Investors eying opportunities for rental properties in Manatee-Sarasota area would appear on the right track if they narrow down their choices to residences which would appeal most to the baby boomers or new retirees.
According to RealtyTrac, a web-based housing data provider, Manatee and Sarasota Counties respectively ranked as 14th and 15th among the leading U.S. destinations for baby boomers who seek rental homes. Notably, many baby boomers had their retirement nests and investment portfolios adversely affected by the Great Recession, significantly hampering their purchasing power.
Some of them underwent foreclosures and short sales, and now feel that their purchase of a residential property is not advisable in the short term. Hence, for many of these people in their fifties and sixties, renting in Florida comes as an opportunity to enjoy their desired lifestyle revolving around beaches and warm climate but minus the burden of home buying.
Baby boomers also generally want active-living amenities and gated neighborhoods, a prevalent need that has likewise been identified by some developers of senior living communities in the Manatee-Sarasota area. In Lakewood Ranch, two additional senior lifestyle developments are on the drawing boards at the northern and southern portions of the master-planned development.
The Grand Estuary condo neighborhood in the River Strand golf community in Bradenton offers some investment opportunities on condos rentable to baby boomers.
The gated River Strand, located just east of Interstate 75, is one of the residential developments at the 2,500-hectare Heritage Harbour. In addition to a 27-hole golf course, River Strand’s amenities include a clubhouse with dining room and swimming pool, among other facilities for socials, physical fitness and recreation.
Bella Villino at the Central Sarasota Parkway is another potential destination for investors seeking rental properties suited to retirees seeking an active lifestyle. This gated neighborhood is a coastal property located near Siesta Key, reputed as one of the top beaches in the U.S. and storied for its pristine white sands.
The available units in this condo have floor areas of between 661 and 759 square feet, designed with 1 bedroom and priced in the low $100s, attractive propositions for those in search of investing in rental properties. This condo community offers maintenance-free features and amenities unmatched in condominiums in its comparable price ranges.
The gated Bella Villino has low monthly homeowner association fees. On-site management and maintenance offices help ensure regular and efficient upkeep of the condo’s facilities. These include a clubhouse, a well-equipped fitness center, playing courts for racquet ball, indoor basketball and tennis. Residents also have access to a heated pool, billiards, picnic areas with gas grills, and a business center.
SARASOTA, FLORIDA, October 7, 2019 – Property values of communities in the Sarasota-Manatee region now face lesser threat from neighborhood eyesores brought about by abandoned, foreclosed homes. Known in the real estate trade as zombie foreclosures, these properties have shrunk significantly in the region. According to an August report of ATTOM Data Solutions, abandoned […] more>>