Turning your Orlando or Central Florida home into a rental investment property is one of the most effective ways to build passive income, grow long-term wealth, and maximize the return on your real estate asset. Whether you’re relocating, upgrading to a new home, or simply ready to step into the world of real estate investing, your primary residence can become a profitable long-term rental with the right strategy and guidance.
As a leading professional property management company in Orlando, we’ve helped hundreds of landlords, homeowners, and real estate investors successfully lease and manage their properties, transforming both investment rentals and primary homes into profitable long-term assets.
In this guide, we’re not just giving you the steps. We’re sharing real stories, local case studies, and expert property manager insights from years of managing hundreds of properties across the greater Orlando area.
Why is Orlando One of the Best Places to Own a Rental Property?
Orlando, Florida, stands out as one of the best cities to buy a rental property and for rental property owners because it’s growing faster than almost any other major metro in the U.S. According to The Orlando Economic Partnership, the greater Orlando area is the nation’s fastest-growing large region. “Orlando is now the 20th most populous region in the U.S – a major milestone for the region as it continues to emerge on both the domestic and global scene.”
Here are some of the top reasons Orlando is one of the best rental markets to own and buy a rental property:
- Strong Renter Demand
- Solid Job Market & Growing Population
- Average rent in Orlando is currently around $1,802/month.
- Florida Landlord-Friendly Laws
- Lower Entry Costs Compared to Other Major Metros
- Expanding Infrastructure and Development
Here at The Listing Real Estate Management, we see it every day and believe the Orlando rental market is one of the best in the country. We love to see our current and new rental owners benefit from such a great market.
A Real Property Management Client Success Story
One of our clients, Preston, a new real estate investor, purchased his first two rental properties, and he quickly realized how important the right property management partner would be. His initial manager struggled to lease his home, leaving his investment vacant for months. Wanting better communication, stronger marketing, and a more proactive approach, Preston made the switch to The Listing Real Estate Management.
Once we began managing the property:
- We rented his properties in under 30 Days
- Receives $4,045 per month in rental income between the two properties
According to Preston:
“They’ve kept my properties occupied, handled everything professionally, and given me the peace of mind to grow my portfolio.”
Today, Preston enjoys high occupancy, reliable management, and the confidence to continue investing, proving how the right team can transform an investor’s experience.
STEP 1: Confirm You’re Allowed to Rent Out Your Home in Orlando
In the state of Florida, lenders and HOA communities may have specific requirements, such as length of occupancy or approval processes that homeowners must follow before renting out their property.
Your Mortgage
Many homeowners don’t know their loan may require:
- At least 12 months of owner-occupancy
- A formal notification to convert to a rental
- Additional insurance coverage
Most lenders approve long-term residential rentals, but always check first.
Your HOA or Condo Association
The greater Orlando and Central Florida area has thousands of communities with:
- Rental caps
- Minimum lease lengths
- Registration requirements
- Background check rules
Real Life Example:
A rental property owner/investor came to us after he bought a townhome in Winter Garden, Florida, as an investment property. (purchased through an outside agent not associated with The Listing Real Estate Management) He planned to rent it out immediately after closing on the property, only to discover the HOA required two full years of owner occupancy before leasing was allowed. This is a prime example of checking rules and regulations and working with a professional versed in property management and investment properties.
STEP 2: Run the Numbers to See if Your Orlando Property Will Cash Flow
Turning your home into a rental should always be a financial decision, not an emotional one. Before moving forward, take time to calculate your full monthly expenses.
Calculate the following to determine if your property will cashflow or even break even:
- Mortgage
- Property taxes
- Landlord insurance
- HOA fees (if any)
- Routine maintenance costs
- Vacancy costs
- Orlando Property management fees and costs
- Market rent for comparable Orlando homes
Compare potential rental income vs. rental property expenses to confirm if your property will cash flow and the long-term investment potential.
Local Case Study: A Duplex in Casselberry, FL (Orlando):
The owner assumed that renting his duplex wouldn’t be profitable because he had no prior experience. At the time, he was living in one of the units and was renting the other unit as a short-term rental property. After our evaluation and professional property management, here’s what we found:
- His total monthly expenses: $2,250
- Market rent: $1,500 (x2) = $3,000
- Net cash flow: $750/month
After finding and placing quality tenants for both of his rental units, he cash flows $750/mth while also benefiting from property appreciation and mortgage paydown.
