The first fine is $1,000. Repeat offenders get fined $5,000 per day. Buying an Airbnb, VRBO, short-term rental, or whatever you want to call it is very different in Miami than almost everywhere else in the world. It is much more complex. There are so many variables and ways to get in trouble with the law or have your investment turn into a disaster. This video shares with you a step-by-step guide on how to analyze and buy the right short-term rental in Miami, Miami Beach, or other parts of South Florida. In the video, I speak about two resources on rules and regulations. Below are the links for those items. www.miamidade.gov/building/standards/residential-short-term-vacation-rentals.asp www.airbnb.com/help/article/2676/miamidade-county-fl ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-n5CLkFawQg8.html - LINK to Naativo video Amit Bhuta Licensed Real Estate Agent Compass (305) 439-3031 Mobile amit.bhuta@compass.com www.ALLinMiami.com
I think I respectfully disagree “wording” means everything if you have your business legally set up, as a corporation your business can lease out to clients. 😊
@@raheemtheinvestor Thanks so much for taking the time to watch the video. I agree with you. But in most cases in Miami, especially for associations and communities, the bylaws don't allow it. I do agree that with a great attorney that really knows his/her stuff, you can probably set things up much more favorably.
It depends if it’s in an association. Typically, if you Google unincorporated Miami-Dade County zip codes, and the home is in one of those zip codes, and not restricted by an association, you are ok. Every case is different though.
I spent 5 years hustling around South Beach doing Airbnb, it was a nightmare and I wouldn't advise anyone to do that because of regulations, I made a video about it. Good luck to you Sir!
Subletting short term rentals in Miami doesn't really exist like other areas in the country. Owners here would rather do it themselves than to let their tenants do it.
Rental arbitrage doesn’t really exist in South Florida. In the areas that allow short term rentals, the owners typically do it and don’t allow tenants to sublease the property.
Hello I have a question . Do we need to own a property in Miami to be able to do Airbnb. Or I can look a apartment that will accept short time renters? Also Iwhen you getting LLC I’m currently in California do I have to get my IEN in Miami that’s where I’m trying to do Airbnb?
Great question. In Miami, typically you do need to own the property. In some other areas of the country, lots of times landlords allow you to rent the place, and then Airbnb it. Some call this rental arbitrage. It's very difficult to find someone in Miami, that allows this.
@@Seagall. Tourism is our number one industry in Florida. The hotel lobbyist are powerful and don’t want their income affected for their massive investments they’ve made into the hotels they’ve built. So there are plenty of fines and intricacies involved when you invest in Airbnb’s in South Florida. If you would like our team to help you with the many times difficult process of buying a short term rental, just let us know. We have more than a handful under contract currently.
It depends. Typically Lennar properties are in communities with HOA's. Nearly all of them don't allow it. If they do, they would probably mention it in the sales pitch for the home.
Hi I have a question what if you already own a property in Miami. And have a guest house on the property can you Airbnb the guest house on the property. Would I still need to go through the process?
Hi. You have to make sure that your area in Miami allows short term rentals. Many areas of Miami have restrictions. In some areas you can but to do short term rentals, you would need to go through the process. In my video, I have some links to the websites with more info.
@@ALLinMiami Thank you so much! Do you have a link that shows which area in Miami would allow short term renting? I’m trying to look in the area of Miami Shores/North Miami/North Miami Beach and maybe Aventura area.
@@MsClaudinea You're welcome. When you say short-term renting, are you talking about rental arbitrage or something that you are looking to purchase to rent out?
@@ALLinMiami in doing short term rental like rental arbitrage. We currently have tenants but their lease won’t be up until the end of the year. So I wanted to try to start out small like an apartment then once their lease is up I would put that up as well.
@@MsClaudinea Oh ok. My mistake for not expressing it better. Renting a place and then subletting out and making a profit, rental arbitrage, doesn’t really exist in South Florida. I wrote an article on a few other things that hopefully should be helpful. Here’s the article. www.allinmiami.com/blog/5-things-you-must-know-about-buying-an-airbnb-in-miami
Hey guys! Would you give me an advice about listening a single room in Miami Beach. I can’t figure out whether is legal or not renting out for 3-5 days
what are the rules about single family houses? Can I buy a house and do airbnb right away, or do I need a permit??? I am asking because I plan to buy a house in Miami in next 2 month, and I worry that I will be forbiden to airbnb it
You can do Airbnb's for single family homes. But just like condos, there are areas that allow it and there are areas that don't. If you would like for our team to help you with your purchase, just let us know.
