Have you ever wanted to own a home in the Florida sun, use it as a vacation home, then have someone look after it while you’re not there, and maybe also earn some income on the property? Well a new resort from Feltrim Group; Balmoral at Water’s Edge offers you just that.
Balmoral is a 245 luxury home resort just south of Disney World Orlando that offers owners a wide range of resort style facilities at their door steps while giving owners the option to place their home in a rental program managed from the clubhouse of the development.
The Balmoral leaseback program offers buyers a rental contract promising a 6% NET rental return for up to three years. Costs such as property management, Home Owners Association (HOA) fees and property tax are all covered for the leaseback period. Owners also have the possibility to use the property for a limited period of time outside of peak seasons such as Christmas and Easter. But watch out as prices in Balmoral are set to increase by 10% during February. As an added benefit to those entering the leaseback program all homes will feature private pools and come fully furnished.
The concept of building a resort / development for the international buyer which allows the buyer to take advantage of the 60+ million tourists Orlando gets every year is a concept rooted in the first property experiences in Florida of Feltrim Group CEO Garrett Kenny; “I was living abroad in Ireland and actually just bought my first home in Florida as a vacation home. But I then saw that there was potential to rent it out to tourists for the time that I wasn’t there. It worked out very well, and the price on my home was rising, and so I introduced my contacts from Ireland to the market.”
But Kenny also noted an issue. “I was not getting the service in terms of property management and I thought the rentals were not handled well. So I then set up my own company in Orlando to more effectively do this, purely out of a sense if responsibility to those who I had introduced to the market. But the good thing was it turned out to be very successful. So then we branched into building our own resorts, to the point that we now offer overseas buyers a full one-stop-shop; where we build, we rent (both short and long term), and we sell.”
The Balmoral resort is the latest resort from Feltrim Group, following on from recent successes such as their Fountains and Tuscana resorts. Balmoral offers on-site facilities such as its own water park and resort pool, clubhouse with gym, restaurant and games room, playgrounds, mini golf, many parks and lakes and various other facilities for the holiday-maker.
Homes at Balmoral range from 3 bedrooms right up to 8 bedrooms, with many opulent layouts and facades. Prices in the development start at $289,000. “What we have tried to do at Balmoral”, says Kenny, “is to create the ultimate luxury vacation home that is fun to visit, but that can also work out as an investment”.
Balmoral is located approximately 25 minutes south of Walt Disney World and within easy reach of other popular attractions such as Universal, Sea World and a huge selection of golf courses. The development is in close proximity to Lego Land.