The Sarasota and Tampa areas have always been popular areas for travelers. But as the vacation rental industry grows, so does the need for vacation rental properties.
To help current and prospective homeowners, we analyzed thousands of vacation rental listings and compiled our Vacation Rental Performance Reports for the Tampa and Sarasota areas, including Clearwater, St. Petersburg, Treasure Island, Indian Rocks Beach, Anna Maria, Siesta Key, Bradenton Beach, Longboat Key, and Venice.
The reports will give you insight into average rental income, occupancy rates, and booking windows.
- Year-round warm weather
- Well-kept beaches
- Variety of attractions
How Much Can You Earn With A Tampa Area Vacation Rental?
Tampa, Clearwater, St. Petersburg, Treasure Island, and Indian Rocks Beach attract beachgoers from across the country. Boasting an active art and restaurant scene, as well as miles of quality beaches, the Tampa area is a great place to purchase an investment property.
According to our report, studio properties have the highest yearly occupancy rate with 64% of the year booked up.
With a studio, owners can expect to make $14,135 at the 50th percentile. If homeowners go above and beyond both with their marketing strategies and customer service, they can make $18,765 a year in the 75th percentile.
The second most bookable property type is the one-bedroom, which gets booked an average of 61% of the year.
A one-bedroom in Tampa can make you make $14,605 a year at the median. But by going the extra mile and reaching into the 75th percentile, you’ll make $21,707.
One-bedrooms and studios are popular properties in the area because Tampa boasts a big nightlife scene and younger travelers tend to travel in smaller groups and require smaller properties.
How Much Can You Earn With A Sarasota Area Vacation Rental?
Sarasota, Anna Maria, Siesta Key, Bradenton Beach, Longboat Key, and Venice have always been popular destinations for travelers coming to take in the beaches, enjoy the outdoor activities, and view the beautiful sites.
The property size with the most yearly bookings is the five-bedroom, with 72% of the calendar booked per year. That’s a big difference from the popular property types in Tampa, most likely caused by the number of large families who travel to the Sarasota area.
At the 50th percentile, five-bedroom properties make $115,442. But homeowners that pay attention to their property and their guests’ experiences can make $138,148 at the 75th percentile.
The second most booked up property is a studio with 63% of the year filled with bookings.
Studios that perform at the median make $17,373 a year, but those that beat out the competition and perform in the 75th percentile make $27,900.
How To Be Successful With a Vacation Rental in the Tampa and Sarasota Areas
For the most part, being located in either the Tampa or Sarasota areas already guarantees bookings. Homeowners who put a good amount of effort into marketing, updating, and servicing their properties can pack even more of their calendars with bookings and get the most out of their investments. Here’s how:
Create a Professional listing
Because of stiff hotel competition in both Tampa and Sarasota, it’s important that vacation rental listings have the same level of professionalism you’d find on a hotel website:
- Professional photos
- Descriptions free of errors
- Updated calendar
- Quick response time
Provide Updated Appliances
Homes in the 75th percentile boast new amenities and top-of-the-line appliances.
Properties that supply their guests with updated kitchen and bathroom amenities give their guests a better experience and a bigger reason to leave a great review.
Have Desirable Outdoor Amenities
The closer a coastal vacation rental is to the beach, the better it performs. But that doesn’t mean that being a few miles away from the coast will keep you from getting bookings. There are many ways to improve your guests’ outdoor experience:
- Build a deck where guests can dine and relax
- Invest in a private pool
- Provide access to a nearby private pool
- Invest in a hot tub
DOWNLOAD OUR FULL REPORTS ON THE SARASOTA AREA and TAMPA AREA VACATION RENTALS
Here are some of the statistics you’ll learn from our free 2018 Vacation Rental Performance Reports for the Sarasota and Tampa areas:
● Rental income potential by property size
● Average occupancy by property size
● Average daily rate by property size
● Average days booked in advance
● Average length of stay
● Vacation rental inventory by property size
● Occupancy rate by month
No matter the property size or location, Evolve’s expansive team knows how to get your property the bookings it deserves, while minimizing the hassle for you. Click here to learn more.
The Tampa and Sarasota Area
Vacation Rental Performance Reports
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