Rental Basics in Miami Beach>Question Details

V, Home Buyer in Orlando, FL

Rental rules with condo board & Management company

Asked by V, Orlando, FL Sun Dec 4, 2011

I am interested to invest in a Miami Beach condominium that is on the ocean front. I would like to rent this unit on a week by week bases for families want to spend their time in Miami.

Here are some questions :

1. I hear there might be rules against weekly rentals by condo board. Is this true and common restriction ?
2. Since I am not a resident of Florida, I would like to deal with a management company. What is their going rate to manage this kind of arrangement ?


Help the community by answering this question:



Simply put, given your criteria your best bet will be a condo hotel property. There are a variety of options available in Miami Beach. To name a few, you may own a condo hotel at One Bal Harbour, Canyon Ranch, Fontainebleau, W Hotel and Setai. This is a very hands off investment with the hotel managing the rental. It is typical for the hotel to split the income 50:50 and send you quarterly payments.

Feel free to contact me to learn more about these properties.


Bryan Sereny
Web Reference:
1 vote Thank Flag Link Fri Dec 9, 2011
Hi Dan
Usually condo associations do not accept weekly rentals due to the owners of the condominium don't want their building become a hotel and that would depreciate their properties' value and in consquence no financial institution will mortgage a property. You should consider to invest in a condo hotel.
Also property management rates will vary depending on your agreement and that would start at 10% and up of the rental price.
Truly yours,
Angel Calzadilla, CIPS, TRC, e-Pro, Relocation Marketing Assistant
Prudential Florida Realty
6175 Bayview Drive
Fort Lauderdale, FL. 33308
1 vote Thank Flag Link Sun Dec 4, 2011
Dear Dan,

Thank you for contact us,

Reference to condominiums rules are normally three : Many condominium allow to rent twice a year, means that could be rent for every 6 months, many other ,you can rent once a year and in others after you purchase them ,the new owner must wait one year from the day you buy it to rent it, that depend on each condominium association. Also you have the Condo hotels, These one you can rent in a weekly terms.
Normally, the management fee could be by 10% of the monthly rental.

If you need further information, fell free to contact me, I live and work on Miami Beach for the last 25 years, I guess I could be the right realtor to work with you.

Thank you
Best Regards
0 votes Thank Flag Link Mon Dec 5, 2011
Some condo developments only allow a 3 month or 6 month rental. They usually require approval and do background checks on tenants. Not all HOA associations will do this though. It is best to get a copy of the rules and regulations from the particular condo development ahead of time to be sure it will allow you to do what you are looking to do. There are sevaral property management companies that can handle rentals for you. Some condo developments will have a management company on site that can take care of it for you. Either type will charge you a fee. Read the rules and regs and if it is not spelled out for you, call the management company directly to have them answer any questions for you. Some have specific paperwork already set up for tenants. Best of luck.
0 votes Thank Flag Link Sun Dec 4, 2011
Hi Dan,
I have several suggestions for you. One is a condo that allows monthly or a minimum of 3 month rentals. It is very common for people to spend the winter, up to several months, in Miami. I have several clients that rent their condos this way.
The second option is a condo-hotel, which will allow daily,weekly or monthly rentals and the hotel will handle the management for you and the fees vay, which you will find as you inquire about various listings. The fees are usually split with the hotel so that you will ocver your expenses. I am familiar with the various condo hotels in the Miami Beach and Sunny Isles area.

On a regular condo, many realtors do the managments, such as me. We have to price the fee accordingly, but it is very reasonable, and if you have a condo the only issues you would have maintenance- wise are within your unit, and you can purchase a very inexpensive maintenance contract to cover the applicanes and air conditioing. Generall about 300.00/year. I can handle the rental of your unit as well. My company has a very active rental web-site.

There are many things to discuss with the details of a purchase, such as if you ar paying cash or needing to finance, your budgest, etc.
It is best to discuss this by email or phone, at your convenience.

I would love to hear from you and offer you my suggestions.

Best Regards,
Beth Jenkins
South Florida Brokers
Web Reference:
0 votes Thank Flag Link Sun Dec 4, 2011
Hi, I get these questions all the time. Your best bet is to contact the management directly as they will give you the most accurate and up-to-date info. if you are working with an agent they should be able to get you the number, unless you already have it.

Christopher Pagli
Licensed Associate Broker
Accredited Buyer Representative
GREEN Designated Agent
William Raveis Legends Realty Group
0 votes Thank Flag Link Sun Dec 4, 2011
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