Encore Resort at Reunion

Yes, and this is one of the clearest STR approvals in the Orlando market. Encore was purpose-built by Lennar as a vacation rental resort. The community is zoned STRPD (Short Term Rental Planned Development) in Osceola County, so the land-use approval is already built into the development entitlement. There is no minimum stay requirement at the HOA level — the resort allows 1-night guest bookings. Owners can rent for any portion of the year with no annual rental cap. You will need an individual Osceola County STR license (~$160 inspection fee plus annual renewal), which is an operating license rather than a use variance — a materially lower regulatory hurdle. The dual-HOA structure (Encore sub-association plus Reunion master POA) is the main administrative complexity; confirm both fee amounts at time of purchase as they are subject to board adjustment.

Gross yields vary significantly by home size. At the 4-6 bedroom tier (buy-in $537K-$800K), documented 2024 gross revenue runs approximately $50,000-$80,000, implying gross yields of roughly 7-10%. At the 8-13 bedroom tier (buy-in $900K-$1.5M), well-managed homes targeting large groups at $500-$1,200/night peak can gross $90,000-$150,000+, implying gross yields of 8-12%. Net yields are materially lower after accounting for: management fees (20-30% of gross), dual HOA dues (~$6,000+/year combined), property insurance ($8,000-$12,000/year for a hurricane-zone luxury home), Osceola Tourist Development Tax (6%) plus Florida sales tax (6%) collected from guests, and ongoing maintenance reserves. A conservative net yield assumption is 4-6% on purchase price. These are estimates based on available market data — not projections or guarantees.

Several PM companies actively manage Encore properties. Rentyl Resorts is the on-site preferred partner with the deepest integration into the resort amenity and check-in system. Other active managers include Master Vacation Homes, Jeeves Florida Rentals, RBR Vacation Homes, Intteli Vacation Homes, and Go Vacation Home Management. Full-service management fees at this luxury tier typically run 20-30% of gross rental revenue. Some owners split the arrangement: using the on-site Rentyl system for check-in and amenity access while contracting a third-party manager for booking optimization and guest communication. Confirm current fee structures and contract terms directly with each manager — rates and included services vary.

These three communities serve adjacent but distinct market segments. Encore is the premium-group play: larger homes (up to 13 bedrooms), higher nightly rates ($350-$1,200+), higher buy-in ($537K-$1.5M), and the highest HOA costs of the three. The water park and concierge infrastructure let Encore capture large-group, multi-generational guests who pay a premium for the resort experience. Champions Gate skews smaller — 4-9 bedroom townhomes and homes at lower price points ($350K-$650K) with strong occupancy driven by value-seeking family groups; HOA is lower but the community is more competitive on a per-bedroom basis. Storey Lake offers a middle path with resort amenities, lower price points, and one of the highest occupancy rates in the corridor but smaller average home sizes. Encore wins on nightly rate ceiling; Storey Lake often wins on occupancy rate; Champions Gate wins on entry price and per-square-foot acquisition cost.

Encore Resort is effectively 100% investor-owned — the community was not designed for primary residence and nearly all homes are actively marketed as vacation rentals on Airbnb, VRBO, and Booking.com. This is a feature for STR investors (no neighbor disputes over rental activity, no political pressure from primary residents to restrict rentals) but worth understanding upfront: the community has resort-level amenity infrastructure but does not function as a traditional residential neighborhood. Owners who visit personally are guests in their own resort.