What you need to know before you rent:
Rental time frame: Under normal circumstances short term rentals are sold on a per month basis. Now what happens in many cases is many clients are only vacationing for a few weeks, so they lease the unit for the month, use only for the time required, and then vacate the unit for the remainder. So one might think this is a waste, since they will not be using the unit for the time they paid for, but when an analysis is done based on hotel cost for 14 days verse a monthly rental, the numbers usually favor a monthly rental. Plus you get the comfort of having an a full apartment verses just a hotel room.
- Season rental prices: The price you are going to find on 99% of the websites have the price listed on a yearly base, so this price is always lower than a price for a short term rental, and the price difference can be quite substantial (even more so if looking for a rental during high season months of November to April). The price can vary from 25-50% of the published yearly.
- Resort tax: The city of Miami Beach charges a 13% resort tax on all rentals shorter then 6 months, this is due to the fact the Miami Beach is a resort town with a large number of hotels, and these hotels lobbied the city, since it was in their belief that owners of condos renting for short periods of time where under cutting their efforts to capture business. So the city imposed this resort tax to "level the paying field". This tax is to be added to the price of the rental.
- Condominium application fee: There are always a few other fees that will come into pay when renting short term, 1st is a non-refundable application fee which is usually between US$100-200.
- Cleaning fee: There is almost always an exit cleaning fee, this fee is to ensure that once the current tenant has departed the unit, a team of cleaners can come in and thoroughly clean the unit to ensure that it is in a presentable condition for the next tenant.