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September 29th, 2011 1:54 PM by David W. Welch
Guest blog post courtesy of Paige Taylor*
The Orlando real estate market has been one that’s oft been analyzed and evaluated over the past few years. Some of the recent numbers have been a little more hopeful than usual, especially when you consider the possibility of some increases in rent may attract possibly buyers looking to invest in a home to rent out.The Orlando vacancy rates have apparently dropped to about 7 percent, as compared to 8 percent earlier in the year. The lower vacancy rate is good news for those potential buyers who want to rent out properties. Real estate experts see a slight increase in rent throughout the area. This would include vacation /short term rentals, as well as long term/year long leases. For those potential buyers who are interested in Orlando apartments, condos or homes for sale, these figures could get them off the fence and into the market. Expectations are that by the end of the year 2011, the area’s rental rates would go up by about 3 percent on average. Usual increases amount to just about 2 percent in a normal year, but the 2011-2012 changeovers could be a departure. Aside from the rental increases, the average rental prices are expected to sit still at $860 a month. Potential property owners and investors will be pleased with the recent figures and expectations. Orlando offers plenty of different homes. Some of the southern houses near the tourist attractions could double as short term and vacation rentals. The tourist industry is keeping the Orlando area booming, especially south of downtown. With respect to investors who are aiming for long term rentals, there are plenty of communities to choose from. Areas like Lake Mary and Winter Springs have been charted on national “best places to live” lists and there’s also a host of excellent communities such as Baldwin Park in the Orlando area. The Orlando population expectations are focused on an increase in the near future, along with a better outlook on jobs in the area. Property investment and renting have become even more popular in recent years. With great sale prices and inventory in the current real estate market, buyers are taking a great interest in the current numbers and trends, which seem to be heading the right direction. If the rent rates follow through with expectations and go up in some form, property owners will be primed to realize a return on their investment quicker than normal.
*Paige Taylor is a recent college graduate with a degree in creative writing. If you have a blog and need help coming up with content, maybe Paige can help you out. Just contact me, and I will put her in touch with you.