View Full Version : What do you look for when renting?
Hi all,
Just wanted to know what is the most important to you when you book a villa in Orlando.
DOM
has to be the price for me as i think most of the villas in orlando are equally nice so the price is what sways it(and location)
I would say neatness and above all CLEAN.The price is also a factor and cheap does not always mean poor quality.
Sorry, gotta disagree! Cheap usually does mean poor quality as the owners won't be receiving enough income to keep the place well maintained, buying replacements and improving the home.
<blockquote id="quote" class="ffs">quote:Originally posted by blott
Sorry, gotta disagree! Cheap usually does mean poor quality as the owners won't be receiving enough income to keep the place well maintained, buying replacements and improving the home.
[/quote]
I agree with you to a certain degree where one pays for what they get.. but surely villas of similar size ie same number of bedrooms etc would be priced within a certain band..otherwise competition fails
chrizzy100
11-07-2004, 04:36
furniture is my big thing every time......I look at the master bedroom first......then the living rooms.....then the twin rooms.....I find some twin rooms look a bit hotel like......so if someones gone the extra miles in those rooms..its a winner....
This is our first time in choosing a villa and actually selected one from this site to suit the needs of all our group, ie considered 1x registered disabled 3x pensioners and all the others just kids at heart:D:D:D
Sorry Blott usually I would not dare to disagree with you, you are after all a wealth of knoweldge but the villa we are renting is a reasonable price, ie a lot cheaper than most and this will be the second year we have rented from them, they have all the usual ammenities the pool is heated all winter inclusive of the price and the villa management company is great.
I know you are biased because you rent a villa but you really shouldn't group things under one heading.
Sometimes because a villa is cheaper they can generate enough income with the fact that they are always booked I know we had to book ours 2 years in advance because they are always so full up apart from a couple of weeks I know they use for themselves they are always full and the guest book shows how much other people apart from ourselves think of the villa from the comments in there.
I will still look at other villas but if I can get this one each year I will be more than happy.
Sarah
floridadreamvilla.co.uk
11-07-2004, 19:34
I'd disagree with this. The more a villa is booked the more things have to be replaced / updated more often. This costs more money.
We rent our 3 bed out for 51 weeks a year every year (the 52nd week is made up of a day here, a day there between bookings) and have relatively high prices which reflect what we hope is the standard of the villa and the facilities it provides. We make a *very* minimal profit as anything we make gets immediately re-invested in the villa to keep the place up to the standard we require.
If we were charging much lower rates (like some owners do) then we would not be able to do this and would have to put a substantial amount of our own money into the house just to keep it ticking over and acceptable to guests, let alone keeping it to the high standard we do.
<blockquote id="quote" class="ffs">quote:Originally posted by sarahjk
Sometimes because a villa is cheaper they can generate enough income with the fact that they are always booked[/quote]
chrizzy100
11-07-2004, 19:58
I think the prices of all the Orlando homes are good value......you can't get a garden shed here for the rates most people charge in FL.....
I passed the rental home up the road......and the renters in there now were lucky enough to get the grass cut........and its renting out at $1800 a week this month.....
I agree Chrissy I do think that the villas in Orlando are good value and I am not saying that some are priced to high, John, all I was saying was that Blott shouldn't tar all cheaper villas with the same brush I have priced up some places other than Orlando such as California and others and can safely say that from the ones I priced up Orlando is CHEAP compared to them I think that some villas are priced up higher than others but that is why it is best too look around because there is something for every taste and we are not looking for a playstation in each room and games room just a good selection of TV channels heated pool in the winter and DVD player. We get a TV in each room as well but to tell you the truth we never use them far too much for us to do
Didn't mean to offend[msnembarrased]
Sarah
floridadreamvilla.co.uk
11-07-2004, 21:49
You did not offend - don't worry. I was just trying to point out that most owners do not make any money out of owning a villa and the ones that are priced higher are like that for a reason and not because the owner is making massive profits off the extra money they charge.
<blockquote id="quote" class="ffs">quote:Originally posted by sarahjk
I agree Chrissy I do think that the villas in Orlando are good value and I am not saying that some are priced to high, John, all I was saying was that Blott shouldn't tar all cheaper villas with the same brush I have priced up some places other than Orlando such as California and others and can safely say that from the ones I priced up Orlando is CHEAP compared to them I think that some villas are priced up higher than others but that is why it is best too look around because there is something for every taste and we are not looking for a playstation in each room and games room just a good selection of TV channels heated pool in the winter and DVD player. We get a TV in each room as well but to tell you the truth we never use them far too much for us to do
Didn't mean to offend
Sarah[msnembarrased]
[/quote]
Blott. If an owner has no mortgage then the only expences would be the rates,water, electric etc. They could then charge a lot less than people with a morgage and still offer the same product and invest on improvements. They may only want to cover there lower outgoings.<blockquote id="quote" class="ffs">quote:Originally posted by blott
Sorry, gotta disagree! Cheap usually does mean poor quality as the owners won't be receiving enough income to keep the place well maintained, buying replacements and improving the home.
