We recently sold a home in Sea Pines to a client that purchased the property sight unseen because there is a demand for long term rental properties on Hilton Head Island. If after reading the following, you would like for us to find some potential long term rental properties, please email us at firstname.lastname@example.org or contact us directly at 800-932-3652. You can also do a quick search by visiting our new website HiltonHeadRealEstateNews. I would suggest searching 3+ bedrooms, 2+ baths, 1800+ square feet, and priced from $200-$500 and let us know if you see something interesting! Happy Hunting! Read what our long term rental agent has to say below:
The long term rental market, it is still strong.
The availability for long term rentals has diminished further, making it more difficult for potential renters to find the right house for their needs. The laws of supply and demand are in effect and landlords are reluctant to negotiate rental prices and why should they, when the supply is smaller. The type of renters moving to the area are people moving for jobs, loss of housing, and those not able to qualify to purchase a home or villa. I know some owners would ask, “why would you rent to someone who just lost their house to foreclosure or short sale.” The truth is they are good people who got caught in a bad economic climate. Owners of the homes found themselves in a position where they are upside down, to the point that it did not make sense to try and hang on until the real estate market rebounded. Like everyone, they need a roof over their head and they make very good tenants. We also have those people who no longer have the ability to qualify for a home loan, because banks have returned to traditional forms of bank approvals, with income verification and proper down payments [i.e-the average sold price of all areas in Hilton Head MLS through August 2010 was $409,479 and banks are asking for 20% down, meaning they need $81,895 down payment to purchase a home] making it very difficult to for first time and second time home buyers to be able to purchase. Of course we have those retirees moving to paradise for a more moderate climate and our sunny skies and 12 miles of BEACHES. Because of the demand for rental properties, low interest rates and low prices, we feel that this is a very good time to invest in Hilton Head Island and the surrounding area. For a free rental survey, please contact our office. 843-682-4310, 866-225-5510 or vist www.millerltr.com
Keith A. Miller, PMIC
Miller Long Term Rentals Inc.
4 Dunmore Court, Bldg A, Suite 102
Hilton Head Island, SC 29926
(843) 682-4310, FAX (843) 682-4316