Here with a leasing and booking update for December, where our portfolio of single family residences and vacation rentals generated $794,441* in revenue.
Rental income dividends are now paid monthly to your Arrived Wallet starting February 26th! Read more about Arrived Wallet on the blog.
Single Family Residentials
In December, we secured new tenants for 17 Arrived single family residential homes across 12 markets for an average lease duration of 18 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 monthly dividends.
Overall, Arrived single family residential properties had a stabilized occupancy of 89.3%* with 279 occupied properties* collecting a total of $564,888*+ rent revenue in December.
December leasing activity
*All rents listed are per the property’s lease agreement and what we expect to collect for the property’s lease term.
December gross booking revenue & guest ratings.
In December, Arrived vacation rentals generated $229,553 in gross booking revenue for 36 booking-ready properties*. We are excited to share that our vacation rentals have an average guest rating of 4.88*.
The table below presents each bookable vacation rental’s gross booking revenue and guest rating score in December. 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 December reflects bookings from 12/1/2023 through 12/31/2023. Our guest rating is a weighted average for all bookable vacation rentals from the property’s bookable date to current (1/31/24). Want to stay at an Arrived vacation rental? Add it to your Airbnb wishlist ✨
Vacation Rental Status Updates
The Alta will be booking-ready in early February, while The Vita has been delayed until February due to holiday shipping issues for materials. 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.
*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.