All Forum Posts by: Alice Horn

@Greggory Kowalkowski as you can imagine, the industry has evolved with a number of tools that provide market data on occupancy, revenue and all kinds of metrics for vacation rentals. AirDNA has been around a long time and can provide an idea on income for a specific unit by scraping websites. We use Key Data Dashboard, a much more precise tool which actually pulls the data from participating property management systems. AirDNA is probably sufficient for the initial exploration phase. We manage and market 80 units in the Orlando market, which is one of the most competitive markets in the US with over 65,000 vacation rentals. It's also (normally) a very high demand area, so with the correct decor, marketing and pricing strategy, homeowners can still expect to yield far more than they would with a long term rental. So my advice would be do your homework, crunch the numbers but don't write off vacation rental investments :)

@Laura Jensen, I agree with the comments above in general. Having said that, we are property managers with 75 homes in the area, and we have a 7 bed in Emerald Island which is one of our top booking properties. A lot will depend on the decor and other factors. This home is currently booked at over 80% occupancy through the end of October, with 1 week average stays. Happy to give you some numbers based on this home's performance history, along with your projected expenses. We can also run some comparisons with other communities, to give you an idea.  Happy to help! 

Contact @Bernadeau C.and he'll let you know about the schedule!

@Andrea Aguilar the only two which are vacation rental legal in Orlando (Orange County) are Vista Cay and the Enclave. The Enclave has smaller units (1-2 bedrooms) that do typically rent well, though right now MOST people are looking for pool homes and townhouses which have more privacy. We have several under management in both communities. Also, here are the regs for vacation rentals in Orange County below. Again, these rules don't apply to Vista Cay and the Enclave which are legally zoned for vacation rentals. Hope this helps!

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 stay, you must be present.

Only one booking at a time is allowed.

Along with having a short-term rental property permit you must also collect sales tax. You will need to register with Florida’s Department of Revenue. Because short-term rentals are considered transient rental accommodations.

@Andrea Aguilar we have a property management company with 75+ homes in Kissimmee, Davenport and Orange County. We use software that makes it easy to provide analytics by home type and community. Happy to provide feedback and reports on any homes you're considering!  Have fun with the search.

Think about the communities you would like to consider. We strongly recommend stable vacation rental communities closer in to Disney, i.e. Windsor Hills, Windsor Palms or Emerald Island. The "shared home" vacation rental model is less typical here, but you may find a home with an appropriate floor plan to make it work. Pool homes rent much better than homes that don't have a pool!

@Jaclyn Lignos - here is some more food for thought. Vacation rentals certainly are increasing in demand since Covid. Families who just need to GET AWAY feel comfortable with the safety, privacy, and (hopefully) cleanliness they can find in a rental.  For the first time ever, vacation rentals overall are getting more bookings than hotels. Also,

1. Pool homes are doing exceptionally well in the Orlando market. For many families who may not have a pool at home (or even those that do) this is an added attraction and way to keep kids busy, especially since the parks are closed.
2. We manage 75+ homes in Orlando, Kissimmee and Davenport, and we have seen both townhomes as well as SF homes perform well as long as they do have a pool. Some of our nicely decorated townhomes do really well, especially since now families are typically not traveling with larger groups.
3. Unfortunately sometimes vacation rentals have been used recently to throw parties now that bars and clubs are closed. Buying a home in the right gated community with good security (Windsor Hills is a great example) is well worth while, as well as having a strong rental agreement with guests which spells out the penalties for this type of use. It will also give your families a stronger sense of security, and they will be able to enjoy a clubhouse, great amenities, etc. All of the above will translate to higher rates.
4. When you're decorating the home, recognize it now needs to be disinfected and sanitized between each use, For example, this means lightweight white comforters which can be washed between each guest and will look crisp and clean in photos. 

Happy to help!  We use software which can quickly provide a real time market analysis and projections so you can analyze different home sizes, types, and communities.

Alice

If you decide on Florida, here is a report on the top 10!  https://sports.yahoo.com/10-best-places-florida-buy-184833620.html?src=rss

And if you decide on Kissimmee or Davenport, both on the list and near Disney, we are happy to help with any research or advice.  Good luck!

Hi @Frank DiGiorgio, I second the motion on Windsor Hills. We are working with a few homeowners there now. If you would like to start researching your options, happy to provide projections for various home types and communities. As property managers, we have access to software that will give you straightforward results based on similar homes in the community. We can also share actual history on similar homes in our program. As far as timing, I defer to @Keith Courtney on the best time to buy!