I just found this little tool http://sf.rentslicer.com/market.html?m=soma+%2F+south+beach when researching what rents are trending in the South Beach area. It aggregates postings from craigslist.org, which doesn’t include all the units on the rental market, but gives an immediate snapshot of what is going on in the market of privately owned condos.
When determining what market rent a unit will yeild, consider availablility of rental units within a building (supply) and then specifics of a unit (view, upgrades, condition, parking, etc.). To move a unit quickly consider paying for move-in costs in buildings that charge a few hundred dollars for this (The Brannan, Museum Parc), or other incentives such as a free month, parking included, etc.
Here’s some examples of what is currently being advertised on the market:
Watermark: 2/2 $5000/month, 2/2 $4350/month, 1/2 $4350
The Palms: 2/2 $3999/month, 2/2 $3400/month, 1/1 $2500/month
The Beacon: 2/2 $3400/month, 1/1 $2900/month, 2/2 $4195/month (October free), 2/2$4999/month, 1/1 $2999/month
The Towers: 2/2 $4800/month
200 Brannan: 2/2 $7000/month (1800 sq ft)
The Metropolitan: 2/2 Penthouse $4100/month, 2/2 Penthouse $6900/month (1600 sq ft)
Four Seasons: 2/2 offered at $7800/month
188 King: 2/2 $4500/month, 1/1 $2950/month
300 Beale: 2/2 $4000/month
Museum Parc: 2/2 $5950
And this trend of landlords being in the driver seat is nationwide: http://shefaor.blogspot.com/2006/10/landlords-market-in-2006.html
Feel free to contact me at 415.948.6406 should you be looking to rent your unit in South Beach.