Renting In Highland Beach, Florida? Take Notice, Rent Prices Are Going Up

For those who are thinking of renting a nice apartment in Highland Beach, Florida or most any other area, get ready to pay more.  Marketwatch.com reported today that landlords are expected to raise rents by about 8.0% this year. Click link for article: Landlords will hike rents by 8% this year

The article quotes a survey by Rent.com that says 88% of property managers raised their rents in the last 12 months.  In addition, 68% of property managers surveyed predicted rental rates will continue to rise.

According to data from the US Census Bureau, rental housing vacancies were the lowest it has been in almost 20 years.  As a result of the low inventory levels, 55% of property managers surveyed said they are less likely to offer concessions or lower rents in order to fill vacancies.





I work with both landlords and renters in the Palm Beach and Broward County areas and beyond. If you have been renting and want to purchase a home, contact me.  Also, if you have been renting your home and want to sell, contact me now.

I take an analytical approach to buying, selling and leasing real estate.  If you are thinking of selling or buying a home in Boca Chase, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman

Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Thinking Of Renting in Boca Raton? Proposed Rental Registration For Boca Raton, Florida

If you are a landlord thinking of renting out your condo or single family home in Boca Raton, you need to be aware of a proposed rental registration program.  Tenants who are looking to rent an apartment or home in Boca Raton should also be aware of the proposed rental regulation. I can help those who are seeking to rent out a home as well as those who would like to lease a home in Boca Raton and surrounding areas of Delray Beach, Boynton Beach, Highland Beach, etc.

Recently the  city of Boca Raton began reviewing a program that would have landlords register properties and tenants with the city.  The intent of the proposed registration program is the enhance the quality of life by reducing nuisance situations.  In addition, code compliance is thought to help keep property values stable.  The plan is to be discussed at a workshop in November 2015.



The proposed rental registration would make it easier to police rental regulations.  For instance, Boca Raton currently has rules that prohibit more than three unrelated adults living in the same single-family house.

Landlords should be aware of the potential impact to them as well.  If there are multiple code enforcement actions against a landlord, it would restrict the landlord's ability to rent.

Fees to the City of Boca Raton for the registration process would offset part of the costs of the proposed program.  As such, the cost of renting would most likely increase.

I take an analytical approach to buying, selling and leasing real estate.  If you are thinking of selling or buying a home in Boca West Country Club, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman

Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

South Florida Renters Pay Among The Highest Percentage Of Income Towards A Place To Live

The Sun-Sentinel newspaper ran an interesting article on August 31, 2014 regarding South Florida renters.  According to the piece, South Florida renters pay about 44% of their incomes towards rent.  Zillow reported the national average was 30% of income going towards rent.

The ratio of rent to income for South Florida was third in the nation, on par with San Francisco and below Los Angeles (48%).  According to the Sun-Sentinel article, which was quoting from a Zillow study, South Florida renters paid about 34% of income towards rent ten years ago and the national average was around 26% at the same time.

According to the Sun-Sentinel, the median monthly rent for Palm Beach County was $1,364 in 2014, up from $1,173 in 2011.  Of note, the U.S. Department of Housing and Urban Development reported Palm Beach County's median household income was $63,300 in 2014, which is the same as in 2011.  This means people in Palm Beach County have less discretionary income when compared with a few years ago.

Call me today for more information.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate
http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Palm Beach County Rental Occupancy Rate: Homes For Sale: Homes For Rent

The rental market in South Florida continues to show strong demand.  According the the Sun-Sentinel, the occupancy rates for apartments in Broward County and Palm Beach County are past 90%. 

The article also indicates landlords were able to raise monthly rent rates due to the high demand.

I tell clients to be prepared when making an offer as the rental market moves quickly.  Prospective tenants should be prepared to put up an earnest money deposit and security (typically one month's rent each).  Also, credit score, work history and related information will most likely need to be shared with prospective landlords and possibly condo/homeowner's associations.

I take an analytical approach to buying, selling and leasing real estate. I work with families, people looking for a rental home, a second home, investors, etc. As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.


