Out-of-state investors have always known that rental properties in Florida make excellent investments. When you’re thinking about adding a Weston rental property to your portfolio, you’ll want to know what this means for your cash flow and your long-term ROI. There are a lot of opportunities here, and a local Weston property manager can help you set yourself up for success.
High Rents and Stable Tenant Pools
The increase in rental values has not been as high as in past years, but given the economic uncertainty the pandemic brought to other rental markets across the country, we’re pretty satisfied that rents still managed to go up one or two percent in Weston over 2020 and into 2021. We expect rents to continue to remain stable or to creep a bit higher. Tenants in Weston are willing to pay top dollar for
well-maintained properties in desirable locations.
The demand for good rental housing is high, and there are plenty of tenants for investors to choose from when it’s time to market their properties and fill their vacancies. A lot of people have relocated to Florida over the last year, and that’s given us a healthy pool of well-qualified residents. Investors won’t have to worry about stalled rents, extra inventory, or high vacancy and turnover numbers.
Weston is Great for Short Term and Long Term Rentals
Another thing to consider when you’re investing in Weston rental property is that this is a unique market for both long term rentals and short term vacation properties. Southeast Florida is always going to be a popular tourist destination. If you decide you don’t want to rent your property out on a long term lease or you can imagine a scenario where you use the property yourself for part of the year, you can still earn some good money in the short term rental market.
Florida is a Landlord-Friendly State
When you add a Weston rental property to your investment portfolio, you’re making a smart business decision. Landlords in Florida don’t have to worry about rent control, strict eviction preventions, and extra fair housing requirements. It’s important to understand the federal fair housing laws and follow all the laws pertaining to security deposits, habitability, and notices that apply to rental increases, entry, and leasing, but there are fewer hoops to jump through when you’re renting out a property here.
Weston Property Management is Critical
