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Working out a likely annual occupancy rate

Hi, very new to this :slight_smile: what would be the best way to work out a reasonable annual occupancy rate to project a likely yearly income.

Thanks in advance

Ty.

How many listings are in your area? Is it a common tourist area? Is it a major business destination? How competitive will your pricing be? What sort of amenities will you offer? How clean will you keep your place? Will you block off a day between guests? Will guests give you good reviews?

There are endless variables. The markets are constantly changing. A little more detail or a link to your listing might help us guess.

Go here: http://www.bnbsonar.com/ and check your competitors occupancy rates in your area. That should give you a good idea what you should expect.

You will also increase your occupancy rates by listing on several sites and syncing up the calendars.

It will depend on your location, tourist area or not, pricing, many variables. I was able to figure it out with time. Not as a projected item.

How many listings are in your area? Is it a common tourist area? Is it a major business destination? How competitive will your pricing be? What sort of amenities will you offer? How clean will you keep your place? Will you block off a day between guests? Will guests give you good reviews?

There are endless variables. The markets are constantly changing. A little more detail or a link to your listing might help us guess.

Hi felixcat, thanks very much, it is a common tourist area Cairns, Australia - Yorkeys knob its a beach just north of cairns. I have made a calculator in excel likely income and outgoings and set my nightly price point at the lowest level compared with other properties within the area. Its just I dont exactly know what kind of percentage I need to work on for occupancy I think the price is pretty write its just how often the place is filled. I will be trying to set up a beach side quirk. If I have around 65% occupancy for the year it makes it worth it for me :slight_smile:

Thanks for that, I havenโ€™t listed yet is there a way to view this without a listing??

Thank you Evelyn, I appreciate the feedback

Thank you felixcat I wrote the reply below sorry

Is the goal to determine whether to rent it long-term or short-term?

Yes Basically, Im looking to increase cashflow and do something different :slight_smile:

Has the space been rented in the past?

Its currently rented, I do it privately they are good tenants but I would like to increase the cashflow

How much are you expecting it to pick up by? I would guess there is practically no effort involved with your current setup. Is a portion of the desire having the ability to use the space from time to time?

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