In Miami, it is easier and more profitable to lease for the long term. Condominiums or housing developments are much more stringent when it comes to short-term leases (Airbnb, booking.com, tripping). The main reason is that residents do not like to have a new neighbor every 3-4 days (understandable). There are rules from certain administrations where they allow renting 3-4 times a year, but in general they are stricter.
There are also projects that are created from the beginning thinking about short term renting, but they are few, it is important to find out before finishing the purchase what are the general rules of administration or “Home owner association”.
Before investing in Miami, we recommend you to get good advice about the environment, analyze information about rental periods of properties in the neighborhood, average prices of similar properties that are for rent or purchase, projection of the city where the asset is located and a lot of information that your advisor has to provide.
Orlando is different, it is one of the most visited cities in the world, thanks to its amusement parks like Disney and Universal, there is a lot of short term tourism, with a lot of rotation. There is also a great offer of hotels and short-term rental properties.
Our recommendation in Orlando, if the objective is profitability, would be to rent but in the long term, try to avoid as much as possible the market of short term rentals, unless you want to use the property and do not care much about the return of your investment.
Our recommendation in general is to select the asset with tweezers at the time of investing, since many times it is cheaper to be a tenant than an owner. This can happen in cities where the supply of condominiums and hotels for short term rentals is higher, which generates a price battle that can affect the profitability of the assets at the time of renting them, problems that do not happen as much when one chooses stability and attractive areas for residents and long term rentals.
