Southwest Florida great for Rental Investors
Southwest Florida is one of the best markets for rental investors based on the regions surge of baby boomer demographics. Tight supply, rising rents and tremendous demand has made the region a favorable market for landlords. This was bolstered by the sharp increase of the baby boomer population moving to the west coast of Florida.
These conditions have helped Manatee, Sarasota and Charlotte counties each earn a spot on the national list of the top 25 places for residential landlords renting to boomers. These are the roughly 76.5 million Americans born between 1945 and 1964.
On the flip side of things it has become increasingly difficult for younger family’s to find affordable housing in the apartment arena. There has been such a demand for available housing for annual, seasonal and temporary housing that the demand is outweighing what is available on the rental market.
Realty Track collected demographic date from the census bureau with the annual gross rental yields to identify the top 25 rental markets for the baby boomer population includes Manatee , Sarasota, Charlotte and 13 other counties.
Manatee and Sarasota ranked 13th and 14th respectively according to the growth in those demographics and annual returns of 10.9 %.
As a result of this we are always in need of additional inventory to keep up with the shortage of properties and the demand that is unrepresented . If you are an investor who is considering renting out your property and and don`t know who to talk to or how to go about it then contact Perla direct at 941-812-7216 and experience the the difference.
Baby Boomers Love to rent Homes in Manatee and Sarasota Counties
It`s no secret that the baby boomers born between 1945 and 1963 have been moving to Florida for decades. Weather they are coming here to purchase their retirement home or enjoying a prolonged vacation. What has changed over the past several years is that the boomers are driving up the rental market.
According to new online statistics produced by online housing data provider RealtyTtrac Manatee County is ranked as the 14th best boomer heavy populated place in the nation to get a great return on a 3bd 2ba home. Sarasota County ranked 15th overall, Florida took 15 0f the top 25 spots in the statistical survey.
Florida is the popular destination for the 50 and 60 year old boomers who are now renting homes and this comes to no surprise to the property managers in the area. In the wake of the housing crash and the great recession that stripped many boomers of their portfolios , renting here on the suncoast of Florida is a way to achieve the life style they want without purchasing a home.
Responding to the demand of the rental market investors such as Beazer pre-owned, Blackstone group and Colony American group have purchased hundreds of homes in Manatee and Sarasota Counties particularity east of the I75 in the Lakewood Ranch area. With the abundance of nice rental units it has become appealing to rent for the ones who were caught up in the Real Estate crash.
For landlords having long term renters that can pay down the mortgage is a huge advantage. Gross rental yield is a calculation of what the homes purchase price can be charger in annual rent. The average gross yield for a 3br 2 ba home in Manatee county is 10.85 %. Sarasota County notched out a 10.49 %
always marketing both Manatee and Sarasota County is search for additional inventory to add to our portfolio because demand in the rental market both for seasonal and long term rentals outweighs what is currently available.
Florida Renter`s Finding a Tough Market
If you are considering renting your investment property and are unsure who to call or how to go about it contact me today direct at 941-812-7216 and I would be glad to view and evaluate your property.
By the way I do not sell Real Estate, my only focus is to provide you with the best property management and leasing service you have ever had. Contact me today and experience the difference, you will be glad you did I promise .
” Your Property is Our Passion “
Find your spot in paradise then contact me for your guest reservation!
Perla Whitaker, Realtor
Director of Property Management and Leasing
Ed Whitaker, Broker Associate
Property Manager and Leasing Specialist
SaraBay Real Estate, Inc. 7333 N. Tamiami Trail Sarasota, Fl 34243