Rental market heating up!

By
Real Estate Agent with Optimar International Realty

I have found that in South Florida the rental market is booming! There is a tremendous surge for renters, now that people have decided that purchasing a home isn`t cost effective.

We have 7 rentals, we receive at least 10 calls a day for them. It`s very interesting watching how the shift away from buying a home has changed. Many are asking about "Lease Options", which in my opinion, if you`re looking to do that, you should actually do yourself the favor, take the Homestead Exemption that Florida offers and buy a house.

In the next 4 months when the Season starts, i`ll be very curious to see how scarce rentals will be..

Comments (6)

Jenny Lozano
Florida List for Less Realty,Inc. - Boca Raton, FL
I see the same in Palm Beach. Rentals are the flavor of the day..
Aug 23, 2006 11:02 PM
Christopher H
REAL ESTATE - Shelby Township, MI

Erika,

We like to say this years tenants are next years buyers.  If you can find them a home and stay in touch they won't forget about you when they are ready to buy.

Aug 24, 2006 12:51 AM
Shannon Moore
Green Lion Realty - North Port, FL
Realtor, Sarasota & Charlotte

Wow, it's just the opposite here in SW Florida (North Port). There are tons of rentals available. When people can't sell they are turning to renting. People have to drop the rent prices just to get renters because there is so much to choose from. Interesting how different the markets are so close together!

Aug 24, 2006 11:20 PM
Jenny Lozano
Florida List for Less Realty,Inc. - Boca Raton, FL
Agree,Tenants do turn to buyers. Thats almost 15% of my business...
Aug 24, 2006 11:26 PM
Ray Higdon
Forever Wealth Club - Fort Myers, FL
I agree with the Moores, here in SW Florida it is not as good as it used to be. I own rental properties throughout ft myers and I used to be able to put up a for rent sign and get 20 calls a day, not anymore
Oct 10, 2006 10:58 PM
Lisa Ray
Rent Marketer - Englewood, CO
We see a large amount of leads also going to the Orlando area.
Dec 31, 2006 07:06 AM