Orlando, FL: The City Beautiful
With 307,573 residents, Orlando is the fourth-most populous city in Florida. It also serves as the county seat of Orange County. Aside from “The City Beautiful,” Orlando is known as the “Theme Park Capital of the World” thanks to its high concentration of theme parks such as Walt Disney World and Universal Orlando. These parks, along with a number of other attractions, contribute to Orlando’s status as a popular tourist destination.
Orlando also has a significant arts and culture scene. Residents and visitors alike frequent places such as the Orlando Museum of Art and the Dr. Phillips Center for the Performing Arts. Performing arts companies that reside in the city include the Orlando Ballet, the Orlando Repertory Theatre, the Orlando Philharmonic Orchestra, and the Orlando Shakespeare Theater. The city also hosts a number of events like the Orlando International Fringe Theater Festival and the Orlando Cabaret Festival.
Orlando also has an abundance of shopping malls such as the Florida Mall, Orlando Fashion Square, and the Mall at Millenia. Colleges and universities located in the city include the University of Central Florida, Valencia College, Florida A&M University College of Law, and Seminole State College of Florida. Other points of interest include the Wheel at ICON Park, the Orlando Science Center, Lake Eola Park, and the Harry P. Leu Gardens.
How Is Orlando’s Rental Market?
Orlando definitely has one of the most attractive rental markets, both with regard to short-term and long-term rentals. Seeing as how Orlando is a popular tourist and vacation destination, it comes as no surprise that 64.6% of its population are renters. Perhaps this is also due to the rising cost of homes in the city. In fact, the median listing price for a home in Orlando is $325,000.
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Rental property owners stand to earn a sizable rental income in Orlando. The average rent for an apartment in this city is $1,611, which represents a 14% year-over-year change. Only 6% of apartments in Orlando charge a rate below $1,000, whereas 16% charge a rate above $2,000. The bulk of apartments in this city command a rental rate between $1,000 and $2,000.
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Beyond that, Florida is a very landlord-friendly state. Its landlord-tenant laws are not comprehensive and there are no limits on late fees. Plus, rent control policies are prohibited in Florida, making it a favorable place for rental property owners.
Why Go With an Orlando Property Management Company?
On the subject of rental management, purchasing the property is the simplest step. After that, you need to fulfill a multitude of tasks and duties. Because of this, a lot of landlords choose to hire a property management company in Orlando.
But, what can a rental property management company do for you? A property management company can take over your duties as a landlord. Their services can include but are not limited to finding tenants for your property, screening tenants, showing your property, setting rent, collecting rent, preparing the lease agreement, enforcing lease terms, and overseeing property maintenance and repairs.
Property management in Orlando is harder than it looks. If you find that any of the following circumstances apply to you, then it is time to seek professional property management:
- You own more than one rental property.
- You don’t have enough skill or experience in rental management.
- Managing a rental property is a full-time job, and you simply lack the time for it.
- You live far from your rental property.
- Being a landlord just doesn’t interest you.
Orlando Property Management: What’s Next?
The hunt for the best Orlando rental management company can be exhausting. Start your search right with the help of Rental Choice’s online directory. We list down property management companies by area, including ones in and around Orlando.
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