Florida property rentals in the West Palm Beach area form one of the top two most lucrative homes-for-hire markets in the US alongside celebrity-haven Hollywood, according to a forthcoming article in Forbes magazine.
According to Thomas Francis, in his New Times blog: "You pay $500,000 (£303,721) for a structure with four apartments that generate $1,200 each in monthly rent, which comes to an annual total of $57,600.
"Take away a five per cent allowance for vacancies and eviction costs and 10 percent for property management fees. That leaves $49,000."
He added that Florida property buyers should also take factors such as property taxes, capital improvements and maintenance costs when working out the numbers for their future Florida property empire.
Anyone investing in Florida property will be living in one of the 67 counties that make up Governor Charlie Crist’s constituency.
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