Central Florida’s strong real estate rental market

DAVENPORT, Fla. - July 14, 2015 - PRLog -- Everywhere you look, there are indications of a strong rental market in Orlando and across Central Florida, which is great news for buy-to-let investors and second homes looking to maximise earnings potential. The figures may differ slightly but they all tell the same story – of growing demand and rental returns.

Orlando was the biggest climber in the top 17 US markets for apartment rent growth, rising from 15th to 10th, with effective rent growth of 6.7%, according to April data from apartment research specialist, Axiometrics.

The vacancy rate in the area was 4.6%, a separate report from Real Data Apartment Market Research suggests, with more than 2,000 renters coming into market in the previous six months.

Developers are hoping to capitalise on the boom in demand and there are more than 12,000 units – including exclusive projects from Feltrim Group like its luxury new Balmoral at Water’s Edge - under construction or planned in the region.

A third set of figures from MPF Research, this time for the first quarter of 2015, puts annual rental growth in the Orlando region at 4.7% and says “recently, surging demand resulted in healthy occupancy rates and strong rent growth levels.”

Solid demand lifted occupancy 0.3% quarter-over-quarter to an occupancy level of 95.9% and with relatively few vacancies, operators increased rents 0.8% quarter-over-quarter.

MPF Research agreed that completions will remain around the current level in the coming year, which should allow Orlando to further capitalize on its “attractive demand tailwinds”.

But it’s not just Orlando that is seeing a surge in interest. Feltrim Group’s local real estate offices in Davenport and Windermere, Central Florida have seen demand for long-term rental rising, too.

Garrett Kenny, Chief Executive Officer of top developer and agent, Feltrim Group, says, “In places like Windermere and Winter Garden, property prices are going up and our agents are having difficulty getting enough rental stock.

“Whichever set of figures you take, there is no denying the increasing demand for both long-term rentals across Central Florida and shorter-term options for vacation properties and that the market is exceptionally strong.

“Feltrim Group offers a complete rental service, which is especially ideal for overseas property buyers who want to rent their holiday homes out while they are not in use.”

For those looking for Central Florida investment property, Feltrim Group’s new Balmoral at Water’s Edge luxury lakefront resort and community is set to be one of the most attractive developments south of the Disney area.

The luxury homes are set in a 113-acre private gated community with natural and man-made lakes and impeccably landscaped gardens and parks, which provides an upscale lifestyle for owners and an excellent buy-to-let option for investors.

Balmoral at Water’s Edge features a host of top-class leisure facilities, including a resort-style pool with luxury clubhouse, mini waterpark, lakeside beach, gym and spa, gourmet kitchen, restaurant and more.

“Surrounded by gardens and lakes in a private, gated community, its prime property, location and facilities mean it is also an ideal choice for real estate investors,” explains Mr Kenny.

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