||# of Agencies
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Fort Lauderdale, FL Rental Market Overview
Fort Lauderdale, FL Property Management Companies
Broward County Property Growth and Demand Continues
It's a great time to be a rental property owner in Fort Lauderdale. Rental market resources like the Marcus and Millichap 2013 National Apartment Report (NAR) anticipate continued growth in employment and development as vacancy rates throughout Broward County remain consistently low. The NAR noted that some of the most popular Fort Lauderdale property assets were in established neighborhoods east of I-95 along with rental residences surrounding the Nova Southeastern University (NSU). This recent surge in demand continues to attract large investors from out of state as well as Canada and Latin America, which is ideal for small, independent property owners looking to liquidate Class A luxury assets at a substantial profit. But how will do-it-yourself landlords continue to compete with these big business behemoths?
Learn How to Compete with Large Institutional Investors
Adaptation in a changing real estate market is often the key to success for small and independent rental property developers. From a practical standpoint you might learn helpful strategies from reading real estate books or attending property investment seminars, but books and speakers won't address the specifics and conditions unique to the Fort Lauderdale rental market. Whether it's optimizing marketing, rental pricing or tenant processing, many landlords find ideal solutions to individual needs through a local property management professional. Property managers work for multiple clients and routinely deal with local market trends, new tax concerns and changing landlord/tenant regulations. In many cases you can customize your property management services and share or take on the right amount of work that works best for you and your schedule. This gives you more freedom to review your business strategies or to spend more time with your friends and family outside the office. Learn more about Fort Lauderdale property management companies by requesting your free instant quote today.
One of the Southern-most U.S. cities is Fort Lauderdale, Florida, also known as the Venice of America, which is located along the Atlantic seaboard and a stone's throw from some of the state's hot spots, Miami and West Palm Beach.
Though the city's population is roughly 165,000, according to Census data, the apartment market in Fort Lauderdale is a premier one in Florida and the U.S. The city offers renters a prime option, as the warm climate and close proximity to renowned Florida features and the ocean make it very attractive - particularly to residents of the Northeast who want to escape the cold weather.
Fort Lauderdale is comprised of 60 neighborhoods and several nationally recognized businesses, many of which hire thousands of local workers. Additionally, some of the country's best hospitals reside in the city.
Pro sports teams from Miami offer Fort Lauderdale's tenants the opportunity to take in a game, while a number of quaint museums, theaters and arts centers provide entertainment for locals.
Many Property Management Firms Operating in Fort Lauderdale
South Florida has been an ideal locale for residents to lease properties for decades, as the area boasts warm temperatures year-round, along with a number of distinct amenities and features that appeal to many.
Property investors who put down capital on a single-family or multifamily residence in Fort Lauderdale may want to employ a property management team to handle all of the intricacies of their business, such as interviewing applicants and dealing with tenant concerns, to make their investment worthwhile.
Fort Lauderdale Rental Market at a Glance
Projected Vacancy Rate, 2011: 5.8 percent
Projected Asking Rent Increase, 2011: 2.1 percent to $1,080 per month
Projected Effective Rent Increase, 2011: 3 percent to $1,021 per month
Statistics courtesy of Marcus & Millichap
Finding Fort Lauderdale Property Management Companies
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