Vacation Rental Business Booming in Kissimmee
If you consider purchasing a vacation/investment home in the Disney area, take a moment to read the 2021 vacation rental performance overview below.
After losing tens of millions of tourism tax dollars due to the COVID- 19 pandemic in 2020, the vacation rental industry in Osceola County was able to quickly recover and thrive. Despite being down about 10,000 homes compared to the 2019 inventory, the vacation rentals in 2021 outperformed their 2019 pre-pandemic numbers. For seven years Aowei Yin has been managing vacation rental home properties. Five of those most recent years have been in Kissimmee. Back in November of 2021 he was managing about 100 properties at the Villas at Seven Dwarfs in Kissimmee, which from Christmas week of 2021 to April of 2022 was nearly fully booked.
“When people realized I could not travel anymore revenues went down,” Yin said. “It reduced down to $57 million, that’s about $80 millions lost.”
Yin is analyzing data from AIR DNA, a web site that compiles statistics from Airbnb, VRBO and other major booking sites. According to Experience Kissimmee, vacation homes have out stayed and out paid hotels throughout 2021. Vacation homes were also generating more than 50% of the tourism tax dollars month after month through the entire year. “We were 90 to 95% booked for vacation home rentals, with most of those locations being sold out,” Experience Kissimmee Chief Marketing Officer Casey Leppanen said back in November. “We are seeing the same thing for Christmas and New Year’s, so all signs are pointing too, hate to say it, best year ever.” In 2020, Yin said people who owned a vacation home in his community lost about $10,000 to $20,000. But in 2021, everyone turned out to be a winner he said.
“Depends on the design, how many days available but if you are talking about the revenue, it’s about $30,000 to $50,000 for a four bedroom,” Yin said. The 2021 Thanksgiving week hotels in Osceola County, according to Experience Kissimmee, were at 83% occupancy. Vacation rental homes were nearly fully booked at 95%.
“Not back to normal, better than normal,” Yin said. It is no news that Central Florida has also seen a boom in the real estate market. Therefore, if you consider purchasing your very own vacation/investment home, talk to us today and let us guide you through the process. Act now, while interest rates are still historically low and save big on 2022 projected home price increase.
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