The Apopka Orlando Airport (X04) is one of the few airports anywhere in the country that offers hangar ownership. That includes not only the hangar but also the land. Most airports only rent hangars for a given number of years. When you buy a hangar at Apopka Orlando Airport you get full rights to build your own hangar and to own your property. Is this wise, however? You may wonder, why not just rent a hangar? Renting a hangar is indeed a good idea for the short-term protection for your aircraft.
That said, if you are planning to own an aircraft for many years to come, the best way to guarantee yourself a hangar is to buy one yourself. Most airports have long waiting lists for hangars. Furthermore, you don't have much protection in case the hangar you are using is sold, traded or inhabited by the owner-that means your aircraft is suddenly homeless. Industry trends show there is a shortage of hangars and this trend is getting progressively worse. The General Aviation Manufacturers Association stated that shipments of general aviation aircraft were up 19.1% with 1,843 aircraft being delivered. This number does not come anywhere close to matching how many hangars are being built in the country, let alone in the Orlando, Florida area. Not only is there a lack of hangars available, there is also said to be a lack of available land, and a lack of new airports being developed.
How does this involve the Apopka Orlando Airport? First realize that most airports do not allow land ownership, most likely because they are on government land and cannot or will choose not to sell the land with the hangar. What they usually do is lease the hand for about 20-50 years. After that period of time, the land and the hangars revert back to the property of the airport. Therefore, leasers will pay a typical round lease payment for a small hangar for a few thousand dollars per year. You may have the option of renegotiating with the airport manager. Unfortunately, you have no guarantee that your lease will be renewed, and even if that department is willing to listen you still may have to pay extra for the opportunity to renew the lease.
Wait a minute-what government agency would refuse the chance to get a guaranteed income stream for several decades more and heavy cash incentives? Don't worry about the airport. Hangars are always in demand and they will have their choice of who gets the next contract. You may have protection against the weather but not against cost inflation!
The fact of the matter is that hangars will never lose their value. If you rent, you run the risk of not being able to find a rental in time, and having to let your aircraft stay outside for weeks on end. Even in the worst-case scenario, that you have no aircraft to store, you will have no problem finding eager clientele that want to pay you income for storage. The time to buy a hangar is now! Continue reading at www.OrlandoApopkaAirport.com for more information. Call Shana Larson at PrimeSource Real Estate today! 407-461-4188 and visit her at www.PrimeSource.net
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