Eric Slifkin, Broker Associate

The greater Stuart, Florida real estate market has seen a significant increase in homes available for rent. "For Rent" signs are appearing everywhere from condo communities to upscale neighborhoods where rentals are typically scarce.

This trend is largely driven by the depressed housing market - many sellers looking in vain for buyers have switched to renting in order to facilitate their relocation plans. Investors, unable to flip their properties, have been seeking to offset their mortgage expense by renting until the market rebounds.

The rental and sales markets tend to move in opposite directions but homes for rent have also been slow to move. With the increase in rental inventories, landlords have been hard pressed to fill vacant units and have had to reduce rents to compete. Newer Stuart area condo and townhouse rentals can be found for less than $1,100/month. Higher-priced home rentals have been especially challenging with some owners providing lawn and pool maintenance as an incentive for renters.

If you are a landlord in need of help with your rental property please visit my rental Web site at www.StuartBestRentals.com, where you may submit a Landlord Profile. I will then contact you to schedule a time to see the property and discuss marketing your rental. The site also features rental listings and a Tenant Profile form to assist renters in finding a home.

Selecting the right rental home and finding a property that meets your needs and budget can be complicated. Here are some tips to help you determine what's most important to you and help you work your way through the rental process.

Assessing Your Needs

Carefully assessing your needs and knowing what to look for and what to avoid is the key to success in finding a rental home. Your Real Estate Agent can provide detailed information on target areas prior to your home finding trip, helping you maximize your time and efforts.

One of the most important steps in finding your new home is knowing exactly how much rent you can afford. Your rent should be no more than 30 percent of your gross monthly income (although there are exceptions to this rule).

Advance Deposits And Fees

It is also important to remember that renters are typically required to pay a security deposit (usually one month's rent) in addition to the first month's rent prior to move-in. Additionally, some renters are required to pay their last month's rent in advance. This is usually the case when renting a home from a private owner. A rental application fee, which can cost between $35 to $100 to process, is often required as well. If there is a home owners association you can expect to pay an application fee ranging from $50 to $200. Pet owners will also have to contend with additional security deposits and/or nonrefundable pet fees in the neighborhood of $250 or more for each dog or cat.

Inspecting The Property

When you have found a property that meets your needs, examine it carefully before you sign a lease.

-Windows should open, lock properly, and have screens.
-Sliding glass doors should open cleanly. Screens should be operable and intact.
-Check the roof for missing or curled shingles and ceilings and walls for water marks and other signs of leaks.
-Check plumbing and water pressure by flushing the toilet and running the faucets.
-Make sure any included kitchen appliances work properly (range, refrigerator, dishwasher, garbage disposal, etc.)

Before Signing The Lease

Once you've decided on a property, the landlord will probably ask you to fill out a rental application. This form will request information such as:

-Previous and current employers and landlords
-Salary history
-Banking information
-Credit card information
-Social security number
-Personal (non-work related) references

This information allows the landlord to check your credit history (usually through a credit bureau) and your relationships with former landlords.

The Rental Agreement Or Lease

Before you occupy your new rental property, you will be asked to sign either a rental agreement or a lease. A lease specifies a fixed term and monthly payment, for example, a one-year lease at $1,000 per month. Rental agreements are sometimes known as "month-to-month" arrangements. Either you or the landlord may end the arrangement at any time with proper notice (specific notice requirements vary by location). Similarly, the landlord can adjust the rent with proper notice (again, the laws and regulations vary by area.) A lease is usually the more favorable option, as it guarantees a fixed rent for a longer period. However, if you are uncertain how long you will be renting, a rental agreement offers more flexibility.

Lease Basics

A lease is a binding legal document that states that a tenant can occupy property owned by the landlord under specified conditions. Although leases vary, they usually specify the following:

-A full description of the rental property
-The amount of each rent payment and the due date, including late charge and grace period information
-The amount of the security deposit, and the conditions under which it might be retained by the landlord
-Services to be provided by the landlord (landscaping, repairs, etc.) and tenant responsibilities
-Rules and regulations that the tenant is expected to follow while renting the property
-Available amenities or services (trash removal, swimming pool, laundry facilities)

Clauses Requiring Your Attention

One of the most important parts of a lease is the Termination Clause, which describes what will happen at the end of your lease. Some leases renew automatically unless you notify the landlord that you plan to leave. Other leases simply transform into a month-to-month rental agreement. If you anticipate being relocated by your company sometime in the near future, we recommend having the following language built into your lease:

"In the event the lessee is relocated by his or her corporation, the lessee may terminate this lease upon thirty (30) days prior written notice to lessor with no lease termination penalty."

