Short term rentals in Orlando

15 Replies

I am still interested in doing short-term rentals in Orlando especially as there will be a new theme park in 2023. If you are doing short term rentals in the area, how is it thus far for you? Any advice on how to approach this strategy even with COVID

@Keleisha Carter , I am buying my first airbnb currently in the Fort Lauderdale area to work out any kinks before I move out of market.  Orlando will be my next one.  The new theme park sounds amazing!

When you look at all the communities, most are very cookie cutter and similar layouts with a good amount of inventory.  I am going to keep an eye on prices going forward and buy during any dip after a few months of running mine successfully here.  Do not feel a rush to get in right now as tourism is down.  Tracking the metrics of the park and any good news would be the way to go!

@Keleisha Carter what are the goals with your first short term rental?  Are their metrics you are striving to reach?  That will really help you determine when to enter.

Myself for example, I had a great career and am moving over to transition fully. My first STR is more about establishing my process and ensuring that I enjoy it, and then expanding. This allows me to be closer to home for lower margins, but is ideal for my situation. This will vary from person to person.

Unfortunately, the new park was put on hold. Ill the staff designing it was let go. Not going to happen by 2023. But Orlando is still a great place to run short term rental in. I have 5 of them and they are still doing well. 

@Brandon S. the same information you got from Luke and John in the other thread are good information with the LLC. I would not worry yourself with that yet. Please note that I am not a lawyer, but with a policy for short term rental you should be similarly protected. Depending on your net worth, speak with a lawyer on the topic if it concerns you that much.

@Keleisha Carter you will find that Orange county is extremely restrictive when I researched the areas.  Osceola County is much easier and a lot of homes there fit communities that were built for this type of investment.  I would recommend sticking to that county.

@Ezra Benjamin Harris and @Keleisha Carter for what it's worth, here are the rules for Orange County. Needless to say, this wont work for most investors. Stick to Osceola and Polk Counties. You may see some on Airbnb, but they are likely not legal and licensed vacation rentals. It doesn't make sense to take on that risk as an investor.

ORANGE COUNTY STR RULES

"Anyone who would like to use a portion of their home for a short-term rental must have a short-term rental property permit. To be eligible to rent out a portion of your home as a short-term rental you must meet these requirements.

  • Your property must be zoned as residential.
  • You can only rent out less than half of your home.
  • The house must continue to be your primary residence.
  • During the guest’s visit, you must be present.
  • Only one booking at a time is allowed.

PS - there are actually two in Orange which ARE legal, but not booking well at the moment due to current conditions, so I'm not recommending them.

here you go. Our occupancies are lower than usual post-Covid but starting to climb again looking ahead to the holidays. Note: these are VillaKey occupancies which I have data for, not the market as a whole.