There's continued good news for those who want to invest in the Orlando real estate market for the purposes of owning rental property. Real estate experts Marcus and Millichap predict that rents will rise in Orlando this year.
It's expected that the vacancy rates among Orlando rental properties will drop down to 7.1% this year, which is down from 7.9% earlier this year.
This is great news for those who own investment property in Orlando and for those who plan to own Orlando investment property in the near future.
The inventory of condos for sale is still quite high, making it easy to find an Orlando property that's perfect for renting. Whether you plan to rent your property weekly for vacationers, or by the month for long-term renters, you can expect to see the rent you can charge to go up in the next few months.
If you needed another reason to consider becoming a landlord; this might just be the incentive that sends you running to a realtor who can help you find the perfect investment property in Orlando.
Whether you choose to rent your home as a long-term rental or a vacation property, Orlando is the perfect location. The potential for renting your property out long term in Orlando is particularly good because so many new companies are moving into the Orlando area. This means that the population is going to continue to grow over the coming years. Many of these new companies will be moving employees to the area who will need to buy or rent homes of their own. Many of these people will choose to rent for some period of time before they buy their own homes.
If you choose to rent your property as a vacation rental, you'll be able to take advantage of the fact that your property is located in one of the country's most popular and desirable vacation destinations. Each year, thousands of families from all over the US and abroad flock to Disney World, SeaWorld and our many other attractions. These resorts are most popular with families with children, who also happen to be the demographic most likely to look for a condo or apartment style rental when they travel.
The low purchase prices combined with rising rents mean that investors will see return on their investment even more quickly than anticipated when they choose to purchase a property suitable for renting in the Orlando area. In just a few short years, you'll be well on your way to having the mortgage paid off and begin seeing a revenue stream from your investment.
So, talk to us today. We can show you all the great properties available for purchase. Regardless of your budget, there's an Orlando investment property just waiting for you. And, with rental rates rising, you're sure to want to make that investment right away so that you can start enjoying the return on it right away, too.