For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

An Analytical Approach To Buying, Selling and Leasing Real Estate

http://MYsouthFLrealestate.com

The greatest compliment you can give is the referral of your friends and loved ones

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Is It Better To Buy A Home Right Now Or Rent? Zillow Weighs In: Homes For Sale: Homes For Rent

We have heard a lot about whether it is better to buy than to rent in the current market.  According to Zillow, in three quarters of the United States the break-even point is three (3) years.  In other words the amount of time it takes before owning is  better financially than renting, is three years, on average, in the US-- according to Zillow.

Zillow comments that it is even better for home buyers in the West Palm Beach and Miramar areas on Florida, which sport a break-even point of less than 1 1/2 years.  The Fort Lauderdale area is relatively in-line with the nation's average, at 2.8 years, according to Zillow.

As a Realtor, I am aware of trends in the domestic market, as well as in the local markets throughout South Florida. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.



For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550

http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.



Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Rentals: What Landlords And Tenants Need To Know About South Florida Seasonal "Bed Taxes"

With the seasonal rental period ending here in South Florida, I thought I'd comment on the "bed tax" in Florida. Any and all rentals for six months or less are subject to a tax, just like a hotel pays the same tax. That includes vacation or seasonal stays at townhouses, condominiums, timeshares, single family houses, mobile homes, beach cottages, room houses, etc.

I have been asked by those looking to rent why they need to pay this-- it is the law and the landlord will need to pay this and it is usually passed on to the renter.

Those landlords that are collecting this tax from their tenants need to be sure they are turning over the money to the tax collector's office; those that are not are still subject to the tax.

Palm Beach County Tax Collector Anne Gannon said beginning in June or July, she plans to send staffers to condominiums and vacation rental properties across the county in order enforce the "bed tax" on those who are not in compliance.


As a local Relator, I am aware of the trends in the US market as well as in many of the communities in which I specialize. If you are thinking of selling or buying a home, please feel free text me or call me at 561-247-3550.

For free home searches, please text me your name, e-mail address and phone number or visit my Web-site at http://homes.MYsouthFLrealestate.com

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Member of Who's Who in Luxury Real Estate
Lang Realty
561-247-3550
http://MYsouthFLrealestate.com

Referrals are appreciated and welcomed.

Boca Raton FL real estate for sale and surrounding areas including real estate properties for sale in: Belle Glade, Boca Raton, Boynton Beach, Bryant, Canal Point, Dania, Deerfield Beach, Delray Beach, Fort Lauderdale, Hallandale, Hialeah, Hobe Sound, Hollywood, Indiantown, Jupiter, Key Biscayne, Lake Harbor, Lake Worth, Loxahatchee, Miami, Miami Beach, North Miami Beach, North Palm Beach, Opa Locka, Pahokee, Palm Beach, Palm Beach Gardens, Pembroke Pines, Pompano Beach, South Bay, West Palm Beach, Lang Realty

Should I Buy A Home Or Continue To Rent?

The current market conditions bode well for home ownership. The "buyer's market" continues even at a time when mortgage interest rates are at historically low levels. The south Florida residential real estate market seems to continue to let "air out of the housing bubble." These factors are helping to make it more affordable to buy a home in south Florida than to rent. Now is a great time to consider the purchase a home.

Why now?

"Buyer's market"- Taking advantage of a "buyer's market" along with low mortgage rates makes for a compelling case.

Favorable mortgage rates- Rates are currently less than 5%. Each 1% increase in rates can add as much as 19% to the cost of a home. If you qualify for a mortgage, now might be a very advantageous time to buy.

Steady cost- With a low mortgage rate, locked in for a 30-year period, you have a fixed cost related to the monthly mortgage payment-- rents can increase.

Tax deductions- Homeowners also enjoy a mortgage interest deduction, which allows them to deduct all the interest paid up to $1 million in mortgage debts. Tax credits are also available for owners who make certain improvements, such as energy efficiency.

Control- you can change the colors of the walls, landscaping, etc.

Also, your property could build equity and help hedge against inflation.

As a Realtor and Certified Distressed Property Expert (CDPE), I can help assist homebuyers and investors with due diligence, information on communities, determine buying power and negotiate on their behalf.

Please call me if you are thinking of purchasing a home in south Florida.

Michael Friedman
Realtor, Certified Distressed Property Expert (CDPE)
Lang Realty
561-989-2100