Trying to find a property in South Beach for rent, if you don’t know what you are doing, can be kind of a painful process. First you have to decide what you can get for your money, second narrow down the area, the building, the unit and then the real work starts. Next one has to prepare the offer to the owner, the paperwork for the owner, the association, the deposits and more. It’s imperative to work with someone who knows how to work, is eager to work for you and wants to help you get the job done.
If you are looking at properties in South Beach for rent, it’s important to know that many of the rentals in South Beach do not allow short terms rentals of six months or less. Many also do not allow rentals of less than one year. But if you must rent short term, contact an agent who specializes in short term rentals.
#1 Tip Use an agent, who knows the rental market and knows what’s going on.
It’s best that I first explain how the rental process works in Miami and Miami Beach.
If you look around South Beach you will notice that most of the buildings feature a couple of condos or hundreds of condos. These individual condos are owned by individual owners. Due to the nature of the rental process: advertising the property, showing the property, handling deposits and the application process; many owners hire a real estate agent to process the rental. Many owners are not full time land lords and/or are not local. They just don’t have the time to secure a new tenant for the property.
Many owners hire Real Estate agents to list their properties for rent in a large database called the Multiple Listing Service. The owner sets a commission for the rental and if the owner’s agent finds the renter he/she gets the full commission, if another agent brings the renter to the listing, the commission is split. In many ways it’s very similar to a sales transaction.
The most misunderstood part of this process is many Renters think they need to call many different agents to see many different properties. This is not the case. If you can find one agent that you like working with and trust, that real estate agent (if they are registered with the local MLS) has access to all of the properties available for rent in that large database. It’s easier to hire one agent to do everything for you. They can look up the properties based on your criteria and price point, schedule the appointments, show you everything and from there help you through the transaction process once you find a property you like. **The service fee is usually free for the renter because the owner pays the agent’s fee for securing a tenant. (Always ask this in advance.)
If you are looking for a rental in South Beach, it’s key to find an agent who specializes in rentals in South Beach. This way you will be assured that you are working with someone who knows the buildings and knows the ins and outs of the process.
#2 Not all agents are created equal. Use the ones who return your calls timely. Who are quick, efficient and streamlined.
First impressions are everything. If from the first beginning stages of contact, your impression is that the agent is not calling you back in a timely manner or responding to your emails fast enough…. move on and find someone who wants your business. Find someone who knows what they are doing; is quick, streamlined and efficient in their processes.
#3 Use an agent who asks a lot of questions. Asking a lot of questions qualify your needs and expectations is a good thing.
Sometimes when people call me and I start asking a lot of questions, I get the impression that they don’t want to share. It’s important to know that there are a lot of little nuances in the rental business and we need to make sure that we know precisely what are your expectations, so we don’t waste any one’s time.
A few of the main criteria is the following:
1. Are you ready to move within the next 30 days? ( It doesn’t make sense to start looking until you are close to this time frame. Owners typically will not hold a unit more than 30 days out and the inventory changes frequently.)
2. How much can you afford per month and do you have this amount times three? (first, last and security deposit is pretty standard in Miami.)
3. Do you have pets and how much do they weigh? Not all buildings in the area accept pets and although the owner’s agent may write on the listing PETS OK, they may not have checked with the building’s rules to find out if building allows pets. And then of course the next statement that always follows is: “But Jamey, I have seen pets in that building.” and I reply with, “Yes, I know but the building just changed the rules to allow only owners to have pets in the units and/or the renters who have pets are grandfathered in.”….. Unfortunately this happens A LOT.
4. Are you working with any other agents? This is one of the main questions that Realtors are supposed to ask prior to working with new clients. In our field it is considered unethical to work with clients who are also working with other agents. Plus it doesn’t make sense. Find one agent that has access to the MLS database and have them show you all of the properties available.
Good agents ask questions to save you time. Why look at 50 units that don’t match your needs when you can look at 10 that do?
In conclusion….
Finding a rental in South Beach can be an easier process if you work with an agent who knows the rental market. I have had many client tell me that they couldn’t believe all of the paperwork required for renting and the process for renting in Miami and Miami Beach. Be sure to work with a professional who knows how to best assist you and protect your best interests.
South Beach for rent & surrounding areas- 1 bedrooms- from $4000
South Beach for rent & surrounding areas- 2 bedrooms- from $5000
South Beach for rent & surrounding areas- 3 bedrooms- from $6000
Interested in buying or selling a Miami Beach Luxury Home or Condo?
Jamey & Ognjen Prezzi are Miami Beach Luxury Home & Condo specialists and
we welcome the opportunity to help you buy or sell in Miami Beach Real Estate.
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Call us today: 305-793-8965 Email me: jameyprezzi@gmail.com
Copyright © By Jamey Prezzi 2010 * All Rights Reserved* South Beach for rent
~ Avid Real Estate Estate Blogger for this Award Winning Blog~We work with Renters, Sellers & Buyers in Miami Beach, Brickell, Downtown Miami & Midtown Miami. We have a strong passion for our business and 
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