Six Month AirBnB vs HomeAway Income Only
While I have been renting long term for the better part of a zillion years, I recently acquired a house in the right area, at the right price, and with the right financing for short term rentals.
Some of my assumptions were incorrect. For instance, my clientele. I expected to have a number of international guests; my most prevalent guest has been a set of grandparents who meet up with their adult children and a number of grandchildren. Most of my guests have been visitors from another part of Florida. I started to cater towards those grandkids with bedding and toys, which appeal to children.
Now at the six month period, I am doing a comparison between the income received from this one property, a three bedroom 2 bath single family house, on the barrier island of Central Florida.
AirBnb vs HomeAway or VRBO. I have seller financing on this property, which is a low-payment interest-only mortgage. That has been a fixed amount. I am also paying for water, internet, electrical and lawn maintenance.
I started out doing the cleaning (with my kids, who are learning how to do the cleaning and make beds alongside me), so that I could determine systems that I want to have used. And then I hired a couple of local women to do the cleaning regularly. When my kids have a desire for some spending money, I give them the option to do a day of cleaning.
Other supplemental applications: AirDNA to assess the areas in which I hope to buy, Beyond Pricing for dynamic pricing.
June AB $1113 HA $0
July AB $1870 HA $1568
Aug AB $1410 HA $2012
Sep AB $1740 HA $0
Oct AB $0 HA $2480
TOTALS: AB $ 7847 and HA $6061
Nov AB $1714 (expected) HA $540 (expected)
BeyondPricing says my health score on AirBnb is 90, and reports 58% occupancy over 90 days
Beyond Pricing says my health score of HomeAway is 84, and reports 47% occupancy over 90 days.
Are you thinking about starting a STR? Have any questions about how I got started?
If you have more experience with the short term or vacation rental market, and want to give me some guidance, please leave a comment below.