Recently, an old apartment complex near downtown Orlando that underwent extensive renovations stands out. Built in the 1990s, after replacing kitchen appliances, windows, and air conditioning systems, it has started to be re-rented at prices not much different from new constructions. This case suggests that age alone does not easily distinguish between new and renovated properties.

When considering what to check, there are three main items to look at. First is the rental price, second is the management fees, and third is whether the area has a high supply of new constructions. When checking rental prices, it's important to consider that even for the same number of rooms, there can be significant variations depending on the area. When reviewing management fees, you should distinguish between items included in the rent and those billed separately, and when checking for new construction areas, it's good to look for any upcoming developments expected within the next year or two.

Starting with rental prices, the average rent for a one-bedroom in Orlando in 2026 is projected to be $1,409, while a two-bedroom is around $1,795. Overall, this reflects a decrease of about 2 percent compared to the previous year.

Nationally, it is often reported that new constructions have rental prices that are 10 to 20 percent higher than older properties. However, Orlando has seen a significant increase in new construction supply recently, which has somewhat narrowed this gap.

This downward trend is attributed to the increase in new constructions primarily around Lake Nona, Horizon West, and the surrounding areas. In new complexes near UCF, it is common to see move-in promotions offering one or two months of free rent.

From a management fee perspective, new constructions often have advantages. Apartments built within the last five years typically feature more energy-efficient air conditioning and appliances, which can lead to accumulated management costs in areas like Florida where cooling is used for extended periods. There is also a growing number of new constructions that include amenities like swimming pools, gyms, and pet playgrounds.

However, it is common for new condos or townhouses with many community facilities to have higher monthly management fees, known as HOA fees, compared to older properties. Even if the rent appears lower, it is important to check that the total costs, including management fees, do not end up being significantly different.

Another aspect to verify is the community facility usage fees. New complexes with amenities like pools or gyms often include these costs in the management fees, so if you do not use them frequently, older properties may actually be more cost-effective.

The construction warranty of new properties is also worth noting. For a certain period after construction, there is a warranty on the structure and facilities, which can alleviate concerns about major repair costs in the initial years. However, once this warranty expires, you will need to cover maintenance costs just like with older properties.

As seen in the remodeling case mentioned earlier, renovated older properties can maintain a spacious layout and established neighborhood feel while offering facilities close to those of new constructions. However, if the building has not been remodeled, it is important to check for potential upcoming major repairs, such as plumbing or roofing issues.

For families looking for preferred school districts, neighborhoods in southwest Orlando with a higher proportion of older properties are worth considering. School district boundaries change frequently, so while it is good to refer to GreatSchools ratings, it is advisable to verify the assigned school for the specific address before signing a lease.

If you are moving to Orlando from another state, it is best not to estimate Florida's unique hurricane insurance rates and property tax structure based on your previous state. Tax rates and insurance premiums can vary by county, so it is better to check in advance.

In summary, Orlando presents a market where the management fee efficiency of new constructions and the practicality of renovated older properties are closely matched. Evaluating the three key items—rental prices, management fees, and the presence of new construction supply—seems to be a realistic choice. This article does not constitute investment or legal advice, and it is recommended to consult with a professional before making any actual agreements.