If you’re considering investing in Central Florida rental properties – or if you already have – the outlook going forward is positive. According to realtor.com’s 2018 National Housing Forecast, the Orlando Kissimmee Sanford area is ranked as number 17 on its Top 100 Largest U.S. Metros Ranked by Forecasted 2018 Sales & Price Growth report.(1)
Given this, residential property owners may be able to expect home prices to rise – possibly as much as 6% going forward this year.
What exactly is driving this growth in the Sunshine State?
One key motivator is a strong post-hurricane bounce back in October, just a month after Hurricane Irma hit the state. This is in comparison to the rest of the U.S., which by and large has continued to experience year over year declines in pending home sales.
On top of rising home values, rent prices have also continued to hold strong – particularly in the Central Florida area – given a growing job market. In addition, unlike some other counties in Florida, the middle of the state has benefited from a large – and growing – inventory of homes for sale, as well.
Yet, even given a positive outlook for home values, depending on the type and number of investment properties you own, being a landlord can be fairly time consuming – particularly if you’re having to manage multiple tenants. If you’re looking to recoup some of your time, then hiring a property manager to take over the day to day details could be the answer.
For more information on how you can benefit from the services of an experienced property management team in Orlando and the surrounding Central Florida locale, Contact Us today.