Home Buying in Miami>Question Details

Pszuba, Home Buyer in Plymouth, MI

I'm considering buying an investment/rental property in Miami. What is the current demand for rentals there now?

Asked by Pszuba, Plymouth, MI Wed Mar 12, 2014

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0 votes Thank Flag Link Fri Apr 4, 2014
GIVE ME A CALL AT 786-247-7039
Flag Fri Apr 4, 2014
In my opinion, waterfront property is always in demand as an investment property and homes that are in close proximity to the beaches. However, it has come to my attention that many investment homes in lower rent to the more moderate neighborhoods are renting as quickly as they are listed.
These homes seem to be getting multiple offers and at the sellers asking price.
Hope this helps
Marty Kratish
Turnberry International Reality
(954) 520-4589
0 votes Thank Flag Link Fri Apr 4, 2014
Demand for rentals is pretty high, however, the values and the rent the market calls for differ from area to area, and sometimes from building to building. The main commodity in Miami is condos.

However, single family homes are popular as well - especially for people with dogs/pets and people with the credit history/background that disqualifies them from living in condos, as well as for people whose preference is to live on the land (and be allowed to bar-b-q, unlike in condos)...

Additionally, the property has to look good and be fixed up - this is what has been happening in the past few years: investors buying and fixing old properties. Original kitchens etc. do not pull in the higher rates any longer.

Some investors enjoy returns on the short term rentals in close to the beach locations (short term rentals).

Hope this helps,

Irina Karan
Beachfront Realty, Inc.
0 votes Thank Flag Link Thu Apr 3, 2014
im selling my both houses
0 votes Thank Flag Link Thu Apr 3, 2014
Flag Thu Apr 3, 2014
Hi Pszuba,

There is a high demand for rental condos in Miami right now. I'm a huge fan of the Brickell area, as it is growing rapidly and rental prices are starting to rise. It is within walking distance to to shops, stores and other venues. There are several buildings that still have great deals if you're interested. Call or email me for more information.

Jason Butler
Macken Realty
0 votes Thank Flag Link Tue Apr 1, 2014
Hello Pszuba,

On the following link http://www.gablesmarquis.com/available-condos-for-sale.htm you will find a project that a colleague of mine is in charge of. The prices are considerably low, in comparison to the Brickell area, but the rentability is the same, and you wouldn't have to worry about finding a tenant because most units are tenant occupy. Just to give you an idea, 1/1 Condo goes approximately for $424,000 and we rent it for $1,800 per month, leaving you with a 5-6%return.

If you like what you see let me know so I can send you a brochure.

Do not hesitate in contacting me via email or phone.

Looking forward to working with you,

Soleyl Colmenares - Realtor Associate
O 786 220 0022 | C 407 968 3482 | F 786 220 0055
4005 NW 114 Ave, Suite 16, Doral, FL 33178
Web | Facebook | Twitter | Skype: Soleyl.Colmenares
0 votes Thank Flag Link Wed Mar 12, 2014
We currently have some investment properties that are already rented, so you start making money immediately. If you want to take advantage just contact me at your earliest convenience.

Thank you
0 votes Thank Flag Link Wed Mar 12, 2014
Good afternoon,

There's heavy demand for rental properties in Miami. I'll be glad to help you. Please don't hesitate to call me or email me if I can assist you further.

