Thinking of converting Miami beach condo into Airbnb but don’t know where to start? While there are exciting opportunities, the restrictions are also strict. It is important to know what you are getting into before you do anything.
This post will cover some of the information you need before converting Miami beach condo into Airbnb.
Converting Miami Beach Condo into an Airbnb
Check Eligibility
Homeowners in Miami Beach looking to rent their properties for short-term stays must adhere to the city’s guidelines. Per law, the host must be the owner on the warranty deed and property tax bill. At the same time, condo associations/HOAs also need a letter of approval within sixty days before the submission date. You will also need your business tax receipt.
Check The City’s Zoning Rules
Airbnb Miami Beach has strict zoning regulations limiting short-term rentals to specific residential areas. You will want to consult the city’s zoning map before investing in a property for short-term rentals. Investors need to know if the area allows short-term rentals.
Register
Registering your property for short-term stays requires you to get a:
Miami Beach Business Tax Receipt (BTR) number
Miami Beach Resort Tax Certificate number
Florida Vacation Rental Dwelling License
If you already have your Resort Tax Certificate and Business Tax Receipt numbers, enter them into your listing.
Obtain a Resort Tax Certificate Number
Applying in person for your Resort Tax application is the best way to get speedy approval. The resort tax registration application has a $25 fee attached to it.
Tax Laws
Miami Beach is home to a unique tax system. For example, you will need to add the state’s 6% sales tax to the cost of bookings. Along with that, Miami-Dade County has an additional Tourist and Development Tax of 6% on the booking price.
Check Condo Association Rules for Airbnb Investment
Before listing your short-term rental, you need to know the condo association’s rules. Some might have rules concerning the minimum booking length or the number of people who can stay at a condo. You’ll also find condo associations that ban short-term leases.
Hosts should also be aware of community rules. Consider parking and vehicle restrictions and rules about pets. Noise restrictions are also significant. You must ensure you and your guests respect the rules of the community.
These are the things you need to do when converting Miami beach condo into Airbnb.
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