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#371086 - 03/20/10 09:40 PM Vacation rentals in AC - occupancy rate
Lauraf Offline
Hello everyone!

I'm building a house later this year on AC, and I was just curious if there are any owners of vacation rental properties who could help me out with some information.

I'm curious as to the occupancy rate you tend to have on your properties. I'm considering whether I will rent out my own (soon to be built) home and just curious on average what % of the time I would find renters.

Thank-you very much for your help and advice!

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#371087 - 03/20/10 10:07 PM Re: Vacation rentals in AC - occupancy rate [Re: Lauraf]
ron Offline
You need to let people know where the house is, location does make a difference. What would comparable places be. Some houses have a lot more house than others. Ac, pool, toys available(e.g. kayaks, etc) also make a difference. Who will handle the rental while your sitting watching your money. There is a thread going now on cost to build. Build at the $100 per sq. ft level will rent for much less than one built for $350. You would be probably best served my contacting either real estate agents or rental agents directly rather than a few individuals on this board. There are several agents on this board who I'm sure would be glad to talk with you about the rental market. I have my house on CC not in AC nor do I rent my house out, but I doubt the occupancy rate is very high. Good Luck with your project.

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#371088 - 03/20/10 10:12 PM Re: Vacation rentals in AC - occupancy rate [Re: ron]
Lauraf Offline
Thanks Ron!

There are so many variables to consider! You make a great point about the cost per square foot relating to the cost that it will rent out for.

I'm hoping for a 25% occupancy rate, with my own dates of when I will be in AC being very flexible, so I hope that I'm not reaching to far!

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#371113 - 03/21/10 05:15 AM Re: Vacation rentals in AC - occupancy rate [Re: Lauraf]
CaptOneIron Offline
Have a look at 'Journey's End' and 'Belize Legacy' and there are probably a few more in similar situations. I would think 25% is very unlikely unless your property is truly different than others (in a good sense) available.

Not trying to be discouraging but if you are counting on this money from rentals I would be very cautious.


Edited by CaptOneIron (03/21/10 05:17 AM)
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Captain One Iron

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#371128 - 03/21/10 04:03 PM Re: Vacation rentals in AC - occupancy rate [Re: CaptOneIron]
Phil Offline
Location is key. If beachfront perhaps more so. Number of bedrooms too. I would think 20% is achieveable.

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#371142 - 03/21/10 05:19 PM Re: Vacation rentals in AC - occupancy rate [Re: Phil]
Lauraf Offline
Thanks everyone for the tips! I do have a few ideas of how to make it a bit "different", and in adding in some extra amenities for renters. Also, I'm not counting on the money from renters, but certainly hoping for some! In the meantime, I'm trying to balance out what to expect. We are building on the west side, on a waterfront lot near the new Marina.

I've been looking at the availability calendar's on VRBO and some other similar sites and it seems that most of them are are booked for a reasonable amount of time, however I have no idea how much of that time is booked due to owners time in Belize, and how much time is taken up by renters.

CaptOneIron - thanks for the two suggestions, though I'm not sure if that is the same situation as those are developed properties and I would be looking to rent out a single home.

Thanks for the help!

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#371155 - 03/21/10 05:57 PM Re: Vacation rentals in AC - occupancy rate [Re: Lauraf]
CaptOneIron Offline
You are most welcome. The reason I mentioned those is that I own property next to each of them. I have a house between Journey's End and Las Terrazas and a lot on the beach next to Legacy. I think the other area where you need to be careful is who you have looking after the place while you are not there. They can make a big difference depending on how they prepare for a renter before arrival and get your place back in order after departure.


Edited by CaptOneIron (03/21/10 05:59 PM)
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Captain One Iron

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#371160 - 03/21/10 06:18 PM Re: Vacation rentals in AC - occupancy rate [Re: CaptOneIron]
Lauraf Offline
Thanks! I'm still in the planning stages, so once the house is actually up I may PM you to ask for suggestion on who to have look in on it for me.

Can I ask, what percentage of the time do you have your places rented out for?

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#371182 - 03/21/10 11:04 PM Re: Vacation rentals in AC - occupancy rate [Re: Lauraf]
CaptOneIron Offline
I really have no idea what the percentage is. However ours is pretty high end and probably not a good guide. You can have a look at: http://absolutebelize.com and see the house and the rates. My house is Solaria II and so far this year it has been rented approximately 15 days though it is already booked for another 15 between now and May sometime. So let's say one month out of five or 20% but a more realistic would I think be probably 40+ days out of 365 perhaps even as many as 60 but I doubt it. Of course we only began renting it this year and I would expect to get some repeats and some referrals.
_________________________
Captain One Iron

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#371187 - 03/21/10 11:52 PM Re: Vacation rentals in AC - occupancy rate [Re: CaptOneIron]
Lauraf Offline
Thanks for the estimate!

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