Orlando real estate sales and investment property, an outline of the merits

In the first instance at the top of my holiday/vacation home “benefit list” is the actual home itself, for besides enjoying the best kind of land zoning meaning it legally has total flexibility of use, its holiday home suitability provides community / resort facilities like a private/ communal swimming pool or possibly a clubhouse, for the majority of long term rental homes will rely on more basic needs to attract tenants, such as price and location.Land zoning allowing short- term vacation use means that the property built on the land can always be treated like a hotel and as such it will have wider appeal when the time comes for its eventual sale. If the owner wishes to let the home by the hour, day, week, or indeed any other possible duration they can, plus if they wish someone to live in it full time there is a legal ordinance and approval do so!Most homes suited for long- term lettings have restrictions, which prevent lettings of less than 30 days to the more common 6 months occurring, and this obviously can present an owner with a real problem, especially if they ever want to use their property personally.If required the only possible way for this to occur would be if the lease were about to expire and the timing of this would have to be impeccable, plus it could be difficult to obtain continuous suitable long term tenants and therefore this could severely restrict an owners potential rental income!However with a vacation rental home, an owner can use their home relatively easily even at short notice and then let the home out for any number of weeks in the year. I know of many people who regularly fill up the remainder of their year with holiday rentals, for there are always people visiting Florida year round.Next is the amount of potential financial benefit.I think it is fair to say that most people will agree that a vacation rental home will always attract a higher rent than the equivalent long- term rental property. With the number of lettings that are taking place plus the sheer demand from holidaymakers a high rental income is normally possible albeit it will also attract higher outgoing expenses.However subject to the way in which any owner tackles their vacation rental bookings and there is indeed more than one way of doing so, (see the DIY rental article for a good example) I believe that the prospect of obtaining a high rental return from a holiday letting far outweighs that of a long term letting, there is simply just no contestI do however need to emphasise one important qualification, for without any owner effort the financial return from a holiday home may be similar to that of a long- term letting home, it all depends on the way that the bookings are tackled!Another small problem that applies to holiday lettings is that together with the increased number of lettings comes a greater risk of tenancy problems occurring, that is unless the vacation home is suitably located!Vacation homes within the Disney catchments are somewhat unique, for unlike holiday home near a beach they attract a different clientele.Orlando holiday homes close to Disney enjoy a reduced risk as a result of most tenants being families who will spend their valuable vacation time away from the home.It is likely that they will stay out of the home until very late in the day either on a trip to the beach or in the theme parks.A primary tenant on the other hand will live in the home and therefore this type of tenant undoubtedly provides a greater risk for possible property damage to occur. Last although not least it is worth highlighting the fact that a long- term rental home is normally let without any furniture thereby it has a lower acquisition cost than a holiday home. However we currently can furnish a 3/4-bedroom villa complete with good quality furnishings from a wholesale interior design firm for around £8,000 and therefore the replacement cost is not exorbitant. Also the wear and tear on furniture and appliances in most holiday homes near Disney is extremely low, which I personally witness, although an owner can of course be very unlucky.It is interesting that many ovens fitted in holiday home kitchens in and around the Disney region have never ever been used!After all who would want to cook when on holiday, especially when there is a vast selection of restaurants to choose from on your doorstep, all offering excellent value for money tasty food?Graham Pyle can be contacted by calling 08456 444 747 from the UK or by visiting www.floridacountryside.com or http://www.orlando-investment-property.co.uk A free DVD “The definitive guide to buying in Florida” is available upon request

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