STEP 3: Switch to Landlord Insurance
Your existing homeowner’s insurance does not protect you when a tenant occupies your home, which is why landlord insurance is a MUST. Landlord insurance coverage protects you from:
- Tenant-caused damage
- Loss of rent
- Liability claims
- Structural damage
As an Orlando property management team, we’ve seen it all, and landlord insurance is a must to help protect you and your rental investment property.
STEP 4: Get Your Orlando Property Rent-Ready
Preparing your Orlando home for the rental market is a critical step in protecting your investment and finding high-quality tenants. Start by ensuring the property meets all Florida and Orange County safety requirements, including working smoke detectors, secure locks, and adequately maintained HVAC systems, critical in Central Florida’s year-round heat. Address any deferred maintenance, refresh interior paint with neutral colors, and ensure that flooring, appliances, and fixtures are clean and in good working order.
In a competitive Orlando rental market, curb appeal also matters. Simple upgrades like landscaping, pressure washing, and exterior touch-ups can significantly impact rental demand and pricing. A rent-ready property not only leases faster in the Orlando market but also helps maximize monthly rental income and reduce long-term maintenance issues.
Pro Tips From Our Expert Orlando Property Managers
Investing $300–$500 in minor improvements, such as fresh paint, updated lighting, and landscaping cleanup, often increases rent by $75–$150/month.
One of our rental owners in Winter Park, Florida, added $480/year in cash flow simply by repainting and replacing the flooring in the rental property.
STEP 5: Advertise Your Orlando Rental Property
Effective rental property marketing is essential to leasing your Orlando rental property quickly and getting a top-dollar rental rate. Professional photography, compelling property descriptions, and accurate pricing based on Orlando rental market data help your listing stand out in a crowded landscape.
Your rental property should be advertised across rental platforms tenants use, such as Zillow and Realtor.com, Orlando rental networks, and targeted digital marketing channels to reach qualified tenants actively searching in neighborhoods like Lake Nona, Winter Park, Windermere, and Lake Mary. Showcasing features such as proximity to major employers, theme parks, schools, and commuter routes adds strong local appeal. A strategic, data-driven marketing approach not only reduces vacancy time but also attracts higher-quality tenants, helping protect your Orlando investment in the long term.
STEP 6: Screen Tenants Thoroughly (This Is Where Most Owners Fail)
Tenant screening is one of the MOST important steps in protecting your Orlando rental investment. Yet, it’s where many landlords and self-managing rental owners cut corners and expose themselves to unnecessary risk. A professional tenant screening process should include the following:
- Credit History Verification: Review credit score, payment trends, collections, bankruptcies, and overall financial responsibility.
- Income & Employment Verification: Confirm verifiable income of at least 2.5–3x the monthly rent and validate current employment, job stability, and length of employment.
- Criminal Background Check: Screen criminal history in full compliance with Fair Housing and Florida laws.
- Rental History Verification: Contact prior landlords to identify how they were as tenants. As a professional property management provider, this is the most important thing to check and double-check.
- Nationwide Eviction Search: Check for past evictions filed in Florida and nationwide.
- Application Accuracy: Ensure all information is complete, accurate, and consistent across submitted documents.
Real Life Story:
A self-managing rental owner in Oviedo, FL, came to us after suffering $18,000 in unpaid rent and property damage.
He tried to save a few bucks by finding tenants and managing the property himself. Long story short, the owner skipped any tenant screening and placed unqualified tenants. Once his new tenants moved in, they stopped paying rent, had to evict them, and caused thousands of dollars in property damage. He learned his lesson and turned to hiring a professional Orlando property manager, and ever since, his property has been generating consistent rental income.
STEP 7: Use a Legally Compliant Florida Lease
Make sure you have a solid, legally compliant Florida lease agreement in place before renting out your Orlando property. Your lease agreement should comply with Florida Statutes Chapter 83 and clearly outline rent terms, security deposit handling, maintenance responsibilities, occupancy limits, and property-specific rules.
