Home Selling in 33139>Question Details

Peluche, Home Seller in 33139

Anybody know a realtor who knows how to market and sell condos WITH rental restrictions?

Asked by Peluche, 33139 Wed Jun 29, 2011

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Peluche,

I understand that you are a seller and you really should find a Realtor® who can provide you the latest market data and analysis as it effects your property. Whoever told you that the only condos that are selling in Miami Beach have no rental restrictions is not correct in their analysis.

In just the past 60 days 440 condominiums have successfully closed in Miami Beach. That equates to over 7 sales a day and I can assure you that almost all, if not all, have some sort of rental restrictions.

In fact, the condo market all along the southeast coast of Florida has been very strong but sellers must have their homes priced properly and marketed effectively. Showing condition will also be of utmost importance as once a potential buyer crosses your threshold presentation is everything. Again, I have some great contacts on South Beach and if you would like me to refer someone who will be very qualified to analyze your situation and make the appropriate suggestions to help you meet your goals. Keep in mind that today's buyer is very price conscious and the mania that ended in 2005/2006 is far in the rear view mirror.

I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference: http://www.tompriester.com
1 vote Thank Flag Link Thu Jun 30, 2011
Condos with rental restrictions are abundant in Miami hence I do not see an issue, in fact several of our international investors prefer a one long term tenant who takes good care of the condo. Because international investors are absentee owners they rather not have the turnaround of short term rentals.

If your condo is still in the market and hasn't sold then the issue is marketing and pricing not rental restriction. Contact me for a free evaluation and assessment of the marketing strategy

Kind regards

SAVI
0 votes Thank Flag Link Sun Jun 10, 2012
If you are having problem selling because of the rental restriction maybe your strategy should change. Focus in marketing your property to non investors or perhaps to other buyers from other states who may want to buy only for a vacation home but do not want to rent it out.
Every home can be sold! You just need to find the best strategy.
Without looking at the condo book/by laws of your building it's hard to say what the real problem is.
If you want to discuss further please contact me. Besides Miami, I worked in New York where some condos restrictions made almost impossible to be sold, but I did it.

Gisele Zachar-Nashelsky
305 766 0943
sellinginmiami@gmail.com
facebook.com/sellinginmiamibygisele
0 votes Thank Flag Link Mon May 14, 2012
Peluche,

I am such a Realtor and top producer at Zilbert Realty Group located on Lincoln Road. Our small office sells over $170M of real estate annually, catering to local and international buyers and sellers, and operating in multiple languages. We successfully manage multiple customer channels in our real estate practice, which includes a high-traffic, award-winning website (http://www.Zilbert.com); an innovative, retail-based store concept, the Zilbert Realty Store; a traditional face-to-sales practice; and a global marketing network that reaches thousands of buyers and brokers across the United States, Canada, Europe and Latin America. face

If you are seeking a local, professional Realtor with the experience to sell your 50 plus property feel free to contact me daily.

Kindly,

Bryan Sereny
Web Reference: http://www.bryanandbill.com
0 votes Thank Flag Link Sat Dec 10, 2011
Good Afternoon Peluche,

Having just sold and closed on a condo on South Beach, just last month I can attest that the sales on the beach are moving at a good pace, and as stated here already, the key is a knowledgeable realtor as well as a realistic price on the condo. The transaction, I handled did have restrictions as do most condos, but was also with the bonus of being a short sale. I am happy to say that from the listing date to the closing date was just under 90 days. The key is to properly disclose this information to the potential buyers and know with specificity what those restrictions are. As also stated here, there are a variety of buyers for property on the beach, some want it as their primary residences, others for investment and still others as a second home with not intention of renting. Depending on which building you are in, and what amenities and features you have that will also affect the pricing. In doing research again just a few days ago for another seller, I noticed that there werent nearly as many units truly available for sale as I thought. For example, if your building has assigned parking that is a bonus, especially on the beach.

Should you have any further questions, please feel free to contact me.

Lila Lopez
RE/MAX Advance Realty
0 votes Thank Flag Link Thu Jun 30, 2011
Dear Peluche:

I agree with the rest of the contributors on this; every condo comes with one or another set of restrictions. This is the nature of condo life.

And, not every Buyer is an investor. There are a lot of Buyers in South Beach who are purchasing with the intend to occupy the property. Some will be purchasing cash but most of the end users will be seeking financing. Hence, here is the other important question: will this condo qualify for financing?

Remember that each restriction limits the number of potential Buyers. Yet, I am a strong believer that ultimately, it is the correct pricing in conjunction with the condition of the unit that will determine the outcome.

And, you are quite right in asking this question; there are many Realtors working in South Beach; who will be the right one to price and market it correctly?
0 votes Thank Flag Link Thu Jun 30, 2011
I should have made myself clear at the outset... I am a Seller not a buyer.. My condo in S Beach has 100 percent rental and age restriction 50 plus.
I had tried to sell it to no avail and after 6 months I took it off the market.
That was 2009. I would like to put it up for sale but at a much lower price than last time. My realtor says it's the condos that have NO rental restrictions that are selling. So back to my question.
Does anyone know of a realtor who does a good job of selling rental restricted condos in these marketing conditions?
0 votes Thank Flag Link Thu Jun 30, 2011
Peluche,

Almost all condominiums will have some sort of rental restrictions. The condominium documents should clearly spell out if the unit can be rented and if so how many times per year, minimum length of lease, approval process, etc.

Many buildings will not allow any type of lease, others may allow only one lease per 12 month period, some may allow 90 day leases, some may allow 30 day leases there are sorts of variations that may be in play in your particular development.

Any qualified Realtor® will be able to help you determine what these restrictions are and put together the appropriate marketing plan. Find a good agent in Miami Beach, who is well qualified in evaluating market data, and you will be miles ahead. I have great contacts in the area if you would like me to refer someone just let me know and I would be happy to help.

I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.



Always at Your Service,


Tom Priester e-PRO
"Results Driven Real Estate"

Keller Williams Realty
561 308-0175
tom@tompriester.com
Web Reference: http://www.tompriester.com
0 votes Thank Flag Link Thu Jun 30, 2011
The better condominiums will not allow any rentals or have very strict restrictions and limitations. That is in many ways a good thing. We are Beach Realtors and deal with all kinds of opportunities, challenges and obstacles. Often opportunity comes disguised as an impossibility. Permanent residents as opposed to investors will always prefer living among other year-round residents. Every situation is unique- without knowing more- it is difficult to give my professional opinion and advise.

Mott Marvin Kornicki, Broker
Waterway Realty International
8811 Harding Avenue | Surfside, Florida 33154

786-229-7999 Cell-Text
http://waterwayrealty.sef.mlxchange.com
info@waterwaysrealty.com ≈ E-Mail


http://www.stik.com/mott.kornicki

http://www.miamibeachrealestateguy.com
0 votes Thank Flag Link Wed Jun 29, 2011
I suspect that the rental restrictions aren't going to be the most pressing issue; the buyer financing will probably be your biggest thorn in your side.
0 votes Thank Flag Link Wed Jun 29, 2011
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