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Rent vs Buy in Miami : Real Estate Advice

  • All3K
  • Local Info257
  • Home Buying1K
  • Home Selling90
  • Market Conditions104

Activity 5
Tue Jan 22, 2013
Anthony Khouri answered:
Josie,I got a beautiful house rent to own
New construction,let me know if your interested
Anthony Khouri
305 300 8540
0 votes 11 answers Share Flag
Sat Mar 31, 2012
Carlos Escamilla answered:
You will have to do the math.
if the rent is 1500 a month and the purchase price for a similar unit is between 150K and 180K is better to buy.
But if for example you are paying rent for 1500 a month and the purchase price is 300K you will have to love the house.
the other scenario could be you are currently renting and you wants to change the old kitchen, or remove a wall from the inside, change color to live colors, and if the owner is not agree with all this changes you cannot make them. But if you own the house there one to tell what to do or not do it unless there is an association.
well the choice is your but this is the most common situation between owning a place compare to renting.

Carlos Escamilla
Realty World Executive
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0 votes 9 answers Share Flag
Mon Aug 28, 2017
Marie Souza Team answered:
Rent to own is very very tricky. I would contact local agents through the search above. They will be best able to help you with your needs.

Was this answer helpful? Give it a "thumbs up" if so!

The Marie Souza Team - Top Selling on Cape Cod
Cape Cod Real Estate Services
Phone: 508-790-2000
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Mon Apr 2, 2012
Tammy Hayes answered:
Are you thinking of renting full time or for a vacation?

If you have a vacation rental property, here is a list of items that most people expect to see when they arrive. This is geared toward living in Southwest Florida.

1. Entry - Outside door mat, inside rug with a chair or table to place items.

2. Living Room - A sleeper sofa with sheet sets, blankets and pillows. An additional sofa or loveseat, coffee table, end tables, chairs, lamps, artwork or wall hangings, television, DVD player, stereo or radio, and a bookshelf with books, games, and puzzles.

3. Dining Room - A table with enough chairs to accommodate however many people the home sleeps, light fixture over the table, placemats and/or tablecloths.

4. Bedrooms - Each bedroom should have a bed with two sets of bedding, one dresser, two night stands, two lamps, an alarm clock, a mirror, hangers in the closet, artwork, a television at least in the master bedroom, a chair and wall hangings.

5. Bathrooms - Each bathroom should have at least two sets of towels, a mirror, towel racks, toilet paper holder and tissue, bath mat, rug in front of sink, toilet brush, wastebasket, soap dish, shower caddy, blow dryer, glass shower doors or a shower curtain.

6. Kitchen - Appliances should include refrigerator, stove, microwave, dishwasher, coffee pot, toaster or toaster oven, can opener, hand mixer, and blender. Utensils should include dinner ware, flat ware, stirring spoons, spatula, rubber scraper, tongs, wire whisk, cheese grater, potato peeler, bottle opener, corkscrew, steak knives, glass ware, wine glasses, coffee mugs, and plastic cups for kids. Other items should include pots and pans, baking dishes, mixing bowls, baking sheets, muffin tins, measuring spoons and cups, serving bowls, kitchen scissors, and a half gallon pitcher. Don't forget the oven mitts, hot pads, kitchen towels, dish cloths and sponges as well as a kitchen garbage can. Rug in front of kitchen sink, wall hangings, a telephone and phone books, flashlight, candles, matches or a lighter, writing pad and pen, fire extinguisher.

7. Cleaning Supplies - Mop, broom, dust pan, vacuum cleaner, dish soap, dishwashing soap, laundry soap, dryer sheets, all purpose spray cleaner, window cleaner, toilet bowl cleaner, scrub pads, and sponges.

8. Laundry Facilities - washer, dryer, iron, ironing board.

9. Optional Items if you have a lanai or outdoor space - Grill, barbecue tools, patio table and chairs, table umbrellas, beach umbrella, beach chairs, and beach toys.

10. Other - Give emergency contact phone numbers, list of local amenities such as grocery store, post office, pharmacy, bank, movie theatre and other attractions. Typed directions of how to use the TV, DVD player, stereo or other electronic equipment. Menus from local restaurants.
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Sun Apr 1, 2012
Alma Kee answered:
Hi Summer,

As long as your zoning allows short term rentals and you collect the extra taxes, you should be okay to rent it out.

If you are not paying your monhtly mortgage payments the lender may actually be able to collect the rents per the terms of your mortgage. I haven't seen it happen yet, though.

Have you considered selling it with a pre-foreclosure short sale? With a short sale you may be able to buy another house in only 2 years. If the lender forecloses you may not be able to buy another home for 5 years.

Also go to and find out if you can get a loan modification to lower your monthly payments. You will need to keep it as your primary residence so check that out before making it a "rental" property. Also if you decide to sell it via a short sale you should NOT make it rental property as you can end up with a large tax bill owed to the IRS for any "forgiveness of debt".
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