If you’re looking for a Miami condo that you can Airbnb or rent out on a short-term rental basis for additional investment income, or to give yourself a vacation home that you can rent out when you are not vacationing in Miami, then read on. This blog is a comprehensive list of Miami Beach and Miami condo buildings that allow Airbnb and short-term rentals.

— Why Airbnb Your Condo in Miami? 

Airbnb rental property investments are a hot topic all around the U.S., but it’s even more relevant in Miami and Miami Beach for several reasons. First, given the constant growth of the Miami area, many see Airbnb condo investments as a way to participate in real estate investing in Miami by creating cash flow while holding onto a property that is likely to continue increasing in value. It also allows you to have a beautiful Miami vacation home.

Second, a 2023 report by the Chamber of Commerce substantiates investor beliefs as Miami ranks as the #10 city in the U.S. with the most expensive Airbnb rents. Miami daily rentals in Airbnb commanded the 10th highest average daily rate of $290 per day of all the large cities in the U.S. Smaller pockets such as Miami Beach averaged $426 per day, Key Biscayne was even higher at $571 per day. And neighboring Fort Lauderdale also proves a ripe city for Airbnb investment condos, averaging a daily rate of $297, even higher than Miami’s average daily rate.

Moreover, Miami is the city with the most Airbnb short-term rental listings per 100,000 people (according to the same report). All of these signs indicate that business is booming with huge long-term potential for the vacation rental market in Miami.

Last but not least, given Miami’s rich cultural diversity, high-quality restaurants, plentitude of outdoor activities and nightlife, and year-round warm weather, everyone wants to have a pied-a-terre here. Buying into an Airbnb-approved condo building that allows daily or short-term rentals allows you to subsidize your amazing Miami lifestyle. You get the best of all worlds: enjoy Miami and Miami Beach when you want, and make an income when you are away.

—Miami Airbnb-Approved Condo Buildings

Here is a list of most of the Miami-area condo buildings that allow some form of short-term rentals. It’s still important to verify with the condo association whether daily rentals like Airbnb are allowed per the condo docs. There are occasions in which the management may be allowing Airbnb rentals at the moment even though the building is not officially approved for daily rentals.

Do your due diligence, or contact us to help you with your condo search or to help verify any Miami condo’s rules and regulations.

Prices are based on market at the time of publishing. 

— Miami Pre-construction Condos that Allow Airbnb

These new condo buildings in development in Miami and Miami Beach will allow short-term rentals. Contact us or subscribe above to stay up-to-date on all preconstruction developments in Miami.

— Can You Airbnb a Condo?

The short answer is, yes, you can buy a condo and Airbnb it for daily rentals or rent it out on a short-term basis. But you need to understand a few key points, starting with whether the condo building allows short-term rentals or not. And second, if the neighborhood or municipality allows short-term rentals. For example, some parts of South Beach do not allow short-term rentals or Airbnb. Most of mainland Miami allows Airbnb and short-term rentals. The last thing you want to do is to buy the perfect condo but then realize it doesn’t officially allow Airbnb rentals or short-term rentals, even though some other owners are doing it. 

The good news is that many new buildings understand buyers want this option and are incorporating short-term rental plans into their building rules. Most pre-construction condo buildings in Miami are already Airbnb-approved, so you can get your investment to work from day one.

Also, working with a real estate professional who knows which buildings offer complete short-term rental options, or knows how to pull up the condo short-term rental rules of the building from the condo docs and condo rules and regulations is key.

— Quick Tips on How to Airbnb a Condo in Miami 

Pro-Tip #1: Understand the Financing Rules

Condo buildings that allow Airbnb or short-term rentals (meaning daily or weekly rentals) have different financing rules than conventional, residential-only condos. Financing for condos that allow 30-day or longer rentals is more conventional, while condos that allow daily rentals can require different types of financing. Use our Guide on How to Finance a Short-term or Vacation Rental to make sure you are making the most of your financing options.

Pro-Tip #2: Consider a Condo-Hotel

Condo-Hotels can be a great option to invest in for Airbnb rentals since they have flexible rental rules and already have management focused on clients renting for the short term. But condo-hotels require special financing rules, too, and often have their own rules if you want to manage your condo-hotel unit through Airbnb instead of the hotel’s management program. Use our Guide to Buying a Condo-hotel in Miami to help you navigate that option.

Pro-Tip #3: Consider Buying a Pre-Construction or New Construction Condo

With the recent growth of Miami and continued interest in its highly desirable real estate market, many developers are now building new condo buildings allowing Airbnb and short-term rentals as part of the amenities of the building.  Buying during the pre-construction phase often has the advantage of early-bird pricing and getting your pick of the best units. You can view our article on the latest new and preconstruction condos in Miami allowing Airbnb and short-term rentals if you are interested in buying into a new condo development project.

If you’d like more help to start searching for the right condo investment for you, call or email us anytime. You can also find us on social media with the handle @blackbookproperties. We’re here to help you!