Here with a leasing and booking update for March, where our portfolio of single family residences and vacation rentals generated $968,486* in revenue.
Rental income dividends are now paid monthly to your Arrived Cash Balance! Read more about the Arrived Cash Balance here.
For a more comprehensive financial analysis, read our Q1 Financial Performance and SFR Fund Q1 Report.
Single Family Residentials
In March, we secured new tenants for 16 Arrived single family residential homes across 11 markets for an average lease duration of 20 months. Of these homes, 9 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 92.79%* with 305 occupied properties* collecting a total of $620,766*+ rent revenue in March.
March 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
March gross booking revenue & guest ratings
In March, Arrived vacation rentals generated $326,431 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.
The table below presents each bookable vacation rental’s gross booking revenue and guest rating score in March. 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 3/1/2024 through 3/31/2024. Our guest rating is a weighted average for all bookable vacation rentals from the property's bookable date to current (5/1/24).
Want to stay at an Arrived vacation rental? Add it to your Airbnb wishlist ✨
Guest review highlights
"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 Coquina, 5/5 stars
"Beautiful home minutes from the main parkway in Gatlinburg. Looks just like the pictures. Very spacious and filled with everything we needed for a cozy getaway. Super responsive host who cares about a guest's experience. Would definitely stay here again!" — Guest review of The Loop, 5/5 stars
"Our stay was nothing short of amazing. The property was as described and accommodating for a large family/group. There was plenty to do onsite for guests of all ages. We will certainly be returning in the future!" — Guest review of The Pickler, 5/5 stars
"House was better than expected. Comfortable bedding with spa-like bathrooms. The kitchen was well-stocked and spacious. The jewel of this home is the backyard. Professional pickleball court that also doubles as a basketball court. Heated pool and putt-putt area. We played golf by day and came home to pickleball and basketball games in the evening. The lighted court allowed us to play to neighborhood curfew at 10 pm. Within 20-25 minutes of Troon North, Boulders, and TPC, plus many other courses. Whether family trip or golf trip, this will be our base camp going forward." — Guest review of The Pointbreak, 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.
