If you are considering becoming a residential rental property owner in Central Florida – or if you already own investment housing and you’re thinking about adding more to your portfolio – there are some things to consider about the area that go beyond just the price and square footage of a potential home or unit. One of these factors is getting a good understanding of where the Orlando rental market may be heading in the future.
Given the significant boost in housing prices – and sales – over the past couple of years, it makes sense that a desirable and popular locale like Orlando would follow suit. In this case, though, Central Florida is actually one of the leaders of the pack!
In the past year, annual listing prices in the Orlando metro area have increased by 20% – which makes it one of just a few metros that saw list price go up by 18% or more. There are a few criteria that are driving this surge, including Orlando’s reasonable cost of living (especially compared to higher-priced areas like California).
In addition, with the extensive list of attractions that Orlando has to offer, nearly 70 million people visit each year – and many of them decide to stay – due in large part to numerous job opportunities and the great quality of life that can be found in the “City Beautiful.”
Regardless of the number of rental properties that you own, maintaining and managing them can be somewhat time-consuming. This can make it difficult to focus on other responsibilities. With that in mind, partnering with an experienced Central Florida property management company can help.
For more details on how a professional property manager can take over the numerous tasks that are associated with owning residential real estate – and in turn, how doing so can give you back more time – contact us. We look forward to hearing from you.
The Orlando real estate market: Stats and trends for 2022. By Jeff Rohde. Roofstock. https://learn.roofstock.com/blog/orlando-real-estate-market