All Forum Posts by: Alice Horn

Hi Matt!

Thanks for the kind words! We are strictly property managers and marketers. We have a F/T revenue manager who stays focused on occupancy and revenue. That helps!

It will be interesting to see what happens with the market!  So far, so good. All eyes are on Disney and the reopening yesterday. So far response from visitors is positive - they are having a great time and feeling safe. 

Alice

Love all the positive energy on this thread! Happy to be part of any virtual meetings. We are vacation rental property managers and marketers using technology and a data-driven approach to secure the best return for our investors. Would love to share and learn from the group.

@Matt Sandidge sorry about the delay. we also use Beyond Pricing, Guesty is our channel manager. We also use Key Data Dashboard for data analytics and forecasting, and Properly to schedule and monitor cleans. 

Matt, I am not a financing expert but can address the other issues. Depending on your market you should be able to hire a professional property manager/marketer to handle ALL of the above, starting with professional photography, listing on all the channels, revenue management, scheduling cleans, handling maintenance and more. The most important aspect is your revenue management. Vacation rentals have entered the sophisticated and complex world of dynamic pricing. Prices can and should fluctuate every day, depending on seasonality, local events, weather patterns etc. A professional manager will be able to generate top revenue for your unit by using the right software and understanding the marketplace.

I'm not familiar with that market but I would always trust someone who gives lower occupancy estimates (and hopefully overdelivers). Ask for specific projections on the home and if the PM is willing to share, actual booking reports on similar homes.In Orlando our average occupancy on 70+ properties was 63% of the 2nd 6 months of 2019, with our top properties averaging up to 85%. The overall average is lower because some homes have quite a few owner stays and owner bookings. We charge 20%, but our software costs alone are 5%. We use dynamic pricing and other software which allows us to outperform the market. Good luck!

Hi again Matt

We manage about 70 STRs in Orlando. We use Key Data Dashboard, the leading STR data gathering system in the industry. Our average occupancy for Davenport and Kissimmee 4, 5, and 6 bedroom homes was 70-75% in June. In July it's trending a bit lower because of the spike in Covid cases. Once that normalizes, Disney reopens and travelers regain confidence we expect occupancies to trend up again.

We have decreased prices but increased cleaning fees to cover additional CDC cleaning and disinfection standards which we highlight in our listings. This has helped with bookings. We have also loosened our cancellation policies.

The ROI to investors is still significantly higher with the right vacation rental. Travelers are strongly leaning towards vacation rentals instead of hotels as they feel safer in a more private environment, so long term the future is bright.

It depends on your risk tolerance but we anticipate significant buying opportunities over the next months as owners may divest themselves of their second homes if their financial situation changes. Good luck!

Alice 

By any chance are these meetings still happening (virtually of course)?

Hi Alyssa, we are property managers with a portfolio of 70+ properties in Orlando, Davenport and Kissimmee. There are actually several communities in Orlando which zoned and fully legal for vacation rental use. We mange 15 units in two, one is very close to the Orange County Convention Center and the other is closer to Universal. Both perform very well, precisely because Orange County is not oversaturated with vacation rentals. Happy to share further insights and provide performance examples if you're interested.

If you are looking at vacation rental properties, it's a supply issue. There are over 65 thousand VR properties in the Orlando/Kissimmee/Davenport area. A property that is a bit older and in need of a refresh can often be purchased for a great price, since many buyers are attracted to newer homes and communities. That being said, if you can find an older property in a stable resort close in to Disney, and redecorate to a high standard, you have a great investment property on your hands. We are property managers and marketers and have seen by far the best ROI in our portfolio on homes that fit this profile.

Hi Teresa, if you are interested in the vacation rental market which is of course huge in Orlando, I am happy to provide advice and help with projections.