Fisher Island owners beware! Connect with us at Island Leasing to help review if your property is under the City of Miami Beach city code ordinance, so that you can avoid violations for short term rentals.
Recently, it was announced that the City of Miami Beach has drastically increased fines for short term rentals of prohibited properties such as single family homes and other zoning districts. It has been reported that these fines start at $20,000 for first-time violators, then double, and then triple for continued violations. This is a stark difference from previous fines starting at $500 and topping off at $7,500. Clearly the impact of Airbnb and the high demand for ultra luxury private vacation homes in Miami Beach have taken too much hotel business, somebody took notice.
For example:
“Reed Zaroff, a veterinarian and real estate investor, owns the five-bedroom, 3,588-square-foot house at 244 West Rivo Alto Drive. Zaroff has been fined repeatedly by the city for illegally renting out his waterfront home: on May 21 for $20,000, June 15 for $60,000 and June 16 for $80,000. Jamey Kolka, CEO of the luxury vacation rental company SoBeautiful Lifestyle, was also fined $60,000 in June. His company was also fined $20,000 in May for the same home.” Read full article published on The Real Deal – Miami Beach fined short-term rentals $1.6M over the last five months
There have been many recent cases involving these types of violations, here’s a great overview of what’s happening on Belle Isle Key – Belle Isle Key fined $20,000 for short-term rentals
Fisher Island is one of the world’s most luxurious vacation rental areas off Miami Beach. Therefore, it’s vital to stay informed with new updates and changing fines that are shaping the balance between owners and tourists. Island Leasing aims at helping owners navigate through these issues and facilitating the best experience for both Fisher Island owners and visitors. Our experienced and informed group of real estate professionals is ready to help answer your questions.