[/quote]
huckleberry house
12-07-2004, 00:13
<blockquote id="quote" class="ffs">quote:Originally posted by george
Blott. If an owner has no morgage then the only expences would be the rates,water, electric etc. They could then charge a lot less than people with a morgage and still offer the same product and invest on improvements. They may only want to cover there lower outgoings.<blockquote id="quote" class="ffs">quote:Originally posted by blott
Sorry, gotta disagree! Cheap usually does mean poor quality as the owners won't be receiving enough income to keep the place well maintained, buying replacements and improving the home.
[/quote]
[/quote]
Having a mortgage or not having one shouldnt make any difference to the asking price for the home though. That would just be leaving money on the table if the rates achieved could be higher and the home is rented at less than market price.Most products made in business sell for much more than the costs, a CD could be sold for 50p but it doesnt becuase people will pay more. If an owner is foolish enough to rent for less than the cost that could be achieved then not only are they hurting their own pocket but they also serve to devalue the market and attract a different sort of guest than homes which charge a decent rent and can afford to maintain higher standards.
Lesley
Foolish or not (and I agree with you) there will be people who charge less but still offer a great product. We are all guilty of presumption.
chrizzy100
12-07-2004, 02:05
<blockquote id="quote" class="ffs">quote:Originally posted by george
Folish or not (and I agree with you) there will be people who charge less but still offer a great product. We are all guilty of presumption.
[/quote]
I would of gone ahead and rented cheaper because I have a very small home loan.....but mostly I think thats because new owners know no better when they first start....and make big booboos.....its not because they don't have a good product.....when you think about it....why should you rent cheaper because you have no loan.....rent for the same as everyone else and spend the extra money on making your house very rentable.....with all those extras people with a large home loan may not have....thats how I feel now after reading post from long time owners here......maybe I got it wrong again....but rental prices are very cheap as it it in Orlando.....its in no-ones interest to make them any lower.....just my 2 cents....
<blockquote id="quote" class="ffs">quote:Originally posted by george
Blott. If an owner has no morgage then the only expences would be the rates,water, electric etc. They could then charge a lot less than people with a morgage and still offer the same product and invest on improvements. They may only want to cover there lower outgoings.<blockquote id="quote" class="ffs">quote:Originally posted by blott
Sorry, gotta disagree! Cheap usually does mean poor quality as the owners won't be receiving enough income to keep the place well maintained, buying replacements and improving the home.
[/quote]
[/quote]Sorry, I don't agree with that either! You have to take into account the capital investment so, if a home owner has no mortgage, then their capital investment is enormous (particularly with today's purchase prices). If the owners are just charging a rental that covers their utility bills, then they're not getting any return on their capital (I bet all of our guests have at least a savings account and get interest on their capital) and have nothing over to cover maintenance, repairs or improvements.
For instance, in a simple example, our pool timer has packed up. It's costing $875 to get a new one. If I were charging rental that just covered our utility bills, where would the money come from to pay for a new pool timer? In your scenario, I can't take it out of the rental money as that just covers the utilities. So, my only alternative is to pay it out of my pocket. So, not only would I not be receiving a return on my capital investment, I would also be paying out my own money. That would be financial disaster as I would then be paying for other people to have holidays in my home.
Every penny/cent (and more) is ploughed/plowed back into our home to keep it looking how we would wish it to be for our guests, to keep it well maintained, effect any repairs that are required (ie the pool timer at the moment) and make an ongoing round of replacements that we think are required or necessary. Our rental rates are currently very competitive (but they're not 'cheap' but neither are they 'dear') and we manage our home on this level without skimping on anything but, at the same time, not making a 'profit'. When I think what a similar home would rent for in other places like Spain, I sometimes think we must be mad!
Blott
I did say 'etc etc' in my original posting. No one in their wright mind would estimate there rental down to the last penny without having some fat on the bone to undertake improvements and repairs. Profit does not have to come out of the rentals what about the increasing value of the property? that is where true 'profit' is to be found.
Er, any increasing value of the property doesn't arrive in your pocket until you sell it George! And what would this be if the property prices slumped as they did here in 1990s? [msnwink]
Most will sell at some time to either take the profits of re invest in other property. Some may use the added value in their property to by another without selling the original. It is the same the world over. No secret just the facts of property ownership.
floridadreamvilla.co.uk
12-07-2004, 13:14
But how would that help fund the ongoing bills that occur from time to time occur when actually OWNING a villa - or am I missing something [msnscared]
<blockquote id="quote" class="ffs">quote:Originally posted by george
Most will sell at some time to either take the profits of re invest in other property. Some may use the added value in their property to by another without selling the original. It is the same the world over. No secret just the facts of property ownership.
[/quote]
No John, I must be missing the point by not explaining well enough, even though I thought I had! [msnscared]. I won't continue on this thread as it will stray from the original topic question.
sandra777
13-07-2004, 17:08
A lower rental charge does not necessarily mean an inferior product because owners personal circumstances are all different and not all of us have mortgages. However,I would not charge less than the guests are prepared to pay because to do so is to throw hard earned money away. Villas in Orlando are already very good value and the variety of interests and activities catered for in Florida is way ahead of anywhere else on the planet[msnsmile]. Bear in mind that the price PER PERSON for renting our villas is around $20 a night. So we're already providing a four or five star product for a one star price.