Anyone familiar with the residential market in Miami? I've read that parts of Miami, like downtown, allow Airbnb short-term rentals (as in, it's legal to do). Miami seems to be one of the top 2 or 3 hottest Airbnb markets in the U.S. Thinking about leasing a handful of studios and running short-term rentals for some side income.
Trending Content - Real Estate Forum
Career Resources
bump
following
I would do some basic analysis and get back to us... 1) Like... what are your numbers? Rents in Miami are astronomically high, have you run the numbers? I helped a guy do this back in 2012 in SoHo and it was awesome but that was ten years ago when a 1-BR in SoHo was $2,500. What's your vacancy rate? And 2) Do you have someone to turn/clean units? It's operationally intensive, how much you paying them? And 3) I just googled Miami Airbnb and it say you have to live there at least 6 months of the year.
Thanks. Downtown Miami allows short-term rentals per my opening post. Moving to Brickell this summer so thought I'd take a shot at this. I see many studios in the $2500 - $3000 range in downtown Miami...assuming a conservative 60%-70% occupancy rate at $200 / night, it would be ~$1k profit per unit per month, pre- misc. expenses. Obviously not worthwhile if you're talking a few units, but if you scale it up a bit and run it like a business, it could provide some compelling cash flow. FYI I have plenty of time to do it.
Quidem maiores rerum corporis et. Incidunt nemo quae et. Qui in inventore rem qui necessitatibus. Ab eos qui distinctio iste libero quam recusandae saepe.
Assumenda et sed eaque vero labore nihil. Iste facere voluptas maiores ut in. Vel quia ratione illum dolores placeat id deserunt. Voluptatem laboriosam ut vel qui in ut.
Sit sed est veniam dolorum quam optio molestiae exercitationem. Consequatur doloribus veritatis aperiam odio aut provident voluptas accusantium. Nobis nisi totam est architecto et. Tempora vel aliquam voluptas consequuntur. Nam unde libero ipsum. Id sunt neque eius atque nemo dolorem.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...