Sarasota Home Market Thrives on Rental Investments


SARASOTA, FLORIDA, January 27th, 2014 – Recent US Census Bureau data affirmed the sustained growth of home rental investments in Sarasota. Renter-occupied homes in the city rose to 45.5% of all residences in 2001–2012 from 38.7% in 2007–2009, according to a recently released bureau survey.

Conversely, owner-occupied homes, which accounted for 61.3% of all residences in 2007–2009, dropped to a 54.5% slice of total housing units during 2010–2012. In comparison, the percentage of owner-occupied homes in nearby cities Venice and North Port remained steady at 70% during the two comparative three-year periods covered by the survey.

Its high concentration of young population yet to settle down can make Sarasota attractive to home rental investors. An estimated 37% of the city’s residents currently belong to the 18–24 and 25–44 age groups.

Significant boost from tourism

The positive results of the aggressive campaign of Sarasota’s tourism agencies to draw more visitors provide further incentives for investors eying home rental business opportunities in the city. A new survey by the tourism marketing agency Visit Sarasota County found out that leisure bookings for winter 2014 are now already trending ahead of 2013’s pace which was a record for the local travel industry.

Notably, the full lineup of Sarasota summer festivals this year segued to events this fall which are traditional tourist draws for the city. In October, the fifth annual Ringling International Arts Festival was held, followed by the 25th St. Armands Circle Fall Art Festival in early November.

The annual Sarasota Chalk Festival likewise unreeled this month on the streets of Burns Court in the city’s downtown. . Along with music, drama, and dance, this six-day cultural festival features not only theme-based pavement art but also their artists’ studio works

Cultural Coast title

Plaza at five points

A sand sculpting competition, now on its third year, was likewise held in nearby Siesta Key last November, thus bolstering further Sarasota’s appellation as Florida’s Cultural Coast. Dubbed as the Siesta Key Crystal Classic, the event converts the pristine white beaches of the barrier island into an outdoor gallery. It flaunted impressive sand sculptures rising to as high as 10 feet and rivaling similar artworks carved out of marble.

In time for the gift-giving season, the indie craft fair Atomic Holiday Bazaar is set too for this mid-December. Sarasota’s historic Municipal Auditorium, remarkable for its circa 1938 art deco design, is the traditional host for this one-of-a-kind handicrafts fair which is now on its eighth year.

Downtown condo choices

Plaza at five points

Fittingly, a search for an investment in a rental property in Sarasota can focus on downtown residences which have a ringside seat to many of the arts and cultural events in the city. There’s a new listing, for instance, in the MLS of Sarasota downtown condos for sale at the Plaza at Five Points located on Central and Main one block away from where “Art Walks” are held every first Friday of the month.

This available property is a two-bedroom unit with a floor plan of 1,831 square feet, with an asking price of $1,150,000. There are only 52 units in the Plaza at Five points and this location is the best in the city for those seeking to be in the center of it all.