When new buyers who are interested in buying Miami Beach condos contact us, one of the first steps we take is to set up a buyer’s consultation. During that consultation we discuss many details and explain the process of purchasing Miami Beach real estate. One question that often comes up for our out of town buyers is the desire to rent out the property during the time they are not using it, on and off during the year so they can make the most of their investment.
If this is a really important factor for you, you need to hire a buyer’s agent who knows the buildings and can help you search for properties that allow this type of renting. Honestly speaking, most Miami Beach condo buildings do not allow short term/seasonal rentals.
Miami Beach Condo Owners & Seasonal Rentals
To truly understand the mentality behind these rules, a lot of residents just don’t want the traffic of short term renters in and out of the building during the year. It can be a lot of wear and tear on the building and managing the security with that type of traffic can be challenging. So many buildings have tightened their rental rules.
Some buildings only allow one year rentals, some a minimum of six months, others certain periods throughout the year and some no rentals at all.
Most buildings on Miami Beach are pretty locked down in terms of security. The property managers and front desk manage the visitors and residents pretty tightly in terms of coming and going.
For instance in order to access most buildings you need to be registered with a special security key and in order to park inside the building, you will need parking permission.
But of course it’s not impossible to find a property with these types of options, you just need to know in advance that not every building in the city allows it.
What’s the important take away?
If one of your main goals is to rent your Miami Beach condo seasonally, you need to pay special attention to the building’s rules and regulations. You need to make certain (100%) that they allow short term/seasonal rentals. If I were purchasing the property I would delve even deeper into the “philosophy” of the building and make sure that the mentality of the building is geared towards seasonal rentals and that the management is geared to handle that type of traffic.
Hire a buyer’s agent who knows the buildings and can help you search for properties that allow this type of renting.
Do you have questions about what buildings on Miami Beach allow seasonal rentals? Give us a call today!
Are you just getting into the Downtown Miami or Miami Beach Condo Market? If so, what are your impressions where the market is headed? Please leave a comment and know we never share, rent or sell your contact info with any third party. We promise!
Copyright © By Jamey Prezzi 2013 * All Rights Reserved* Can I Rent This Miami Beach Condo Short Term During The Year?