Magna Miami Luxury Rentals (2024)

FAQs

Where are short-term rentals allowed in Miami? ›

Short-term rentals are allowed in the City of Miami's structures that are approved by the building department for the use of lodging in certain transect zones. You can see Miami's transect zones and a structure's current permitted land use (residential, lodging, commercial) by visiting the official Miami zoning map.

Practice Safe Renting

However, pursuant to the Miami Beach City Code (Sec 142-1111) and City Code (Sec 142-905 (b)), vacation/short-term rentals are prohibited in all single-family homes and in many multi-family housing buildings in certain zoning districts of Miami Beach.

Pursuant to the City of North Miami Beach Code of Ordinances, short-term rentals are permitted three (3) times in a twelve-month period. Hosts are required to register their property with the City's Community Development Department in order to offer short-term rentals.

In October 2019, the Miami-Dade Circuit Court invalidated Miami Beach's short-term rental law based on the fines. Florida state law bars local governments from fining residents more than $1,000 per day for the first infraction and $5,000 per day for repeat violations.

If you are renting out an entire unit or dwelling (ie. listings that rent out individual rooms are not eligible), you will need to get a State Vacation Rental Dwelling License from the Florida Department of Business and Professional Regulation (DBPR) either online or by mail.

For any short-term rental in Florida, including those offered through platforms like Airbnb, the state imposes a sales tax on rentals that are for periods of less than six months. This statewide Florida Transient Rental Tax is set at 6% of the listing price, which includes any cleaning fees.

The city of Miami has the most Airbnb short-term rental listings per 100,000 people of any large city in the United States, a recent report stated. According to the report by ChamberofCommerce.org, as of May, Miami had 6,962 Airbnb listings, or 1,478 listings per 100,000 people.

High Rental Yield

According to Mashvisor, an online real estate analytics company, the average Airbnb rental yield in Miami is around 7.3%, which is higher than the national average of 6%. This means that investors can expect to earn a considerable amount of income from their Airbnb rentals in Miami.

Is Airbnb legal in Key Biscayne? ›

Vacation Rentals may operate within the Village of Key Biscayne, subject to the following provisions of Section 7-31: The owner of a Vacation Rental must obtain a Business Tax Receipt in accordance with Article II. Chapter 25 of the Village Code.

These travelers generated 49.2 million room nights across 221,600 properties. The South Florida Business Journal published a study in May 2023 that found that Miami has the most Airbnb short-term rental listings per 100,000 people in the country.

Beach house investment FAQ

With a well-kept property, in a popular destination, with sought-after amenities—yes, it's possible for a beach house rental to pay for itself by offsetting your mortgage and other expenses.

In Florida, subletting is allowed. However, a tenant will not be permitted to sublet a rental apartment if the primary lease agreement forbids it.

Short-term rental eligibility

Any hosts in condo associations/HOAs must have a letter from such association/HOA stating that the short-term rental is allowed, dated within 60 days from the application date (and the condo association/HOA must also have its own business tax receipt).

One of Florida's statewide mandates for short-term rental properties is that if you rent a property more than three times a year for less than 30 days at a time or if you publicly advertise your property for rent in this capacity, you must acquire a Florida short-term rental license from the state.

In total, a 6 percent tax is collected on the rental amount from any person who rents, leases or lets for consideration any living quarter accommodations in a hotel, apartment hotel, motel, resort motel, apartment motel, rooming house, mobile home park, recreational vehicle park, single family dwelling, beach house, ...

The new Miami rent increase law requires landlords to provide at least 60 days' written notice to tenants before increasing the rent by more than 5% or terminating a month-to-month residential rental agreement.

The areas of the County that do not fall within municipal boundaries comprise the unincorporated area of Miami-Dade. With a population exceeding one million people, the unincorporated area, if declared a city, would form the largest city in Florida and one of the largest in the nation.