Gulfcoast renters are getting more for their $$$$$

By
Real Estate Agent with TOVIJE Enterprises, Inc.

RealFacts research firm has compiled the following data for rentals in the areas that I service for property management.

According to the study, monthly apartment rents in the Manatee, Sarasota and Venice markets averaged $973 for the first quarter of 2007. This represents a 3.5% increase over the same reporting period in 2006.

The greater market area of Manatee and Sarasota counties is the third most expensive in the state of Florida behind Naples and Miami.  Apartment occupancy rates at an average of 91.5% were down 3.5% over the same reporting period in 2006. 

The Englewood area was not included in this study due to the low number of actual apartment communities that the area has to offer. Being a still relatively "undiscovered and under-developed" area of the Florida coastline, Englewood's rental market relies heavily on the availability of single-family homes. 

In general, area rental rates in the Englewood area for single-family homes have dropped approximately $100-200/mo from the previous year's rates.  Brand new homes with pools can be rented for $1200/mo with lawn and pool care included. Inventory in the single-family home rental market in Englewood has increased significantly over the last year due to lack of sales activity.

Recent conversations with would-be homeowners in the area indicate that many consumers are taking the "wait and see" approach of finding a home. Many potential renters I meet tell me that they are finding rental deals that are too good to pass up for now.

Instead of purchasing now, as they had planned, they will wait another year or two to see if the tax and insurance issues will be properly addressed and if, indeed, the market will adjust upward again. 

In the meantime, many of them are taking advantage of being able to rent more of a home than they could in the past. For example, in some areas, a 4 bedroom, 3 bath pool home on a canal with a dock can be rented for less than $1500/mo.

Most rental property owners are willing to structure a lease purchase or lease option package that will meet the needs of the renter. In fact, one real estate agency in town has changed their signs to clearly indicated "FOR SALE OR LEASE!" 

It's a GREAT TIME to get a GOOD DEAL on a rental home in Manatee, Sarasota or Charlotte county!

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Florida Sarasota County Venice Golden Beach
Tags:
property management
rental property
vacation homes
venice florida
louann nudi
annual rentals
leasing services

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainer
6,090
Siha Top
TOP MORTGAGE COMPANY - Everett, WA
I have a need for a great Propert Managment in Boyton Beach & Miami.  Any suggestions?  Thanks
May 19, 2007 03:33 PM #1
Rainer
47,149
Louann Nudi
TOVIJE Enterprises, Inc. - Indianapolis, IN
Yes! Go to www.allpropertymanagment.com and search for someone in that area.  Good luck!
May 20, 2007 01:56 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
47,149

Louann Nudi

Ask me a question
*
*
*
*
Spam prevention

Additional Information