The vacation rental property market is booming. Online vacation rental platforms like Airbnb and VRBO let homeowners rent their properties to travel guests and create a new source of income in the process.
The Orlando vacation rentals near Disney World are especially attractive to the growing number of tourists that make their way to Florida each year. That’s why home investors are looking to Orlando and the surrounding areas to secure affordable luxury homes that offer a higher return on their investment.
New Opportunities in the Thriving Vacation Rental Market
Vacation rentals are a sure-fire way for homeowners to maximize their home’s value and reduce its lifetime cost. For renters, today’s holiday homes offer a more affordable and comfortable option when compared to hotels.
The vacation rental market presents new opportunities for home investors. It fulfills the market’s need for affordable rental options that give travelers a more personalized vacation experience. Industry analysts predict that the global vacation rental market will exceed $193 billion by 2021.
Why Now is the Best Time to Invest In Orlando Vacation Rentals
Airbnb, VRBO, and other vacation rental platforms are examples of the new “sharing economy.” These platforms allow individuals to create their own financial opportunities using assets they already own.
The sharing economy has grown due to new technologies that make online distribution possible. This has led to an increase in vacation rental home investments, which further fuels this trend and increases the potential value of tomorrow’s new homes.
Younger investors are more open to participating in this new economy as business owners and consumers. The expanded distribution made possible by sites like Airbnb lets homeowners reach a global audience, increasing the number of visitors they attract.
New home designs include the features and amenities that today’s investors and travel guests want. By accommodating the growing short-term rental market, Orlando’s vacation rentals offer luxury living at affordable prices.
Investing in the Vacation Rental Market While It’s Still Growing
The increase in the number of vacation rental homes is outpacing hotel accommodations. The more often travelers stay at vacation rental homes, the less they prefer hotels. But only a small percentage of people have used sites like Airbnb and VRBO. Many travelers don’t realize that these and other peer-to-peer options are available to them./p>
This is good news for home buyers looking to own a vacation rental home and create long-term investments that support their financial goals. Vacation rental homeowners are positioned to reap the rewards that come from taking advantage of new opportunities in the real estate market.
Choosing among the Orlando vacation rentals near Disney World and the area’s other popular attractions can give you a higher return on your investment. Finding a home that has the features and amenities that today’s holiday renters want is the key to your success in the vacation rental market.
Team Donovan helps home buyers from all over the world buy and sell luxury vacation rental homes in Orlando and the Central Florida area. For more information, or to schedule a free consultation, contact us at (407) 705-2616.
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