What is the best way to check on vacancy rates for condo rentals in the Miami area?

Asked by Skyreacher, Arizona Sat Jun 23, 2012

This is a very important for an out of state investor to consider. I am talking about Miami and the surrounding area odf Brickell, Hollywood, and Adventura.

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Jose Guzman, Agent, Aventura, FL
Sun Sep 30, 2012
You need to contact a local Realtor. Some information is missing to give you an accurate answer.
2 votes
Luis Iglesias, Agent, Coral Gables, FL
Fri Oct 5, 2012
Your best bet is to contact a local agent/broker so that they can provide you with accurate information. Feel free to give our office a call.

Luis Iglesias
D & I International Realty
Principal Broker
(786) 395-0341
0 votes
Miami Beach…, , Miami Beach, FL
Tue Jun 26, 2012
Hello there, please feel free to contact us for a comparative market analysis. We are happy to answer any of your questions regarding these real estate markets.
0 votes
SophieMiamiB…, Agent, Miami Beach, FL
Mon Jun 25, 2012

I could provide you with that information. Please contact me at your earliest convenience.

Sophie Bamps
Real Estate Agent
Engel & Voelkers/Miami
1200 Brickell Avenue
Miami, FL 33131
Cell: 305-206-8867
Fax: 305-443-2226
0 votes
Wenceslao Fe…, , 33130
Sat Jun 23, 2012
Generally, vacancy rates among quality properties pretty much anywhere in our county is low to very low. Most newer rental buildings (built during the boom and finished roughly since 2005), which offer amenities and offers one or more features such as: pool, balcony, parking, security, views, pet-friendliness, etc, are at or near 100% occupancy.

However, as indicated in several of the responses below, your question is right now too broad to answer. For instance, (rental) price in any area and property type today will be as usual, the biggest factor at getting your property shown. If it meets tenant expectations as to location, size/features and level of care (is it a dump or newly and professionally renovated?), then it is likely to rent to a higher quality tenant that those that do not meet the expectations of the quality of tenant you're looking for.

As it is true with any form of real estate investment, whether single family house, townhouse or condo unit, if you're considering a small building you can buy and control (any type of multi-family configuration such as "residential" duplex, triplex or fourplex or "commercial residential" of 5+units), then your numbers will greatly be influenced by your strategy and financial capabilities.

Buying cash today and having the proper cushion for repairs, updates and/or upgrades is KEY. However, even this is NO guarantee of a successful bid - it typically does guarantees though, a "sit at the (bargaining) table", so to speak.

Equally key is being counseled by the right persons. You should be in close-contact to a trusted attorney as well and with a CPA or qualified accountant to help you with these particulars. Each bring expertise to the table, paramount to your success. In addition, you'll need to find a real estate agent that can counsel you and whose advice and perspective you trust.

It's now your move. There are probably dozens and possibly hundreds of choices for you in almost any price range within the broad areas you mentioned. Narrowing down your search criteria will be of immense use to you for time and frustration-sake. Pick among the cream of the crop with a tighter criteria, then broaden or refocus your search criteria as you evaluate existing options. Find your comfort zone, then stick to a plan.

Finally, when you sit down with your trusted experts, make sure you have (or develop) a clear exit strategy for each and every proposed investment you consider, in case they do not meet your expectations in the end.
0 votes
Angel Calzad…, Agent, Fort Lauderdale, FL
Sat Jun 23, 2012
Ok Skayreacher, as I related earlier, you moust interact more personable with one real estate agent of your choice and preference either here from Trulia or from any other source of your sphere of influences because that's the only and more appropiate way to achieve results. I do not know what is your price range niether your target goal but even nothing is assumable in Real Estate , I consider that you are thinking of more than one condo unit as investment, so I suggest that you should invest rather on a duplex, triplex, or fourplex just to get started knowing that you are from out of the state, than investing on condo units in condominiums where you have to deal with the building associations and their condo commands. How quickly you want to start this investement ? I am open to your inquires.
My e-mail address is : angelrealtor104@hotmail.com

Angel Calzadilla, Real Estate consultant.
0 votes
Skyreacher, Home Buyer, Arizona
Sat Jun 23, 2012
to clarify things, I would be that investor.
0 votes
Ann Ryan, Agent, Doral, FL
Sat Jun 23, 2012
Skyreacher, if your investor is considering buying a condo as a rental investment there are really only two questions to consider: 1) what is the RIGHT rental price to put on the place, and 2) what will be the return on investment.

At the RIGHT price, nearly any unit will rent quickly and easily. However, I would urge you to consider purchasing in another location. As an out of state investor, you should be trying to get long-term tenants for less maintenance and headaches. That means avoiding the tourists, and moving into the "real" Miami.
0 votes
Angel Calzad…, Agent, Fort Lauderdale, FL
Sat Jun 23, 2012
hi Skyreacher, your contact who is an investor from outside of the state of Florida needs to retain the services of a full time Real Estate agent in the area of where the investor is thinking to buy or invest, because this is a multy-level question. Have your investor to contact me by e-mail or phone ir order to know more specifics of his/her criteria and I will be glad to furnish all requeriments with the most accurate presentation of a list of properties for investment.

Angel Calzadilla , real estate consultant
Charles Rutenberg Realty LLC.
(954) 632-3593
0 votes
Caridad (Car…, , Coral Gables, FL
Sat Jun 23, 2012
You need a rental market analysis by location how many bedrooms and how many baths any pets. Please provide me an email and I will gladly send you that market analysis based on your criteria. Thank you Cary Calderin realty7@ live.com
0 votes
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