On October 11th, Arrived launched its second, third, fourth, and fifth vacation rentals on its platform, one of which was dubbed “The Hammock.” The Hammock is located in the Clearwater/Largo market of Florida’s west coast, one of the hottest vacation rental markets in the state. Here’s some information on how The Hammock came to life.
Our Property Management Partner
Once we decided to enter the Florida vacation rental market, the first step was finding a property management partner. Roseus Hospitality is a leading property manager in this market, offering “owners and guests the service experienced at a luxury hotel for over 40 properties in several Florida markets.” Roseus’ team hails from world-class organizations, including both Disney and Universal hospitality groups, so it’s no wonder it carries such high ratings on Airbnb and VRBO. It’s also important to note that a portion of Roseus’ rental proceeds is donated to a local charity allowing its “owners and guests to vacation for good.”
The Deets
For this Florida property, we turned to our partner at Roseus to help pick the perfect location and set the budgets for purchasing and renovating. We immediately became interested in the Clearwater/Largo area because of its excellent market grade for short-term rentals on Airdna.
Once we honed in on a property and checked local regulations, we got it under contract quickly. The purchase was completed on August 23rd, and permitting was granted on September 6th, 2022, allowing us to get right to work with the renovations.
When our team was discussing themes for The Hammock, we knew that the close-to-beach property should exude the spirit of the beach. Still, we wanted to take it a step further and go for a more tropical and chill vibe that oozed relaxation, like what you would experience at a top-notch resort in Tulum.
Like Nashville with “The Oasis,” Clearwater/Largo is a high-competitive market for vacation rentals, so our team had to ensure that The Hammock offered all necessary amenities – with this and initial estimates in mind, we allocated $191,000 to our design budget. Let’s check out some Before & After pictures before reviewing the budget…
Before & After
Without further ado, let’s take a look at some of the before and after photos taken by our team:
Reviewing the Transformation
As you can see, it was an awe-inspiring transformation. Even better, we were able to stay well under our budget.
The design costs included:
- Kitchen remodel: $19,925
- Primary suite bathroom remodel: $9,255
- Guest bathroom remodel: $7,371
- Interior painting: $6,437
- LVP flooring for entire home: $14,289
- Backyard items: $5,900
- Furnishing for primary suite: $3,525
- Furnishing for guest bedrooms: $3,744
- Furnishing for family room: $3,062
- Furnishing for dining room: $3,320
- Staging: $5,100
- Design fee: $4,875
Needless to say, we were very pleased with the results.
Let the Bookings Begin
Upon completing all design work on November 10th, our team ensured everything was perfect before getting the listing live on platforms like Airbnb and VRBO on November 18th. In just the first ten days of being listed, The Hammock received five bookings for 32 nights and a whopping $7.2k in gross booking revenue.
What Do Guests Think?
The Hammock only has one official review thus far, but we’re glad to report that it’s five stars!
The Hammock has the potential to become one of the most sought-after vacation rentals in Clearwater in the years ahead.
Book Your Stay at The Hammock
If you want to be a guest at The Hammock, here’s where you can book your stay:
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