Landlord Business Booming in Florida

by Isaac Benmergui, Esq on March 18, 2012

With the housing market in South Florida still soft from the housing bust, one area of the real estate market is gaining steam. The rental market has been gaining ground with monthly rents expected to show a 3 to 7 percent growth in 2012.

Florida’s Distressed Properties a Good Buy

Distressed properties, those in foreclosure or about to go into foreclosure, drew buy-and-hold buyers willing to make necessary improvements before renting out the properties. With the government attracting buyer interest by selling off 210,000 foreclosed properties belonging to Fannie Mae, Freddie Mac and the FHA, investors are seeing an opportunity to stabilize their own bottom line by getting into the landlord business.

Potential buyers should be forewarned about buying a government subsidized property, however. Purchase agreements state the landlord must buy, maintain and rent the property out for a set number of years.

If you’re thinking about buying property for rental income, contact the law offices of Isaac Benmergui who can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

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