Four Things You Must Know About Short-Term Rentals in Miami

Read Below Before You Begin Your Search



#1 If you're getting a loan, understand the Financing Rules

Condominiums that allow Airbnb have different financing rules and will probably not qualify for a traditional conventional loan (Fannie or Freddie), or require a larger down payment. Speaking with your lender before you start looking at properties is a must.


#2 Condo-Hotels or “condotel”

Condo-Hotels are a great option since the buildings are designed and operated already for short-term. If you need financing Condo-Hotels are very difficult and almost impossible to finance. Most buyers purchase in cash. These properties also may have specific rules if you want to self-manage your unit instead of using the hotel's management program.


#3 Consider New Construction

Many new developers are now building condos that allow short-term rentals/Airbnb as part of the amenities of the building. Benefits of buying pre-construction allows you to get in early at developer "early-bird" pricing and you get to pick exactly which unit and floor.


#4 Miami Beach is zoning is NOT favorable for Airbnb

There are only certain areas that are zoned for a period less than six (6) months. Most condo buildings are not eligible for financing. If you want a STR in South Beach be prepared with cash.



How many times can I rent my unit per year?


Below is a list of the most popular Miami condo buildings that allow rentals less than six (6) months. Condo rules may change so it is still imperative to verify with the association and review condo documents as soon as possible, and before moving forward with the purchase of the property.



Akoya - Miami Beach

Monthly


Bel Aire on the Ocean - Miami Beach

Monthly


Brickell House - Brickell

Monthly


Brickell Heights - Brickell

Monthly


Icon Brickell Tower III - Brickell

Allows Daily Rentals


Midblock - Midtown Miami

Daily Rentals (No Rental Restrictions)


Opera Tower - Edgewater

Monthly


The Club at Brickell Bay - Brickell

Daily Rentals (No Rental Restrictions)


The Grand - Edgewater

Allows Monthly Rentals (30 day minimum lease 12 times a year)


The Edition Miami - Miami Beach

Monthly


Roney Palace (1 Hotel) - Miami Beach

Monthly


Sail on Brickell - Brickell

Monthly


Setai - Miami Beach

Allows Daily Rentals


W South Beach - Miami Beach

Allows Daily Rentals



If you would like help searching for the right property, schedule a call below.




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