OBJECTIVE; own a vacation home as an investment for the future, cover your annual operating expense, while enjoying a personal benefit of being able to use the home for family holidays.
Orlando Vacation Homes – Charles Valeston, La Rosa Realty: With this objective in mind you must decide how to maximize your potential rental income and when to schedule your family holiday. Like most people the decision will require some tradeoffs.
Remember 55,000,000 people vacation in Orlando each year to visit Walt Disney World and as a vacation home owner you are in a mini-hotel business. Like hotels, higher occupancy means more rental income. “What are the peak occupancy months?” The chart below ranks each of the months by the percent of occupancy.
There are a few facts that the graph shows, and some trends that may need further explanation or clarification.
- The occupancy volumes “track” very closely each year. In other words, the same pattern of occupancy in, for example May, is reflected each year. This indicates that the pattern is statistically reliable, and arrival or occupancy patterns can expect to follow this pattern in future years.
- Peak month occupancy is already above industry standards. Orlando peak months of July and March are above 85% occupancy, so there are few available date “blocks” to book during those months. Those are the months where you can generate the highest return in revenue and owners should if at all possible avoid scheduling their family holiday.
- December may come as an initial surprise to many owners. The graph shows that it is not one of the highest occupancy months. However, the volume increase for December each year is purely due to the holiday period. The rest of the month is comparatively “dead”. Again, avoid scheduling your family vacation during the holiday period.
- November may also be a surprise for the same reason; Thanksgiving is only a 5 day period in the third week of the month. Therefore it has a limited effect on the overall month’s occupancy volume.
- Conversely, the low seasonal months are clear and have the highest available occupancy. If at all possible these are the best times to schedule your family vacation.
If through your own personal efforts, you are successful in booking your vacation home from within your own circle of friends and family during these low seasonal months the shift in booking volumes will have the greatest impact on your occupancy. Please remember, owner bookings for the 6 months with the lowest occupancy will increase your overall occupancy dramatically and increase your revenue.
Please visit www.vacationhomes-orlandofl.com for other tips about vacation home ownership. In the meantime good luck and good house hunting.