Orlando may be known as the theme park capital of the world, but Kissimmee takes the crown for vacation homes since it has more vacation home rental units that anywhere else in the world. Many tourists choose to rent vacation homes in Kissimmee because of its easy access to the major theme parks like Disney World and Universal Orlando, as well as a number of amusement parks, dinner shows, upscale brand outlet malls, and championship-caliber golf courses.
If you’re thinking of buying a vacation home to generate income as a short-term rental property, the Sonoma Resort in Kissimmee is an excellent choice. This gated vacation home community is conveniently located next to “The Loop,” a premier outdoor mall that features shopping, dining and a movie theater, as well as Shingle Creek Regional Park. Sonoma offers residents and rental guests a variety of resort-style amenities including a luxury clubhouse, swimming pool with poolside cabanas, fitness center, and high speed internet.
Sonoma home buyers have their choice of exquisite 4 to 14 bedroom pool homes in the community, ranging in size from 1,939 sq. ft. to 6,257 sq. ft. Homes with 6 or more bedrooms are especially popular as vacation rental units since they are more affordable and provide more space for large families to use on holiday, as compared to staying in a hotel. That means your income potential is significant since these homes are typically in high demand.
Income Potential for a Sonoma Vacation Home
As an example, the owner of a 7 bedroom home in Sonoma generated rental income of $41,256.90 from Nov. 1, 2017 – Nov. 1, 2018, based on an average booking rate of $332.72 and a 55 percent occupancy rate. There is no mortgage on the property, since the buyer paid cash. Maintenance, utility bills and other expenses such as HOA fees and taxes for the year totaled $14,269.21. The owner spent 77 nights at the home during the year, proving that you can stay in your vacation home for a significant amount of time, and still generate a decent income the rest of the year.
Many vacation home owners live abroad in countries like the United Kingdom, Norway or the Netherlands. When that is the case, owners can hire a property management company to handle maintenance issues and rental bookings. This gives you peace of mind, knowing your property will be taken care of when you’re not using it.
Team Donovan specializes in the sale of vacation homes near Disney, like the properties found at Sonoma. We can help you find the ideal property to suit your style and budget. Contact us at 407-705-2616 for more information about the income potential for a second home in Orlando.