North Miami Beach, Florida, is experiencing robust short-term rental performance, with high occupancy rates of around 64%, average daily rates of $313, and significant annual revenues, making it a lucrative and competitive market for hosts and investors.
Thriving Short-Term Rental Market in North Miami Beach, Florida
North Miami Beach, Florida, is experiencing a robust and lucrative short-term rental market, making it an attractive destination for both investors and tourists. The area boasts a strong occupancy rate, with short-term rentals averaging around 56-64% occupancy throughout the year.
The average daily rate for these rentals is particularly impressive, ranging from $102 to $387.1, with peak rates reaching as high as $445 in March during the peak tourist season. This consistent demand, driven by the area's beautiful beaches, cultural sites, and recreational attractions, ensures high booking rates and significant revenue for hosts. With average annual revenues for hosts reaching up to $63,200, North Miami Beach stands out as a highly profitable and competitive market for short-term rental investments.
Short-Term Rental Regulations in North Miami Beach, Florida for 2024
Rental Frequency and Duration
- Single-family dwelling units, including townhouses but excluding mobile homes in the MH-1 Zoning District, cannot be rented or leased more than three times in a twelve-month period if each rental period is three months or less.
Registration and Documentation
- Property owners must register with the City of North Miami Beach and obtain a certificate of registration. This ensures the property meets all necessary requirements and allows the city to maintain a database for compliance monitoring.
Mandatory Conditions for All Rentals
- All short-term rentals must be formalized through a binding written agreement, license, or lease, including the start and end dates of the rental period and the lessee's contact information.
Supervision and Contact Person
- Each rental must be supervised by the owner, a manager, or a licensed real estate broker or agent authorized by the city. This person must be available 24/7 to address any issues.
Entire Residence Rental
- Only entire single-family residences and townhomes can be rented out. Renting out individual rooms or separate portions of the residence is not allowed unless the property owner resides on the premises and leases the unoccupied portion as one tenancy.
Advertising Restrictions
- Advertising a property in a way that promotes its use in violation of these regulations is strictly prohibited. Such advertising can lead to enforcement actions against the owner.
Safety and Compliance
- Properties must comply with the City’s Minimum Property Maintenance, Building, Electrical, Mechanical, and Plumbing Codes. Smoke detectors, fire extinguishers, and emergency contact information must be provided.
Transient Rental Tax
- Vacation rentals are subject to a 6% transient rental tax imposed by the State of Florida, applicable to rentals of 182 nights or less.
Enforcement and Penalties
- Violations can result in fines, penalties, and the revocation of the business tax receipt or short-term rental certificate. The city may also seek an injunction to enforce compliance.
Additional Requirements
- The property owner must provide proof of compliance with all city codes and ensure there are no outstanding taxes or liens on the property. A 24-hour contact person must be designated and available at all times.
Top Neighborhoods for Airbnb Revenue in North Miami Beach, Florida
1. North Beach
- Appeal: Known for its historic districts, quieter beaches, and a more relaxed vibe compared to South Beach. Guests appreciate the peaceful oceanfront environment, proximity to Miami’s attractions, and the availability of high-rated vacation rentals with amenities like pools, hot tubs, and modern kitchens.
- Metrics: Average Daily Rate of $311.1, with a maximum in April at $336. Occupancy Rate of 52%, peaking at 65% in February.
2. Normandy Isles
- Appeal: This set of islands within Miami Beach is known for the Normandy Shores Golf Club and picturesque residential areas. Guests are drawn to the serene waterfront homes and the tranquil atmosphere, which offers a break from the hustle and bustle of city life.
- Metrics: Part of the North Beach area, contributing to its overall high revenue and occupancy rates.
3. Biscayne Point
- Appeal: Located north of Normandy Isles, this primarily residential area is popular for its many waterfront properties. Guests enjoy the scenic views of Biscayne Bay and the Miami skyline, along with easy access to local attractions.
- Metrics: Integrated into the broader North Beach market, which sees significant revenue from Airbnb rentals.
4. North Bay Village
- Appeal: This island municipality between Miami and Miami Beach offers a unique blend of tranquility and proximity to bustling areas. Guests like the array of waterfront properties, restaurants, and the serene atmosphere.
