Condo developments designed as home-sharing properties are multiplying. Will the trend spread to rental developments?
Condominium developments that allow owners to rent their units have multiplied in Miami, promising to turn the city’s urban core into a hub of high-rise home sharing. Speedy pre-construction sellouts of these niche developments suggest the market for rental-ready condos remains underbuilt in Miami.
In just five months, for example, Related Group reserved all 343 of the fully furnished units planned for District 225, a condo development in the West Brickell area that the Miami-based company has designed and promoted in collaboration with Airbnb, the dominant home-sharing platform. A website for the 37-story development in downtown Miami urges viewers to, “Live at District 225. Host at Airbnb.”
Read More at: https://commercialobserver.com/2022/03/the-rise-of-ready-to-rent-condos-in-miami/