7 things to know about today, plus how Orlando fares for rental real estate investment
Orlando currently is the No. 6 best market for rental real estate investment in the Southeast and the No. 25 best market in the country as a whole,according to a recent report from All Property Management.
The best Southeast market is Raleigh, N.C., followed by Louisville, Ky.; Atlanta; Tampa; and Nashville. Miami came in at No. 8 in the Southeast, while Jacksonville came in at No. 12.
Other rental markets currently offering high returns on rental housing include San Francisco, Denver, Seattle, Austin and Minneapolis. Returns on rental housing investment currently are far better in the Western U.S. than in any other region; seven of the 10 highest-ranking markets in the Q1 2015 Rental Ranking Report are located there.
Last week, it was SeaWorld facing a lawsuit filed by Orange County Property Appraiser Rick Singh over a property value assessment. This week, Universal Orlando is suing Singh over the property value of its parking garages, the Orlando Sentinel reports. Universal contends Singh’s appraisal is too high and that it has been subject to “arbitrary and disparate treatment.” Singh says his office always goes back and forth with the larger theme parks, and it’s his job to defend the assessment.
Port Canaveral commissioners are expected to talk about a plan to spend up to $57 million for upgrades at two of the port’s older cruise terminals, Florida Today reports. By remodeling Cruise Terminals 5 and 10, the port could delay the need to start construction on a new cruise terminal. Under a preliminary timeline, upgrades on Terminal 5 would begin this summer and be completed in May 2016. Terminal 10 upgrades would begin in December ad be completed in November 2016. If the projects are OK’d on Wednesday, Port Canaveral CEO John Walsh said the earliest a new cruise terminal would be needed is 2018.
Being somewhat of a data nerd, I found this cool map from Broadviewnet.com that shows the largest companies in each state. Broadviewnet.com used data from Hoover’s to find each state’s top revenue-producing company. Some of the companies won’t surprise you — such as the fact that General Motors is the biggest company in Michigan — but others might.
Enterprise Florida is looking to lure Connecticut-based corporate headquarters to the Sunshine State. The Orlando-based economic development agency said Friday that it has taken out radio ads in Connecticut, promising a visit from Gov. Rick Scott. At issue is proposed budget hikes, which have drawn anger from Connecticut-based Aetna (NYSE: AET) and General Electric (NYSE: GE), both of which said they would consider moving their headquarters out of the state if the budget passes. “If you are a business that wants to pay less taxes so you can earn more money, come to Florida,” the Enterprise Florida ad says. “Florida Gov. Rick Scott is coming to Connecticut to share the Florida story of lower taxes and more jobs.”