As most people are aware, life expectancy has greatly increased in the U.S. over the past few decades – and nowhere is there a large and thriving retiree population than right here in sunny Florida.
For many retirees, moving to a warmer climate is enticing. However, purchasing a new home – with an accompanying 15- or 30-year mortgage – is not. Therefore, a large number of those who are moving to Florida will be searching for rental property. You can offer them that.
Central Florida in particular can be a great place to own rental property that is focused on the retiree market. One reason for this is because this area is considered to be a top tourist attraction, and in turn, not only can retirees enjoy the warm weather here all year round, but it can also be an incentive for grandchildren and other family members to come visit.
If you are focusing on the retiree market as tenants, there are some items that you should keep in mind. First, your properties can be highly attractive by offering things that may not be provided in many other homes.
For example, by placing grab bars in bathtubs and showers, you’ll make it easier for retirees to do everyday tasks. Likewise, by providing a washer and dryer in the property, tenants won’t have to take their clothes to a laundromat – essentially making it much more convenient for them.
If you’re considering targeting your rental properties to the retiree market – or if you already do so – the time that it takes to market and manage your units could prevent you from doing other things.
With that in mind, hiring an experienced property management team can be the answer. For more details on how you can benefit by working with a property manager in the Orlando and surrounding Central Florida area, Contact Us.