Thursday, May 15th, 2014
Dune Real Estate Company Releases Comprehensive Study of the WaterColor® Resort Rental Market
In the most comprehensive study published to date, the Dune Real Estate Company has compiled a database of rental information on 222 rental properties in the WaterColor community representing 19,336 booked nights during 2014 as of the end of the 1st Quarter.
This database includes information from the six largest rental companies and VRBO; it calculates the average daily and weekly rental rates using property location and number of bedrooms as key market variables, providing for the first time a comprehensive analysis of the WaterColor rental market.
Gulf front homes topped $10,000 a week in rental income. The average weekly rental rate across all properties in the study was $4,083 with a daily rate of $583. Rental rates reported by owners are estimated to have increased between 7-12% in comparison to last year.
Individual property performance varied significantly based on the overall effectiveness of the vacation rental company provider as measured by the number of days booked year to date and effectiveness of the rental pricing strategy as measured by its’ estimated annual income.
Dune Real Estate Company’s property owners had on average 231 nights booked that are estimated to generate $122,863 in rental income during 2014; validating its’ business strategy to provide customers with the highest yield on their vacation home investment.
Bob Dickhaus, Manager of Dune Real Estate Company, commented “this study for the first time gives property owner’s real insight into how their specific property is performing compared to other similar properties in the marketplace. It also gives Dune a significant competitive advantage in partnering with owners who are seeking to increase the yield on their vacation rental investment by providing actionable information about rental rates, seasonality and competition.”
Dune Real Estate Company is a vacation rental, maintenance and concierge service provider to owners of luxury single home properties. Dune is a privately-owned firm located in Grayton Beach, Florida.
WaterColor® is a community of approximately 700 homes in the Panhandle of Northwest Florida and is a registered trademark of the St. Joe Company. St. Joe did not authorize or endorse this study, which was compiled with publically available information by Dune Real Estate Company, LLC. All data is estimated based on rates and occupancy projections at the end of March 2014 and may change materially. ALL DATA IS ESTIMATED WHICH MAY BE INACCURATE ON A PROPERTY LEVEL AND IS NOT A GUARANTEE OF FUTURE REVENUE. DUNE MADE ITS BEST EFFORT TO CAPTURE ALL RENTAL PROPERTIES BUT DOES NOT WARRANT THIS LIST FOR COMPLETENESS OR ACCURACY.
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