Topsail Island Vacation Rental Property Management Case Study
All of our case studies are from actual homes or properties we have managed to show our track record.
Owners of a tidal creek lot on N. New River Drive in Surf City decided to build a vacation rental property.
The home was located on the waterway side of N. New River Drive. This meant it was less desirable for families since they had to cross the main road and several secondary roads to get to the beach access.
The home was completely unfurnished since it was new construction.
The home had no notoriety in the vacation rental market.
The home must produce income for it’s expenses and turn a profit afterwards.
Lewis Realty Associates, Inc. was contacted by the owners a few weeks before the home’s Certificate of Occupancy was issued to project pricing, offer furnishing recommendations and begin crafting a marketing plan.
Several months later the home was furnished. Lewis Realty Associates, Inc photographer shot the home using exposure fusion techniques, crafted a 360 x 360 degree virtual tour and produced a video of the home complete with aerial videography. Aerial shots showed home in connection with short walk to beach access as well. Lewis Realty Associates, Inc. then added the property into it’s vacation rental marketing program which included over 16 vacation rental websites at no extra charge to the owners.
Being in the winter time or off season, Lewis Realty Associates, Inc. secured a seasonal tenant that earned extra revenue for the home instead of allowing it to sit empty during the off season.
The seasonal tenant left in the second week of June and the vacation rental bookings began two days after the latter tenant’s departure. The home was continually booked throughout the season back to back, week after week. Much of the fall season the home had tenants as well.
Broad Internet Advertising To Reach Potential Tenants.
Professional Photography To Highlight the Home.
Professional Videography To Provide Potential Tenants a Virtual Experience Before Booking.
Calculated Rates To Out Book Competition.
Leveraging the Established Lewis Realty Associates, Inc. Brand
- Leveraging two different type of rental setups (vacation and seasonal rental).
The first season results were:
Nights Available To Rent: 320 Nights.
Nights Booked: 265
Occupancy Rate: 83% for the year.