South Florida Apartment Rentals in Growing Demand – Act Now!
There is still time to benefit from the worst U.S. housing shortage in a decade. As we start off 2015 there is great news for investors of multifamily housing – especially in upscale units.
There is an under supply of single family houses and apartments to rent for the first time since 2001. This has caused South Florida Apartment Rentals rates to rise faster than many of the nation’s largest metro areas.
As former homeowners prefer to turn to rentals in large numbers, the apartment sector continues to grow. Additionally, millennials and others who prefer to remain mobile or prefer the excitement of downtown living and the urban life style, are facilitating the pent-up demand for apartments. This is keeping the apartment market healthy, increasing and robust.
Joseph Thomas, a vice president for the Marcus & Millichap firm in Fort Lauderdale said “We’re seeing the market respond with a willingness to pay very, very strong rent for a quality product.”
To satisfy this demand, developers are building thousands of apartments across South Florida, many of them being luxury units.
But not all the construction and cranes that you see dotting the South Florida market are with the focus on renters. Many buyers (even the foreign buyers) have no interest in renting, but prefer to keep their units empty and for personal seasonal use. This means that, for some time, there will still be a shortage of South Florida apartment rentals available, especially in the luxury arena. With a lack of existing supply and with rental rates steadily increasing, this is still a landlord’s market.
About Octazon: Whether you own a few properties or hundreds of properties in Florida, Octazon Management, LLC is here to simplify property ownership and management. We can help you manage any and all of your properties. At Octazon we provide simplicity & peace of mind. Octazon uses cutting edge, cloud based property management software that fully integrates the entire property management and financial process enabling the investor direct access to valuable owner/investor information 24/7.
When providing management services to Realtors, Octazon will NOT provide the leasing, rentals or sales – so you never have to worry about losing control of your relationship with the owner.
Providing Simplicity and Peace of Mind™
Call us 954-674-2467 or email us at firstname.lastname@example.org today.
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