Monday, September 12, 2011
Rental Condos: Concord vs. Owners
If you are an owner trying to rent out your condo you will find that you are in serious, and probably losing, competition with prices as Concord is asking less than owners for the Developers unsold 56 units.
Although renting from an Owner requires less BS and paperwork and it will probably get you a unit in a nicer part of the complex, the lower prices for the Concord/Developer units give their renters a $150-250 a month savings and almost a half price for the Security Deposit.
Can an owner rent out their units? Sure they can, but probably not until the Concord units are full and if they go head to head in pricing it might be difficult to break even. Owners renting out their units might mean taking a loss every month, some Owners just can't hang on and have to let them go in foreclosure.
For Concord prices see: http://www.nautiluscove.com/Apartments/module/printable_brochure/property[id]/20254/ and http://www.rent.com/rentals/florida/panama-city-and-vicinity/panama-city-beach/nautilus-cove/664494/