Short Term and Vacation Rental Success
Hey BP!
I am a Realtor and work, live, and invest in real estate here in the Scottsdale/ Phoenix/ Mesa/ Tempe areas and have experience in doing 1 year rentals with condos and single family homes. I have been running the numbers in excel and short term/ vacation rentals seem to offer a much higher return on investment than long term. If any one has experience in this niche, I would love any advice and if would highly appreciate if you could respond to the following questions:
1) What type of property offers a higher return, condo's or single family homes ?
2) Properties with how many bedrooms have the highest occupancy and highest return ?
3) What percent higher can you expect during peak season?
4) What is your average yearly occupancy rate?
5) Do more remodeled properties or less remodeled properties have higher occupancy and/ or ROI?
Any experience, advice, or opinions would be great, thank you so much!