I bought a house in Kissimmee for one of my clients 4 months ago for $197K and they now have to move out of state due to their work situation and their home is now worth around $230K which not a bad move for only 4 months right?
Vacancy is of course can vary depending on the area but Kissimmee is a major city so I do not foresee that much problem with renting out your home as long as you are in a demanding area.
Management companies usually charge anywhere between 8% to 10% of the monthly rent to manage your home.
3% is usually what Realtors charge to sell the home. So I assume that is what your friend has referred to.
Below is the link to some homes in Kissimmee just so you see your options:
Hope this helps.
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Let me give you the best advice you will ever get about this area. Do not buy here site unseen. Come here in person and check out the area before you invest.
Rental demand is great becuase so many people lost the homes they owned, but obviously they still need to live somewhere.
HOA fees have nothing to do with rental management. Read my blog: http://www.trulia.com/blog/mark_lemenager/2011/09/hoas_and_c
"Kissimmee" is a large area which encompasses many zip codes. 34759 which is referenced in the link in the article you cited is a residential area which most would call Poinciana, FL. I would say it, and neighboring zip codes 34758 and 34746, have pretty good long term rental demand. It's a growing and pretty popular residential area.
Kissimmee also includes zip code 34747 which contains the closest short term rental approved communities to the Walt Disney World Resort. Certainly there is much rental potential there. The Orlando area welcomed a record breaking 55+ million visitors in 2011 and preliminary reports from VisitOrlando, the state's tourism marketing firm, last week indicate another 2.3 percent increase for the state as a whole in 2012 to 89.3 million visitors with a record breaking 10+ million overseas visitors.
At last report in June, the theme parks all posted attendance gains and Magic Kingdom at Disney remains the most attended theme park in the entire world. We have 7 of the top 10 theme parks in North America and 5 of the top 10 in the world. All minutes from Kissimmee!
My focus is Disney area vacation homes / short term rental properties. If that's the type of rental you had in mind, feel free to contact me to explore things further. I'm available to answer your questions. The firm I work for has been in business for 20 years providing quality vacation rentals near Disney. I can help with Sales as well as Property Management and Rental in select, well performing, communities. We have a long term rental division as well.
(In our area, you typically have fees to an HOA(s), Home Owners Association(s). The commission and or fee to your hired Property Management Company is a separate matter.)
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As a Realtor, and as an owner of a Property Management Company, I can tell you exactly what you need to know. We started out as foreign investment home owners renting our home in Kissimmee in 1993 and we progressed from there. There is a ton of things you need to know and understand before you buy, not only the right house, but the right location is critical to your future financial well being. Feel free to call me direct and I will be happy to discuss all aspects of rental home ownership. Thank you
Only Way Realty LLC
407 709 1911