As one of the most beautiful cities on earth, Miami is known for a lot of things but cheap real estate isn’t one of them. In order to rent that perfect beachfront property or live in an exclusive, hi-rise apartment building you have to be in the know and ready to write a check for your security deposit on the spot. Even with a sizable amount of money available for your deposit and verifiable income, many renters find it more advantageous to seek out private property owners. The next four reasons listed below by real estate specialists at Monetary Library detail why and how you can get the edge in the Miami beach real estate industry by seeking advertisements that are listed, ‘for rent by owner.’
1. More Flexible Lease Terms
Would you rather pay your rent on the 15th of the month rather than the 1st? And what happens if you decide to add another occupant to your lease at a later date? With a Miami home that has been listed by the owner, renters usually find that it is easy to make changes to the terms of their leases in a shorter period of time.
2. Easier Ways to Pay the Rent
Some renters only want to pay their rent in cash, and it has nothing to do with money laundering or hiding illegal sources of funding. There are simply those who still cash their paychecks and have no interest in maintaining bank accounts for personal reasons. If you are interested in homes in Miami beach, you may have issues when you are looking for rentals via a large property management company. By contrast, private owners will be happy to accept your cash rental payments, as long as they are made on time.
3. Relaxed Credit Requirements
When you apply for an apartment in Miami that is owned by a management company, your credit will be scrutinized, analyzed, and you may be asked questions about entries that are more than five years old. Of course, you can’t expect the apartment rental process to be easy if you have a spotty credit history, but you don’t want to feel discouraged just because your payment history isn’t perfect. If you rent your apartment or condo in Miami directly from a private owner, you can have a chat about the reasons for past credit issues and learn right away whether or not you are a good match.
4. Communicating with a Person Not a Corporation
If you have rented a Miami home by way of a management company, you know what it is like to call and speak to a teleprompter rather than a human being. Additionally, your emails detailing problems may get auto replies in response. Sometimes working with large rental management companies means that maintenance gets sent to your home at the wrong time, or they come prepared to fix the problem. When you want to get an immediate response concerning your Miami rental, going through the owner is often your best bet.
The views from Miami beachfront properties are phenomenal and the setting is pleasant year round. If you want to live in this expensive yet diverse city and you don’t want to purchase a home just yet, renting from a private owner is the best way to lay down roots.