Here are our top 10 terms every Florida lease agreement should include:
- Names of All Tenants: List and require signatures from all adult occupants (18+) to ensure full legal responsibility under the lease.
- Rent Amount & Due Date: Clearly state the monthly rent, due date, payment method, payment location, and any late fees.
- Lease Start & Lease-End Dates: Define the official move-in date and lease expiration date, including renewal terms if applicable.
- Security Deposit Amount: Specify the total security deposit held, how it’s stored, and the conditions under which deductions may be made.
- What Is Included in the Rent: Clarify which utilities, services, and appliances are included, or designate the tenant’s responsibilities.
- Pet Policy: Outline whether pets are allowed, restrictions, fees, deposits, and penalties for unauthorized pets.
- Rules of Tenancy: Establish property rules, such as noise limits, smoking restrictions, prohibitions on illegal activity, and required addendums.
- Repairs and Maintenance Responsibilities: Define landlord vs. tenant maintenance duties, damage liability, and restrictions on alterations or repairs.
- Right of Entry: State the landlord’s right to access the property, required notice periods, and conditions for entry or property showings.
- Lease Break or Lease Default Terms: Clearly explain penalties, fees, and tenant obligations if the lease is terminated early or defaulted on.
STEP 8: Decide Whether to Self-Manage or Hire a Property Manager in Orlando
Deciding whether to self-manage your Orlando rental property or hire a professional property manager is a key step that affects both profitability and your peace of mind. Follow our guide below to decide if you are a DIY’er or if you should hire a professional:
Self-manage your Orlando rental property if you:
- Want hands-on control
- Own a single rental property (or a small portfolio) and want complete control
- Live locally in the Orlando area and can respond quickly to issues
- Have the time and availability to manage tenants, rent collection, showings, requests, maintenance scheduling, etc.
- Understand Florida landlord-tenant laws and fair housing requirements
- Want to reduce expenses and avoid property management fees
Hire a professional Orlando property manager if you:
- Own multiple rental properties or plan to grow your portfolio
- Live outside the Orlando/Central Florida area
- Don’t have the time to handle leasing, tenant screening, and day-to-day management
- Want expert knowledge of Florida landlord-tenant laws and local compliance
- Prefer professional marketing to reduce vacancy and attract quality tenants
- Need 24/7 maintenance coordination and emergency response
- Want consistent rent collection and enforcement of lease terms
- Value reduced stress and peace of mind while protecting your investment
Hiring a professional Orlando property manager allows you to maximize returns, minimize risk, and enjoy truly passive rental income.
Expert property manager insights: Madison Greenlee
“As a professional property manager in Orlando, I see rental owners succeed when they honestly assess their time, availability, and tolerance for risk before deciding to self-manage. If your goal is to grow your portfolio, protect your investment, enjoy true peace of mind, and passive income, hiring a local property manager delivers better long-term results than trying to do it all yourself.”
Turning Your Orlando Home Into a Rental is Smart
Turning your Orlando home into a rental is a wise financial decision in a high-demand rental market. With strong population growth and consistent tenant demand, converting your property into a rental can create reliable income while building long-term wealth. Orlando homeowners who rent their properties often benefit from both immediate cash flow and future appreciation.
Benefits of turning your Orlando home into a rental investment property:
- Steady rental income in a high-demand Orlando market
- Long-term property appreciation and equity growth
- Tax advantages, including deductions for repairs and depreciation
- Increased flexibility to hold or sell the property in the future
This strategic move allows you to maximize your home’s value while capitalizing on Orlando’s thriving rental market.
Want Professional Orlando Property Management Guidance?
Converting your Orlando home into a successful rental property involves a lot of time, effort, and experience. From preparing your property and setting the right rental price to marketing, tenant screening, lease compliance, and day-to-day operations, each step plays a critical role in protecting your investment and maximizing returns.
Working with a professional Orlando property management company like us here at The Listing Real Estate Management gives you access to local expertise, proven systems, and hands-on support designed to reduce risk, minimize vacancy, and simplify rental ownership. Contact Us today to learn more about converting your property or to request a Free Rental Price Analysis.
