Orlando Vacation Homes For Sale

Since 2003, our team has gotten this question over and over. We must know what’s most important to you to answer this question correctly. In the meantime, you can start by looking at our featured vacation communities list. Each of our featured communities offers something unique. As our team learns more about your interests, we can offer more specific recommendations. Don’t hesitate to contact us when you are ready to take your vacation home search to the next level.

The short answer is no. To use a home as a vacation property, also known as a short-term rental (STR) property, the home must be located in a community or on an appropriately zoned parcel. Typically you will be looking for a home zoned for short-term rentals.

In most cases, you can, but each community is different. The Homeowners’ Association (HOA) manager will provide a set of by-laws detailing what can and can’t be done in the community. HOA by-laws can change over time. Verifying that the rules fit your needs during your due diligence (home inspection period) is essential.

In addition, if you plan to hire a rental manager to handle the day-to-day management of the property, they might have restrictions on self-booking since double-booking can occur when two parties are booking the same property. In many cases, rental managers will provide an online rental portal that you can use to verify the property’s availability before booking. Communication is the key here. Before deciding on a rental manager, determine if their system meets your wants and needs.

In most cases, the Homeowners’ Association (HOA) fee will cover the maintenance of the shared spaces within the community, including the grounds, community pool, and other shared areas and amenities. Some HOAs will include much more, so understanding the fees and what’s included must be considered and understood case by case. It is a best practice to request and review a current set of Covenants, Conditions, and Restrictions (CC&Rs, also called the HOA Documents). Without checking these documents yourself, you could find yourself with something unexpected. During your initial online search, you can view the listing details, which may show some of what’s included in the HOA fee but keep in mind, it is your responsibility to review the HOA documents for yourself.

While looking through listings of vacation homes for sale, you may notice that HOA fees can vary significantly. Your first instinct might be to bypass communities with higher HOA fees for ones that are lower. While this may appear your best move at first glance, the opposite may be true.

Typically, the communities with higher HOA fees offer better amenities. Vacation homes in communities that provide the best amenities (resort style) tend to rent out at higher rates (offsetting higher HOA fees).

We are offend asked, what is the rental history for this property? Or what are the expected rental income and expenses related to owning a vacation property in the Orlando area.

While you can request this information from the seller anytime, this data may be difficult or impossible to obtain early in the process. For new listings, the seller may still need to prepare this information. For older listings, the information may be unavailable for other reasons. The bottom line is this; you can get your numbers over time using various resources. Rental managers familiar with similar homes in the same community are a great resource. If this information isn’t readily available, don’t let this stop your progress. Waiting for exact numbers before showing interest to the seller and their property can cause you to miss out on the best opportunities.

In addition, not all homes have rental history. It’s common for some owners to forgo renting out their properties to keep their homes ready and available for personal use only. Newly built homes will not have rental history either.

While we understand your need to know the numbers before buying a property, attempting to acquire this information too early may frustrate you while putting your real estate agent in an impossible situation. Historical rental income and expense records are typically obtained and verified during the due diligence (inspection) period outlined in the purchase agreement (typically 7 to 15 days).

In the meantime, you need to begin researching the numbers for yourself. The best way to do this and educate yourself on what can be expected is to start collecting general numbers right now, then adjusting your numbers to reflect your actual situation and findings. To help you facilitate this step in the process, we have created this estimator to help you get started:

• Vacation Home Income & Expense Estimator

This question is complicated because there are many variables. Every property and situation is different. Even with two nearly identical houses side by side, your numbers can differ substantially. Though the two houses appear to be the same, as you look closer, you notice the differences. One home has a lake view, while the other doesn’t. One house is freshly painted and decorated with professional marketing photos, while the other looks outdated. Many factors contribute to how much rental revenue a property can generate. Getting to know the market by looking at comparable rental listings will give you valuable insights into a property’s income potential and provide ideas on how to improve your future home’s income potential if brought up to a higher standard.

To learn what income and expenses can be expected, you can use our Estimator here to gather information about a prospective property or properties within a community. Your effort will prepare you to make the best decisions possible.

• Vacation Home Income & Expense Estimator

The Tourist Development Tax, also known as the Occupancy or Rental tax charge for Osceola County is currently 6%. You can view the Osceola County Tax Collector’s website here for more details.

In most cases, this fee is passed on to the guest and is collected by the rental manager.