The modern definition of success has evolved from a high paying job to multiple streams of passive income. Vacation rentals are the new investment buzzword as an individual property can generate a six-figure income if done right. As every business-savvy person knows, vacation rental success relies on a destination with hot demand – and there’s nothing hotter than a Florida beach!
New Smyrna Beach is a beloved family vacation spot. With 13 miles of sandy beach and vacation rentals as the accommodation of choice, NSB is the ideal place to purchase a vacation condo or home. Discover why a New Smyrna Beach vacation rental is a smart financial move.
Extra Source of Income
Who doesn’t dream of a second source of income? New Smyrna Beach vacation rentals witnessed exponential revenue growth over the past year thanks to a resurgence in travel. In 2021, Great Ocean Condos and Homes generated over $9,000,000 in rental revenue for our property owners. Additionally, our top 5 vacation rentals made well over $100,000 in the span of one year!
When looking to purchase property in New Smyrna Beach, our recommendations for success are:
- Purchase an oceanfront property. If not oceanfront, find something oceanside.
- Make sure the property’s neighbors and/or complex management don’t mind renters.
- Ensure the property doesn’t fall within Volusia County’s 30-day rental zone. Some parts of New Smyrna Beach only permit 30-night rentals, and this restriction greatly hinders revenue success.
Meeting your annual revenue goals is one of Great Ocean Condos and Homes’ top priorities. Our rate management team is constantly evaluating the market and historical trends to ensure your vacation rental is maximized for revenue. See how we set rental rates.
High Demand for Beach Destinations
The pandemic altered many things, but not everything was for the worse. Over the past several years, travel patterns shifted from international destinations to local vacations. Many craved a getaway far from the crowds with fresh air and space to spread out.
Unlike big cities, beach and mountain destinations have seen monumental rental success. A 2022 vacation rental industry prediction from Evolve states, “We recently surveyed over 5,000 travelers and found that 58% are interested in exploring the outdoors and 68% are planning trips around wellness and relaxation next year.” Destinations like New Smyrna Beach are a safer investment option compared to cities as demand is not as greatly affected by the pandemic and its resurgences.
Ideal Guest Demographic
Unlike Daytona and Miami, New Smyrna Beach is known for being a quiet, family-friendly destination. Its shore doesn’t see droves of college students on spring break or wild parties going long into the night. NSB’s demographic is primarily composed of families with children and snowbirds. With a demographic like this, you’ll find your vacation rental treated with respect and cared for well. Great Ocean Condos and Homes is dedicated to protecting your investment and therefore does not permit guests under the age of 25 to book.
You Have Your Own Place to Stay
The best perk of purchasing a New Smyrna Beach property? You always have a place to stay when visiting! Claim a spot along the shore and enjoy the privilege of a beach getaway awaiting you whenever you need a break. If you love a taste of luxury, we recommend purchasing an oceanfront home on Hill Street or a condo in Ebb Tide, Atlantic Villas, or Seacrest. If you don’t mind being a brief walk from the tide, we suggest purchasing in Oceanwalk as they have fantastic onsite amenities and spacious layouts. Regardless of where you buy, you’ll find that there’s nothing like having a home by the sea.
Vacation rental management is simple… if you have a team of professionals handling it! Let Great Ocean Condos and Homes alleviate the stress of managing bookings, scheduling cleanings and maintenance, responding to reviews, etc. We offer New Smyrna Beach vacation rental owners turn-key services that encompass reservations, customer support, rental rate management, cleaning, maintenance scheduling, marketing, advertising, and more.
With over 14 years of rental management experience, our team is ready to make your vacation rental investment a success. View our management services online and list your NSB vacation rental with Great Ocean Condos and Homes today.