As an investment property owner in the Orlando and / or the surrounding area, you’re likely aware that the overall trend here in Central Florida is upward moving real estate prices. In fact, according to the Orlando Business Journal, in May of this year, the median home price was just under $270K – which is up more than 12% from May 2017.
Likewise, the number of townhomes and condominiums being sold are also seeing an upward price trend, which in large part has driven the median price of these property types up by more than 20% from just one year ago – and this isn’t just a one-time fluke.
In fact, based on statistics compiled from Florida Realtors, May 2018 marked the 77th consecutive month that the median sales price for single family homes and condominiums rose year over year. But, while this is good news for property owners, not everyone in Orlando is in the market to purchase a home.
This is where Central Florida investment property owners can make a difference. By providing rental housing, investment property owners can also benefit from the rising price trend, while at the same time opening up a viable avenue for shorter-term Orlando / Central Florida dwellers who don’t have the financial resources and / or the desire to purchase.
Yet, ensuring that your rental property business is running smoothly can be a time consuming task. So, if you’re spending more time than you want to on managing tenants and maintaining your rental properties, there is a viable solution. Consider working with an experienced property manager.
At Central Florida Property Management, we offer full service property management services in Orlando, as well as throughout the Central Florida locale. Give us a call at (407) 429-4834 to learn more about how you can experience the difference.
Home, condo prices on the rise in Central Florida. Orlando Business Journal.