Miami Florida Short Term Rental

[Jesse Baymer]

Good evening BP,

I have been looking into getting a condo in the Miami, Florida area that I can STR. If anyone on here has one, I'm wondering how well these units do throughout the year?

I’m currently looking at 2 bed, 2 bath units with a view for hopefully $400,000-$500,000. Similar units seem to rent out at $3000-$4000 a week on AirBnB. But that’s during the winter. What I can expect for vacancy and rental pricing through out the whole year? Also how much would you say you spend for cleaning staff through out the year?

Any information would be greatly appreciated. I would need to really crunch the numbers before I put an offer in. At first glance even with high HOA fees it seems like it can do well. But I definitely need to know for sure before I go any further with this. Thank you in Advance.