It's one of the most common queries we receive from investment-minded buyer clients.
Park City & Deer Valley ® Owners Love Winter Revenue
Not surprisingly, the winter months will generate the bulk of your annual rental revenue. There's demand for rental properties in Deer Valley and Park City.
How To Generate Rental Income When it's not Snowing?
The trick--from an investment perspective--is to discover which properties will be rented during the other 8 months of the year, albeit at lower nightly rental rates than in the peak winter season.
Amenities Help Maximize Park City Rental Income
The difference that top cash-flow properties offer relative to inferior cash-flow properties is on-site amenities.
Take Stein Eriksen Lodge, for example. The new conference center they built a few years ago, plus the spa, restaurants, bar, room service, and business center are all additional profit centers for the owners, who share in the profits from these assorted operations.
Most important is the group business that the hotel's group sales office generates. Bringing groups of 100-300 people at a time to the lodge for 3 or 4 days tends to boost the occupancy!
Increased Rental Revenue = Increased Appreciation Potential
Here's the catch...as the management has improved the profitability of the hotel and owner profit sharing has increased, why would an owner want to sell their unit? You may have to be very patient--and lucky--to find an available unit for sale at Steins.
Click here to check for Stein Eriksen condos for sale.
However, Stein's isn't the only property that offers potential investors an attractive investment opportunity. This story is continued here:
The Best Cash-Flow Condos in Deer Valley (Part II)
Deer Valley Is Not the Only Smart Money Bet in Town (Part III)
Dakota Mountain Lodge and Waldorf=Astoria Announcement
How To Estimate Your Utah Real Estate Taxes