Brickell Commuting & Rental Buildings (Miami, Fort Lauderdale: real estate, apartments, car insurance)

[aarr2050]

Hi All,

I’ve got the job in Brickell. What are my options in terms of renting.

Monthly rent for 2BD $3.5K max. Is it realistic?
Where I can find the list of well managed buildings in Brickell that would be quiet and not very expensive?
What is the difference between renting via RE agent, owner, or directly from the building property management company? Which one would generally be cheaper?
Are building reviews on Apartments.com accurate or better cross check them on G Maps?
If I go with commuting: Aventura, Doral? Is it worth it? Looks like rents will be on average $500 lower and quality of the buildings slightly better.
Is Coconut Grove cheaper than Brickell? Or, the same for the same quality of the building?
Is it realistic in my price range to find something in Key Biscayne?
Is Kendall a good option for commuting?

Thank you all!

[Marc Middleton]

Originally Posted by aarr2050

Hi All,

I’ve got the job in Brickell. What are my options in terms of renting.

1- Monthly rent for 2BD $3.5K max. Is it realistic?
2- Where I can find the list of well managed buildings in Brickell that would be quiet and not very expensive?
3- What is the difference between renting via RE agent, owner, or directly from the building property management company? Which one would generally be cheaper?
4- Are building reviews on Apartments.com accurate or better cross check them on G Maps?
5- If I go with commuting: Aventura, Doral? Is it worth it? Looks like rents will be on average $500 lower and quality of the buildings slightly better.
6- Is Coconut Grove cheaper than Brickell? Or, the same for the same quality of the building?
7- Is it realistic in my price range to find something in Key Biscayne?
8- Is Kendall a good option for commuting?

Thank you all!

1 - Used to be realistic, now not so much. Maybe $4k+ for most 4-star buildings.
2- No list really exists
3- RE Agent will find you the place and get it done. Finding a direct owner is near impossible as they almost all use Realtors to list their properties and handle all this for them (most are absentee owners). Building's don't rent units either unless its an apartment building (like Solitaire). The apartment buildings will have a lower move in cost but they get you in fees and monthly add ons like pet rent, parking, amenities, etc. Plus you won't get free water/cable/internet like you do when you rent a condo
4 - Most people who leave reviews on housing are people that hated it, take it with a grain of salt. Happy people move out and move on, they don't leave reviews
5 - Rent is cheaper for a reason - buildings are lesser quality, you have less to do, more families, less young people, crappy traffic, etc.
6 - Grove is not cheaper and most of the buildings are older and offer less. Plus there is a LOT less inventory to choose from in the Grove vs the dozens of high rises in brickell that hold hundreds & Hundreds of units.
7 - Key Biscayne? probably not. Maybe 1-2 old buildings left that would fit the bill and it'll be furnished , no washer dryer in unit, etc. And you have a toll each day to pay
8 - Kendall - meh, why? Your job is in Brickell, live in Brickell/Downtown. Walk to work (or take a scooter or the MetroMover) - make life easy, sell your car, don't pay car insurance, walk to yoga in the park, restaurants, bars, movie theatre, take a train to the airport or Dadeland mall or Ft Lauderdale...Enjoy your new life

Back to #3 - if you aren't ready to make an offer on a rental right away with your R.E agent , don't waste our time. Just me being blunt. Places rent quickly, they go for over asking , people offer the whole lease up front sometimes, the buildings charge Security deposits, it takes 1-2 weeks to get approved, etc etc .You need a good agent and you need to be aggressive when you find 'the one'

[aarr2050]

Thank you for the info.
In other words, for 2bd in Q1, 2022, in Brickell I have to set aside $100,000 of pre-tax money for decent quality building. 12 x 5K x 30% Fed tax + 10K security deposit. Correct? This is compared to my $25K annual rent (pre-tax too) now.
Wow, lots to digest. I will look into Edgewater as buying is the only way out of this madness.

[Marc Middleton]

Originally Posted by aarr2050

Thank you for the info.
In other words, for 2bd in Q1, 2022, in Brickell I have to set aside $100,000 of pre-tax money for decent quality building. 12 x 5K x 30% Fed tax + 10K security deposit. Correct? This is compared to my $25K annual rent (pre-tax too) now.
Wow, lots to digest. I will look into Edgewater as buying is the only way out of this madness.

Yeah its now cheaper to buy in Brickell/Downtown than rent, first time in my 10 years of selling real estate I've made that claim!

[elchevere]

Miami has plenty of company at this point in time:

https://apple.news/A2fhj9HnZS0mkD9gAy5bEnQ

Originally Posted by Marc Middleton

Yeah its now cheaper to buy in Brickell/Downtown than rent, first time in my 10 years of selling real estate I've made that claim!

[blueherons]

Or rent in downtown Fort Lauderdale and take the Brightline to Brickell every day.

One of my clients just bought a loft walking distance to the Brightline station and commutes every day. The ride home from Brickell is less than 30 minutes and she walks home.

[aarr2050]

Is it safe? That is a major concern here in SoFl