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Strategies of the Condo Vultures®

Capitalizing On The Real Estate Correction

By Peter Zalewski | Real Estate Pro in Miami, FL

Rental Rates Jump 9% In Greater Downtown Miami In 2011

The Greater Downtown Miami rental market is as active as it has ever been as tenants populate investor-owned units built during the South Florida real estate boom. 

Tenants leased nearly 4,900 condos, townhouses, and apartments in 2011, representing a nearly four percent increase on a year-over-year basis compared to 2010, according to a new report fromCondoVultures.com.  

At the current leasing activity, Greater Downtown Miami is facing a possible shortage of rental properties as the current available inventory has been chipped down to less than 60 days of available product, according to an analysis by the Rental Division of the licensed Florida brokerage Condo Vultures® Realty LLC. 

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