Updated for 2016
Davenport is a great little spot for short term rentals. It’s really grown a ton over the years. Many people seek it out because it feels like it’s off the beaten path, and much of it really it.There are however, specific factors you should understand when jumping into a Davenport short term rental property investment. There are however, specific factors you should understand when jumping into a Davenport short term rental property investment.
I just got done speaking with a sales rep from one of the new homes communities here in Davenport. He was giving me some of his marketing materials for me to pass on to my clients and was explaining to me about how his community is such a wonderful place for my Foreign National clients to buy in. When I asked him if the lots were large enough for pools he told me that only some of them were but you could not put a pool in all of the models. That is a huge problem because 90% of the short term management companies up here won’t take on homes without pools and the ones that do can’t really rent them. The last thing you want to do is spend $200,000 or more on a second home and not be able to rent it out to offset your expense. A lot of this is going on in the Davenport neighborhoods that are being built further out along the 27 strip South of I-4. If you go too far out you start to find yourself in the “no mans land of vacation rentals”. By this I mean, it’s a bit too far out from Disney for anyone to really want to rent it, it’s also a bit far out that developers aren’t really taking short term rentals into consideration when building there and it’s also not an overall good investment unless you are buying strictly as a second home and you do not care about rental income.
To any prospective buyers out there who are considering purchasing a Davenport short term rental property, I recommend you work with a Realtor who specializes in vacation rentals (cough cough) so they can help guide you away from these potential problems. If you just want a quick rule of thumb on where you should be looking, stay within the 8 mile radius of Disney and you’ll be fine. The sales people at the new home communities are great but most of them are not aware of the key factors that contribute to a sound second home investment, especially the ones working in mixed residential/short term rental communities. Have your Realtor escort you to all of these communities that you are viewing so they can ask the right questions for you. The service is free and could save you thousands in the long run.
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