Here with a leasing and booking update for October, where our portfolio of single family residences and vacation rentals generated $581,361* in revenue.
Rental income dividends are paid quarterly in January, April, July, and October to investors.
*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.
Single Family Residentials
In October, we secured new tenants for 13 Arrived single family residential homes across 9 markets for an average lease duration of 19 months. Of these homes, 7 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 dividends.
Overall, Arrived single family residential properties had a stabilized occupancy of 86.90%* with 254 occupied properties* collecting a total of $425,494*+ rent revenue in October.
October 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
October gross booking revenue & guest ratings
In October, Arrived vacation rentals generated $155,867 in gross booking revenue for 34 booking-ready properties*. We launched 1 new vacation rental in the Asheville market on booking platforms like Airbnb and VRBO. We are excited to share that our vacation rentals have an average guest rating of 4.87*.
Two vacation rentals went live on Airbnb in November, The Koi, and The Billingswood. More details on November vacation rental performance will be given next month. An additional 2 vacation rentals are on track to be booking-ready by the end of the year. See each property’s page for detailed status updates.
The table below presents each bookable vacation rental’s gross booking revenue and guest rating score in October. Overall, these vacation rentals have demonstrated strong ROI and occupancy is performing as expected. Newly bookable vacation rentals require more time to reach revenue potential.
October vacation rental guest ratings by property
*Booking revenue from the month of October reflects bookings from 10/1/2023 through 10/31/2023. Our guest rating is a weighted average for all bookable vacation rentals from the property’s bookable date to current (11/30/23).
Want to stay at an Arrived vacation rental? Add it to your Airbnb wishlist ✨
Vacation Rental Status Updates
In October, we successfully launched 1 new vacation rental on popular booking platforms such as Airbnb and VRBO — The Knoll in Asheville, NC. Each month, we provide additional updates on our property pages for vacation rentals that are not yet booking-ready. 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.
The opinions expressed in this article are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual or on any specific security or investment product. The views reflected in the commentary are subject to change at any time without notice. View Arrived’s disclaimers.
