Anyone have property rentals in Poinciana, FL? What's it like?

[Catherine Underwood]

I live outside of Flordia, and am thinking of investing in a Duplex in the Poinciana area, especially around Palmetto St. (I am no stranger to being a landlord, so I know what I am getting myself in for).

I spent a few days in the area speaking to neighbors as well as property management companies and they all have positive things to say. Working with a realtor, I managed to find a relatively new duplex that is reasonably priced and close to schools and hospitals near Palmetto St.

However, when I go online and ask people what it's like to live there, the opinions given are discouraging. No one seems to say it explicitly, but there is a strong sense that all of Poinciana is a bad place, which is stopping me from making an offer on the property. I got that same sense when talking to management agents who don’t deal with Poinciana as well.

Does anyone have any rentals in Poinciana? What was your experience like. Thanks!

[Richard A.]

Our first tenant stayed about 7 years. They were tenants sent from heaven.

It took us another 6 weeks to get it rented again.

The renter pool was not great for our second tenant because it was off-peak (Jan-Feb). So we settled for a less-than-optimal applicant. The rent was late 25% of the time. They failed to disclose pets and later claimed the pets were "service animals". We did not renew their lease and they have vacated the property. Luckily, we requested double security deposit on the front end and it covered all of the necessary repairs.

Our property is over by Walnut & Country Club

A couple lessons learned:

* Don't relax your standards. We'd rather keep the property vacant than have to deal with a less-than-optimal tenant. That'll always cost more in the long run. If you do, get double deposit.

* Adjust the lease to end before peak-season. Leases do not have to be 12-months. All our current and future leases end around 31 May.