Despite the lingering pandemic, Authentic’s vacation rental properties hit 86% occupancy rate in March, with some Orlando short-term rentals seeing 90-98% occupancy over spring break.
COVID-19 devastated industries around the world. Of these industries, tourism was one of the worst affected. However, in Florida, where attractions have been quick to reopen, and COVID restrictions relatively lax, domestic tourism is getting back up to speed.
Now, as expanded vaccine eligibility rebuilds trust in travel, Orlando theme parks, restaurants, and attractions are seeing wait times and lines return to where they were before COVID. And vacation homes, as mentioned, are almost back at full capacity.
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So how has Orlando managed to bounce back so fast? For one thing, it’s been a long winter. Especially up north where the weather makes outdoor activities (the only safe kinds of activities in a pandemic) difficult. But Orlando’s weather is perfect for outdoor activities all year round.
Then there are the theme parks. Both Disney World and Universal Studios have new and coming attractions, and Universal is building a whole new park – all good signs for the future of the tourism industry. And of course, the Orange County Convention Center, the second-largest convention center in the country, continues to bring in thousands of business tourists each year.
Drawn to this combination of established and growing tourist infrastructure, investors are clamoring for Orlando short-term rentals. They make great hybrid investments, letting owners use them as a second home when they visit Orlando, and rent them out the rest of the year.
“We haven’t seen high occupancy rates like this in our vacation homes since December 2019,” says Tiago Ferreira, broker at Orlando Homes for Sale group and Owner of Orlando Vacation Rentals. “April, which is still considered spring break season, and summer (June, July, and August) have many reservations in place already, and it looks like 2021 will be a prosperous year for short-term rental owners.”
Of course, short-term rentals aren’t the only kind of real estate heating up. With great weather, a high quality of life, and no state income tax, Florida is growing by a thousand people a day. And many are settling in Orlando, where jobs are concentrated. Moreover, news6 reports that as vaccines roll out, even more jobs will be made available throughout the state – meaning plenty of appreciation for residential real estate.
So, whether you’re looking for a place to live, invest, or both, Orlando in 2021 is the place and time to do it. And Orlando Homes for Sale is the team to help. We’re area experts specialized in Orlando short-term rentals, with an in-house booking agency serving over 100 properties. Contact our team today to find the short-term rental or residential home you’ve been dreaming of.
Company: Orlando Homes For Sale
Brokerage: Authentic Real Estate Team
Phone: +1 (407) 440 1010
Address: 7380 Sand Lake Road, Suite 500, Orlando, FL 32819