The Orlando real estate market comes with a lot of options for investors. There are new construction condos in gated communities, single-family homes in the city and suburbs, and established neighborhoods with a comfortable mix of homes and residents. We work with new and experienced investors who rely on our insight into the local Orlando rental market. Whether you’re looking to buy your first property or you’re building a large portfolio of real estate, we think single-family homes are the best way to invest in our market.
Today, we’re sharing some of the reasons why we recommend single-family rental homes in Orlando.
Single-Family Inventory in Orlando is High
Existing single-family homes are readily available on the Orlando market, and they aren’t outrageously expensive, especially when you compare Central Florida real estate prices to other cities on the east coast. New construction continues to provide additional inventory.
As an investor, you can find single-family homes in a number of diverse and unique neighborhoods around the region. Whether you want something close to the downtown Orlando or in popular outlying areas like Lake Nona, Celebration, or Winter Park, you’ll find there are lots of options. Single-family homes are available for purchase throughout Orlando, and you can negotiate a great deal.
Attracting Long Term Orlando Tenants
One of the main benefits of investing in single-family homes is that you attract higher quality tenants. People who want to move into a single-family home are likely to be more stable and reliable. They want to settle in for a while and probably won’t move as soon as the lease term ends. With demographics changing and a new generation of tenants shifting from home ownership trends to a preference for renting, a single-family home will give you the opportunity to find a tenant who is likely to pay rent on time, take care of your home, and stay in place for several years.
Single-Family Orlando Homes Earn Higher Rents
There’s also the attractive rental values. Typically, you will earn more rent on a single-family home than you will on an apartment, condo, or multi-family unit. People are willing to pay for the extra privacy and space. The outdoor space, garage parking, and extra square footage will translate into a higher rental prices and more cash flow for you.
Orlando Investments Increase in Value
Single-family homes have always appreciated in value faster than multi-family units.
When you’re ready to sell your asset, you’ll sell it for more and turn your equity into higher returns. Property values will continue to climb when you invest in a single-family home Orlando rental property, and that means you stand to earn more money on the investment in both the short and long term. It makes sense for most investment portfolios in this market.
Maintenance Needs are a Shared Responsibility
Every rental property comes with maintenance costs and expenses, but with a single-family home, you can probably rely on your tenants to help you take care of it. People who rent single-family homes want to enjoy the benefits of living in their own home without actually buying it. Your tenants will be more likely to help with things like landscaping and yard work, pest control, and other minor maintenance issues.
We’d be happy to talk further about how you can benefit from investing in single-family homes in Orlando. Contact us at Park Avenue Property Management.