Vacation rentals and Airbnb

[Josh Ward]

I have a few traditional rental properties here in Utah, but would like to learn more about vacation rentals. My hesitation is that they won't always be occupied or that vacation management and cleaning fees will wipe away the potential cashflow.

I live in Utah but am currently getting pre-approved for townhomes in Orlando that are within 5 miles of Disney World. What are your thoughts? Are vacation rentals a good investment? Should I rethink targeting Orlando?

Thanks! 

[Shawn McCormick]

Hi @Josh Ward. I have a few of these under contract right now and literally writing an offer up this evening on another. I have sold townhomes, single family and new construction in several of the communities near Disney. Just closed one for another BP member from Utah 2 weeks ago!

Although I have my personal opinions on some individual communities performing better overall, much goes into whether you are profitable or not. There are many variables (location to amenities, age of unit..is it updated, does it have a garage, pool?, themed rooms, game room, how many beds 3,4,or 5) just a few things that matter in a townhome. Since virtually every townhome in a community is almost identical, how will yours stand out? You will be marketing online with photos, so why would they pick yours if all the other townhomes in the community offer the same thing? Do you offer something special, have great themed rooms, a game room in the garage, or does it just come down to price per night?

I would be happy to discuss these items and thoughts on using a property manager is right for you or not. Message me and we can schedule a time to talk. Inventory is very tight right now and it is hard to even book a showing because the units are full all the time with vacationers, but still a great time to buy and take advantage of Disney's 50th celebration and the entire planet is itching to take a vacation and we are the #1 destination in the world.

Look forward to hearing from you, Good Luck