Renting a Continuum South Beach Unit in the Upcoming Peak Season!
October 30th, 2019
‘Tis the Season to be Renting Your Unit!
The winter season is coming and that means peak season for Continuum’s rental market. During the months to come, the rental market sees a huge boost in demand and consequently prices will be increasing.
We all know that Miami Beach and South of Fifth become even more desirable during the winter season. Almost everywhere else in the country, Canada and almost all of Europe, the temperatures range between freezing and cold, snowy, windy and so forth.
Some snowbirds already plan their escape towards the end of the summer, but many only start looking for a place to rent around this time of the year; when the temperature in their home towns actually starts dropping.
The number of lease signed in the last 2 months in South of Fifth is 130
40% More than the ones signed in July and August!!!
Increasing Number of Rentals and Rental Prices
The number of lease signed in the last 2 months in South of Fifth is 130,40% more than the ones signed in July and August!!!
These numbers are still growing and the rates go even higher as the demand increases and the supply is very limited. Increases of 20% to 30% in the rental rates are the norm for the seasonal rents and the length of the stay is usually between 3 to 6 months.
What Units are Renting?
Large units; 3 and 4 bedrooms are particularly high in demand as families like to visit the Miami Beach areas and be close to the actual sand.
A lease at Continuum for that kind of units ranges between $35K and $50K per month.
At Portofino such a large unit rents between $20K and $25K per months
One Ocean units rent around $15K per month
Renters are asked to be more and more flexible to be able to rent one of the few units available. Sometimes they even allow owners to use their units during the holidays and start leasing it afterwards.
Contact the Continuum Experts for the best seasonal rentals or in case you would like to earn top dollar by renting out your own unit for the season
David Siddons | +1.305.508.0899 | David@siddonsgroup.com
David Siddons is an independent and top producing realtor, known for his market knowledge and many insightful blogs and reports on the Miami real estate market. He is the author of many of Miami’s most groundbreaking real estate investment guides and the 2019 Miami Real Estate Forecast
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