MISSION HILL, Fla.
— As the summer heat hits, you can be assured that there are a lot of potential tenants in the Mission Hill area for leasing.
That is thanks to the Mission Hills-based rental company Progressive leasing.
The company is known for its high-end, mid-level and lower-end apartments in Mission Hill and West Palm Beach.
Its current rental market is one of the most active in the nation and has been for quite some time, said company president and CEO, Mark Lough.
“The market is so hot right now, we are really in a transition period,” he said.
In 2018, Progressive is looking to make some moves to better its customer base.
The company is working to increase its inventory, Lough said, adding that its been doing that by buying homes in the area that are not yet occupied.
Progressive recently completed the purchase of a home in the 600 block of West Palm Boulevard in Mission Hills for $1.6 million.
That home was purchased in 2018 for $2.9 million.
Lough said he has been working with a number of tenants to see what kind of housing options are available in the neighborhood, including a few who have found success with the company.
With a population of 3.5 million, Mission Hill is a neighborhood of low-rise apartments that are located along the beach, Laugher said.
The median household income in Mission has decreased from $53,000 in 2010 to $49,000 last year, according to Census Bureau data.
One of the things that is really appealing to our tenants is the fact that we are in a neighborhood where there are not that many of those homes that we have to fill, Laugh said.
The company has recently purchased another home in Mission Heights for $3.8 million, but Lauger said that it is not as high of a price tag as some of the properties it has bought.
He said that the Mission Heights neighborhood has been growing for the past three years, which has allowed the company to make those home sales and buy properties that are currently vacant.
Another area that the company has done well is the area of West End and the West End Beach area, Lau said.
Both of those areas are in the same area as Mission Hills, Laul said.
There are also a lot more low- and mid-rise residential properties that we can sell in the Bay Area, Laun said.
That is one reason that I think that we would see the rental market explode in the future, he said, and that is because there are so many low-income families in the San Francisco Bay Area.
There are a couple of other factors that are definitely helping us, Laut said.
One is the economic recovery, and the second is the housing market, and I think those are really two of the big factors that will continue to make us thrive.
“Laugh said that Progressive is going to focus on making sure that the people who come to our office to make their purchase are satisfied, and he expects that to happen as the summer heats up.
If you are interested in renting in Mission, Progressive recommends that you contact the company through its website or by calling (727) 685-2290.
For more information on the Mission Hotels and Resorts rental program, visit Mission HillsHotelsResorts.com.
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