ORLANDO, Fla. – July 10, 2018 – A RentCafe study that looked at average rents in many Fla. cities found that Hollywood (up 9.6 percent) and Orlando (up 8.4 percent) had the greatest year-to-year increases. Out of 19 Fla. cities included in the study, only Davie saw a year-to-year decrease (down 0.3 percent).
However, the study suggests that Davie’s average rents may be turning around. The month-to-month stat finds that they increased 0.3 percent in June. On the flipside, Coral Springs, which saw a 1.9 percent yearly increase in average rents, was the only Fla. city in the study to see rental prices decrease month-to-month in June (down 0.3 percent.)
The overall average rents for the study included studio, one-bedroom and two-bedroom apartments, which did not necessarily move the same amount. In Hollywood, for example, a one-bedroom apartment rose an average 7.1 percent year-to-year, while the average two-bedroom rose 10.9 percent.
Nationally, rents in the 250 largest U.S. cities rose 2.9 percent and reached an all-time high of $1,405. In Florida, average rents ranged from $1,018 in Lakeland to a high of $1,861 in Fort Lauderdale.
For a complete list of the 19 cities – average city rental prices by number of bedrooms plus month-to-month and year-to-year changes – visit RentCafe’s website. To view cities within the state, select “Florida” in the chart at the bottom of the page.
© 2018 Florida Realtors®
According to ATTOM Data Solutions, in about 66% of the country, it is more affordable to buy a home than to rent one. Data collectors took the median price of a three bedroom rental home and compared it to the median mortgage price of a three bedroom home in over 500 counties nationwide. Over the past year, interest rates have been especially low and that is a key factor in the affordability of owning a home. Also according to this report, rents have rose rapidly over the last year up to 27% in certain areas.
Click Here to view an interactive map of the United States and compare rental and ownership prices in different counties that may interest you across the nation.
Here at Bardell, we do specialize in both sales and long term rental. If you would like to find out more about which option would be right for you, contact our office today, we will be honored to help you!!
Long Term Rental property in Orlando remains high on the list for institutional investors looking to achieve good returns on their cash investments as well as benefiting from the equity gains on property as the market continues to improve. We are still busy working with individual investors looking t o purchase long term rental property in Orlando and the surrounding area but this recent move by Blackstone is a strong indicator that the market for long term rental property in Orlando and other US markets is set to continue.
NEW YORK – Nov. 15, 2013 – In one of the surest signs that the home-rental business is going corporate, the area’s biggest new landlord has started bundling rent checks from tenants and selling them as securities on Wall Street.
Blackstone sold $479 million worth of bonds backed by its home-rental income. In addition to raising funds for Blackstone, the financing tool may bring uniform standards to a business long troubled by absentee landlords and delinquent tenants.
Blackstone’s bonds were backed by rents from more than 3,200 houses located primarily in Florida, California, Arizona and Georgia, the company said this week. The group owns about 40,000 homes across the United States, including 1,255 in the four-county Orlando market, according to a new report by the RealtyTrac research company.
Nationally, Orlando ranked 12th for investor purchases of residential property during the past 21/2 years. Equity funds, institutional buyers and other investors bought 16,501 properties, paying cash with almost every deal.
Florida as a whole led the nation for investor home purchases from January 2011 through September, with 115,167 sales. With investors selling off only about a quarter of their newly acquired properties, the majority have become rental properties, according to the RealtyTrac report. Investment groups affiliated with Blackstone have held all but six of the homes they have purchased in the Orlando area since January 2011.
Copyright © 2013 The Orlando Sentinel (Orlando, Fla.), Mary Shanklin. Distributed by MCT Information Services
We assist clients in identifying good investment proeprties, representing them throughout the purchase, organizing vendors and completing any required refurbishment. With then place the property on the market and take care of the tenant placement and subsequent management. If you are considering purchasing long term rental property in Orlando and the surrounding areas please contact us and talk to one of our experienced agents.
The Orlando Sentinel reports that Florida has 7 of the nation’s top 20 metro areas for single-family rental investments. Buying a Florida home and using it for long term rental is becoming an attractive option for many. During the last 18 months we have seen a growing increase in the number of investors buying property for long term rental. We help clients to find the property, refurbish and then place a tenant – a true one stop shop our clients.
