If you own a vacation rental home and are looking for the best home management company in Kissimmee, Davenport, or Orlando, Florida, there seem to be many choices. After all, Florida is a second home to many people from all over the country who wish to escape colder climates. People come from Europe, the UK, and South America to vacation, live or buy a second home in Orlando, Davenport, or Kissimmee, Florida. Today, we will discuss what it would look like to rent out your vacation home versus a long-term rental home in Kissimmee, Florida, and whom you should trust to manage and rent it. Check online for reviews https://www.trustpilot.com/review/renterschoicehomes.com or become active in your HOA and if you’re not sure what an HOA is read more about homeowners associations here https://propertymanagementkissimmee.com/what-you-need-to-know-about-your-homeowner-association/ your fellow members may be using a vacation home rental company you could interview to see if they are the right fit for you.
An Investment In Your Family’s Vacations
You’ve made an excellent investment in your family’s future vacations. Who doesn’t love coming to Orlando with all the popular attractions? There’s nothing better than relaxing in your pool after a hard day visiting theme parks. The kids love coming back year after year, and there’s always some new attraction to go and see. There’s nothing nicer than relaxing in your second home away from your everyday life. You’ve found the perfect escape place that all the family enjoys.
Suppose you’ve already bought a home and rent it as a vacation home rental in Kissimmee, Davenport, or Orlando, Florida, as a financial investment. In that case, you might be in for some unexpected expenses. There are many more ongoing costs that most owners haven’t considered. The ongoing running costs of the rental of your home can be expensive. It’s like owning a boat or a luxury car. It’s always going to cost you money. If you have plenty of surplus cash, spend it on your family’s vacations. You deserve the best in life.
There is a lot of vacation home rental, and management companies will act on your behalf and manage the property. They’ll find you renters, and most do an excellent job. I was in this industry from 1991 to 2004, so I know quite a lot about it. Companies that manage vacation rental homes come under Florida law chapter 509 and therefore don’t have to be licensed as real estate brokers. Your home is considered a hotel and must comply with hotel/motel rules and regulations. Most of these short-term rental companies are honest and forthright, but like every industry, some companies will let you down as they don’t have the experience to maintain your home and care for it in a way that meets your expectations. If your management company seems evasive and your home isn’t being kept to the correct standards, this will be reflected in your rental returns, repairs, and replacements.
Occupancy In Your Vacation Rental Home
During school holidays, all good vacation rental homes in the Orlando area will have good occupancy unless a hurricane, crimes against tourists, or some other disaster is highlighted in the national and international news for several days and will have guests canceling their reservations. In the off-peak time, you’ll have to lower your rental rates to get guests because plenty of homes compete for guests in Kissimmee or Davenport vacation rental homes. You might not be able to control the quality of your guests, and you are not guaranteed long and sustained sources of income outside of the peak tourist season.
The Disadvantages of owning a vacation rental home
Owning a vacation home rental has some financial disadvantages. Regardless of whether anyone stays in your home, you must keep your utilities and the house cool. The pool needs to be serviced weekly, and the grass needs to be cut. You could face monthly bills of around $2,000 as something will always need fixing or replacing. That does not account for property taxes, HOA fees, or mortgage payments! All of these running costs must be paid regardless of rental income.
If you own a vacation rental home in Kissimmee, Florida, you’ll know exactly what I’m talking about. Your dream home may have turned into an expensive money pit. You might not mind this if the kids want to come to Orlando. As they grow up, the appeal of the theme parks and all the other area attractions start to wane, and you have to make a decision. Is it time to cash in your investment and sell your Kissimmee vacation home, or is it time to turn it into a real financial investment? Either way, it’s time to contact McCormack Realty & Renters Choice Homes. We can discuss what options are available, perform a complete market analysis and give you enough information so that you can make an informed decision. Contact us at 407 933 2367 or in the UK at 0161-300-9595 or email broker@renterschoicehomes.com
Vacation home rental in Kissimmee Florida
The advantages of long-term rentals
Our typical homeowner started with a vacation rental, and as time went by, they turned their vacation rental into a long-term rental. Here are the top eight reasons why
- They know how much rental income they receive monthly
- They don’t pay any utility bills
- No maintenance callouts to replace a light bulb
- They don’t have to update the furnishings or the linens
- The freedom to vacation anywhere in the world, not just in Orlando
- Less financial burden
- Their investment is appreciating in value
- When it comes time to sell, we help them do that too!
If you own a vacation home rental and want to maximize the income of your investment property, we suggest converting it to a long-term rental. McCormack Realty & Renters Choice Homes is a long-term property management and rental company with experience you can count on. While we do not offer vacation rental services, we have over 30 years of experience in the Florida market in cities such as Kissimmee, Davenport, and Orlando. Call us at 407 933 2367 in the UK at 0161-300-9595 or email broker@renterschoicehomes.com. Our advice is free, and we can provide you with a rental or sale valuation.
McCormack Realty & Renters Choice Homes have over 30 years of experience selling and renting homes in Kissimmee, Orlando, and Davenport. If you’re looking at your options and wondering what to do with your vacation rental home, you’ve found the right place. Both investor owners and tenants enjoy excellent services from knowledgeable staff with years of hands-on experience and professional licensing as a Real estate brokerage.
Long Term rental home in Kissimmee, Florida
[…] Step one identify which type of property management you need. Vacation rentals AKA short-term rentals for vacationers, come under different rules and regulations than long-term residential rentals to local families. Vacation rentals, AibNB’s Holiday lets, AKA vacation rentals, are also subject to sales and resort taxes on each rental. It’s only rentals of six months and one week long that are not subject to these taxes. If you’ve bought this kind of rental property. Check out this article. […]