South Florida tenants will have to settle for slower rent growth

South Florida tenants will have to settle for slower rent growth

Beleaguered South Florida tenants still will be paying more in the coming year, but a new forecast shows rent growth is likely to slow.

Rents in the tricounty region are projected to increase 3.2 percent through next August — down from 4.2 percent over the past year, real estate website Zillow said. The national average for the year ahead is 1.7 percent, same as it was this year.

South Florida’s Zillow rent index — the median price paid for renting apartments, condominiums and single-family homes — was $1,885 in August. That’s up 21 percent since August 2011, according to Zillow.

The sharp increases have led to affordability problems.

Read more …

http://www.sun-sentinel.com/business/realestate/fl-south-florida-rent-growth-20161014-story.html

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Single-family rentals on the rise in South Florida

Nearly a quarter of all single-family homes in South Florida were occupied by tenants or available for lease last year, according to a report that underscores the changing profile of renters.

In Palm Beach, Broward and Miami-Dade counties, 22 percent of the 904,700 homes were used as rentals in 2015, according to U.S. Census data analyzed by real estate website Zillow.com. That’s up from 19.5 percent in 2014, and it’s the highest percentage since 2005, the first year the figures were calculated annually, Zillow said.

Traditionally, renters have been young, single professionals living in apartments, but more families are turning to single-family rentals because they’ve postponed homeownership or they can’t afford to buy, housing analysts and counselors say.

Read more …

http://www.sun-sentinel.com/business/realestate/fl-single-family-rentals-20160923-story.html

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Residents selling co-op building in Miami Beach

A group of Miami Beach residents has decided to sell their co-op building, according to a news report.

Bidding starts at $26 million for the fiveunit building at 1446 Ocean Drive, The Miami Herald reported.

Read more…

http://www.sun-sentinel.com/business/realestate/sfl-residents-selling-building-miami-beach-20151203-story.html

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Struggling homeowners can meet with mortgage companies

The HOPE NOW Alliance and Urban League of Broward County will have a seminar Thursday for homeowners struggling with their mortgage payments.

The free event will allow homeowners to meet directly with some of the nation’s largest mortgage companies, including Bank of America, Chase, US Bank, Ocwen and Wells Fargo.

Read more…

http://www.sun-sentinel.com/business/realestate/fl-mortgage-relief-20151118-story.html

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Renters who invest are better off than buyers, study finds

Average consumers in South Florida would be slightly better off renting a home than buying one — assuming they invest the money they would have spent on a down payment and other cost savings, a new study shows.

The Beracha, Hardin & Johnson Buy vs. Rent Index, a creation of professors from Florida Atlantic and Florida International universities, determines whether market conditions favor buying or renting a home in terms of wealth creation and investment opportunities.

Read more …

http://www.sun-sentinel.com/business/realestate/fl-rent-versus-buy-index-20150608-story.html

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