The Sunshine State's Lifestyle and Climate Make It a Tenant Magnet

Florida has long been a popular destination for people around the globe. The tropical vibe and diverse culture make it attractive to those wanting to rent short-term or make the Sunshine State their full-time residence. Whether you want to rent to snowbirds flocking to the state during the winter or prefer a year-round tenant, the laid-back coastal feel and year-round warm weather will attract renters.

1. Warm Weather Year Round

The average temperature is 73 degrees Fahrenheit in Florida. Although summer extremes can get heavy and humid, most seasons are pleasant in Miami. People wanting to escape harsh winters will appreciate the reprieve from snow.

May through September can be steamy in Miami, with temperatures hitting the mid 80s. If tenants prepare for the extremes, they'll enjoy living in the area.

Property managers can easily fill vacancies with new people migrating to the state. The steady stream of new residents flocking to Florida means rental units remain filled. Urban areas like Miami demand higher monthly payments because places to live are in high demand.

2. Fewer Maintenance Issues

Florida condo property managers may occasionally deal with wind damage from a hurricane or normal wear and tear. However, they avoid the issues their northern counterparts must suffer. These landlords must fix issues caused by harsh winters — patching cracked asphalt shingles and replacing frozen pipes add up to big costs for many units. This fact can be highly attractive to renters who don’t want to deal with frequent repairs.

3. No Income Tax

Nine states have zero income tax, and Florida is one of them. For retirees, retirement withdrawals and Social Security will be safe from state taxes. However, the state may have higher fees for some things to make up for the lack of income tax, such as a higher sales tax.

Property managers may have a bigger selection of potential tenants with Florida's tax structure. If a potential renter expresses concern over the higher cost of living in the Sunshine State, point out where they also save and how more of their income goes into their pockets.

4. Cultural Diversity

Miami is home to a mix of international shopping and cuisines. Outdoor events speckle across the beaches, street festivals feature a Latin flair, artists and musicians share their creativity, and the city comes alive at night in the clubs and restaurants.

Property managers can rent to young professionals with a stable income looking for property in the heart of all the action. Such tenants tend to party in the clubs, leaving their units clean and undamaged. The closer your rentals are to the city's heart, the more desirable they'll be to these potential occupants.

5. Beach Vibe

Living in Miami gives you the beach vibe all day, every day. It could be the sunshine or Florida culture, but people seem to feel happier. Because they enjoy living in a vibrant place, they could be less likely to move, which can reduce your turnover rates and marketing costs.

You can expect 106.4% appreciation for areas like Sunny Isles Beach in Miami. Emphasize the fun of living by the coast and catching a few rays after work to attract people looking for Florida perks.

The Sunshine State Is a Landlord’s Dream

With beautiful weather, a thriving culture and consistent growth, keeping Florida condos filled is easy. Maintenance is lower than in many areas, and property managers may find tenants competing with one another for a rental in popular urban locations. By emphasizing the state's sunny disposition and pointing out the perks of living there, you'll find the best possible tenants and have an excellent chance they'll stay long-term.

Evelyn Long is a writer that specializes in housing market trends. She is also the editor-in-chief of Renovated Magazine, where she writes essential resources for renters and homeowners. She has contributed to several other publications like the National Association of Realtors and Realty Executives.