Florida is seeing the highest rent increase in the country, 29% since the first of the year, according to a Lending Tree report.Renters in Tampa, Florida have seen their rent jump 24% since July, 20% in Central Florida, and 36% in South Florida since October, 32% Jacksonville and there doesn’t seem to be an end in sight.
While this may not be what renters want, it has multifamily investors very excited. Wink News reported:
Analysts at Quote Wizard said the issue is worse for people looking to rent someplace new.
In Collier County:
49% increase in rent overall since January 2021
45% increase in rent since 2019
Average 1-bedroom costs $1,744 compared to $1,169 in January
In Lee County:
23% increase in rent overall since January 2021
45% increase in rent since 2019
Average 1-bedroom costs $1,267 compared to $1,031 in January
Staying ahead of the game and attracting the new demographics in renters, means lifestyle and forward amenities. Targeting renters needs and supporting a positive work- life balance.
When planning any type of construction project, it is important to establish a realistic budget, determine when the project will begin, assemble a quality construction team, and check every detail, twice!
Don’t worry, SWET Construction ensures everything is carefully planned and taken care of, along with quality construction and cost effective solutions. Our experienced team of builders will get you through to the finished project you want. Which adds up to a high return on investment.
SWET Construction Group bridges the gap between visualizing a concept and making the project reality, with cohesive spaces, rooms and designs that flow together both aesthetically and functionally. Whether it’s a new construction or renovation, we make the experience enjoyable by taking you through the process of building and designing, to ensure your project has the look and feel you imagine.
Success of Your Project
Multi-Family construction projects can range from a thousand dollars to millions. For that reason the contractor you choose for your project should be experienced and capable of handling your type of project. Completing the job in a professional, cost-effective and efficient manner as possible plays a crucial role in the total success.
The multi-family construction industry is highly competitive, this includes new building and renovation of apartments, condominiums, hospitality and assisted living facilities. Partnering with SWET Construction Group will not only keep your construction costs low while achieving a beautiful architectural design, they will ensure your project is a great success by displaying quality traits such as preparedness, flexibility and awareness.
Contact SWET Construction Group for your next project.