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Orlando Rental Property - A Guide to Orlando Rental Property

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Orlando rental property is divided into two categories: renting from a big apartment complex or renting from an individual. There are plusses and minuses to each type of rental property. It is also important to decide where you want to live. Orlando is a spread-out city and traffic getting across town on I-4 can be a nightmare during rush hour. It is best to choose a rental property near where you will be working in Orlando.

Neighborhoods:
There are several desirable neighborhoods to look for rental property in Orlando. Winter Park, Baldwin Park and College Park are a couple of the more centrally-located, highly desirable neighborhoods in Orlando. Winter Park and College Park are great places to find individually owned rental properties. Orlando’s College Park is a good place to find homes for rent, while Winter Park has quite a few smaller, quieter apartment buildings. One only has to drive around these areas to find many “for rent” signs. Orlando’s Baldwin Park is a newer development, built on top of the old Navy base. Rent prices here might be more expensive because the buildings are newer. Winter Park has rental properties for as little as $600 per month for a small one-bedroom. You could pay about $800 for the same size apartment in Baldwin Park. Homes for rent in College Park will be more than $1000 per month.

Downtown Orlando has rental properties, mostly condos, for a higher price. Expect to pay at least $900 a month even for a 600 square foot studio at high rises like 55 West.

Some of the further-flung neighborhoods offer better deals for Orlando rental property. Apopka and Maitland are bedroom communities that offer cheaper rents for a little bit of a drive into the city. On the west-side of town (closer to Disney) you can search in the Millenia and Lake Buena Vista areas. Millenia is the area around the big luxury mall, but be careful about rental property here… there are less-desirable areas just a couple streets away from some of the more popular apartment complexes and crime is sometimes an issue.

Apartment Complexes vs. Individually Owned Rental Property:
Depending on what you need from your Orlando rental property, you need to consider if you want to live in a big apartment complex or in an individually owned rental property.

Orlando apartment complexes, like those offered by ZOM USA and other rental agencies, draw people in with specials and amenities. Amenities commonly include pools, internet, security and work-out facilities. Because there are so many units available for rent, the rental agency will sometimes offer reduced deposits and free rent in order to lure people into signing leases. But be careful, these leases are iron-clad. If you need to get out of the lease for any reason they will make you pay through the nose, and have no qualms about turning the debt over to collections if you don’t pay. When you leave the apartment, it is common to be hit with fees to replace carpet and window treatments that eat up your deposit. Unless you leave the place completely spotless, you will likely not get your deposit back.

Renting from individuals in Orlando can be cheaper. You will likely be renting in a smaller building or home, and have more privacy. Individual landlords are often easier to deal with if you need to break the lease or if you have a special request. However, you will be giving up amenities offered at some other Orlando rental properties in big apartment complexes.

Renting an Orlando condo may be a good compromise. Many condos were built throughout Orlando during the construction boom of the late 2000’s. Some people are renting those condos instead of trying to sell them for a loss. Renting from a condo owner could give you all the amenities of a big apartment complex with the flexibility of a landlord-owner.

Orlando rental property is easy to come by as long as you know what you are looking for. The results of many searches can be overwhelming, so it is important to figure out what part of Orlando you want to find a rental property first, and then the type of rental property you are looking for in Orlando next, before you start any search.

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