numbers don’t make sense. It’s just a pricey and competitive market now.
- Investor · Boston, MA · Member since 2024 · 16 posts · 2 votes2y
I just added a post to the Short Term rental forum about York if anyone has new thoughts to share. I couldn’t tag anyone since we’re not connected. @Sean Delisle
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