Miami New development projects that allow short-term rentals
As you know the short term rental business has become increasingly popular around the world. For example in South Florida Airbnb hosts made $315 million in 2018 and took in a total of 1.47 million guests, according to their statistics. While real estate investors are happy the city and local residents are feuding. Because of many complaints from the locals, Airbnb and city of Miami Beach are in a legal war for the last 2 years. The city is fining the owners who have listed their properties on the short term rental websites like airbnb.com, booking.com, VRBO, apartments.com etc. The fines start at $20,000.
Just like Uber and Lyft have infiltrated the taxi business, Airbnb and other short term rental platforms gives the opportunity for real estate investors to double and sometimes triple their returns.
In addition, another profitable way to invest in real estate is to buy pre-construction. The payment schedules are more convenient because the property is paid over time from 1 – 3 years. Also, the pre-construction price is lower than the finished new development project or the resale.
A great alternative and solution for investors who want to capitalize on quick return profits from short term rentals are the options of these new developments. The perfect match is to combine these two benefits and to buy a pre-construction property which the city has already approve short term rentals.
Here are some of the newest projects available in Miami:
YotelPad – Downtown Miami is considered the gateway to the Americas, and Downtown is the connection to all of Miami. Just minutes away from the newly expanded Miami International Airport, directly across the bridge from the world famous South Beach, and immediately adjacent to neighborhoods like Wynwood and Brickell, YOTELPAD is truly at the center of it all.
They have zero rental restrictions. Clients have the freedom to place his unit in any short-term rental sites such as Airbnb, booking.com, and numerous others providing the client with another opportunity to maximize his profitability. Since there are no rental restrictions, units can be rented on a daily, weekly & monthly basis.
Or second option client can also place his unit in the Hotel rental program if he chooses, if the client is interested in either the leaseback program or the Hotel Rental program then a purchase of the furniture package will be required.
Click Here for more info about YOTELPAD, prices, renderings, location etc.
Smart Brickell Miami – 2 blocks away from Brickell City Center, Smart Brickell is located in the ever-growing neighborhood of Brickell in Miami, Florida. A project for all, conveniently located in Miami’s financial district near the hottest bars and restaurants the city has to offer. A pedestrian-friendly destination situated near all major highways and roads strategically positioned close to everything but tucked away from traffic.
The Smart Brickell rental program will allow for the unit to be rented 24 times per year, with no limit on the number of nights rented. Also, a property management can rent it on AIRBNB yielding a very good return; the developer has signed an agreement with Pillow, AIRBNB’s new platform designed to simplify the process of short-term rentals for investors.
The second option is a Lease Back Program: A very exciting program being offered, buyers can opt-in a 2-year leaseback with Habitat Hotels. Payments are made monthly – starting at closing. Offering an 8% annual return on investment.
Click Here for more info about SMART BRICKELL, prices, renderings, location etc.
Oleta House North Miami – Kosher friendly residences in North Miami. Just a few minutes from Aventura and Sunny Isles, from the tony shopping destinations in Bal Harbour and a short distance from the excitement of South Beach and Downtown Miami, it is also a world apart defined by relaxed sophistication. The property is offering sunrise and sunset pools, social room, an outdoor yoga garden, and a state-of-the-art gym are among the many amenities that bring the Oleta experience to life.
Click Here for more info about OLETA HOUSE, prices, renderings, location etc.