Brittany, Home Buyer in 30066

Townhome Developments that are only for rent

Asked by Brittany, 30066 Thu Jul 9, 2009

Hello, I am a first time home buyer interested in a townhome development in Hollywood, Fl ( Royal Oaks Townhomes) but recently found out that this development is for rent only, but information on the website leads me to believe that the townhomes could be purchased. I am wondering if originially the development was planned to have townhomes for sale and due the economy they are only renting the properties or is this something that is typically done: building townhome developments for the purpose of rent only? Thank you for any information you can provide.

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Keith & Kins…, Agent, Verona, WI
Tue Feb 7, 2012
One thing to be cautious of as you search for townhomes or condos, communities with units for sale and rent have some difficulty with resale values. This is because lenders don't like to lend on condos where more than 20% of the units are rented. So values will hold stronger in communities that require owner occupancy.
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Stefanie Coh…, Agent, Weston, FL
Sat Jul 11, 2009
Hello Brittany,
Beth is correct...these are for rent only. There are some very nice townhome developments with properties for sale. If you would like information on some of them I would be happy to help you. I would just need some information regarding your requirements.

Best regards,
Stefanie Cohen
Prudential Florida Realty
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Beth Jenkins, Agent, Miami Lakes, FL
Thu Jul 9, 2009
Hi Brittany,
Yes, these are for rent only. I have no further information on them, but some townhome communities are built for rent only, as are some apartments. If they are not for sale, there is nothing anyone can do for you on that proprerty.
There are many great townhouses and codos in Hollywood that can be purchased, if you are not working with a realtor I would be glad to help you in your search.

All the best,
Beth Jenkins
South Florda Brokers
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