Can I make money on a short term rental townhome in the Regal Palms Resort in Davenport, Florida?
I specialize in Regal Palms among many others in the area. Regal Palms is a nice community for the price point, however you shouldn't rely on a property manage to turn a strong ROI here. What you're hoping for is to cover your running costs and use the property yourself for friends and family. Depending on your budget, there may be better options for a stronger ROI in the short term rental zone of the area. The best way to increase your ROI on any property is to be an active owner. This means you book market and book the home yourself to colleagues, associates, etc as well as some websites such as www.homeaway.com and many others. Social networking alone could really prove beneficial, if those you work or associate with know you have a vacation home in the Disney area, you could offer them wholesale rates during off season. These are times when the property manager typically will not be booking the home anyway. Therefore, you'll increase your occupancy rate and income. Not to mention, most property managers charge a much smaller booking fee or none at all for owner bookings. There are several other important factors to understand in Regal Palms. If you'd like more information or particular ROI statistics or other points to be aware of in Regal Palms, please call or email me directly.
Realtor & Vacation Home Specialist
LaRosa Realty & Jerry Barker Vacation Homes