|Specialty||# of Agencies|
|Single House or Condo||13|
|Home Owners Association||8|
|Total Local Companies||29|
The average rent for a 3 bedroom house in Miami, FL is $1,722.00. When you receive your requested free market assessment, compare the average rent to what a property manager expects your property to rent for before making your decision on which manager to hire.
Miami, FL Rental Market Overview
Vacancies Drop, but Miami Needs More Jobs and Less Rental Competition
Miami vacancies dropped to 3.5% in 2013, but projected job growth throughout the Miami-Dade County region isn't as strong as neighboring Orlando or Fort Lauderdale. That's one of the key reasons why Miami ranked near the middle of the 2013 Marcus and Millichap National Apartment Report (NAR). Some parts of the county, especially Miami Beach, continue to enjoy strong asset performance, but outlying areas may feel additional pressure as outside investors look for value entries and more new construction. Compared to other metropolitan regions, the Miami metro area has had low apartment unit construction. The NAR noted that only 1,000 new units were completed last year, which is the largest number of new completions in half a decade. The report anticipates more foreign investor interest from Israel, Canada and Latin America, especially relating to potential projects located in high density and beachfront locations.
Identify the Best Market Entry Points
We all can't be reluctant landlords who inherit immaculate beach homes next to Miami Beach, but Miami-Dade County does have some excellent single-home investment opportunities for those willing to tolerate hours of extensive research. Keep in mind that if you limit your searches to online property listings, you're probably missing out on some bargains. Expect to find deals beyond the dense metro regions and away from the beaches, but make sure that you have a plan in place to effectively market your property to tenants, especially since that predicted low vacancy rate applies more to the coastline and city than it does to Miami's outlying suburbs. Also remember that you're pitting yourself against full-time real estate pros during your bargain search. You're not the only one out there looking for deals. That's why a significant number of individual investors rely on Miami property management companies while searching for new assets. Property managers work with a variety of Miami clients, so they know local market conditions and sometimes even when new properties are poised to list. Property management companies also feature a range of services to help you balance the workload between your assets. That gives you more freedom to focus on the work your enjoy most, if that's any work at all. Learn more about Miami property management companies by reviewing the company profiles here and requesting your free information.