Here with a leasing and booking update for April, where our portfolio of single family residences and vacation rentals generated $868,195* in revenue.
Rental income dividends are now paid monthly to your Arrived Cash Balance! Read more about the Arrived Cash Balance here.
Single Family Residentials
In April, we secured new tenants for 8 Arrived single family residential homes across 7 markets for an average lease duration of 20 months. Of these homes, 3 properties were leased over the forecasted amount.
All rental income generated from Arrived properties benefits its investors by adding to the property’s cash reserves or by being paid out as future monthly dividends.
Overall, Arrived single family residential properties had a stabilized occupancy of 91.38%* with 302 occupied properties* collecting a total of $637,629*+ rent revenue in April.
April Leasing Activity
*All rents listed are per the property’s lease agreement and what we expect to collect for the property’s lease term.
Vacation Rentals
April gross booking revenue & guest ratings
In April, Arrived vacation rentals generated $230,656 in gross booking revenue for 38 booking-ready properties.* We are excited to share that our vacation rentals have an average guest rating of 4.90.* With the arrival of spring, we're noticing a steady overall increase in vacation rental bookings across our portfolio. Arrived vacation rentals have been performing as expected through the spring, with an uptick of bookings in March followed by a post-spring break plateau in April.
The table below presents each bookable vacation rental’s gross booking revenue and guest rating score in April. The Billingswood and The Regal have recently experienced a change in property management. Due to this, we've newly re-listed both vacation rentals, and their guest rating scores will require time to accumulate.
It's important to note that vacation rentals are highly seasonal, which may lead to greater gross booking revenue deltas depending on the market or location of the property. Newly bookable vacation rentals typically require more time to reach revenue potential.
*Gross vacation rental revenue from the month of March reflects bookings from 4/1/2024 through 4/30/2024. Our guest rating is a weighted average for all bookable vacation rentals from the property's bookable date to current (5/31/24).
Want to stay at an Arrived vacation rental? Add it to your Airbnb wishlist ✨
Guest review highlights
"We had a great stay! House was clean, spacious, and comfortable. The spa is huge and we enjoyed relaxing in it after hiking during the day. The popcorn machine was fun for movie time. Easy check-in/check-out. Very close to downtown Joshua Tree and entrance to the park." - Guest review of The Mirage, 5/5 stars
"We came to the Charlotte Avenue place with high hopes and we were definitely not disappointed! Beautifully decorated and so comfortable! Set-ups in bathrooms and bedrooms were very welcoming! We will definitely be looking at this as our place to stay in Nashville for sure!! Quick responses to questions and great communication between us!!" - Guest review of The Opry, 5/5 stars
"One of the best airbnbs I’ve stayed in. Everything was clean, well-maintained and easy to use. We were sad to leave!" - Guest review of The Kinlani, 5/5 stars
"We loved our time in this home. We visited for spring break, and this was the perfect home for our family of four, plus my 70-year-old parents. We had plenty of space inside and out to enjoy the house. The kids loved the game room and pool. Would absolutely stay here again on a future visit." - Guest review of The Cactus, 5/5 stars
"The home was everything we needed and then some — everyone had a place to settle alone and to congregate when looking to get together as a group. The kids loved the bunk bed set up, and the little bit of privacy having their own floor gave them. Would stay here again and again!" - Guest review of The Solstice, 5/5 stars
Vacation Rental Status Updates
The Vita continues to progress in the design and rehabilitation stage. Updated booking timelines will follow as future work is defined and can be found on the property's page. Each month, we provide additional updates on our property pages for vacation rentals that are not yet booking-ready or have significant property updates. Preparing a property for booking involves various tasks such as renovation, design, furnishing, and obtaining permits.
Estimated booking-ready dates for upcoming vacation rentals:
Learn more about our vacation rental preparation process.
*These figures include only stabilized IPO properties. All figures are unaudited and may be subject to change.
*Stabilized Occupancy includes homes that are occupied or are 90+ days rent-ready from their initial improvements (single family residential properties only). Properties may be removed from stabilized if significant impairment outside of the ordinary course of operations requires material action for an extended period of time.
*In an effort to improve the accuracy of our property performance reporting, we will be adjusting the content and cadence of some metrics to provide the most accurate information in alignment with associated SEC filings.
