Comments on: The Miami Rental Market is HOT! http://www.miamism.com/the-miami-rental-market-is-hot/ miami beach real estate Sun, 12 Feb 2012 03:36:18 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Ines Hegedus-Garcia http://www.miamism.com/the-miami-rental-market-is-hot/comment-page-1/#comment-130 Ines Hegedus-Garcia Wed, 28 Jan 2009 06:42:00 +0000 http://miamitropolis.com/?p=708#comment-130 Michael - thanks for the feedback but things have definitely changed since August 2007 when this article was written. We deal with 2 types of rentals now - single-family homes and condos. You are right about the large nuber of new condos available where owners want to cover expenses and thus rental rates have competition. On the other hand, the single-family rental market remains just as HOT or even HOTER than a year ago - they fly off the market, and get good money since the inventory stays low. We also see a lot of people in foreclosure that try to rent and can't qualify when a credit report is pulled because of their foreclosure history. It's not easy, but the changes in the rental market are a sure sign of what's to come. Michael – thanks for the feedback but things have definitely changed since August 2007 when this article was written. We deal with 2 types of rentals now – single-family homes and condos.

You are right about the large nuber of new condos available where owners want to cover expenses and thus rental rates have competition.

On the other hand, the single-family rental market remains just as HOT or even HOTER than a year ago – they fly off the market, and get good money since the inventory stays low.

We also see a lot of people in foreclosure that try to rent and can’t qualify when a credit report is pulled because of their foreclosure history.

It’s not easy, but the changes in the rental market are a sure sign of what’s to come.

]]> By: Michael http://www.miamism.com/the-miami-rental-market-is-hot/comment-page-1/#comment-129 Michael Wed, 28 Jan 2009 06:41:27 +0000 http://miamitropolis.com/?p=708#comment-129 The rental market in Miami is on fire. That does not mean the rent rates are going up, it means that there is a flood of Premium rentals as they are individually owned condos just closed on and the owners want to mitigate expense of carrying costs so they rent. Additionally a few other factors make South Florida good rental market. 1. Florida is a transient state. Always has been, always will be. 2. Forclosures are at an all time high. People still need a roof over their heads. They move out of homes they cant afford and rent something else. I hope this helps Michael The rental market in Miami is on fire. That does not mean the rent rates are going up, it means that there is a flood of Premium rentals as they are individually owned condos just closed on and the owners want to mitigate expense of carrying costs so they rent. Additionally a few other factors make South Florida good rental market.

1. Florida is a transient state. Always has been, always will be.

2. Forclosures are at an all time high. People still need a roof over their heads. They move out of homes they cant afford and rent something else.

I hope this helps

Michael

]]>