In areas that allow Vacation Rental properties and the property can also be rented longer term the rest of the off season, how would you go about a valuation? It would basically be standard residential say 8 months and 3-4 months vacation rental.
@Brandon Turner and anyone else with information
I thought our beach close condo project in San Clemente might work for live in one rent the other, as I see you talking about sometimes. However; on the sale side, condos actually bring higher values I think than a duplex would, but curious if anyone knows how to do such a valuation.
From what I see on VR, they usually charge for a weekly charge about what is charged for the month off season.
Honestly I have no idea, but I'd imagine if it's a SFR... it's going to only be valued on what other similar homes have sold for in the area - regardless of what the use is (rental, vr, or private home.) Thoughts?
Yes, the primary use in the area is for residential. However; there are some units used for several months of the year for vacation rentals, which increases the income considerably, though it probably isn't factored into valuations. Say if the monthly rent off season is $3000 per month for the long term rental part of the year, the seasonal will often go for that same amount PER WEEK. Probably the only time it is factored in is when it is being sold as a vacation rental business. I think I'll move this to Short Term Vacation rental forum