Are all Disney Area Vacation Homes Sold Furnished?
Yes, most of the vacation homes in the Disney Area are furnished. so they’re move in and rental ready! Some homes might even have a few bookings scheduled which will mean immediate income for your property.
Homes will not come furnished if you buy a new construction vacation home from the builder though. However, it will have all the appliances, ceiling fixtures, and window blinds. On the positive side, this gives you the opportunity to design your dream vacation home exactly how you want it. There are even companies we partner with who sell furniture packages so you can put your own personal touch on the home without all the work of designing it yourself.
What Are the Expenses Involved with the Purchase of an Orlando Vacation Home?
While this question is quite common, there is not a simple answer to it. Every transaction is different and there are many variables to consider.
However, the typical closing fees involve: title insurance, taxes, HOA fees, property insurance, STR insurance, mortgage fees, survey and appraisal fees, and even transaction fees sometimes. We are happy to discuss it in more detail with you and provide an estimated expense spreadsheet.
Do I Really Need a Pool?
YES! Unless you are buying a condo you absolutely should have a pool. If you don’t, you run the risk of your property not renting well as a private pool is very sought out by vacationers coming to Orlando and they have plenty of options to choose from. The good news is that most Disney area vacation rental homes are sold with pools if they are in short-term rental communities. You can even find a pool if you want to purchase a townhome as many of the newer communities have designs with private pools as a standard feature. If you want a single-family home, make sure to consider a spa as well. It’s a hit with the many golfers that visit the area.
If I Buy a Home That is Already Under a Management and Rental Program, Do I Get to Keep the Bookings After I Close on the Purchase?
This would be a YES—if you agree to stay with the same management company. The management company has the rental agreements, payments or deposits, and other arrangement details for that guest. The contract for that rental is between the management company and the guest. If you don’t want to continue with that particular rental company or program, make sure to inform the company as soon as possible so they can relocate their guests to another home. Many of these companies will not transfer guests to another management company in the same home because they can’t ensure their standards will be met for a guest and could reflect negatively on the company.
How Many Weeks Per Year Are Homes Occupied by Renters?
If your home is located in one of the top resort communities, you did a great job with the furnishing and decor, and it’s under a great marketing program, you could potentially rent 35 weeks per year. For most average nice homes though, you will probably rent 25 weeks.
Can Any Property in Orlando Qualified to Be Vacation Rentals?
Absolutely not. You can’t just turn any home into a short-term rental property or vacation rental. To be able to rent your home as vacation rental it must be in a community that is zoned for short-term rentals by the county where it is located.
What type of Property Rents the Best?
For us, the newest resort communities that are minutes from Walt Disney World absolutely rent the best as they are able to respond the requests of the vacation rental market. For us, the best vacation rental properties have these four key points:
1) A new home with an open floor plan.
2) Located in a gated resort community.
3) An abundance of fantastic amenities.
4) Close to Walt Disney World.
On top of that, if you can add a furniture package that feels luxurious and a nice size pool and spa, you can really have a home that will attract renters consistently.
What is an HOA?
HOA stands for Home Owners Association which is a governing council made up of homeowners in the community. The HOA has the responsibility to set the rules and bylaws for the community to adhere to. An HOA fee is collected to help cover costs in the community that all home owners need or have access to. Payment of an HOA fee is mandatory for any and all properties you own in a community that has one. However, the fee is the same for each home in the community. The HOA creates a budget based on the fees they collect to cover costs for resort amenities, security, common area landscaping needs, guard gates, and any and all other costs involved with running the community.
HOAs can be very helpful to keep the prestige and profile of a community. It prevents your neighbor from painting their home with unusual colors, mishandling trash, or guests parking airboats on the street, as example.
HOA fees are a good thing, especially in resort communities. The more the community can collectively offer to both vacationing guests and homeowners, the more appealing the overall community is for everyone. This means, as a homeowner and investor, you are able to offer more amenities to potential vacation guests who will rent your home.
As a Foreign Buyer, Can I Finance the Purchase of a Vacation Home?
Yes, whether you are a foreign national or a domestic out of state investor, you can finance the purchase of your vacation home or investment property. However, both types of investors should be aware of some common requirements and restrictions from many lenders.
As a foreign buyer, the process is similar to what US resident would do. We work with several lenders who finance foreign national real estate purchases. We also recommend that you speak with an accountant about the tax implications before you buy as a foreign national and we can guide to a specialist for this. Many foreign national buyers choose to take the equity out of their home and pay cash for a property here because there are significantly less settlement expenses involved that way.
How Exactly Will a Property Management Company Help Me?
A full-service property management company for your vacation rental will help you with everything you need to care for and run your property. The typical services a property management company will do to care for your home include, cleaning, and lawn service, pool care, utility bills payments, and repairs as needed. They also will manage the needs of the business aspect of your home such as marketing to generate bookings, accounting with detailed income and expense reports, guest services communication, and inspections before and after a guest says in your home. The job of the management company is to help you setup the property so it is “rent-ready”
Do you have a question we didn’t answer here? Give us a call 407.922.4620 or email me at email@example.com