STR Airbnb in 2023: Does the home has to have a pool? How many bedrooms?
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
Quote from @Niv Astronivo:The first thing I would do is go to AirDNA and see how much local STRs are getting for their palces with and without a pool and how many bedrooms. Then I would add up servicing debt to see if you can make any money.
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
Quote from @Mike Hern:
Quote from @Niv Astronivo:The first thing I would do is go to AirDNA and see how much local STRs are getting for their palces with and without a pool and how many bedrooms. Then I would add up servicing debt to see if you can make any money.
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
I second this. Air DNA also needs to add a feature in which you can filter comps by amenities. Would make their data even stronger!
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
- 5,465
- Votes |
- 7,007
- Posts
#2 Short-Term & Vacation Rental Discussions Contributor
- Olympia, WA
Simply take a look at what is renting now. Do they have pools? It seems like the area would support a pool vs no pool.
Use the enemy method and see how much pools are getting Vs homes without pools.
Thanks guys for your advice!
I know most people look for a pool when they book a STR in a warm location. Since most people can't afford or want to bother with a pool at their personal home, they want them at STR when they travel.
I agree with the people above! I would look at the other STRs in the area, and see what they offer!
If I may, this is kind of off of your subject, but if a person is going to purchase a property and decide to use it for an Airbnb or short-term rental, make sure that the subdivision you're purchasing allows it because there's a misconception that you can have an Airbnb wherever you choose rather has an HOA or not even if it is not zoned, it's not going to end well for the homeowner because it takes one person to say no that they were against the idea of an Airbnb or short term rental in that zoned area then you're out your money, so do your homework first look into Code Enforcement for the zoning and Land and development just a piece of advice
#4 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
- 1,021
- Votes |
- 1,384
- Posts
#4 Short-Term & Vacation Rental Discussions Contributor
- Tampa, FL
Hey Niv - In the Tampa market it depends on the specific neighborhood. While a pool is never a bad things in terms of revenue generation, it is not necessary in the more urban areas with smaller dwellings. These units have a higher occupancy rate and lower ADR and are more used as places to crash while in town for extended stay (work, moving, sightseeing, etc). The beach areas in Pinellas County are highly dependent upon having a pool. These houses have lower occupancies but higher ADR. These houses are utilized like mini private resorts where families will spend whole days of their vacation grilling, laying out by the pool, etc.
-
Property Manager
- Vacation Rentals of Florida LLC
- 813-563-0877
- http://www.BookVROF.com
- [email protected]
Quote from @Niv Astronivo:
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
In the beaches area with a semi-luxury home, @Andrew Steffens is right -- you really want a pool.
The best way for you to verify this is to compare ADR (or comparable rates for specific dates) on similar properties in similar locations. Check a few with pools and a few without. In my area, a pool will get you about 30% higher ADR and you will get the same or a bit higher occupancy.
Do the same for bedrooms. A fourth bedroom will up your ADR, but not usually as much as you might think. And I'm not always sure it will justify the added purchase price in the very short term. In the very long term, a fourth bedroom is worth it -- it will add appreciation, resale value, and the smaller revenue gains will start to show big in the long run.
-
Real Estate Agent Florida (#SL3364820)
- 727-288-7325
- https://danmacrealtor.com/
- [email protected]
Quote from @Dan Maciejewski:
Quote from @Niv Astronivo:
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
In the beaches area with a semi-luxury home, @Andrew Steffens is right -- you really want a pool.
The best way for you to verify this is to compare ADR (or comparable rates for specific dates) on similar properties in similar locations. Check a few with pools and a few without. In my area, a pool will get you about 30% higher ADR and you will get the same or a bit higher occupancy.
Do the same for bedrooms. A fourth bedroom will up your ADR, but not usually as much as you might think. And I'm not always sure it will justify the added purchase price in the very short term. In the very long term, a fourth bedroom is worth it -- it will add appreciation, resale value, and the smaller revenue gains will start to show big in the long run.
Yes this is what I thought. Thank you!
Quote from @Zach Edelman:
Quote from @Mike Hern:
Quote from @Niv Astronivo:The first thing I would do is go to AirDNA and see how much local STRs are getting for their palces with and without a pool and how many bedrooms. Then I would add up servicing debt to see if you can make any money.
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
I second this. Air DNA also needs to add a feature in which you can filter comps by amenities. Would make their data even stronger!
Hi! Why don't you sign up on Airbtics? It has advanced filters, so you can definitely check how properties with pools, tubs, parking, gym, and so on are doing!
I have three barrier island Florida houses, one a 3 bed, one a 4 bed and one a 5 bed. The two larger homes have heated pools...I added the heater. 37% of the houses in my market (according to AirDNA) have pools, but I'm not able to see how many are heated.
I get a fair number of inquiries about the pool heater, and it makes a difference in my area. I'm in Brevard County, so a little North from you. My houses have about 70% occupancy, and I am aiming for a very high ADR...could get occupancy up by lowering prices, btw.
Quote from @Niv Astronivo:
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
I live in Hollywood Lakes for 12 years - you're not getting a home with a pool there for $600k today. If you want a pool or 4BR in that price range, you're going west of US1 and very likely west of 95. IMO, if you go west, yes you want a pool. It's much less important when you're east because the Atlantic is right there. People renting there are likely going to the beach. Sure, a pool would be nice too but not nearly as imperative. Also, being east is prime. Skipping over FLL and to Pompano, there used to be bargains there, not so much now. Can you get that east of US1? Possibly. The segment between US1 and 95 is quite nice and you should be able to get a pool or 4BR (or both) - that might be your winning location.
Tchaka
@Kerry Baird We have had quite a few questions about heater for our pool for our property in Palm Bay... As of now it is not heated but we are considering doing it once it gets a little cooler. If you don't mind, could you please tell me how much it was to install the heater and possibly put us in touch with the company that did it for you? Thanks Kerry!
Quote from @Ramon Meris:
Quote from @Zach Edelman:
Quote from @Mike Hern:
Quote from @Niv Astronivo:The first thing I would do is go to AirDNA and see how much local STRs are getting for their palces with and without a pool and how many bedrooms. Then I would add up servicing debt to see if you can make any money.
Hello everyone, I invest in South Florida, I know that AIRBNB in 2023 will be more challenging and not as profitable as 21/22, which makes me think about the strategy for buying my next STR...
Do you think it would be better for the house to have a pool to get more bookings? So should I just skip houses with no pool?
Is a three-bedroom house for 600,000$ and a pool sounds like a good deal or is it better to have 4 bedrooms? To clarify I'm talking about Hollywood area to FLL to Pompano Beach.
I second this. Air DNA also needs to add a feature in which you can filter comps by amenities. Would make their data even stronger!
Hi! Why don't you sign up on Airbtics? It has advanced filters, so you can definitely check how properties with pools, tubs, parking, gym, and so on are doing!
It cost 75$ per month and I already have AirDNA... Is it worth it? the free version looks weird.
@Samuel Boyd, I bought the heater on one of the quarterly sales that Pinch A Penny pool service offers. I had Eau Gallie Electric do the electrical portion of the install. The most recent heater was $5745 with a discount applied.
Quote from @Kerry Baird:
@Samuel Boyd, I bought the heater on one of the quarterly sales that Pinch A Penny pool service offers. I had Eau Gallie Electric do the electrical portion of the install. The most recent heater was $5745 with a discount applied.
Is the heater really big? I'm worried how it'll fit my new backyard
@Niv Konforty, the pool heater is black and is the size of an air conditioning unit. They reside next to the pool filter equipment.