| Finding an apartment for rent in Miami shouldn't be a | | | | good part of the new construction is taking place, |
| problem. With so many apartment complexes and | | | | there were 226 units available for rent, 56 of which |
| individual investors who bought condos in the recent | | | | were priced between $3,000 and $9,000 per month. |
| real estate boom, the inventory has remained high. | | | | A few tips from Miami real estate agents about the |
| On the other hand, many apartment buildings were | | | | process of renting in South Florida: |
| converted to condominiums and sold during the same | | | | -Start looking early, don't delay, call a real estate |
| real estate bonanza of the last 4 years, and the | | | | agent that handles rentals or start browsing the |
| 'rental conversions' were a very popular option for | | | | classified websites like SellHousesMiami.com, Craigslist, |
| those looking to buy their first home, but mainly with | | | | the Miami Herald, etc. If possible, begin your search at |
| investors looking for a quick flip, and for a long time | | | | least 30 days before the date you're planning to |
| it was good business. This cut inventory at the other | | | | move. The reason for so much anticipation is simple: |
| end of the spectrum, balancing the availability of | | | | if there's an application with the apartment complex |
| rental units. | | | | or condominium association, it may very well take |
| Reaching the fall of 2007, the backlog of homes for | | | | 10-20 days to get an approval, so the sooner the |
| sale in Miami is at levels not seen for many years, the | | | | application the better. |
| new condo buildings under construction keep adding | | | | -Make a list of the things you will need to know: how |
| more units to the already large inventory. Investors | | | | many parking spaces, is there washer/dryer in the |
| are now reluctantly becoming landlords, since condos | | | | premises, what is the policy regarding pets, and what |
| are getting harder to sell, and new rental are coming | | | | is the minimum length of contract. |
| online every month. | | | | -Ask about application fees, and security deposits. |
| There are options for every taste. Just doing a quick | | | | Condo associations require an application fee that can |
| search in the local MLS listings, taking as a sample | | | | be around $150, and many of them require now also |
| apartments/condos with 2 bedrooms and 2 | | | | a refundable deposit, in case you incur in damages to |
| bathrooms, we found a wide range of rent prices, | | | | common areas. |
| obviously depending of the areas: in Aventura, an | | | | -Landlords in Miami usually require first month's rent |
| area largely comprised of condo buildings, we found | | | | and a security deposit (which is not the last month's |
| 328 of such units with rent prices between $1,200 to | | | | rent as many people believe) to cover for any |
| $5,250. | | | | damage to the property. Some landlords require 2 |
| In Miami Beach, there were 385 units available, with | | | | month's rent as security deposit plus the 1st month. |
| rent prices between $1,200 and $16,000 at the | | | | -Ask about what is included in the rent: water, |
| luxurious Setai. Most condos and apartments hovered | | | | electricity, cable TV. Don't be afraid of negotiating, |
| around the $3,000 monthly rent, and the majority is | | | | many landlords and management companies in Miami |
| concentrated in popular South Beach. | | | | do negotiate the terms of the leases. |
| In Downtown Miami, specifically in Brickell, where a | | | | |