Team Donovan Blog - Real Estate Information

How to Cut Vacation Rental Cancellations in Half

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. 

Orlando Real Estate Market News - April 2017

***Published on 1st April 2017***

March 'murmurings' From The Resort Area...

The total resort area inventory offered for sale stood at 1859 homes at the end of March which is an 8.1% decrease from the corresponding month last year and a 5.6% decrease from last months 1964 recorded total. By listing type the March total recorded 1806 normal owner listings which was a 4.9% decrease from February and 5.9% lower than March 2016. Bank owned listings at 34 were down from 63 last year with the short sale total of 19 down 16 from the 35 recorded total of March 2016. The sales total of 281 closings in March was identical to the March 2016 total but up by 9 from the February 272 recorded sales. Homes that closed took an average 133 days to sell which compares…

5 Mistakes Vacation Rental Owners Make and How to Avoid Them

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…

How to Prepare Your Orlando Vacation Rental for Guests

Central Florida has a lot to offer for those searching for an area to spend their retirement years. Fabulous weather, numerous lakes for fishing, boating and water skiing, a multitude of restaurants boasting nearly every international cuisine, championship level golf courses, and world-class entertainment, highlighted by the two theme park giants – Walt Disney World and UniversalOrlando.

People who decide they want to retire in the Orlando area often purchase a home several years before they plan to occupy it. Rather than leave the property empty, it makes good sense to generate income from the home by renting it out to holiday travelers. 

Before you let any guests occupy your home, you’ll need to decorate and furnish the property (unless you buy a…

How to Know Your Property Manager is doing a Good Job

Have you decided to buy a vacation home in Orlando and rent it out to holiday visitors when you’re not using it? If you don’t live in Central Florida, you will need someone to look after your interests, so you can ensure that your property is generating positive cash flow by keeping it occupied and maintained properly. 

Your local realtor should be able to recommend a rental and property manager for you when purchasing a single family home.  However, if you purchase a unit in a condominium-style resort, these services may be included, so you won’t have to hire a separate management company. 

Regardless of whether you hire a team or one is provided for you, here are some of the responsibilities that a rental and property manager should handle for…

Orlando Community Reports - March 2017

The March Team Donovan community reports have now been updated and are available from the following link:

                                                                                Community Reports

How to be a Successful Long Distance Landlord

The Orlando area has long been a popular destination for British and Canadian tourists because of our warm weather, recreational activities, and of course, world-class theme parks like Disney World. Many of these visitors purchase a second home in Orlando for holiday visits and for use when they retire.

If you want to get the most out of your investment until you’re ready to settle in the States, you might consider renting the property to other holiday visitors when you’re not using it. Managing a property from another country can be challenging though. So here are a few tips on how to be successful long distance landlord. 

Hire Professional Help 

Investing in a property management team is your best bet when it comes to managing property from…

Orlando Real Estate Market News - March 2017

***Published on 1st March 2017***

February 'facts' From The Resort Area...

The number of sold homes during February totaled 272 which was 11.2% up on the corresponding months total last year when 245 changed hands. Homes that sold achieved an average 97.3% after spending 134 days on the market which compares to an average 129 days and 96.6% achieved a year ago. Overall inventory year on year was down 4.5% at 1,964 listings with normal owner sales accounting for 96.4% of the current inventory total at 1,894. Bank owned listings represented 2.1% at 42 whilst short sales of 28 listings comprised the remaining 1.5%. The resort area median price is up 8.5% from a year ago at $184,363 whilst the number of homes under contract awaiting closure was 14.6%…

Orlando Ranks #2 in U.S. for Rental Real Estate Investors

Investors interested in vacation rental properties should find plenty of opportunities in Orlando this year. HomeUnion ranked The City Beautiful #2 in the nation for single-family rental investment opportunities in 2017, after Atlanta. 

The online real estate investment management firm ranked 31 metro areas based on several factors including yields, rental demand, investment home prices and capital markets conditions.

HomeUnion’s report noted the Orlando market has the second-highest projected employment growth of all Florida metro areas, thanks to demand for technology and tourism-related jobs. 

Orlando’s robust economy is creating demand for housing, which has placed upward pressure on median sales prices for investment homes and…

How to Buy Your Dream Golf Course Vacation Home

Have you dreamed of owning a vacation home right on a golf course? Orlando is the perfect location since it has dozens of golf communities to choose from, idyllic weather and the added bonus of being the theme park capital of the world! 

Owning a golf course vacation home can be a smart investment whether you’re a social golfer or PGA pro. Country club communities offer all of the amenities of a high end golf club right outside your back door. Plus, many golf course homes are located near Disney World, making them attractive short-term rental properties too. 

Which Golf Course Community is Right for Me? 

Choosing the right golf course community to purchase a vacation home can be a challenge, especially if you don’t live in the area. You may…