Welcome to the page for Investment Condo Buildings in Miami and Fort Lauderdale, Florida. For more information on all condos for sale in this type of building, please see active listings below. For expert care when buying or selling condos in South Florida or for all real estate services in South Florida and Miami, contact Skyrise Lab. Sign up for a free account to be notified when new listings in this building become available.
Why own a condo in South Florida?
The idea of owning a condo in Miami is at the top of the list for many who love visiting the Magic City. Condos are extremely alluring in South Florida because of the many amenities and perks that come with being a resident and owner. As an internationally known seasonal destination, many investors love the simplicity of owning a property, using it as they see fit and locking up and leaving back home without stressing about maintenance, upkeep, security, etc. These are all things condo living takes away. But perhaps the most alluring is the ability to rent out the property while it is not being utilized, and offset costs or make a profit. But not every building allows you to do so as you please. See below all the info you will need to help you identify the condo building to suit your needs.
All buildings have their own set of rules that residents must live by. One of these sets of rules is the buildings' "Rental Policy" or "Rental Restrictions", in short this sets a limit for:
- The minimum or maximum amount of days a property can be rented for
- How soon after ownership, it can be rented,
- How many times per calendar year this is allowed to take place
Most condo buildings have stricter rules allowing owners to rent for a minimum of 90 or 180 days (6 months) and only being able to rent out two to four times per calendar year, immediately after ownership. However, some buildings will require you to own the asset for more than a year and up to two years before renting it out.
Through the rise in popularity of rental property platforms such as Airbnb, Homeaway and Vrbo to name a few, property owners saw the opportunity to rent out their homes while they did not occupy them. This became an issue, as the condominium documents and rental restrictions put in place in many of these buildings did not allow for daily rentals, and even if they did, they frowned upon third party services like Airbnb.Many property owners were faced with dealing with multiple complaints from their condo associations, as well as being fined by the city.
Due to this, Real Estate Developers saw an opportunity to solve for a need in the market, and created projects solely with the intention of allowing owners to rent out their investment units:
- Monthly or annually
These projects have been an amazing success, with each new proposal that has launched it has, they have sold out in months. Examples of this are:
- The Elser (Society Residences)
- 600 Miami Worldcenter
- e11even - coming soon
- The Crosby
- Distict 225
Included below are building with homes for sale that are Airbnb Approved condos in Miami. If you would like more information on any of these Airbnb Approved projects, click on a property to access the full details. For scheduling a tour or requesting any additional information such as floor plans, past sales history, and more, contact us.
What is the difference between Hotel Program and Airbnb Approved?
Much like Uber did not invent ride-sharing, Airbnb did not invent real estate daily rentals. All these platforms did, was put the power in the hands of the user. But before they existed, the only common way for property owners to purchase a condo and rent it out daily was through condo-hotels with many of the nationally and internationally renowned flags that everyone is familiar with, such as:
- The Conrad
- The Hilton
- The W
While these types of properties allow the owner to own a condo that is managed by the hotel through what is called the "Hotel Program", and offers all the services expected from this caliber of brand these can at times be limiting.
These Hotel Programs all differ but typically they offer a hands-free approach for the owner, who does not need to worry about:
- Maintenance or upkeep
- Renting out the property
- Or dealing with the rental process and/or tenants
- The revenues are commonly split 50/50 with the owners and the Hotel
This is why most Condo Hotels DO NOT allow owners to rent out their properties through 3rd party services or Airbnb.
**One important fact to denote, is that Hotel Programs typically limit the amount of times per calendar year property owners are able to occupy the home, it commonly 30 days per year and dates such holidays are commonly blacked out so that the hotel can rent the property at a premium.
Included below are building with homes for sale that are Condo-Hotels in Miami. If you would like more information on any of these Condo-Hotel projects, click on a property to access the full details. For scheduling a tour or requesting any additional information such as floor plans, past sales history, and more, contact us.
Condos that do allow daily rentals are just as it sounds. These are condos that have decided in their condominium documents and rules and regulations that it is okay for a property owner to rent their property out freely.
Due to the nature of freedom these rental platforms have given property owners, many have come together in their condominium boards and have decided to put these buildings on a trial basis to see what the outcomes are. Some have tried and decided to revert their policies, while others have been able to do so successfully.
Included below are building with homes for sale that are Daily Rental Approved condos in Miami. If you would like more information on any of these Daily Rental Approved projects, click on a property to access the full details. For scheduling a tour or requesting any additional information such as floor plans, past sales history, and more, contact us.
The best compromise many buildings have found has been a 30-day minimum rental period policy.
- This allows property owners the flexibility of renting out their home for a minimum of 30 days on the off months that they are not in town.
- Many of the buildings that offer this type of policy allow owners to rent the property up to 12 months a year, and owners can decide for how many months they rent it out.
- This approach is suitable for snow-birds, or those who choose to live in Miami between three and six months out of the year.
- It is also good for the building as it allows for a more residential feel and not as transient as a condo-hotel might be.
Included below are building with homes for sale that are 30 Day Minimum Rental Approved condos in Miami. If you would like more information on any of these 30 Day Minimum Rental Approved projects, click on a property to access the full details. For scheduling a tour or requesting any additional information such as floor plans, past sales history, and more, contact us.