#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. Make sure you speak to a lender and have some upfront discussion before you start looking at properties.
#2 Condo-Hotels, “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.
Don’t tour unrepresented
New construction is EXCITING but please contact me BEFORE you start looking or visit a sales office. Many times buyers find themselves surprised when they get to the contract and see hidden fees. Remember: The sales office only represents the developer and you are at risk when unrepresented.
#4 Miami Beach is zoning is NOT favorable for airbnb
There are only certain areas that are zoned for rentals of a period less than 6 months. Most condo buildings are not eligible for financing. If you want a STR in South Beach be prepared with cash
Below is a list of the most popular Miami condo buildings that allow rentals less than 6 months. Condo rules may change so it's still important to verify with the association and review condo docs after going under contract.
Midblock - Midtown Miami
Daily Rentals (No Rental Restrictions)
The Grand - Edgewater
Allows Monthly Rentals (30 day minimum lease 12 times a year)
Opera Tower - Edgewater
Monthly
The Club at Brickell Bay - Brickell
Daily Rentals (No Rental Restrictions)
Brickell House - Brickell
Monthly
Sail on Brickell - Brickell
Monthly
Icon Brickell Tower III - Brickell
Allows Daily Rentals
The Edition Miami - Miami Beach
Monthly
W South Beach - Miami Beach
Allows Daily Rentals
Setai - Miami Beach
Allows Daily Rentals
Akoya - Miami Beach
Monthly
Bel Aire on the Ocean - Miami Beach
Monthly
Roney Palace (1 Hotel) - Miami Beach
Monthly
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Joseph James Biscaha P.A.
Licensed Florida Real Estate Salesperson
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Compass Florida LLC