Other clauses to watch for include those that address automatic rent escalation and transfer of repair duty from the landlord to the tenant. No smoking clauses are also common and strictly enforced.

Search Rentals in Stuart Florida

Copyright © 2008 By Eric Slifkin, All Rights Reserved. *Tips For Renters | Rental Homes in Stuart Florida* Contact Eric Slifkin for Palm City and Stuart Florida real estate.

From the moment you enter Southfork Estates the natural beauty of this newer Martin County subdivision surrounds you. The community is defined by its family friendly environment. What makes Southfork Estates special are the ovesize lots (up to an acre) and estate homes, many with stunning lake views. Southfork Estates also offers homeowners optional outdoor storage for boats and RV's. Recreation opportunities are abundant with nearby uncrowded beaches, boating, fishing, surfing, golf and tennis.

Southfork Estates is located in Stuart, Florida, just minutes from I95 and an easy commute to the West Palm Beach area. The region's slow growth policies have helped it to retain its rural character. The Martin county school system is amongst the best in the state.

Copyright © 2008 By Eric Slifkin, All Rights Reserved. *Neighborhoods in Stuart Florida | Southfork Estates* Contact Eric Slifkin for Palm City and Stuart Florida real estate.

The Estates at Tradition in Port Saint Lucie is a private, gated enclave located in the master planned community of Tradition known for its small-town atmosphere, quiet, tree-lined streets, shops and cultural activities.

Homes at the Estates are surrounded by picturesque lakes and parks with bike paths and jogging trails winding throughout the enclave. A community pool with cabana and barbecue area serve as a central gathering place for neighbors and friends.

The Estates at Tradition features innovative designs with attention to detail for which Toll Brothers is known nationwide. The Estates at Tradition offers luxurious living on Florida's Treasure Coast, just minutes from beaches, local golf courses, and other recreational opportunities.

The Internet has empowered out-of-town home buyers with the ability to search for homes on line much the way Realtors do. Current Web technologies allow prospective buyers to search for properties in the comfort of their homes while saving time and money traveling to their target areas. This applies to the Stuart area real estate market as well - Realtors and home sellers alike can upload their listings to a myriad of real estate Web sites or portals for prospective buyers to see with multiple photos, virtual tours and even videos of their homes.

Out-of-town buyers searching for Stuart, Florida real estate on line should never underestimate the importance of hiring a local Realtor to assist in identifying suitable properties and making the home buying process as stress-free as possible. As an out-of-town buyer, you will benefit from taking advantage of a local agent's expertise and knowledge of the area he or she serves. This is especially true when buying new construction, where having a local representative will help to ensure your new home is built to your specifications.

Working With A Realtor

A Realtor's job is first and foremost to assist you in identifying suitable homes. A Realtor will typically posses an in-depth knowledge of the local real estate market, neighborhoods, and available inventory. Your agent will also walk you through the entire transaction from research to settlement.

What Should Out-Of-Town Buyers Look For In A Realtor?

As a potential out-of-town buyer of Stuart, Florida real estate, there are several qualities you should look for in a local Realtor:

-Your Realtor should maintain communication with you throughout the process even though your purchase may be months away. He or she should be enthusiastic in talking to you about the Stuart area real estate market, neighborhoods and homes that suit your needs.

-The Realtor should update you with the latest listings and get your feedback before your first buying trip to Stuart. Though some of the properties may be sold or under contract by the time you arrive, your comments and selections will help narrow down showings to the best homes for you.

-Your Realtor should include in the showing schedule a tour of the Stuart area, which will help you to familiarize yourself with our neighborhoods and decide on a particular location.

-Patience is one of the most important traits that a Realtor can possess. Your agent should not try to influence your decision about a particular Stuart area home but help to weigh the pros and cons of deciding on a particular property or moving onto something more desirable.

As an out-of-town buyer, when it comes to selecting a Realtor you want to go with someone who will look out for your needs before, during and after the sale.