Rental prices in Miami increased 65% in recent months

blog-post-image

The price of residential and commercial rents in the United States has been experiencing constant increases, due to a shortage of inventory and the increase in tenants looking for housing.

If we analyze rent prices from March 2020 to March 2022, we can determine an increase of up to 65% in some cities in Florida, resulting in more than 20,000 evictions of tenants in recent years. 12 months.

A government commission approved In March 2022, a law was passed that requires property owners to notify their tenants, 60 days in advance and in writing, if they plan to increase more than 5% of the rental price.

This same law also urges homeowners to notify 60 days in advance of the expiration of their tenant(s) contract.

Daniella Levine Cava, mayor of Miami-Dade, closely follows this housing crisis for those who live in rent, increasingly seeking to alleviate the pressure of tenants, but also keeping in mind the interests of landlords.

Difficult days for those who pay rent

There is a great demand and a low supply of properties available for rent, this makes the rental market, especially in Miami and nearby cities, a difficult market, where there will be competing among many prospects for the same home. If you were considering moving you should really think about it.

The most advisable thing is that you have the support of a Professional Realtor, who knows the area in which you want to live and has skills to negotiate. Renting nowadays is very difficult but not impossible if you have the support of a professional.

Leave a Comment

FREE CONSULTATION

Schedule a free consultation with a specialist.

Schedule appointment
Help Center

Do you have questions or want more information? Call now

Contact us

Subscribe to our newsletter

Get tips, news, and real estate trends

    Follow us