Difference between lower and higher end condos?

[Michael Furey]

I’m looking to buy my first condo to rent out on Air BnB in the Orlando area. I’ve been looking on their site to see what types of places work best and get rented the most. One question I’ve had that is hard to tell is what are the main differences that set apart a condo going for $100/night and one going for $200/night?  Is it the amenities, the size of the place, location?  There didn’t seem to be any one specific thing to determine that. Whatever I buy, I want to get something that will allow me to charge a higher nightly rate. 

[Tyler Gibson]

Quote from @Michael Furey:

Quote from @Tyler Gibson:

Quote from @Michael Furey:

I’m looking to buy my first condo to rent out on Air BnB in the Orlando area. I’ve been looking on their site to see what types of places work best and get rented the most. One question I’ve had that is hard to tell is what are the main differences that set apart a condo going for $100/night and one going for $200/night?  Is it the amenities, the size of the place, location?  There didn’t seem to be any one specific thing to determine that. Whatever I buy, I want to get something that will allow me to charge a higher nightly rate. 

 So to make sure you buy in the right location. You want to be within 15 miles of Disney not in Orange County FL. Then you want to have awesome amenities and the condo should have some court of a wow factor. This can be in the design, theme, or distance to attractions. In the Disney area however bigger is usually better. There are a ton of hotels and when you have a smaller property (2-3 bedrooms) you are directly competing with hotels. A family of 4 can stay in 1 hotel room comfortably so why pay more for a 2-3 bedroom condo? However, a larger family or 2 families traveling together cannot share 1 hotel room so they will elect a 4-7 bedroom home and pay the same or less than 2-3 hotel rooms. 

Do you think I would be better off looking for something with more than 3 bedrooms then?  Or for my first one, would 2-3 bedrooms be ok, just make sure the place has great amenities and really make the condo nice?  

 You may be fine with a smaller unit but you would need to have resort-style amenities and a great design.