“We acknowledged that, especially in downtown Miami, a large part of the ownership universe is not local,” he said. “It resides out-of-state and overseas. Absentee owners use their home several months over the years, and the ability to offer the buyer universe a flexible rental option is ideal. We know people want it. We know people like it. We said, ‘Why not be proactive about it?’”
Airbnb-style rentals are a growing cash cow for developers and owners
June 26, 2018