Riding The VR Waves Of South Florida...
Every industry has it's season! And the vacation rental industry is no different than that of any other.
There are times of the year when travelers escape to South Florida in droves, seeking warmth, sun rays, and sun kissed tans of the southern tropics of the Americas. Then there are times when the Miami Heat is just too hot, and humid for a northerner to bare. This describes the waves of season within the vacation rental industry of South Florida.
I've found myself having to explain seasonality more often than not to so many that are venturing into short term rentals for the first time, especially if it's their first time experiencing a full cycle of seasonality.
My main advice is...this is not for the faint of heart. Being a true investor is key, and staying focused on the annual performance, and ROI of your property rather than just the monthly income revenue.
At its peak the income is unbelievable with extremely high margins, and throughout the slower season you can expect to make what your home is projected on a long term basis or slightly more, however you have a lot of calendar flexibility to utilize the home for your family, and friends throughout the summer months or most importantly sprucing things up for the upcoming peak season again.