Over half of all new condos being built in Miami are specifically for short-term rentals

[Corrie22]

over half means most.....now who didn't see this one coming
...most of these condos would not even come close to the definition of affordable housing anyway

you can't blame people one bit....
you have a piece of property....do you develop low income....or make a hell of a lot more money

"Real-estate firm ISG World reported that 31 pre-construction condo buildings in the Miami region are primed to be turned into Airbnbs"

"A total of 10,335 condo units are in the pre-construction phase across Miami-Dade County and nearby Broward County - and more than 50 percent of the total condos are set to be short-term rentals, the firm's first quarter report found."

https://www.dailymail.co.uk/news/art...y-rentals.html

[Arcenal813]

LOL! A few months ago, I was planning a stay in Miami, and my son has a strong preference for condos over hotels, so I went on Airbnb looking for something in the downtown/Brickell area. Brickell alone has THOUSANDS of listings. It's absolutely nuts. Were Airbnb and short term rentals not a thing, all of those towers would be hotels.

[Corrie22]

I'll bet...if the truth was known.....it's a whole lot more than half.....I would guess more like most
not everyone does full time Airbnb

[beach43ofus]

Don't those buildings have HOA rules against short-term rentals?

I'd never buy a condo in a building that doesn't require at least a 6 month lease?

Short term rentals = trouble...they don't care for the property like a long term renter or owner, & they normally have higher incidences of crime. They are normally an HOA's worst nightmare trying to enforce HOA rules on short-term renters for pets, noise, party's, parking, # of guests, ect..

Who rents them? Snow birds? Work from anywhere younger snow birds? Are they mostly empty in the Summertime?

[Arcenal813]

Originally Posted by beach43ofus

Don't those buildings have HOA rules against short-term rentals?

I'd never buy a condo in a building that doesn't require at least a 6 month lease?

Short term rentals = trouble...they don't care for the property like a long term renter or owner, & they normally have higher incidences of crime. They are normally an HOA's worst nightmare trying to enforce HOA rules on short-term renters for pets, noise, party's, parking, # of guests, ect..

No, they don't. They are built specifically with short term in mind. Many being built specifically FOR that.

https://www.wired.com/story/luxury-a...iamis-skyline/

It's been going on for a long time.

[CXT2000]

Originally Posted by Corrie22

over half means most.....now who didn't see this one coming
...most of these condos would not even come close to the definition of affordable housing anyway

you can't blame people one bit....
you have a piece of property....do you develop low income....or make a hell of a lot more money

"Real-estate firm ISG World reported that 31 pre-construction condo buildings in the Miami region are primed to be turned into Airbnbs"

"A total of 10,335 condo units are in the pre-construction phase across Miami-Dade County and nearby Broward County - and more than 50 percent of the total condos are set to be short-term rentals, the firm's first quarter report found."

https://www.dailymail.co.uk/news/art...y-rentals.html

File this one under "no **** Sherlock"... like I said, most housing down here is built for investors and short term rentals, not permanent housing.

Right once again....

[Corrie22]

Originally Posted by beach43ofus

Don't those buildings have HOA rules against short-term rentals?

nope, they are setting them up with very loose rental restrictions......


the problem as I see it is going to be crime in these buildings

Miami already has a crime problem in these big apartment buildings....this is going to make it a whole lot worse

[bale002]

I wonder if the owners will be charging and reporting hotel tax like they are supposed to by Florida law.

Originally Posted by Corrie22

nope, they are setting them up with very loose rental restrictions......


the problem as I see it is going to be crime in these buildings

Miami already has a crime problem in these big apartment buildings....this is going to make it a whole lot worse

My real estate agent recently told me about crime in these big apartment buildings. So this is the second time in a week that I’m hearing about it.

[elchevere]

Originally Posted by bale002

I wonder if the owners will be charging and reporting hotel tax like they are supposed to by Florida law.



My real estate agent recently told me about crime in these big apartment buildings. So this is the second time in a week that I’m hearing about it.

There was a shooting at Panorama (luxury apartment building) this past weekend.

https://www.nbcmiami.com/news/local/...3308436/?amp=1

https://wsvn.com/news/local/miami-da...ong-residents/

[Arcenal813]

Is it relatively safe to stay at these condos via Airbnb, or should I just stick to name-brand hotels when in Brickell?
Airbnb rentals have the convenience of having multiple bedrooms and bathrooms, and a kitchen, which is why we often get those.