Airbnb rental property investments are a hot topic all around the U.S, but it is even more relevant in Miami and Miami Beach for a number of 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. 

Last updated August 27, 2021.

Second, given Miami’s rich cultural diversity, quality restaurants, the plentitude of outdoor activities and nightlife, and year-round warm weather, everyone wants to have a pied-a-terre here to come at will. Buying into an Airbnb-approved condo that allows daily or short-term rentals allows owners and investors to subsidize their amazing Miami lifestyle. They get the best of all worlds: enjoy Miami and Miami Beach when they want, and make an income when they are away.

Can You Airbnb a Condo?

The short answer is, yes, you can buy a condo and Airbnb it or rent it out on a short-term basis. But you need to understand a few key points, starting with whether the condo allows short-term rentals or not. 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. Working with a real estate professional who knows which buildings are complete short-term rental options, or knows how to pull up the condo short-term rental rules of the building (or looking them up yourself) in the condo docs and condo rules and regulations is key.

Quick Tips:

Pro-Tip #1: Understand the Financing Rules

Condo buildings that allow Airbnb or short-term rental (meaning daily or weekly rentals) have different financing rules than typical 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 understand 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 short terms. 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 buy 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 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.

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 is still important to verify with the condo association whether daily rentals like Airbnb are allowed per the condo docs. There are occasions where the management may be allowing the Airbnb rentals at the moment even though the building is not officially approved for daily rentals. Do your due diligence, or reach out to us to help you with your condo search or to help you verify the condo’s rules and regulations.

*Preconstruction Condo Projects

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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 to help you