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Northerners Sick of Lock-Down Drive S. Fla. Rental Boost

Many residents of high-rise, high-density cities seem to see Fla. as their best alternative. A Miami-Dade broker says out-of-towners’ interest is up 25% year-to-year.

MIAMI – The South Florida rental market is experiencing extremely strong demand – largely from residents in other states.

Despite Florida’s own struggles to rein in the growth in coronavirus cases and related shutdowns, it continues to draw people looking for a respite from the risks of dense urban living.

“They are showing up in droves,” says Berkshire Hathaway HomeServices EWM Realty broker Christoper Zoller, who reported a 25% increase of out-of-towners looking to rent in Miami-Dade compared to last year. “They are fleeing high density, high-rise locations. They are learning to work from home, or they can work from common spaces.”

According to Valeria Rodriguez, a real estate advisor for the Atlas Team that operates under Compass, the work-from-home movement has given people more freedom to choose where they want to live. This fuels demand for rentals and properties in the Miami area, which offers desirable weather and good school districts, among other benefits.

Rodriguez says many renters migrating from other states use rentals as a stopgap while they look for something to buy.

Even though Miami-Dade County currently bans short-term rentals, it hasn’t stopped inquiries about them, adds Cervera Real Estate managing partner Alicia Cervera Lamadrid. She says rentals are a great way for agents to get a foot in the door with clients who will eventually become buyers.

Source: Miami Agent Magazine (07/13/2020) Hemmersmeier, Sean

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