VACATION RENTAL ESTIMATES IN FLORIDA
VACATION RENTAL CALCULATOR
When starting a short term rental business, it is important to keep in mind its profitability. Get your vacation rental estimates in Florida.
ESTIMATE THE VALUE OF YOUR RENTAL
The requirements of seasonal rentals are different from those of traditional rentals. Guests come for a few nights or a few days only and pay particular attention to these criteria:
- Nearby amenities and easy access
- Geographical location
- General state of the rental
- Furniture
- General decoration and architecture of the property
- Housing capacity
- Various small details and services available in the property.
So to please tenants and ensure a comfortable rent price that covers all your expenses, you need to pay attention to every detail. You will be able to make an accurate estimate of the rent price for your seasonal rental once you have taken all of these aspects into consideration.
CALCULATE YOUR POTENTIAL INCOME
START BY ESTIMATING THE FLOOR PRICE
It is essential to know your floor price: the minimum rent that allows you to be profitable and not lose any more money. Below this minimum rent, you will rent at a loss.
List all expenses that have been made on the property:
- The bank loan
- The cleanup work
- The layout
- The furniture
- Advertisements
- Housework
- Management time
- Insurance
- Water and electricity subscriptions
- The internet box
- Maintenance costs
All of these expenses are your initial investment. Having this investment in mind allows you to have a clear estimate of the rent for your seasonal rental. Add a sufficient margin to avoid the unexpected and ensure a comfortable income.
EVALUATE THE COMPETITION
Airbnb, Booking, Expedia, Tripadvisor, etc. allow thousands of visitors to pass through their platforms that are likely to see your property. Make an estimate of the rent of your holiday rentals by making a comparison of the offers. Identify the properties that have the same price profile and positioning as yours. Go to the AirDNA website to make a comparative market study. AirDNA is a platform that centralizes the international data of all seasonal rental offers on Airbnb. It is the ideal tool to estimate your rent. Thanks to powerful algorithms, the platform shows you the average price of overnight rentals in your city, the occupancy rate and many other indicators.
AN ESTIMATE OF THE RENT FOR YOUR SEASONAL RENTAL
Thanks to AirDNA's tool and our own know-how, we have created a calculator which allows you to have a clear estimate of the rent of your seasonal rentals in Florida.
We use the average occupancy rate of the city as well as the average rent of the area to give you an estimate as close as possible to reality.