- Posted April 25, 2013 by
Miami Beach Condos: Tips For Prospective Tenants
The property rental market in Miami can be a real jungle. From people posing as real estate agents, to bait and switch ads on Craigslist, to apathetic and unprofessional brokers, there are many obstacles to overcome when searching for a place to call home. Driven by an influx of foreign investors and a slight ease in lending restrictions, condo values in Miami have been on a steady rise over the last 18 months. Economists and industry experts expect this trend to continue for at least the next two years. Rental prices are predicted to follow the increase in condo valuations with a slight lag, and a less dramatic upswing. With the rising cost of rent and the short supply of available units, finding a place to live is already stressful enough.
Part of the problem is that the public is simply uninformed about how the rental market works. Confusion regarding basic industry information causes renters to spend unnecessary time and effort doing “research” that often comes from websites with old or misleading ads.
So what’s the solution? It’s actually quite simple: find an honest, knowledgeable, and reliable rental agent and stick with them. The ideal renal agent should take the time to understand exactly what you’re looking for and thoroughly review the available units in your target area. Although no one can be an expert in every area in the city, your agent should have a solid understanding of the current pricing trends and market statistics. If they‘re any good, they will provide straightforward advice based on historical data and currently available inventory. Accurate and timely information allows renters to quickly make the right decisions in this fast paced rental market.