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Hourly Wage Needed to Rent a 2-Bedroom Home in Every State

Monday Jul 15th, 2019

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Shutterstock Unless you've lucked out with a dream subsidized housing scenario or managed to scoop up a beautiful home for $1, you're probably less-than-stoked at the size of the rent check you have to cut every month. That's especially true if you live in a market where real estate prices have skyrocketed in recent years. In fact, the harsh reality is that there's not a single state, county, or city in America where a full-time worker... [read more]

Dell Technologies founder buys Fort Myers rental complex

Monday Sep 18th, 2017

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A family investment firm formed by Michael Dell, the founder of Dell Technologies, partnered with another firm to buy an apartment complex in Fort Myers for $66 million. In late August, the Dell family’s MSD Capital L.P. and Los Angeles-based TruAmerica Multifamily acquired the 640-unit apartment complex, called Sienna at Vista Lake, for $103,125 per unit. Matthew Ferrari, director of East Coast acquisitions for TruAmerica, told the Business Observer that the $66 million... [read more]

Apartment rents expected to keep rising despite new deliveries

Thursday Aug 31st, 2017

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Nearly 16,000 apartments are slated to come online in South Florida this year, but rents are still expected to keep rising, according to a new report. Apartment rents rose annually in Miami, Fort Lauderdale and West Palm Beach in June, according to Marcus & Millichap’s multifamily report. In Miami-Dade, rents were up 8.8 percent in the second quarter, year-over-year, to nearly $1,450 a month. In Palm Beach County, rents increased 3.5 percent to just over $1,500. And in... [read more]

Two Orlando-area rental properties sell for $32 million

Tuesday May 30th, 2017

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Tampa-based apartment investment firm Avesta paid $32 million for two Orlando-area rental apartment properties with a total of 354 units. Avesta merged the operations of the two properties in the Altamonte Springs suburb of Orlando, Altamonte Villas and Palms at Altamonte, and rebranded them as East Pointe at Altamonte. The Tampa firm also has started a $5 million renovation of the merged rental property, located near Uptown Altamonte and an outdoor event venue called Cranes Roost... [read more]

Pompano Beach joins other South Florida cities to enact rules on short-term ‘party’ rentals

Friday May 26th, 2017

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Pompano Beach will seek approval from the city next month for new rules limiting short-term rentals, to deter partiers in the wake of complaints from residents about traffic, trash, and noise. The regulations would require city permits for homes, duplexes, triplexes, and quadplexes seeking renters for six months or less, and would affect an estimated 7,000 properties, the Sun-Sentinel reported. Those looking to put up their property for rent short-term would have to register with an... [read more]

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