Here with a leasing and booking update for September, where our portfolio of single family residences and vacation rentals generated $643,662* 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 September, we secured new tenants for 18 Arrived single family residential homes across 8 markets for an average lease duration of 20.6 months. Of these homes, 11 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 87.90%* with 256 occupied properties* collecting a total of $520K*+ rent revenue in September.
September 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
September gross booking revenue & guest ratings
In September, Arrived vacation rentals generated $122,974 in gross booking revenue for 33 booking-ready properties*. We launched 1 new vacation rental in a new market, Lake Ozarks, on booking platforms like Airbnb and VRBO. We are excited to share that our vacation rentals have an average guest rating of 4.87*.
An additional 4 vacation rentals remain on track to be ready for booking by November. 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 September. Several properties, as indicated below, experienced a property management transition. These transitions can result in temporary lower gross booking revenue. As of October, they have all been re-listed and taking new booking reservations. The Airbnb booking links are live on each property’s page. Listen to our vacation rental’s leadership team speak on the property management transition here.
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.
September vacation rental guest ratings by property
*Booking revenue from the month of September reflects bookings from 9/1/2023 through 9/30/2023. These figures are unaudited. Our guest rating is a weighted average for all bookable vacation rentals from the property’s bookable date to current (10/28/23).
Want to stay at an Arrived vacation rental? Add it to your Airbnb wishlist ✨
Vacation Rental Status Updates
In September, we successfully launched 1 new vacation rental on popular booking platforms such as Airbnb and VRBO — The Solstice in Lake Ozark, a new Arrived market. 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.
