Off-Property Condo Rental

[DisneyFan1979]

I've decided that I love Disney so much, that I'd like to consider buying a vacation condo in the area. I'd love to hear of off-property condo rentals you've stayed at and liked or disliked.

[dnickels]

Living down there (most of the year anyway) and knowing some people who have owned vacation rentals and knowing the area just a few FWIWs to consider....

1. The real market for vacation rentals are bigger homes with private pools/spas. People can get a hotel room with a pool and hot tub and a hot breakfast in the morning for $70-90 a night, even on Disney property with discounts. When that's available it's tough to get those people to rent a condo where they don't get breakfast, don't have a private pool and will have to pay $15 to park when they go to Disney.

2. Do the math, but once you factor in taxes (higher since it won't be a primary residence), insurance, utilities and management fees, maintenance (renters WILL break and/or steal things, demand refunds when the WIFI is out for part of their stay, etc.), people almost always come out ahead by foregoing the purchase and using the $$ they would have otherwise spent on the above items for hotel rooms over the years.

3. All cash or will you have to finance the deal? If you have to finance it then #2 above applies even moreso.

4. If you're looking at the condo as a potential retirement location down the line, keep in mind that most 'good' areas to live in don't allow short term vacation rentals for a reason. The areas that do allow short term rentals aren't going to show up on the list of places that anyone who's spent some time down here would want to live.

Do your own due diligence of course, but if any of my friends or family said they were considering buying a condo rental near Disney I'd tell them they were making a poor financial decision.

[DisneyFan1979]

Thanks for your comments dnickels; appreciate hearing from someone who lives in the area. This property would mostly be for me and family to stay in when vacationing and visiting area relatives and to rent to family and friends. Living in Massachusetts I am priced out of the vacation property market in the seaside areas of New England so my favorite vacation destination is the next best thing.