Rent prices-Help!

[Coconut1]

Originally Posted by NATEBEAR

I'm looking at Miami Beach (first choice as it's zero commute), Pinecrest or as a last resort Parkland...

Well this explains the price...

[valicky]

Originally Posted by Coconut1

Well this explains the price...

Sure does. The price seems reasonable for those areas to me.

[NATEBEAR]

Originally Posted by Coconut1

Well this explains the price...

Right...however, they JACKED up the prices. I'm sorry but in this economy who the hell can afford $7,000/mo rent?? Even if I could, I wouldn't use that much of my income on RENTING someone else's property.

[valicky]

This reminds me of when my husband goes to give an estimate - say at the Ritz Carlton to a very wealthy head of a sports department - and keeps being asked to sharpen his pencil and the customer bellyaching about how poor they are. Meanwhile my husband is driving to the estimate in his 1989 Chevy pickup. That's '89 not '99! If you want a house in Miami Beach, Pinecrest or Parkland, you'll pay $$$$. If you want a deal come on out to the lowly less disireable areas like West Kendall.

[valicky]

Originally Posted by NATEBEAR

Right...however, they JACKED up the prices. I'm sorry but in this economy who the hell can afford $7,000/mo rent?? Even if I could, I wouldn't use that much of my income on RENTING someone else's property.

Have you checked realtor.com? I saw some properties in Pinecrest and Miami Beach for $3k to 5K.

[NATEBEAR]

Originally Posted by valicky

This reminds me of when my husband goes to give an estimate - say at the Ritz Carlton to a very wealthy head of a sports department - and keeps being asked to sharpen his pencil and the customer bellyaching about how poor they are. Meanwhile my husband is driving to the estimate in his 1989 Chevy pickup. That's '89 not '99! If you want a house in Miami Beach, Pinecrest or Parkland, you'll pay $$$$. If you want a deal come on out to the lowly less disireable areas like West Kendall.

I hear ya. I respect the value of labor. Anyway, let me give you the example: 4/3 in Miami Beach last week (& for the past 4 months) renting for $2,900...Fast forward to today: same ugly house renting for $5,600.

[MiamiRob]

Originally Posted by NATEBEAR

Do you happen to know exactly how that works? Do the realtors get a set fee for finding a renter? I've noticed that a realtor will re-list a home from the MLS onto Craigslist and increase the rate by a few hundred $s a month...seems like they get the difference between what the owner wants and whatever the realtor can squeeze out of the tenant.

Well first of all that would a violation of the Board of Realtors and the Realtor can lose their license for commiting a fraudelent act. The only way a Realtor can do something like this is if the Owner/Landlord agreed to such a scheme since you would be singing a lease spelling out the rental price.
There is no way a Realtor can jack up the price on a rental on his own without the Owner/Landlord knowing.

Miami Beach & Pinecrest are very expensive to rent especually for a 4/2 single family house. Why don't you try areas further to the north of Miami Beach? Or on the mainland in areas near the bay like San Souci estates or Keystone in North Miami or Eastern Shores in North Miami Beach?

[NATEBEAR]

Originally Posted by MiamiRob

Well first of all that would a violation of the Board of Realtors and the Realtor can lose their license for commiting a fraudelent act. The only way a Realtor can do something like this is if the Owner/Landlord agreed to such a scheme since you would be singing a lease spelling out the rental price.
There is no way a Realtor can jack up the price on a rental on his own without the Owner/Landlord knowing.

Miami Beach & Pinecrest are very expensive to rent especially for a 4/2 single family house. Why don't you try areas further to the north of Miami Beach? Or on the mainland in areas near the bay like San Souci estates or Keystone in North Miami or Eastern Shores in North Miami Beach?

Thanks for the suggestion. Those are options as well. We've looked into those areas. A 4 bedroom is hard to find period. That's one reason I've narrowed the search significantly. I have 2 boys and a girl with significant differences in ages. Since, we'll be renting for at least 5 years, it's important to me to give them each their own space now.

I live in North Beach. I realize it's the least expensive area on the beach...because it's the sketchiest. Biscayne Point is nice, however, rentals don't come up as frequently.

Anyway, my post began as venting a frustration over prices. I don't want to give in and pay big $ and have the prices plummet and be kicking myself later. I was looking for info on a website that I might be overlooking...or the name of a reputable realtor.

[santiago33]

Renting is a hot market right now. There are approx 500-600 foreclosure auctions a week in Miami-Dade and Broward counties. My data shows approx 3,200 foreclosure auctions in those counties for the month of October.

From my understanding there's a backlog of over 10,000 foreclosure cases -- these auctions that are being held today are mostly from foreclosure cases filed in the courts in 2008 or really early 2009.

It gets better. Most people who don't pay their bank don't pay their association. These properties undergo 2 foreclosure as the association wants its fees paid.

https://www.miamidade.realforeclose....ethod=CALENDAR

[NATEBEAR]

My search today finds a 5 bedroom ocean front home renting for $7,200 (see craigslist-Golden Beach). Now THAT I would pay that kind of money for. Not a 4 bedroom home in Mid Miami Beach that is not even updated without a pool, not waterfront renting for the same $7,200. I find that ridiculous.