The Tampa Bay Rental Home Demand continues to accelerate. Contact the local agents at Relevé Real Estate now for expert property management.
The current tenant called and gave their 30-day notice they would be moving out. Immediately the ad went up and 24 hours later we had an application in on the property for $200 more than what the current tenants were paying.
Although this is a fast example, the Tampa Bay Rental Home demand for rentals has been soaring, where homes in good areas are only staying on the market 2 – 4 weeks. Many prospective tenants are aware of how quickly properties can go, especially in Lutz and Land O’ Lakes, where they know they have to immediately jump on something they like before it is gone. Owners are reaping the rewards of their investments like never before. No vacancy and increasing rental rates are keys to investors success.
From Wikipedia, Tampa is a city in and the county seat of Hillsborough County, Florida, United States. It is located on the west coast of Florida on Tampa Bay, near the Gulf of Mexico, and is part of the Tampa Bay Metropolitan Area. The city had a population of 346,037 in 2011.
Census data showed an average annual growth of 2.47 percent or a gain of approximately 97,000 residents per year. Between 2000 and 2006, the Greater Tampa Bay Market experienced a combined growth rate of 14.8 percent, growing from 3.4 million to 3.9 million and hitting the 4 million population mark on April 1, 2007.A 2012 estimate shows the Tampa Bay area population to have 4,310,524 people and a 2017 projection of 4,536,854 people.
If you had a tenant turnover and had your property sitting vacant for a month, then you would have to cough up the money for the mortgage, putting a $1000 –$1500 loss on the books, then it takes you a month to make it up and can kill your cash flow for the year and losing out on Tampa Bay Rental Home demand.