Orlando comes in at number 13 of the 20 as the foreclosed homes in the area become viable for return on investment with long term rentals planned. This is the perfect time to invest in a single-family home in Orlando that can be rented long term, with a positive outlook for excellent returns. Bardell Real Estate can help match you with the perfect investment property – contact us with your requirements for a long term rental property in Orlando, Florida.
OCALA, Fla. – April 5, 2013 – Seven of Florida’s foreclosure-filled housing markets are among the nation’s Top 20 metro areas for single-family rental investments, according to a report.
Ocala was the top-ranked of the Florida metropolitan areas, ranking fourth nationally with a median sales price of $75,357 for a three-bedroom home and an average monthly rent of $1,070 on the same-size house, according to the report by real estate research firm RealtyTrac Inc.
The California-based company predicted cash flow by factoring capitalization rates, rental rates and home prices. Occupancy rates were not factored into the ranking.
The four-county Orlando metro area ranked 13th for best returns, with a median sales price of $108,000 on a three-bedroom home and an average rent of $1,316 on the same-size house.
“Buying single-family homes as rentals that actually generate good monthly cash flow has become more difficult over the past year as institutional investors crowded into the market, snapping up tens of thousands of properties in 2012 alone,” said Daren Blomquist, vice president of RealtyTrac. “But there are still opportunities for the more conservative, individual investor to buy rental homes that generate a healthy return on investment – it often just takes persistence and a willingness to pass on bad deals.”
Other Florida metro areas on the Top 20 list were: Brevard County, Jacksonville, Volusia County, Tampa-St. Petersburg, and Lakeland.
Leading the nationwide list was Memphis, Tenn., with a median price of $72,605 for a three-bedroom home and an average rent of $1,047 for a house of that same size.
Copyright © 2013 The Orlando Sentinel (Orlando, Fla.), Mary Shanklin.
Should you have any questions regarding long term rental properties in Florida, Bardell Real Estate has the answers. Contact us so we can match you with your Orlando specialist who will help match you with the perfect long term rental opportunity.
Long Term Rentals with Bardell Real Estate.
We have seen an increasing demand for long term rental in the Four Corners area near Orlando Florida and the trend looks set to continue. Recently we have been helping clients from Canada, France, Europe and the US purchasing multiple properties and placing them directly onto the long term rental market.
Helping clients to find and purchase the right homes in the right locations for long term rental is only part of the service we provide. For non-resident owners we have a dedicated team of professionals each with a clear focus and comitment to delivering the highest possible level of customer service. Our on-line Owner portal makes it easy for them to manage their properties at a distance and provides them with 24 / 7/365 access to every aspect of their homes.
It’s always a pleasure to receive comments from satisfied clients and I am delighted to share one I received last week.
“I will be referring anyone we know who is looking for property management your way as Tim is such a blessing to your company on the property management end of things. In the future, once we have this current property up and running, we are definitely going to be in the market for another rental and will no doubt be using Tim and your company for our investment needs.”
Beth Brown, Lititz, Pensylvania U.S.A
Looking forward the demand for long term rental looks set to continue as more youg Americans are forming households and fueling the need for more long term rental properties.
NEW YORK – Jan. 21, 2013 – Household formation, which stagnated when recession kept many young Americans from leaving their parents’ home or forced others to return to them, is finally on the rise.
The number of households increased 1.1 million in 2011 and nearly 1.2 million last year, underpinned by gradual labor market gains and steady economic improvement.
RBS analyst Guy Berger remarks, “The rise in household formation bodes well for the housing recovery. Instead of having too many houses, we are turning to a situation where there aren’t enough.”
The gains are felt the most in the rental market, where rising demand has triggered a spike in new apartment construction. “We are going to see more recovery in the rental market in the very short run,” says Gary Painter, a public policy professor at the University of Southern California. “As the market improves, people will start to face higher rents and over time, that will spill over into the owner-occupied market.”
Source: “Analysis: More Americans Leave Parental Nest in Boost for Housing” Reuters (01/18/13)
© Copyright 2013 INFORMATION, INC. Bethesda, MD (301) 215-4688
If you have a property that you are considering long term renting or you are thinking of purchasing a property for sale in Orlando contact us today and we will be pleased to assist.