Exactly. A hotel-like 1-bedroom unit that might rent for $270/night is almost certainly going to rent by the month for far below (270*30.5)=$8235. Even assuming 30% vacancy, $270/night is $5764, vs. maybe $$2500/mo for a long term lease.
The other option, something like AirBnB, will result in lower overall fees but almost certainly higher vacancy than having the hotel manage everything and allow people to book it on e.g. Hilton.com or Expedia just like nay other hotel room.
Your math is spot on. Our unit is two bed/two bath, living room, full kitchen with a washer and dryer. Three pools , three restaurateurs on site, a well stocked convenience store, a running trail and a lake.
It’s Florida so it’s very seasonal. But we live there during low season.
Not for hotel style properties. The OP’s model is also super common.
Hotel nightly rates are generally much higher than the daily equivalent of monthly rent. You’d need more info to know which is a better deal.
Exactly. A hotel-like 1-bedroom unit that might rent for $270/night is almost certainly going to rent by the month for far below (270*30.5)=$8235. Even assuming 30% vacancy, $270/night is $5764, vs. maybe $$2500/mo for a long term lease.
The other option, something like AirBnB, will result in lower overall fees but almost certainly higher vacancy than having the hotel manage everything and allow people to book it on e.g. Hilton.com or Expedia just like nay other hotel room.
Your math is spot on. Our unit is two bed/two bath, living room, full kitchen with a washer and dryer. Three pools , three restaurateurs on site, a well stocked convenience store, a running trail and a lake.
It’s Florida so it’s very seasonal. But we live there during low season.