Watch the video on YouTube (English subtitle)
If the goal is to position oneself in the short-term rental market, such as Airbnb, condos must be ruled out from the start. Most condominium associations have rental restrictions, making these properties unsuitable for short-term rentals.
Therefore, three types of properties can be focused : townhouses, single-family homes, and fourplexes (multi-family housing). These are the options that allow for the possibility of using a property for Airbnb, provided — and this is crucial — that the city where the property is located permits this type of rental.
This is precisely the issue in Miami Beach. Even by purchasing a freehold home, it is impossible to use it for Airbnb rentals. An ordinance adopted in 2013 prohibits all short-term rentals. The city defines “short-term” as any rental of less than six months and one day. This rule applies to both condos and houses located in residential zonings.
In practice, the entire residential zone is excluded. To legally operate an Airbnb, two conditions must be met :
The building must be located outside the residential zone to avoid the municipal ordinance,
The condominium association must not have passed any internal restrictions regarding short-term rentals.
These two criteria significantly reduce the number of eligible properties. And since scarcity is higher, these properties naturally increase in value.
They are considered income properties, which further enhances their appeal and price.
