Ideas for offseason in a good tourist town
Ideas for offseason in a good tourist town Nov 2, 2018 9:16 PM
I managed to close on a large property with 4-5 apartments and 2 commercial spaces two weeks ago.
Unfortunately, it is now offseason and although a Poconos property, 30 minutes from the nearest ski resort(s).
So I wound up renting them out to a few people for a fair market rent - 13 weeks minimum. I furnished them and filled 3 apartments in a week. Happily, a small hip tourist town but limited rental options for locals. I need to get through the winter.
What I am NOT sure, is how to optimize such an arrangement. I am new to Vacation Rentals but experienced in Rentals.
Peak season is supposedly May/June through the end of October. And January-March DEAD. That is what I hear.
My initial plan is to rent out the apartments from perhaps November 1 to about end of April on a weekly basis annually
--> Of course, the people I brought in don't know I plan to request them to leave when I give notice (as in the contract) and it might be a little ugly for those to hang on. Contract makes it clear this is a short term facility (based on the Pennsylvania Inns Act). But I think I can manage that when I describe what happens when an Eviction goes on their credit history if they wind up in court.
--> And of course, maybe November and December are actually better than I expect, but I have no useful data. Maybe April is good or not. Maybe May sucks.
--> Maybe rent a few and keep a few VRs to see which does better.
Any ideas/thoughts to optimize this plan would be appreciated.
Re: Ideas for offseason in a good tourist town Nov 5, 2018 8:51 AM
My properties are down on the Shenandoah River in VA, so maybe a similar situation. What's worked best for me in terms of amenities are:
a) Hot tubs
Basically, what can you do to make things fun when trapped inside?
If your area is like mine, you can expect to rent all the holidays in the winter with at least 3 night stays, maybe 5 or 7 if you're lucky, and then most of the other weekends with 2 night stays. I haven't been able to rent more midweek time in the winter, but I'm experimenting this year with dropping prices a couple weeks out to see if that helps fill in the gaps.
Re: Ideas for offseason in a good tourist town Nov 7, 2018 6:55 PM
we are year round and things like game rooms, hot tubs , fire pits, multi channel TV in every room is a must. You can see my cabins at smoky-mountains-cabin.com/cabins and see what we offer. whatever makes you stand out - go for it.