posted by orlandovacationhome on Nov 11
If you are visiting Orlando Florida and looking for a vacation villa rental, there is great news. There is a huge oversupply of Orlando luxury vacation homes for rent. This means deals to be had abound for your Orlando vacation. For about the price of a mid-market hotel room, you can rent a fully equipped vacation villa home with your own private pool and do as much self-catering in a full kitchen as you like. This would certainly help you cut down on your dining and entertainment bills. Thousands of homes were built over the last ten years, and now many owners need to rent them. On any single night in Orlando, many of these homes sit empty.
Occupancies Dropping
In Orlando, the hotel industry will be the first to tell you their occupancies plunged in September 2008 over 2007, with room revenues dropping by as much 20-25%.
Many Owners Need to Rent
Many vacation homeowners are now feeling the pinch of the housing crisis, and many of the speculators who bought now need to generate additional income to the pay the mortgage.
What does this mean to you, the renter?
You need to rent through a good Orlando vacation home management company. Booking direct from an owner can be hazardous, as often they are from out of state, and if there is a problem, you are often on your own. Also, the Orlando villa could be in some stage of foreclosure and a good vacation home management company can make sure your villa is still available, clean and inspected the day you arrive.
- Shop around. There are thousands of Orlando villas and hundreds of vacation home rental management companies. Make sure you rent a good home, get a great deal and stay in a great location for your Orlando vacation.
- Always pay by credit card.
Orlando Vacation Homes - Great Deals for Renters!
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posted by orlandovacationhome on Oct 31
We think good Vacation Home Management includes, but is not limited to:
- All rental mark ups are fully disclosed to owners
- All repair costs are fully disclosed in detail
- Accounts can be accessed on line at anytime to see all bookings, fees and revenues
- Any conflicts of interest are always fully disclosed by the managing entity
- The cost of property maintenance is clearly broken down
- The ability to opt out of the management agreement at any time
- Quality assurance scores and complete inspection photos are disclosed monthly
- Quarterly contacts to go over the scores by the manager
- Realistic estimates formulated on the level and type of rental income the home can generate
- Enabling owners to escrow for capital (major repairs) in an account the owner controls
Please see our other blog posts for additional tips and suggestions for choosing a vacation home management company.
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posted by orlandovacationhome on Sep 12
Always do your homework. There are hundreds of management companies and picking the wrong one can be costly. Here are some questions you may want to consider asking:
- Are they licensed and do they have proof of licensure?
- Are they insured and do they have proof of insurance?
- How long have they been in business and do they have proof of that experience (references, etc…)?
- How many homes do they manage?
- Do they have a physical office and where is it located?
- How will they market your house to potential renters?
- How many full time staff do they have?
- Do they contract out and markup pool service, cleaning, landscaping and general maintenance or do it themselves at cost?
- Do they have a system that an owner can access and view when the home is booked?
- Do they have a system where I can view my account and property maintenance?
- What is the average occupancy of homes they have managed for 3 or more years?
- What type of preventative maintenance will they do on my home?
- Do they make a profit off repairs and maintenance?
- How is my home inspected and maintained?
- Will they guarantee a minimum net rental income in writing?
- Are they also real estate agents?
- Are they registered with the Better Business Bureau?
- Do they have 24 hour customer service?
- Can they provide you with a dozen references (of other home owners) for you to call?
- What type of quality assurance do they offer and how is it communicated?
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