Daytona Beach, with NASCAR, beautiful beaches and in close proximity to most of Florida’s tourism treasures, is a thriving vacation rental market. The area attracted 10.2 million tourists in 2018, the sixth consecutive record year of growth. Overnight visitors spent $6.1 billion dollars and vacation rentals are flourishing, making monthly income in the $1,250 range for one-bedroom units like our partner. Mashvisor, a prime data source for vacation rental investors, Daytona Beach is the top-performing beach destination for vacation rental properties. Investors are seeing a 7.6% cash-on-cash return.
Our homeowner partner, had spent over a year with one of our competitors, with disappointing results. He tried six weeks with another of our competitors before coming to RedAwning because he just wasn’t getting his fair share of a lucrative and growing market. Before RedAwning he was earning slightly less than $250.00 per booking and an average of five bookings per month.