posted by orlandovacationhome on Nov 15
Cheap Orlando Vacation Homes
Vacation homes in Orlando have become a cheaper commodity. It is estimated there are 35,000 +/- vacation homes in the area. Many of these vacation homes are often unoccupied.
Expect the Orlando vacation home rental rates to drop further for the following reasons:
- Many current owners are now cash strapped and are willing to rent their homes for less
- As the recession sets in, less people are visiting driving demand down to rent these homes for their Orlando vacation. Please see our POST on this topic.
- There are large amounts of these vacation villas entering foreclosure and are being picked up for a fraction of their original price, thus the new owners can rent them out more affordably.
Many of these expansive villas can now be rented at a lesser price than most cramped hotel rooms.
Don’t be afraid to shop around for vacation villas in Orlando, and feel free to ask a lot of questions. Remember, all vacation villas and vacation home management companies are not created equal, so do your homework.
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posted by orlandovacationhome on Nov 12
When booking an Orlando vacation home rental via the internet, part of your decision will include selection a quality vacation home management company. There are plenty of Orlando vacaction managment companies to choose from in the Central Florida area.
- Professionally run with 24/7 customer service
- A professional easy to navigate web site to select your Orlando villa
- The vacation homes have a quality assurance program in place to maintain top notch vacation home standards (Please see our blog post on this topic).
- The Orlando vacaction villa management company has their own service trucks and maintenance staff and are always on call.
- Location of the vacation home.The home should be in a completed and well maintained vacation home community subdivision. No vacant lots and overgrown lawns in the area. Please consult our site often for updated vacation home community reviews and ratings.
- Great vacation villa community facilities (i.e. pool, clubhouse, community activities)
- Internet access or WiFi in the Orlando area villa
- Crystal clear pool/spa
- Fully furnished includes items like blenders and other amenities in the kitchen – not just the basics
- A game room for the kids
Ultimately, you will decide what’s important to you and your family’s Orlando vacation experience. Always try and book the homes with the best location (as close as possible to the parks if that’s where you want to be). Ask the management comany a lot of questions and consult our independent vacation home community ratings. The best run companies are always happy to answer all your questions.
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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 28
Foreclosures Effect Orlando Vacation Home Market.
The level of foreclosures in the Orlando vacation home market are now at or near record levels. As many vacation homes in the Central Florida are second homes and many were bought by speculators, the prices in many communities have dropped significantly. It would seem that many owners have simply walked away due in part that the rents from such homes are not enough to cover their expenses.
Some of the communities hardest hit are those that saw the greatest appreciation. Unlike regular homes, vacation home communities tend to have less permanent resident owners that can help stabilize the area or neighborhood.
Many banks are also being tough when lending on vacation homes which can further hold demand down. In effect, this means that many homeowners who bought a property over the prior three years could now face significant losses they sell today.
We are not real estate professionals, as we had to go through online public records, and methodically pull sales along with calling a few local realty offices in the Orlando and Kissimmee area. Our information may not be perfectly accurate so, as always, consult a real estate professional in the area and have them pull the data for you.
So what will happen to the Orlando vacation home market in the future? No one knows, and it is pure opinion and speculation at best. If we knew, we would be sitting on an island in Tahiti sipping a beer rather than worrying about the general state of the market.
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posted by orlandovacationhome on Oct 12
Renting an Orlando Vacation Home Rental in the Foreclosure Crisis - 10 Tips
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 the home rental 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!
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