Have you noticed the rising trend in rent prices? We at Malt Realty and Development have also noticed. According to an article in a recent Florida Weekly issue “Rents jumped by $200 or $300 per month or more in some cases with landlords taking advantage of high demand and recouping losses from lower rents charged in the wake of the Great Recession, property managers said.” Rental rates, according to the article have increased by over 30%.
You may be receiving a rental increase to keep up with the rebounding market in our area, as well as rising costs associated with this. Should we offer a lease renewal we take into consideration a tenants’ history with rent payments, repairs, and the rising cost to carry the property.
“At this point the existing multifamily or apartment rental units have the ability to increase the rent simply because the demand has allowed for it,” said David G. Malt, president and owner of Malt Realty & Development. “However, we at Malt Realty and Development are not in the business of price gouging or taking advantage of a situation, rather with a sound business perspective; we keep our tenants, residents and owners in mind” states Suzanne McGuire, Director of Property Management.
An alternative to renting is purchasing a home. As the article indicated, buying a home may be up to 55 percent cheaper than renting, a higher percent than anywhere else in the country. However there are prohibitive factors associated with purchasing a home, saving at this percentage assumes you have excellent credit and stay in the home for at least seven years, among other factors.
Should you have any questions, please feel free to reach out to us. We are here for you.
We are RE-INVENTING RENTING!
With over 40 years of successful property management and rentals, our highly motivated Managers and Agents work diligently every day to achieve your goal! Our staff is qualified to communicate the attributes of your property to prospective renters due to our up to date knowledge of the local market place.
Malt Realty and Development
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