- Metrics: While specific revenue figures are not provided, its popularity among guests contributes to the overall Airbnb revenue in the North Miami Beach area.
5. Sunny Isles Beach
- Appeal: Known for its modern condos, ocean views, and free parking. Guests are attracted to the luxurious amenities, such as heated pools and modern kitchens, and the close proximity to the beach and other Miami attractions.
- Metrics: Average prices range from $150 to $353 per night, with some properties offering significant discounts, making it a lucrative area for Airbnb hosts.
These neighborhoods are highly appealing due to their combination of scenic views, modern amenities, and convenient access to Miami’s top attractions, making them prime locations for generating substantial Airbnb revenue.
Tips for Furnishing and Designing an Inviting Airbnb in North Miami Beach, Florida
Understanding the Local Vibe
- North Miami Beach is known for its coastal charm, vibrant nightlife, and unique dining options. Reflect this in your design by incorporating coastal, tropical, modern, and minimalist elements.
Key Amenities and Features
- Outdoor Spaces: Ensure your Airbnb has patios, balconies, or access to pools and hot tubs, especially those with ocean views, to enhance the coastal experience.
- Proximity to the Beach: Highlight the proximity to beaches and local parks to attract guests seeking a beach getaway.
- Fully Equipped Kitchens: Include modern appliances, high-speed internet, and washer/dryer setups to meet guest expectations for comfort and convenience.
Design and Furnishing Tips
1. Coastal and Tropical Decor
- Use light colors, natural materials, and beach-inspired decorations such as nautical accents to create a relaxing atmosphere.
2. Modern and Minimalist Styles
- Incorporate clean lines, functional designs, and contemporary furnishings to appeal to a wide range of guests.
3. High-Quality Bedding and Furniture
- Invest in plush seating, quality linens, and stylish furniture to ensure guests feel at home.
4. Curtains and Window Treatments
- Add billowy white curtain panels and high-quality hardware to soften the room and create a sophisticated look.
5. Vintage and Local Elements
- Include at least one vintage item in each room to layer in character and soul. Use local artwork or nautical decorations to tie the space to its geographic context.
6. Entryway Design
- Make a bold design statement in the entryway with peel-and-stick wallpaper or hanging baskets with plants to create a welcoming first impression.
7. Living Room Enhancements
- Add occasional tables, an additional chair facing the sofa, lamps, and throw blankets to create a warm and inviting living room.
8. Smart Home and Entertainment Systems
- Incorporate modern technology such as smart home devices and high-definition entertainment systems to appeal to tech-savvy guests.
9. Family-Friendly Options
- Include play areas, safety features, and amenities like beach chairs, coolers, and kid toys to cater to families.
10. Attention to Detail
- Ensure all areas, including bedrooms, have thoughtful decor elements such as thick velvet curtains, rugs, and updated lamps to make the space more photographable and appealing to guests.
By following these tips, you can create an inviting Airbnb space in North Miami Beach that reflects the city's unique style and meets the high expectations of discerning travelers.
Discovering North Miami Beach: Local Attractions and Insider Tips
Local Attractions
Parks and Nature
- Oleta River State Park: Florida’s largest urban park, offering kayak and paddleboard rentals, 15 miles of mountain biking trails, a nature trail, and a secluded beach.
- Greynolds Park: A scenic park with a golf course, nature trails, and picnic areas.
- Arch Creek Park & Nature Center: A park featuring a nature center, trails, and opportunities for bird watching.
Cultural and Historical Sites
- Ancient Spanish Monastery: A 12th-century medieval Spanish monastery, the St. Bernard de Clairvaux Church, rebuilt in North Miami Beach in the 1950s. A popular spot for weddings and tourism.
- Museum of Contemporary Art, North Miami: Located nearby in North Miami, this museum features a permanent collection of contemporary art and hosts the Jazz at MOCA concert series.
Shopping and Dining
- Aventura Mall: A major shopping destination with a wide range of stores and dining options.
- Chinatown (NE 167th Street and North Miami Beach Boulevard): An unofficial Chinatown with a concentration of Asian-owned and operated businesses, offering a unique shopping and dining experience.
Recreation and Entertainment
- Judge Arthur I. Snyder Tennis Center: A comprehensive tennis facility with various courts, a clubhouse, and other amenities.
