Renting Real estate in Miami
The process of renting a condo or house is relatively simple and takes on average from 2 to 3 weeks,depending on the length of the lease.There are vacation short term rentals that are anywhere from 1 month to 3 months and there is yearly lease. One thing you need to keep in mind : only few condominiums -around 10% will allow you to rent short term.In addition to that you will have to pay taxes on rentals for 6 months or less.
The Miami Beach vacation rentals tax information is as follows: Miami Beach properties have a 7% Florida State Sales Tax, 3% Miami Beach Resort Tax and 3% Dade County Resort Tax. The properties outside Miami Beach have a 7% Florida State Sales Tax and 3% Dade County Resort Tax.
With short term rentals ,as a rule,a landlord will require the whole amount of short term lease up front,plus the security deposit in case you will break or damage anything in the furnished apartment.This deposit is fully refundable if at the end of the lease period nothing have been damaged .Contract to lease will outline the all the deposits in writing so you will have a legal paperwork at hand should you have any questions.
If you wish to rent long term , the maximum lease period is one year. You can always renew the lease if the option is considered by the landlord.
STEPS OF THE RENTAL PROCESS
- After viewing couple condos with your Realtor you finally found the one you`d like to put the offer. To show the prospective landlord that your intentions are serious your offer needs to be accompanied by the deposit in the amount of one month. The landlord might also request recent pay stubs to verify your employment and credit report. This money will be kept in your Realtor`s broker escrow account and will go towards your first month rent if the offer is accepted by the landlord. In case the landlord had multiple offers and yours didn’t go through then the deposit will be immediately released to you back ,no questions asked.
- After your offer was accepted by the landlord , the residential lease agreement will be put together .It will have a detailed oultline of who will be paying for what ,dates the lease starts and ends ,deposit that have been taken .Along with signing the lease agreement you will have couple days to submit your application for approval to Condo or home association . It usually takes around 2-3 weeks for them to process your application and costs around $100-$150 to apply. They will run your credit report,background check and as soon as everything ready ,they will give you a call to schedule an appointment to tell you are approved and will go over the condo rules and regulations.
- Once you received a condo approval document and the date of you moving in approached , you exchange the leftover deposits ( usually last month rent and security deposit-remember you already paid for the first month with the deposit you gave at the beginning of the process) for the keys to the appartment.This process is very easy and quick if you have all necessary paperwork at hand and working with experienced Realtor. Click the link to browse all available rentals in your area—>Condos for Rent.
Search by most popular cities Aventura,Sunny Isles, Miami Beach ,Hallandale.
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