Do you own a second home in Orlando?
This property is located in the perfect spot as Orlando draws over 74 million visitors per year.
Word-of-mouth alone will generate plenty of interest in your vacation rental. Even better, it can be a springboard for your next real estate purchase, the start of a lucrative real estate portfolio.
However, you need more than just a great location.
What makes some vacation home rentals better than the rest?
You need a combination of factors, from the right marketing campaigns to upgrades.
Here are a few ideas to start.
Find a Property Management Company ASAP
When you jot down a list of what your rental needs, the responsibilities pile up quickly. Everything from repairs, accounting, and listing submission to rent collection takes time. You can try your hand at managing one property and quickly discover just how much work even one rental is to manage.
Look for a property management company that offers a full-service option for vacation rentals, specifically. This market has different needs. For example, you need heavy marketing since guests only stay for a short period. Thus, you need a quick and reliable property solution that prepares rentals for incoming guests quickly.
Rent collection tools and maintenance request options are two more considerations. Partner with a property management company like PMI Platinum Florida that offers a user-friendly rent payment option for guests; visitors simply pay their rent online using various payment options, making rent collection (and accounting) much easier for landlords.
Think About Amenities
Step into the shoes of someone visiting Orlando on vacation.
What types of experiences would you like to have? How can your vacation rental accommodate that?
The above questions are important to ask when choosing investment properties for your vacation rental portfolio.
For example, what types of amenities would one expect from a vacation rental in Orlando?
The first one would be a sunny backyard with a pool but plenty of shaded lounge space. You could look for properties that already have these features, or you can buy properties and pay to install a pool and backyard entertaining area. Consider adding a grill, outdoor fridge, and other outdoor cooking tools to the backyard.
Guests expect furnished rentals. This gives you an opportunity to create the ultimate Orlando vacation experience, complete with a stocked kitchen for guests.
Property Maintenance For Vacation Home Rentals
If you want to enjoy steady passive income (with great reviews), you must invest in necessary property maintenance. Take stock of everything that needs to be repaired, replaced, or upgraded; start this process with a thorough property inspection.
Make sure your interior and exterior areas are clean (and staged) for vacation rental marketing. Capturing the right photos is so important for this market. An experienced property manager can help you stage your rental perfectly to attract the right guests.
Make The Most Of Orlando's High Travel Demand
Orlando is the best place to start a profitable rental portfolio. Include the above points on your checklist. Don't forget to research property values so that you can price your rental accordingly.
We want to help you invest in your dream vacation home rentals. Take a look at our services or give us a call to learn more about your portfolio options.
