What You Should Know about Buying Short Term Rentals

For years now, Europeans and Canadians have invested in Orlando vacation homes near Disney for use as a short-term rental to holiday visitors. Vacation homes have become a popular option for tourists who spend longer than a week in Central Florida, as well as large families on vacation, since the rental cost is cheaper than a hotel stay. Many vacation homes are located in resort communities too, so they offer hotel-like amenities such as luxury pools, spas and fitness facilities.

If you’re thinking about purchasing a vacation home in Orlando to use as a short-term rental, there are a few key points to keep in mind. 

#1 – Check to see if the home is located in a gated community. These properties are usually more desirable to tourists because they offer a measure of privacy. There are a number of popular gated communities located near Disney World and the other theme parks, including Lake Buena Vista Resort & Spa and Windsor Hills. 

#2 – Check to see if the community belongs to a Homeowners Association (HOA). Homeowners are required to pay dues to the HOA, which the organization typically uses to pay for the upkeep of the community.  It’s important to find out how much dues you will be required to pay and exactly what that money covers. 

#3 – Choose a desirable location – Ideally, you should look for a vacation home that is close to the attractions, since theme parks like Disney World and Universal Orlando are the main draw for tourists to the area. You should also look at the home’s proximity to other conveniences like restaurants and supermarkets. 

#4 – Check whether the home has its own private pool – Even though many vacation home communities have a central pool that everyone in the development can use, many tourists prefer a home with its own private pool. Ask your real estate agent about the location of the pool when evaluating homes to buy. South-facing pools get sun all day long during the summer months, and more sun in the winter than other types of pools. 

#5 – Consider what amenities to invest in for the home – Successful vacation homes offer their guests a “wow” factor when they walk in the door. Consider buying a property that has attractive furniture and appealing landscaping, or be prepared to invest some money to attract holiday visitors. Spending a few extra dollars on your property’s aesthetics could pay off in a big way by generating steady rental income from satisfied guests.   

For expert help in locating a vacation home in Orlando to use as a short-term rental, contact Team Donovan today at 407-705-2616.  

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