Miami rents up 58% in 2 years

[HJCane]

And luxury condos the rents have doubled.
This is a DIRECT result of AIRBNB and VRBO + the influx of new residents. The buying of investment properties for short term stays in an area with nightlife and beaches HAS KILLED the ability to buy or rent a home. It's destroying housing,

 

[NO.SHORECANE]

Son lives in Brickell. Unit above him just went from $3500/month to $7000

 

[thedonaldWYO]

Son lives in Brickell. Unit above him just went from $3500/month to $7000

No.Shore- Is that in a calendar year or seasonal? The townhouse I had in Wellington 5 minutes from the equestrian complex and 5 minutes from the international polo club would gross me $7-8k/month for polo peeps or $9-10K for equestrian but for 4 to 5 months out of the calendar year.

 

[NO.SHORECANE]

Not seasonal.

 

[Neil 212]

I’m in Coral Gables and my rent has gone up only about 30% in two years.

 

[deuce1906]

It happened to me. I just had to move my rent was $3450 landlord doubled it to $6900. And even if I wanted to renew besides being there 3 years and never missing a payment he refused to even offer me the opportunity to stay. Told me my lease was “non renewable”

 

[NO.SHORECANE]

Wow! What an asshole. Lots of people being forced out of Brickell.

 

[Neil 212]

It happened to me. I just had to move my rent was $3450 landlord doubled it to $6900. And even if I wanted to renew besides being there 3 years and never missing a payment he refused to even offer me the opportunity to stay. Told me my lease was “non renewable”

Where is that?

 

[deuce1906]

Where is that?

Edgewater. One of the paraiso buildings

 

[htcane]

And the problem is it’s so expensive to buy. I worry a lot about where my 2 kids will be able to afford to live.

 

[Neil 212]

It happened to me. I just had to move my rent was $3450 landlord doubled it to $6900. And even if I wanted to renew besides being there 3 years and never missing a payment he refused to even offer me the opportunity to stay. Told me my lease was “non renewable”

Why did he not want you to as a tenet if you were willing to pay his price?

 

[deuce1906]

Why did he not want you to as a tenet if you were willing to pay his price?

It wasn’t even offered to me as an option. They wanted me out. Even tho even during the pandemic I paid my rent in full on time.