With the slowing of the housing market, and the even slower condo sales market, the rental market is heating up.  Many of the people that were in the market to buy a condo, are now waiting until the housing market adjusts.  Many condo developments are not sellilng, so investors are buying the units and turning them into rental condos.  Many people are excited about this, becuase they are able to get luxury condo living, without the commitment of buying a home.  They don’t have the maintenance or financial responsibility.  They are also more mobile.  They are not stuck into a mortgage, only a lease.

People are also drawn to the luxury apartment and condo living because it is not like renting a regular apartment.  These complexes are in better locations and have better amenities.  Most of these rents range anywhere from $900 to $2500.  Some complexes are also doing rent to own programs.  This way you are able to rent for a while with the option to buy the unit at a later time.  This is a great way to test drive your condo unit without the commitment.