Orlando has a very strong rental market, which is thriving. We are experiencing record occupancy rates. Most rental companies are experiencing vacancy rates of only three or four percent. This is attractive to investors, who are asking us to locate ideal rental properties for them.
We are focusing on three or four areas in Orlando at the moment. These are neighborhoods that we know will easily attract tenants, giving you income every month. These are also areas of excellent capital growth potential. This is good for your long term investment returns.
Our areas of focus are:
- The University area, near UCF
- Lake Nona, near the medical city and new hospitals (which means new jobs)
- Hunter’s Creek, near the airport
- Oviedo, north of UCF and suburban
We are focused on these areas because while the housing prices are not the cheapest, the capital growth has really good potential. Lake Nona has had a lot of publicity lately, mainly because of the institutions and the medical center that is growing and will continue to grow over the next five years. We have seen actual results where properties are going on the market and renting within days. Some places are getting three or four applications. The A-rated schools and medical jobs are a draw for high quality renters and the area is also five or ten minutes from the airport. These things really drive the rental market and provide good investment returns. Price points are in the range of $120,000 to $500,000, depending on what you want to buy.
Oviedo and the UCF areas are on the east side of town and have great employers as well as the university. You will find large employers who have their families living there because of the good schools. With the proximity to UCF, you also have potential roommate situations. Some landlords don’t want roommates, but I like that type of situation. If you get three roommates going to the university, you’ll probably get three sets of parents as guarantees who will sign the lease. This area has become busy and while the prices are not as high as Lake Nona, they are getting there. You’ll also be able to charge a good market rent.
Hunters Creek is a community on the way to Disney. There are two markets here; people working in medical city and people working in the tourist industry. These populations make good tenants because they are paid well and they can come up with rent every month. The price point here is from $80,000 or $90,000 to about $180,000. It’s a popular price range for the investor who likes a three or four bedroom single family home.
If you are considering investing in rental property in the Orlando area, please feel free to contact us at Warner Quinlan. We’d be happy to consult with you at no charge or obligation, and we look forward to working with you
