Another Reason to Invest in Sarasota Real Estate
From today's Tampa Bay Times: Another Apartment Complex Headed to West Shore Read the article here: http://www.tampabay.com/news/business/realestate/another-new-apartment-complex-headed-to-westshore/2173589 Why is this a reason to invest in Sarasota real estate, as opposed to the Tampa area? 1) Building apartments indicates a weak demand from home buyers. In the Sarasota area, builders are focusing entirely on single family homes and villas; 2) Apartment complex rentals are usually at a lower rental rate than single family home rentals; 3) Individual investors trying to rent existing condos or single family homes have to compete against resort-style amenities in new apartment complexes; 4) Bringing new apartments into existing rental inventory increases rental property supply and drives down demand and rental rates; 5) New apartments are usually lower-quality stick built above the first floor, while new condo construction is usually concrete block with incre...