- North Miami Beach Public Library (Lafe Allen Public Library): A 23,000 square foot facility with a wide collection of materials, study rooms, and various services including early literacy programs and digital resources.
Insider Tips
Getting Around
- Central Location: North Miami Beach is strategically located between Miami and Fort Lauderdale, making it easily accessible from most parts of South Florida within 30 minutes.
Local Experiences
- Kayaking and Paddleboarding: Explore the mangrove-lined waterways of Oleta River State Park for a unique and peaceful experience.
- Community Events: Check out local events such as the Jazz at MOCA concert series or community gatherings at the North Miami Beach parks.
Dining
- Authentic Cuisine: Enjoy authentic Caribbean and Latin American cuisine at local restaurants such as those found in the nearby North Miami area.
Shopping
- Local Markets: Visit the unofficial Chinatown area for a diverse shopping experience with Asian-owned businesses.
Tips for Families
- Family-Friendly Parks: Utilize the various parks and community centers like Victory Park, Uleta Community Center, and Washington Park Community Center for family activities.
By providing these local attractions and insider tips, you can help your Airbnb guests make the most of their visit to North Miami Beach and enjoy a memorable stay.
Practical Tips to Run a Successful Short-Term Rental Business in North Miami Beach, Florida
To ensure a smooth and profitable short-term rental business in North Miami Beach, Florida, several practical tips can make a significant difference. Here are some key strategies:
Noise Regulations and Guest Communication
Inform your guests about the noise regulations and quiet hours to avoid any issues with neighbors. Clearly outline these rules in your digital and physical house manual to set expectations from the outset.
Comprehensive House Manual
Create a detailed digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important information. This manual should cover everything from appliance usage to emergency contacts, ensuring guests have all the information they need for a comfortable stay.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with clear instructions on how to access the property, along with photos to help them navigate any specific steps, such as parking instructions. This not only enhances guest convenience but also reduces the likelihood of check-in issues.
Parking Instructions with Photos
Include detailed parking instructions in your house manual, accompanied by photos to help guests identify the correct parking spots and any specific rules or restrictions. This attention to detail can prevent potential parking conflicts and ensure a hassle-free experience for your guests.
By implementing these strategies, you can enhance guest satisfaction, reduce operational headaches, and maintain compliance with local regulations, ultimately contributing to the success of your short-term rental business in North Miami Beach.
Here is a brief list of house cleaning providers in North Miami Beach, Florida:
House Cleaning Providers in North Miami Beach, FL
Merry Maids of Miami Beach
- Offers expert cleaning services with 40 years of experience.
- Provides meticulous processes and proven results for home cleaning.
- Services include standard and deep cleaning.
My Cleaning Angel
- Matches clients with local cleaners for various cleaning services.
- Offers one-time cleaning, move-in/move-out cleaning, post-construction cleaning, recurring cleaning, and vacation rental cleaning.
- Uses eco-friendly products and provides customizable cleaning packages.
MaidPro North Miami Beach
- Customizes cleaning services to meet client needs and budget.
- Offers weekly, bi-weekly, monthly, or one-time cleaning services.
- Uses a 49-Point Checklist™ to ensure thorough cleaning, and provides specialized cleaning plans.
Angi-Listed House Cleaners
- A list of 24 highly-rated local house cleaners in North Miami Beach.
- Services vary by provider but generally include standard, deep, move-in/move-out, and emergency cleaning.
Short-Term Rental Management Fees in North Miami Beach, Florida
In North Miami Beach, Florida, the fees for managing short-term rentals typically range from 10% to 30% of the rental revenue, varying based on the level of service provided. Full-service management, which includes comprehensive tasks such as guest communication, marketing, booking management, and property maintenance, tends to be on the higher end of this spectrum, often ranging between 20% to 30%.
Basic service packages, which may only cover essential tasks like listing creation and booking management, can be more affordable, starting at around 10% of the rental income. Additionally, hosts may incur extra fees for services like cleaning, repairs, and interior design, which can be charged separately or included in the overall management fee. Compliance with local regulations, such as obtaining a Vacation Rental License and a Business Tax Receipt, is also a critical aspect of short-term rental management in North Miami Beach.