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.
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!
posted by orlandovacationhome on Nov 10
Eyebrows were raised earlier this week when HomeAway, an Austin, Texas based vacation tech company, was able to raise $250 million through venture capital sources for what CEO Brian Sharples termed opportunities for the company to pay down debt, insiders to cash in a little equity, and for the vacation home rental company to perhaps pursue additional vacation home acquisitions. This comes on top of a $209 funding several months ago.
HomeAway owns the homeaway.com, vrbo.com, vacationrentals.com, a1vacations.com, cyberrentals.com and ownersdirect.co.uk websites. They are the proverbial 900 pound gorilla in the vacation home rental and vacation home management niche of hospitality lodging. They maintain some of the best vacation villa rental inventory in the Orlando area within several luxurious vacation home communities with a plethora of pools and other amenities. Inside sources indicate that roughly 30% of its revenues come from overseas which makes its domains a prime fit for Orlando tourism and travel. These brands certainly have a strong presence in the Orlando, Disney area and Kissimmee vacation home rental markets.
The ability for the firm to acquire capital in such a rough market does indicate that the clout and respect for the vacation home management and that the vacation home rental business model is growing. Strong consistent growth and a relatively stable cash flow model has now shown to be a valuation premium in this difficult market. My guess is that the funding will in time be used to:
1. Help HomeAway and its online brands to strengthen their market positioning in Orlando and other vacation home rental markets in the Central Florida area and elsewhere
2. Make additional prudent acquisions as the dust settles during this recessionary period. This additional funding might allow the company to expand its Orlando footprint in more “drive to” vs. “fly to” destinations that may come back quicker as a result of lower gas pricing for consumers.
3. Grow its presence in the vacation home managment area where cash flows tend to be stable and where its brand presence will give the company clear competitive advantage and leverage with homeowners
posted by orlandovacationhome on Oct 12
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 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!
