Lake of the Ozarks condo rentals: How much rent can I expect to make?

Nightly rentals have become a popular option for many visitors to the Lake of the Ozarks.   Many investors are looking to cash in on the high appreciation and forecasted growth from the "Baby Boomer" retirement demographic, but are unsure of rental possibilities.  

Rather than renting long term to a single tenant, many choose to take advantage of nightly rentals, which is really a catch all phrase for rental terms that range from one night to up to several weeks.    Many vacation landlords put a three night minimum or impose a cleaning fee on top of rent for terms shorter than their regular minimum.  The upside of nightly rentals is making a good amount of money for a lot less stress on the property than a full time tenant might, and the fact you can enjoy and use the property yourself if you are so inclined.  The downside is the additional management services that must be provided, including cleaning, linen service, and booking.  There are many services here at the Lake that offer this management, and many landlords are choosing to do this on their own by using the internet for booking, and finding a local cleaning service to turn the unit around for the next renter.  

When I’m asked what amount of rent can be charged, and how many "nights" can be expected, the only real answer I can give is "it depends."  It depends on location, availability, view, decor, and many other variables.  I have personally managed my own rental condos, and I usually target 80 "nights" as a realistic number for a well priced rental condo, although I’ve heard of some units doing over a hundred in season.   The rental season used to be considered from Memorial Day to Labor Day, but many landlords get an additional 20 to 40 days rent starting in the spring and extending into the fall.   

HomeAway, Inc. surveys report the average weekly rate collected by vacation property owners is $1,656 and that rent is collected 20 or more weeks each year. That’s enough to generate more than $750 in positive monthly cash flow on a mortgage that costs $2,000 a month.  

For more information on taxation of rentals, and to review the property listing, refer to the links below.  If you have any questions about rental condos at the Lake of the Ozarks, please feel free to contact the Lake Select Group at 573-302-2320 or by e-mail.   

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