Short Term Rental (STR) | Page #16

Short Term Rental (STR)

Orlando is a popular area for real estate investors who want rental income because it’s one of the top U.S. tourist destinations and the theme park capital of the world, thanks to Walt Disney World, Universal Orlando, and Sea World. More and more holiday travelers are opting to rent vacation homes instead of staying in hotels because they are less expensive, and you often get just as good, if not better, amenities. 

The area is a popular draw for investors from overseas, especially the U.K. But buying a property from such a great distance can be challenging, especially if you’re attempting to do it on your own. If you make a decision solely on price, for instance, you may find yourself in big trouble. Orlando has many excellent areas for rentals and…

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British investors who want to buy homes in Florida typically favor Orlando because visitors come here from around the globe to enjoy world-class theme parks, sports, music and convention venues.  Tourist appeal, as well as recent builder constraint and job growth, even prompted Forbes magazine to rate Orlando the nation’s 3rd best city to buy housing in 2017.

Most UK investors purchase properties in areas like Kissimmee and Celebration, since these communities are so close to Disney World. But some savvy buyers have discovered that they can find better deals on homes in nearby Davenport.   

This charming community offers British buyers just what they’re looking for: fun in the sun, and rental returns at a great price in a location that’s not too far…

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One way to entice short-term rental guests to your Orlando vacation home is to design rooms around a particular theme, such as Mickey Mouse or Harry Potter. Themed vacation homes help you stand out in a competitive vacation rental market.

If you’d like to buy a home to rent out to holiday visitors but don’t have the time or inclination to design theme-based rooms, you could purchase a home that has already done the work for you.  One Kissimmee home that Team Donovan currently has listed for purchase fits that bill perfectly.

This seven bedroom, four-and-a half bath home on Palm Harbour Drive features a Rock & Roll/Hollywood theme, with pictures, giant sculptures and more located throughout the home. For starters, the home features a unique Elvis…

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Homeowners at the Grove Resort & Spa near Walt Disney World® will soon have a new amenity to entice rental guests. The resort recently broke ground on their new Surfari Water Park, which is scheduled to open early in 2018. 

“The water park is the centerpiece of the amenities at the Grove,” said Project Director Kevin Mays, “giving families the opportunity to play and escape while never leaving the resort.” When fully operational, the water park will feature a dual rider surf simulator, an interactive water structure with multiple 2-story water slides and a winding lazy river. 

The park will complement a variety of facilities already open at the resort in an area known as the Springs, which includes three swimming pools, a water play section and…

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If you plan to spend frequent holidays in Central Florida with your family, you should consider investing in a second home, rather than stay in a hotel. Vacation homes in Orlando offer many of the same amenities you’ll find in a hotel, as well as some other big advantages. Here are a few reasons why it doesn’t pay to stay in a hotel, year after year. 

Not enough space – Fitting a large family into one hotel room is no easy feat. There’s the problem of where everyone will sleep. Siblings will probably have to share a bed, which is often a recipe for disaster even among children that normally get along well together. Plus, you’ll have to take turns sharing the bathroom, which can be another huge hassle. You can always rent another hotel room, but that…

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Screening potential rental guests for your Orlando vacation home is a must in order to minimize the chances that someone will damage your property. If you list your home on one of the popular vacation rental websites like Airbnb, HomeAway, and VRBO, traveler reviews can help with the screening process. 

What to Look for in a Traveler Review 

A traveler review allows you to assess your potential guest based on other experienced owners’ information. When someone expresses interest in your Orlando home, you can view that person’s profile on the website and see their star rating. 

If you see that a potential guest has a number of 5-star reviews across the board, you can feel good about accepting their reservation without having to conduct a lengthy…

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Many people from Canada and the U.K. enjoy their Orlando vacations so much they buy a home here to rent out to holiday travelers when they’re away. Short-term rentals are a popular way for you to generate some additional income, and provide a return on your investment. 

Renting your home doesn’t come without risk. There is always the possibility that a guest may damage and/or steal your belongings. Guests may also disturb the other neighbors by making too much noise, blocking driveways, etc. 

The best insurance policy against this type of loss is to properly screen your rental guests. 

Guest Screening by Vacation Websites 

Many vacation websites, like Airbnb, HomeAway or VRBO do some screening before they allow users to access their rental…

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Have you decided to list your Orlando home in one of the vacation rental websites like HomeAway, FlipKey or VRBO.com? Renting out your vacation home is a great way to generate income when you’re not using your property. 

There are several factors that contribute to a great rental listing, starting with an attention-grabbing headline. In fact, the headline is the single most important text in your entire listing, since it appears at the top of your advertisement. Your headline also appears in the property summary that displays in the rental website’ s index and search results. 

In order to attract rental guests to your vacation home, your property headline must contain a few well-chosen words, up to 12 words in many cases. 

Compare these…

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Many people who decide to buy vacation homes in Orlando rent them out to holiday visitors when they’re not using them. But one of the drawbacks of owning a vacation rental is the constant need to find new guests. Since turnover is high, and holiday stays are short-term, it’s not unheard of to end up with an empty property, even if your home is located next to Disney. 

One of the most frustrating and costly issues vacation owners have to deal with is cancellations. Here are a few ways you can cut your rental cancellations in half. 

Know Your Market – It’s good practice to check out your competition in the rental market from time to time. Find out what they charge during low season and high season, and what type of amenities they offer their guests. 

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Buying a home in Orlando to use as a vacation rental is a smart idea, especially if you eventually plan to retire here or use the property as a second home.  Vacation rentals can generate income for you, especially if you buy a property in a desirable area, such as near Disney World. 

However, if you’ve never rented out a real estate property before, you could wind up making some costly mistakes. Here are a few of the more common pitfalls to avoid so your vacation home can be a profitable investment for you. 

1. Setting Unrealistic Rental Rates – Since the Orlando area is competitive when it comes to vacation rentals, it’s important to know your numbers. That means researching rates of competing rentals in the area and determining the occupancy…

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