A new report from landlord-software TurboTenant is stating Orlando as the No. 1 place in Florida to buy a profitable rental property. The report says Orlando is one of the most lucrative areas in which to snag real estate and hike up monthly rental fees. Orlando made the list due to the city’s rapidly growing population and increases in home values.
TurboTent provides resources for future landlords looking to enter the real estate market or expand your portfolio and data to determine the best place to make a profit. TurboTenant’s report this month focuses on Florida, the third most populous state in the U.S. As of July 2019, the statistics on buying a rental property in Orlando show that population growth went up by 4.8 percent, and employment growth increased by 3.5 percent. Home values have also increased by 10.7 percent, with the median sale price being $254,000, according to the report. On average, rental properties get 34 leads and stay on the market for 19 days.
With stats like these, it’s no wonder Orlando is a goldmine for profit-seeking landlords.
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Photo Cred: TurboTent