Looking for an Apartment in Miami?

Here's where to start

There are few places that wear the phrase “renter's market” as well as Miami currently does. Drive up Route 101--the road that lines the beach--and you will see stalled high-rise construction projects, vacant condo complexes, and many “for rent” signs. Whether you are looking for a swanky place in a downtown high-rise or a mellow beach place to hang your flip-flops, you can find it at your desired price in Miami. Before you go hunting down those for rent signs, write out your plan of action. Taking the following steps can help you weed out apartments that don't fit your criteria and get you into that place you've always wanted faster than you think.

Determine which is best: renting or buying

A renter's market is also usually a buyer's market. With so many foreclosures and low-priced properties on the market, buying might be a better choice for you. Of course, this depends on your finances, how likely you are to be eligible for a loan, your long term plans, and many other factors. Never decide to buy a house on a whim, and make sure you decide based on what is right for you, not what others think you should do.

Know what you want

In Miami, this goes beyond knowing you want to pay $1,000 a month for a one-bedroom apartment. You have to know what kind of neighborhood you want to live in, how proximal you want to be to work, school, public transportation, restaurants, the beach, and more. You need to know everything from how long of a lease you will accept to how long you want your kitchen counter to be. In addition, don't forget about parking. Classified ads will give you a good idea of a rental's location, features and amenities, which will help you narrow your search significantly.

Get to know the city

If you are a newcomer to Miami and can't tell Little Haiti from South Beach, you have a little homework to do before you hit the pavement. Classified ads are helpful, but since potential landlords are trying to rent out their apartments, they may leave out certain details about the neighborhood or the building itself. Luckily, you have all of the info you need about any Miami neighborhood or suburb at your fingertips. You can locate a potential apartment on Google Maps, then find out what is nearby. Looking up schools, crime, history, and demographics on potential neighborhoods online before venturing out will save you time and help you avoid less desirable apartments. Know the difference between Downtown and Coconut Grove. Know where the suburbs begin. Most importantly, know what kind of neighborhood best suits you.

Know your budget

This is one of the easiest ways to narrow your search. Limiting what you can spend will prevent you from paying an arm and a leg for a penthouse. Setting a minimum amount can help you spot a less-savory living situation.

Consider a real estate agent

 If your apartment search consists of looking at classifieds and driving around, you might be missing some great apartments and some great deals. Real estate agents often have long lists of apartments for rent, many of which you will not find in the classifieds. 

Be prepared to spend more
 
Once you think you have found an apartment you can afford, you need to factor in other costs. Deposit, moving costs, utility activation fees, public transportation, parking fees and entertainment can put bigger dents in your wallet than you might think, especially in trendy or touristy parts of town.

Be optimistic

No matter where your search takes you, Miami has something for everyone. With enough effort, you will find the perfect apartment in no time at all in this lively, historic, and culturally diverse tropical paradise.