Would you buy a home in a neighborhood full of rentals? (Sarasota: renters, houses)

[Carbondated]

I'm wondering if potential buyers are staying away from buying houses in rental neighborhoods?

Example, a neighborhood in 2003 had 3-5% rental homes and now in 2008, has as much as 40-50%.

Would this be a deterent to you purchasing a home in this neighborhood?

I ask because I am seeing tons of these neighborhoods in Sarasota County now and though the prices of these houses are now more "affordable" it makes me wonder.

[Racelady88]

My last house was in a rental neighborhood. I will not make that mistake again. Much of what I see in Bradenton that is starting to have a more sensible price is in rental neighborhoods. Homes in areas that are predominately owner occupied are not reflecting realistic prices yet. I am guessing the investors are trying to cut their losses with the lower end homes in the less than desirable areas.

Having said that I am currently renting. However, I have been a homeowner for so many years that I have a homeowner mindset. None of the neighbors know that we did not buy this house. The yard is immaculate. There are no loud parties. We bring our trashcans in right after the trash men empty them. Our dog does not bark incessantly.......

[Oobie119]

No I wouldn't-- too many migrants and snowbirds would surround me. That would make me uncomfortable. I want to be aware of my neighbors. I don't want to have strangers moving in around my all the time.

[gypsychic]

It is VERY disconcerting to have transient people moving in and out of your neighborhood all the time. Having one or two rental homes in the area is one thing, but if the neighborhood is half empty half the year, it's downright unsafe, IMO.

Definitely not recommended.

[nicolem]

Originally Posted by gypsychic

It is VERY disconcerting to have transient people moving in and out of your neighborhood all the time. Having one or two rental homes in the area is one thing, but if the neighborhood is half empty half the year, it's downright unsafe, IMO.

Definitely not recommended.

Absolutely-I agree.

[Joe_Ryder]

I wouldn't even rent in a neighborhood full of rentals.

[outsider1]

Depends on the neighborhood and the type of renters. Wouldn't have too many doubts about buying in Venice or several good areas in Sarasota where most of the renters are better off snowbirds. But, considering current economic situation, would be extremely hesitant about year-round-renter-dominated area.

[Sunnydee]

No, I would not want to live in any area full of renters. I want to be in a community where people are invested in the neighborhood. A place where people know and care about each other and their property.

[Carbondated]

Does anyone know a website or something that you would tell you the current percentage of houses in a neighborhood that are rentals?

[PaulaC]

I don't know of a website just to give stats about rentals, but you could do some research through the county property appraiser's office. Look for properties that do NOT have homestead exemption on them and you could assume (yes, I know what that means) that they are not occupied by the actual owner and could be a rental. You may also call the property appraiser's office and see if they have rentals statistics for various areas in the county are interested in.