Great info but I was told that you can't airbnb in Miami unless the guest are staying for no less than a month. In other words, no more night or weekly stays allowed per the Mayor of Miami Dade. I am interested in airbnb in Miami but confused with this info. Any help would be appreciated
Thanks for watching Cinto and your comment. Sorry, I missed your response until now. You can contact Jade Kalbacher at (631) 276-9003 - jade.kalbacher@compass.com or me - Amit Bhuta at (305) 439-3031 - amit.bhuta@compass.com.
Great information 👍 one question I had in the video is where you first highly recommended not doing Airbnb on a condo, but right after recommended 3 condo style buildings. Did you mean not to do Airbnb on any condo buildings, except those projects that started out as dedicated Airbnb building? Could you help clarifying the gap here? Thanks.
Hi. Sorry to make it confusing. There are some buildings (condos) that are built as condo hotels. Meaning there is a hotel element built into the building plus a residential side. These buildings are fine with short term rentals. The three I recommended are these types. In the video, I meant to try and stay away from just “regular” condo buildings because most aren’t legally allowed to do short term rentals. And typically the list of the ones allowed each year decreases because of either their Home Owner Associations (HOA) or legislation. Single family homes have a much greater upside in future long term appreciation. So if that is a consideration, a single family will work best for long term return on investment (ROI).
Hello... I would like more info on Airbnb. I’m currently in search of a property in Miami to get started ASAP. I just need the right person that have more knowledge than myself. I’m also awaiting to take my state exam to be a licensed real estate agent. I’m going to look into the 3 condos that you mentioned but I wouldn’t mind getting more info from you. Thanks 🙏🏽
Unfortunately in Miami, it would need to be purchased. It's different than any other areas like New York where you can sublet the unit. Airbnb rental arbitrage in Miami doesn't exist.
Hi, thanks for your information. Any tips on getting a rental in downtown Brickell area to use as an Airbnb? I’d have strict ground rules for all guest but it seems like the buildings don’t allow it. How can I find which buildings allow. I’d like to rent first before owning something.
Hi. You’re welcome. It’s tough in Brickell but there are some places. There are more and more pre-construction projects that are being built there (we’ve sold a few, some are available still), so more will be available in the future. So right now, anything that has a hotel component would work. So think one of the towers of Icon Brickell. There are some buildings that allow 30 day rentals up to 12 times per year.
Hi Amit, can you make a video on rules/regulations in fort lauderdale for STR using artbritage? Or can I contact you for clarification what I already know?
Hi, Mariam. In most areas of South Florida, owners don't want to do rental arbitrage like New York and other areas. During my 18+ years as an agent, I have never seen or heard of an owner in Ft Lauderdale allow rental arbitrage. Sorry
I would love to get my next unit in South Fl. I’m located in Tennessee and it would be a vacation property. I’m looking to lease preferably but if it makes sense I’d look into buying. Does anyone work with private owners who are looking for a long term leasee? Willing to sign at 2 + year lease.
If a person *does* do a legal Airbnb in a Miami Beach condo, does the law require the owner to live at the address for over 6 months out of the year *everywhere* , or is that a rule that only applies to certain zones? Meaning are there any zones in Miami Beach where you can own the property and rent short-term, but never live at the address?
The answer to this is pretty complex. Miami Beach is very different than most areas of South Florida. There are specific areas that allow short-term rentals and MANY that don't. Some only allow once every six months or less, and some allow much more frequent short-term rentals. Sorry that this answer doesn't break it down completely, but the last thing I want to do is give you the wrong information that could severely impact you financially in the future.
@@ALLinMiami I appreciate the response. If I was able to make my way down to Miami this coming Fall-Winter maybe I could reach out for an actual meeting. Covid permitting🤦♂️.
@@ek07305 I don't have a map. Whenever I advise clients, I err on the side of being conservative with my answers. I do my best to avoid Miami Beach. Way too many restrictions and possible future ones. I would recommend doing Airbnbs in Unincorporated Miami-Dade County for single-family homes and for condos, buildings that were built recently for Airbnbs.
With all the new regulations and complains, Airbnb are things of the past ! Thanks God. It's awful to be next to a condo owner who rents his place short term to anybody partying all night and smoking pots.
Thanks for watching. I think buildings built with an hotel component in them will continue to do well. But I do agree that many are like you described.
It seems like the return on investment is getting less and less on Airbnbs in South Florida. So you will probably get what you want in the future. Less Airbnbs.
