Despite the pandemic, vacation rental properties are on the rise. Covid-19 has devastated many industries around the world, including tourism. However, in Florida, where most attractions are open, domestic tourism is getting back to speed. In addition, due to the vaccine rollout, many people are now safe to travel within the United States. Right now, many people have taken the opportunity to visit Florida- especially Orlando and its theme-parks. What does this mean? The Orlando short term rental market is hot at the moment.
Orlando has managed to bounce back because of many reasons. For starters, the Covid-19 regulations in Florida have remained relaxed for months. This, combined with wonderful weather, makes it the perfect vacation destination for anyone wanting to get out of their usual routine. Investors have taken advantage of this, and have been looking for Orlando short term rental opportunities. Not only is the short term rental demand high right now, but these homes work great as hybrid investments. That is, owners use them as second homes when they visit Orlando, and rent them out to tourists the rest of the year.
Occupancy rates on short term rentals is high in Orlando at the moment. Not only that, but the overall real estate market in the area is also booming. Florida is growing by about a thousand people a day. Right now is a great time to invest.
Source: PR Newswire