Bye Bye Florida home - unless you can help!

[CaptainessKylie]

So upset! I just found out my mum is planning to sell our beloved house in orlando! She brought it because we as a family make a lot of trips out there ad she was hoping to fill it with renters for the rest of the time but she never got the advertising right. So now she wants to sell it! I'm so sad! Its a lovely 4 bedroom house about 15 mins from WDW and with a back yard and swimming pool 2 family rooms dining room all that! I MISS IT ALREADY! so if anyone knows of anyone looking to rent (short term or long) long-term would be great!!!! then let me no and we can keep the house in the family

 

[barnum42]

Even if the house is sold, there are still plenty of inexpensive hotels you can stay in.

 

[mom2of2]

So upset! I just found out my mum is planning to sell our beloved house in orlando! She brought it because we as a family make a lot of trips out there ad she was hoping to fill it with renters for the rest of the time but she never got the advertising right. So now she wants to sell it! I'm so sad! Its a lovely 4 bedroom house about 15 mins from WDW and with a back yard and swimming pool 2 family rooms dining room all that! I MISS IT ALREADY! so if anyone knows of anyone looking to rent (short term or long) long-term would be great!!!! then let me no and we can keep the house in the family

I know a lot of people are looking for long term rentals in the area. What developement is it in? County? and how much per month?
Houses aren't selling right now....at least not in my neighborhood....it's sad to see so many just sit there empty.

 

[CaptainessKylie]

It's in a purely residential area, with not a tourist in sight unless you drive for about 5 minutes in osceola county on a road called hidden springs circle. I think that the small shopping complex near it is called Buena-Ventura Downs. Might be mistaken! It's quite close to Boggy Creek Road as well.....

Really don't want it too leave the family! its such a lovely house full of memories!

 

[mom2of2]

best of luck to you and your family

 

[SpongeScott]

It's in a purely residential area, with not a tourist in sight unless you drive for about 5 minutes in osceola county on a road called hidden springs circle. I think that the small shopping complex near it is called Buena-Ventura Downs. Might be mistaken! It's quite close to Boggy Creek Road as well.....

Really don't want it too leave the family! its such a lovely house full of memories!

best of luck selling it. Florida is in a buyer's market right now, so you might have it for longer than you think.

 

[5mins2disney]

Go get yourself signed up for vrbo.com and make a listing for renting out your house. You should also put together a website ..etc...which isn't all that hard to do.

I just did one about 6 weeks ago... www.5mins2disney.com for our brand new townhome in Windsor Hills...and we have tons of bookings already!

It's a lot of work to setup your website and answer all of the emails and inquiries you will get...but it's worth it..especially if you don't want to have to sell your home in a down market.

Our place is getting close to breakeven already...it's more work than you think but it's definitely doable.

Another route you can go is to hire a local property management company...some of the better ones will get the bookings for you...and take anywhere from 10-30% of the rental income for doing so..but they do all the work!

It's not as hard as you might think...you already own the property...!! Now go out and get some rental bookings!

You might even have some luck finding some Disney castmembers or something who are looking to be roommates and rent it for an extended duration or something similar.

 

[DISMUM]

There is a lot of difference between a townhouse and a pool home when it comes to renting and over heads so what works for one will not work for another .There are many owners of pool homes having to sell because they cannot make it work as there are too many homes and not enough rentors.
As for getting a mc to get bookings -well -you might as well pay people to stay in your home as after taxes and cleaning charges there will be nothing left from the very low rates you get from them .
Remember as an owner you could be 3rd inline for money once a guest has paid
for their holiday so work out what you get.
If the home is not paying its way the the best thing is to get rid if you can and rent someone elses home and save your money .

 

[tednvon]

Sad but true from DISMUM

If your home is not in prime location very close to Disney, chances of renting for any kind of profit or break even is hard...especially if you still have a mortgage financed at 10 or 20 percent down.
Prime locations are still just off 192 on either Formosa Gardens Blvd, Old Lake Wilson Road, or maybe Lindfields.
Terra Verde of Poinciana seems to be hanging in.

We bought just after 9/11 when they were begging for buyers and sold 18 months ago when people were scrambling for homes...it has all changed from what I can tell.
VRBO.com, and the other dozens of "by owner" sites are great, but it takes work and IMHO you have to cut rental rates to really compete.

Sorry to be so glum, and maybe this is just a phase as there are millions of boomers looking to live in the sun some day and maybe the market will really turn around. Most sales still look like they are above original cost, especially if you bought 4 to 10 years ago...

Good Luck...Ted

 

[5mins2disney]

How about renting it out to someone who is looking for a place to live / rent / stay then for a long term rental? Like cast members or others in the area who would like a nice house to rent out to live in for 6-12 months? There seems to be a bunch of people looking for housing like this...even if you got a few people living there and they split the costs... beats selling in a down market...and may just cover your costs so you don't have to sell. Of course your cost basis depends on when you bought the place and what your payments are and all..but I'd be trying to find a rentor.

You could try and list it as "rent to own" and work out a deal with someone whereby they pay you a premium and recoup some of the costs if they buy it from you in a year. The advantage of this is that people who are "rent to own" often take very good care of your place while there...as it may become their place down the road. Also, if you need to sell..then you found a buyer. Usually you agree to the sales price up front during the rental contract.