A second home is a different purchase from a primary residence, and the differences show up in the monthly figure, the rental rules and the building you should be in.
This page covers the process. Which building suits you is a separate question. Contact the desk at Miami Dossier for the current position on any building we cover.
The monthly figure runs whether you are in the residence or not. Maintenance, insurance, assessments and utilities do not pause, and for a part time owner they are the dominant ongoing cost rather than a footnote to the purchase price.
An empty residence in a subtropical climate needs managing. Humidity, storm preparation, deliveries, contractors and the occasional leak all require somebody local, and that somebody is either a service you pay or a neighbour you are imposing on.
Buildings with a hotel component or a full service operation handle this materially better than buildings without one, which is a real part of what the branded premium buys.
Rental rules vary sharply building to building and they are set in the condominium documents rather than by the city alone. Some buildings permit short term rental, many permit a minimum of thirty days or more, and some prohibit rental for the first year of ownership entirely.
A building that permits short term rental behaves differently to live in. There is more turnover in the lifts, more wear on the amenity and a different relationship among owners. That is a trade rather than a defect, and you should know which side of it you are buying.
Do not assume rental income offsets the carry. We do not publish projections and we would treat any that you are shown with caution. What you can establish factually is what the rules permit, what the building actually charges to manage it, and what comparable residences have achieved.
Full service operation, ideally with a hotel beneath it or a management company with a defined standard. Lock and leave is a real category and some buildings are genuinely built for it.
A smaller building means more personal governance, which cuts both ways for an absent owner. You have more influence and you are also expected to participate.
Storm resilience and a documented reserve position matter more when you are not there to respond. Ask for the reserve study and the assessment history regardless of how new the building is.
United States real property is a US situs asset. On the death of a non-resident owner it can fall within the US estate tax net, and the exemption available to a non-resident is dramatically lower than the one available to a US person.
Some countries have an estate tax treaty with the United States and many do not. A Florida LLC on its own does not resolve this.
We do not advise on structure. We introduce US counsel, and home country counsel where it matters, before you are under contract, because restructuring an asset already held is slower and more expensive than holding it correctly from the start.
What the building permits, what it costs to run empty and who handles it while you are away will shape ownership far more than anything in the finish schedule. Contact the desk at Miami Dossier and we will get the rental rules and the operating budget for any building you are considering.
We hold no listings and we are not the developer. Contact the desk at Miami Dossier and we will tell you what applies to your situation, what does not, and where we would not proceed. For a second home that usually starts with the rental rules and the budget. Where a question is legal, tax or structuring, we introduce you to advisers who handle that properly rather than answering it ourselves.