If you're looking to move on up in Miami on the cheap, your best chance may be now.
South Florida developers are looking to fill up their buildings any way they can, which means condos which used to be untouchable for the common South Floridian are now for rent.
"This is a great opportunity for renters to actually go ahead and purchase property," said Melanie Hyer with Keller Williams Realty. "This is great for people who are looking for a place to live because the rental prices - there's going to be a lot of competition - and prices are going to go down."
With over 10,000 available rentals in Miami-Dade and over 8,000 available in Broward, people once doomed to low-end rentals are now living the lap of luxury.
Just a few weeks ago Michael Davila was spending his time in the dorm at Barry University. Soon he'll be living large in 900 square feet in the ArTech building in Aventura on just his salary from a fitness center.
"I think this place is awesome, I'm excited to be moving in here," Davila said. "I definitely see more lease options available, so more of my friends are moving into places."
The ArTech features a gym, a spa, even a boat, all at Davila's disposal, all for just $1,300 per month. And the fact that ArTech is allowing the rent money to go towards a purchase of the unit is only sweetening the deal.
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"It allows a lot of people that wouldn't generally be able to afford to come into a building like this," said Asher Ouazanan with ArTech.
And with more condos opening this summer, the deals are expected to get even better.
