Sarasota boasts no shortage of attractions, which is why tourists flock to this Florida destination every year. Some notable places include the John and Mable Ringling Museum of Art, Siesta Key Beach, Sarasota Jungle Gardens, Sarasota Bay, and Florida Studio Theatre. There’s also Lido Key, Ca’ d’Zan, and Saint Armands Key.
As a popular vacation destination, Sarasota sees millions of tourists on an annual basis. With online rental marketplaces gaining traction, more and more tourists are favoring rental properties over hotels nowadays. But, it is not just short-term rentals that are widespread in Sarasota. A large portion of the city’s resident population also consists of renters.
In Sarasota, 43% of residents rent their homes. The median rent price in Sarasota is approximately $1,069 per month, with studio apartments typically going for $850, 1-bedroom properties going for $1,250 and 2-bedroom properties going for $1,650.
Given the state of Sarasota’s rental market, it makes sense that people are investing in rental properties all over the city. Yet, simply buying a rental property does not guarantee a profit. You must market your property, look for tenants, and manage all other aspects as well. On top of that, you must stay mindful of the federal, state, and local regulations that could affect your rental property.
Professional Sarasota property management companies make the lives of rental property owners much easier. With a property manager taking care of all the required tasks, you can maximize both your time and earnings.
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