Alberto Baca
The Keyes Company
0 votes Thank Flag Link Wed Mar 12, 2014
The demand for rentals is very high, all of the properties I have listed for rent in the past 12 months (except higher end) have leased in the first 2 - 3 weeks in the market, at the top of market value. We specialize on investment properties with a high rate of return, if you need my assistance please feel free to contact me via my profile. I can provide you with proven track record of sales and rentals at your request. Thank you.
0 votes Thank Flag Link Wed Mar 12, 2014
Demand for Rentals is high. An Investment Property is a good long term asset and management properly it will help create wealth.
0 votes Thank Flag Link Wed Mar 12, 2014
There are always going to be a demand for rentals throughout the country. The most important thing, finding the right investment. Balance the budget for income, repairs, and maintenance and make sure you are making the decision on the right property and the right location. Find a local agent with good recommendations and if you need to interview a few, that's ok too. Good luck!
0 votes Thank Flag Link Wed Mar 12, 2014
There is a great demand of rental properties at the moment because of Miami's pleasant weather. It would surely be a great investment. I would love to help you out with your new investment. Thank you for asking.
Cecilia Castillo
Realtor Associate
0 votes Thank Flag Link Wed Mar 12, 2014
Hi. There is a strong demand for rentals. There are many factors which keep rentals as the only option for many such as foreclosures, short sales, meeting mortgage financing requirements, relocation, temporary assignments, recent college graduates, etc.. Perhaps you can select few areas and narrow the search by the number of rentals available and type of property that meets your criteria. Some areas are saturated with rentals and some areas are in need of rental properties. Please feel free to contact me.

Jackie Nurse
First Service Realty
0 votes Thank Flag Link Wed Mar 12, 2014
To answer your question properly I would need some more information regarding what price range you want to pay, what investment return you are looking for, where do you want to purchase...Provide me with this information and I will be in a better position to assist you... Your questions is too general to answer now as Greater Miami has many different markets...
0 votes Thank Flag Link Wed Mar 12, 2014
Rental prices are on the rise due to high demand for housing. Condo associations have different rules governing how many times you can rent, and when you can start renting a newly purchased property.
it is my job to guide you to which building will meet your investment needs. Please contact me and lets discuss this in more detail.

Paul Heller
Berkshire Hathaway Home Services Florida Realty
18901 N.E. 29th Avenue, Suite 100
Aventura, FL 33180
954-559-6411 cell
305-749-1583 work
305-932-6355 fax
TRC, CSMS, E-Certified,REO Specialist
If you are looking to buy or sell property, go to my website at http://www.SoFlaBeachHomes.com
Do you know anyone who needs real estate advice? Please feel free to contact me.
0 votes Thank Flag Link Wed Mar 12, 2014
I have a Rental/Sale in case you are interested in a house with a lot next to it. Excellent for investment.
The price is $599,000. My parents are selling or putting the house for rent. If you might be interested, pls reply back and let me know.

0 votes Thank Flag Link Wed Mar 12, 2014
Hi Richard,

Do you still have the property, I would like to get more info.

Flag Mon Dec 8, 2014
The rental market here is VERY HIGH. There is a big demand for rentals due to all the foreclosures in the Miami area. Please let me know what type of rental property you are looking for such as; condo, townhome, single family.
I have been a real estate broker in South Florida for almost 30 years.
Please call or email me at your earliest convenience.
Kindest regards,
Donna Stewart
Advanta Realty
0 votes Thank Flag Link Wed Mar 12, 2014
HI ,

The Rental Market in Miami is very strong right now . WIth the rising interest rates . You have losted alot of the First Time Home Buyers . In most areas you find the rental market is very strong . If you have any questions . Feel Free to reach to me .

Samantha Tenzer Friedman
Tenzer Realty
Cell 786 314 6100
Email: SamanthaTenzer@yahoo.com
Website: http://www.tenzersellshomes.com
0 votes Thank Flag Link Wed Mar 12, 2014
I have seen that you have asked the question a few times, and feel there are several ways to answer, Yes there is always demand for rentals in the Miami area. But there are also different types of rentals and you can approach the purchase in several ways.
There are the shorter term "vacation" type rentals and the long term annual rentals. The building that you purchase in dictates how long of a term your rental can be with the condo rules.
So, this combined with your budget will allow you to have many options.
I would be glad to discuss your options with you, and you may reach me either by email or phone.

I look forward to assisting you.
Beth Jenkins
South Florida Brokers
0 votes Thank Flag Link Wed Mar 12, 2014
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