Market Conditions in 33139>Question Details

Rude, Home Buyer in 33139

Hello, I just bought a 2 bd condo on Euclid Ave, 30 sec away from Lincoln, 5 mn from the Ocean. There is a 6

Asked by Rude, 33139 Wed Jul 30, 2008

months rental restriction. Do you think it will be easy to rent it, furnished, for 6 months, twice a year? Thank you

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Do a yearly, SoBe is a strong rental market. remember if you rent it for 6 months adda day so you do not pay sales tax.
1 vote Thank Flag Link Wed Jul 30, 2008
Rude,
A lot of hotel employees do internships for less than a year, so as long as it is furnished, you shouldn't have a problem. Definitely try Craigslist (as Kevin said) and pass the word to all the hotel managers in South Beach.
Web Reference: http://www.miamism.com
1 vote Thank Flag Link Wed Jul 30, 2008
That's a crystal ball question. Most people are looking for annual leases, especially in that neighborhood; but that's not to say you can't find a tenant. Best advice: Craig's list!
1 vote Thank Flag Link Wed Jul 30, 2008
The new restiction is 3 months (see today's Miami Herald). You bought into a tough market friend. 2/3 of Miami properties sold over the last year are non-owner occupied meaning that 2/3 of units sold will be rented out. There is a huge shadow inventory in Miami piling up. I really hope you made a killing in this deal. Otherwise you might be underwater within the end of the year. Good luck.
0 votes Thank Flag Link Wed Sep 3, 2008
I don't think it would be EASY to rent it twice a year for 6 month stints- unless the price is very, very low. Of course, it is possible. There are many people looking for south beach, short term housing.
0 votes Thank Flag Link Mon Aug 25, 2008
Oh yes. Easy! Plenty of people are looking.
Web Reference: http://miami.craigslist.org
0 votes Thank Flag Link Thu Aug 14, 2008
Craigs list is great-Furnish it simply with things that can be cleaned easily. Check with the Chamber of Commerce to see if they have a web page too. I have two rentals in Vero and Blowing Rock and have good luck with Vacation Rentals.com-Good Luck-Pam Mayers-EWM Real Estate
Web Reference: http://pammayers.com
0 votes Thank Flag Link Wed Jul 30, 2008
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