Vacation Rentals Community

Hi all!  Stumbled across this site and forum quite by accident, and I'm hoping to obtain some information.  I have a unique opportunity in the near future to relocate to Orlando Fl, for the purpose of school.  My thought process is that since I'm not sure once schooling is complete if I will remain there, I have been reviewing properties there that are zoned for short term rental purposes.  I realize that since I will be occupying the residence for the first 18 months that these inquaries could be a tad premature, but I really just want to make sure this transition goes as smoothley as possible.  So my questions are, are there any special circumstances I should/could be looking for now that will help me when I'm ready to rent my property??  Are there realtors whom specialize in just short term rental properties?  I've read on a few instances where short term rentals are governed highly, and getting tougher in the state of florida, is that true??  I have a host of other questions, but these should get me headed in the right direction.  Any information I can obtain to push me in the right direction would be greatly appreciated.

 Thank you,

GinaJ

Realtors don't dedicate much time to vacation rentals usually.  However, there are many vacation rental managers that should be able to assist you.  I recommend you visit the Vacation Rental Managers Association website (vrma.com) for finding vacation rental managers in the area your are planning to move to.  Only in very few areas in Florida laws got tougher in regards to vacation rentals.   However, in the area you are looking for there is a pretty big vacation rental marketplace.

 Good Luck!

Actually - in the Orlando area, there are realtors that specialize in vacation home market and that have a great deal of knowledge of the short term rental market!  We found one while on vacation in Orlando (we just picked up a free magazine at the grocery store that focused on vacation homes).   We have now used our agent twice (first home purchased in May, 2007 - second one being built!) - in Orlando, it is a great market but it is huge, with TONS of options - a good realtor can make the process very pleasant!

Best of luck to you!

Deanna Quinn

Quinns Vacation Homes 

i do agree with quinn, realtors specializes in vacation home rentals.they don't dictate what to do.it would be your call. 

I'm looking for information from someone who has gone through the process of selling their vacation home. I've been a lodge owner for 4 years & was thinking of looking into selling. Any comments...

Linda - Home in Tahoe ... leader in lake tahoe real estate 

Hi Gina,

I would be very cautious about purchasing a short term vacation home in the Orlando area.  If you are going to school most of the vacation homes are located in Osceola County and North Polk County which is a pretty good drive from most schools located in Orlando.

In my opinion vacation homes are not investments but rather luxury items that should only be purchased by someone that enjoys vacationing in Orlando and can afford the cost of owning and maintaining a second home.  I would not look for a vacation home in Orlando to have a positive cash flow if you choose to not stay in Orlando after school.

Orlando has been hit pretty hard with the down turn in real estate and there are some really go buys out there.  With so many homes in Orlando available for both short term and long term rental you may want to rent for a while and see if Orlando is for you.  For a long term investment you may find a home near the school you are going to attend that is for long term rental use that you can rent out long term if you choose to leave Orlando after attending school.

Short term rentals in Florida are governed under the Florida Statue 509 which also covers other short term lodging like hotels and campgrounds.  Florida is a short term rental friendly state and I do not see any reason for that to change.  In Central Florida the short term vacation homes add millions of dollars to the local economy.

Make sure to keep doing your homework.

Gina, the advice Brian gave you is excellent...I agree with him 100%