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]

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]

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]

  One of the biggest decisions you'll make as a landlord is whether you should hire a property management company. Many landlords manage properties on their own or with the help of an employee, such as a resident manager. However, sometimes landlords need more help, and that's when a property management company might make sense. Property management companies can be a huge asset to your business, but they don't come cheap. There are other reasons why you might not want... [read more]

Miami developer Sam F. Sami of Saba Group has proposed his second condo building in Bay Harbor Islands. The pair of islands between Miami and Bal Harbour has attracted many mid-rise condo projects. According to CraneSpotters.com, there are 36 condo projects with a combined 1,663 units in the pipeline in the Bay Harbor Islands/Bal Harbour/Surfside market. In November 2015, Sami’s company received approval for the 45-unit ParisA at 1145, 1155 and 1167 100th Street. That project has... [read more]