Renting an Orlando Vacation Home Rental in the Foreclosure Crisis – 10 Tips
Many of the vacation homes in the Orlando, Kissimmee and Davenport areas are now in some stage of foreclosure.
Orlando vacation home foreclosure
Vacation homes sold quickly during the Florida real estate boom when demand in many cases was overwhelming.
Renting an Orlando Vacation Home - In Foreclosure?
Now demand appears to be significantly less than supply. Many homes are now bank owned or in some stage of foreclosure, so before renting a home rental, you may want to consider:
- Try and book Orlando holiday rentals as close to your travel date as possible.
- Ask if the home you are reserving is behind on its mortgage
- Ask how many homes in the subdivision have been abandoned
- Ask what percentage of the development you are staying in contains vacant lots
- Ask if the community facilities have been completed
- Ask what percentage of homes in the community have overgrown lawns
- Pay by credit card only
- Use a reputable rental management company. If a home they manage is repossessed, they have others.
- If booking direct from an owner, you must be able to verify the rental home will not be repossessed by the bank by the time your stay comes around.
- If in doubt, keep asking questions. There are hundreds of management companies handling rental homes – so pick a good one!
If you enjoyed this post, make sure you subscribe to my RSS feed!
How is the mortgage disaster, and free fall in home prices, going to be fixed if folks can’t find a new job? There are an enormous number of people which already lost their homes to foreclosure and millions more will unless America starts generating something more then debt. It is time to adjust the trade deals with China. For crying out loud, our greatest trade partner is communist.