Form 1007 Sources for General Public Info

[sputnam]

If you really want to try to nail it down, hire an appraiser.

 

[Fernando]

MSN

Market for STR is unpredictable as shown in Phoenix before Super Bowl.

 

[MoistMitten]

MSN

Market for STR is unpredictable as shown in Phoenix before Super Bowl.

I mean thats fair. Not all of them will book for what you think.. but he has 95 of them. 95 in one area! That proves that there is crazy demand and the numbers work really well on average which is really what matters. Just because he didnt get people with surge demand doesnt really mean anything. He still made 51k in a weekend.

 

[Fernando]

I mean thats fair. Not all of them will book for what you think.. but he has 95 of them. 95 in one area! That proves that there is crazy demand and the numbers work really well on average which is really what matters. Just because he didnt get people with surge demand doesnt really mean anything. He still made 51k in a weekend.

Would he have made more in having a longer term tenant?
I have a rental and across the street is an owner of a multiunit bldg.
He hates it when his tenant rents it out like STR when they're away. I think it works for someone living there and rent it out occasionally.

 

[MoistMitten]

Would he have made more in having a longer term tenant?
I have a rental and across the street is an owner of a multiunit bldg.
He hates it when his tenant rents it out like STR when they're away. I think it works for someone living there and rent it out occasionally.

Normally break even with LTR in markets people are interested in is 30-40% occupancy not including surge pricing. Industry average is 48% so in most cases they do indeed make more. If it's a nice one and not an average one you can be in the top 10 percent of an area easy.

 

[Fernando]

Normally break even with LTR in markets people are interested in is 30-40% occupancy not including surge pricing. Industry average is 48% so in most cases they do indeed make more. If it's a nice one and not an average one you can be in the top 10 percent of an area easy.

Seems like you have become knowledgeable with STRs.

 

[Cob]

MSN

Market for STR is unpredictable as shown in Phoenix before Super Bowl.

I stopped staying in STR and am back to staying in hotels, the "cleaning" fees and other fees associated with STR are to high, also to many horrible people out there "running" them for the owners, one of the last STR we stayed at in Denver was a NIGHTMARE, lied about the number of bedrooms and beds available, place was dirty, it was HOT that weekend and A/C went out, yard guy came to mow yard at 7 a.m. on a Sat morning, I would MUCH rather stay in a decent hotel and it seems like from this article, so are others.