According to the latest research on the real estate market, it seems that renting it in Florida is very convenient ! Who among us has never wanted to spend a vacation in one of the most beautiful places in Florida?
Miami , Orlando , Tampa , Jacksonville … are just some of the most desirable destinations, especially for holidays. But it seems that for the owners of a rental property, this is a perfect time. But what were the strengths behind this unexpected phenomenon? To find out, simply read the next few lines. We have carried out a very detailed analysis on the subject. We will explain it in the following paragraphs.
Let us get started!
How much would it be worth to rent a property in Florida? According to the main statistics, we are talking about a general economic impact of USD 27 billion.
Whether it is renting an apartment, a studio apartment or a condominium, when it is rented, the national economy receives a considerable boost. Tenants stay in the real estate market for up to 30 days. This means that the rental market is quite dynamic and provides over 100,000 jobs for people who live purely from tourism. Which is no small thing, considering that the tourism sector is the driving force for Florida.
We have to decline the significant economic impact .On the basis of direct and indirect expenditure related to the rental sector.
We are talking about approximately USD 16.6 billion of direct expenditure and USD 10 billion of indirect expenditure.
Both support around 115.000 jobs. We have to consider that there is one place for every 114.000 dollars.
In addition, it is the increase in tourist flows that has helped to maintain this situation. Since 2018 there has been an increase of 14,000,000 individuals, or 11% of total tourists in 2020.
Numbers that bode well, in a sector that is not totally new but still expanding.
Everything would not have been possible without the adoption of local policies to support tenants and their officials. The possibility of accessing data from an open system without too much bureaucracy allows for considerable economic speed. In addition, potential tenants feel confident in this very linear situation and decide to enter the real estate rental market.
Analyzing the main counties, ( 25 ), about 89% of the total houses are rented monthly. Which means only one thing. A flourishing situation in every sense !
But what will the future forecast be like? The beauty of Florida, together with a system like the rental system, so stable and so interesting in the eyes of potential subscribers, will probably continue to emerge in the American real estate market. Now you have understood how renting in Florida is convenient
And you, would you like to discover Florida?
Read also: Property for sale in Florida
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