When it comes to the property market, everyone wants to know what the next big trend is. But just look under your nose and you might realize why the Miami property management market is booming.

Sun, sea, beaches and five-star entertainment; there are some destinations that have it all, like say Miami.

So it’s no surprise that Miami continues to buck the market trend, as one of the key destinations for inward investment in 2022. Testament to this, the city celebrated its highest January sales this year according to the Miami Association of Realtors, from both domestic and international homebuyers.

Whether you’re thinking about getting into Miami property management, or renting out your property to maximize income, here’s some insight into why Miami real estate is booming right now.

Florida’s low taxes
One of the big draws to Miami is its low tax rate, which is currently set at 5.5%. According to a recent report, Florida boasts the “sixth-lowest tax burden in the U.S. and ranked 44th in individual income tax burden and 45th in overall tax burden.” It’s easy to see why it’s an attractive destination to live or invest in.

Finally and rather importantly Florida is a “no state income tax” state — only one of seven in the U.S. Need we say more!

Remote working
One of the big changes, thanks to the global pandemic, is the way we work. Remote working has become the new norm for many professionals, and is very much here to stay. A report published in Forbes shows that today a quarter of all professionals now work remotely. With this comes greater flexibility around lifestyle choices, such as where to live and base yourself from. With its stunning climate, great international connections and affordable real estate, Miami has become somewhat of a magnet to investors and Miami property management companies.

Low mortgage rates
Over the past two years, real estate in Miami has continued to break records, in no small part due to low mortgage rates. At the start of the pandemic mortgage rates were the lowest they had been in ten years. This favorable financing has continued to pull in buyers, and attract Miami property managers to the area.

Tech industry
A top trend that Miami property managers are seeing right now, is an influx of talent relocating to the city for work. Hand-in-hand with this, the city is enjoying an influx of investment from the tech industry, with brands such as Blockchain bringing their presence to the city. There’s even a suggestion that Miami could be the new ‘Silicon Valley’ which is no surprise with the first Bitcoin convention taking place this year in the city.

Lifestyle destination
But perhaps most compelling of all, given the past two years, the emphasis on living somewhere you love has never been more important.

Florida’s healthy lifestyle, glorious weather and five-star restaurants and bars make it a highly attractive place to live. That’s not all, the area has seen an impressive uptick in its facilities for families, be it shopping malls, schools and activities in the area, helping to expand its appeal beyond the youth and senior market. This has accounted for 2.7 million new residents to the city since 2010 alone.

Final thoughts
Miami has proven its credentials as a city to play and stay in. Attracting heavy hitters in the business world, and the subsequent talent it has brought to the city, has seen a surge in real estate demand, especially in the rental market. If there was ever the right time to invest in a buy-to-rent, the time is surely now.

Villazzo Realtor is one of the leading experts in local Miami property management. Get in touch today to find out how we can bring our knowledge to your property.

The rental market may be having its time in the limelight, but with great opportunity comes great competition.

There was once a time where location and architecture defined what it was to be a luxury villa. Not anymore. As consumers become more tech-savvy and sustainability creeps up the agenda, luxury villa rentals need to step up their offering. Taking insight from our Miami property management team, here’s six must-have features to make sure your property stands out for all the right reasons.

Privacy and Security
A private and secure home is one of the top requests that Miami property managers receive. In terms of location, a luxury villa that has waterside access, uninterrupted views and no onlooking neighbors will have a great advantage – this especially includes properties positioned on islands or in highly desirable locations. That’s not all, homes should be will equipped with state-of-the-art security systems, better still if they can be activated through face recognition or an App remotely. Gated entry and private parking are also highly sought after features.

Remote Working facilities
With so many of us working remotely these days, especially when away on business, it’s important that luxury villa rentals reflect this trend. Miami property management companies have been inundated with requests for fully-equipped properties with home offices and excellent connectivity. This extends to boardrooms, and large screens for Zoom meetings, as well as properties with large space for entertaining clients and guests in style.

Keep in mind that today many people travel with their families in tow, even for work. As such, versatile properties that have multi-functional facilities will appeal to growing families.

Wellbeing
Travellers are increasingly looking to combine business with pleasure. This means that properties must be equipped with all the necessary equipment for more than a fleeting visit. Health and wellbeing is a high priority, so personal gyms and swimming pools are a pre-requisite. To take it up another notch, indoor steam rooms, luxurious saunas and yoga and meditation hangouts are growing in popularity.

As mentioned, keeping properties family friendly is a smart move. Grounds with
basketball courts, tennis courts and direct access are in high demand.

Sustainability
Conscious consumerism has arrived, and with it so has the need for eco-friendly properties. From solar energy to geothermal heat, properties today need to have considerate features to appease discerning clients.

One of the growing trends is towards electric vehicles, so ensuring your property is equipped with charging points will stand you in good stead.

Deluxe touches
Villazzo properties combine the best in privacy with five-star hotel like facilities. This is what makes us one of the leading Miami property management companies. We know what it takes to dazzle guests, and it goes beyond beautiful décor and sunset views.
Guests are looking for the ‘wow factor’ that gives them bragging rights. For instance, a James Bond style wine cellar, an infinity pool complete with cascading waterfall, a private dock for your superyacht, a rooftop terrace with surround-sound system, a deluxe private spa and your own bar complete with summer kitchen. These are just some of the most talked about features customers love.

Entertaining rooms
A lounge – no matter how divine, is no longer enough. A games room, a personal cinema/theater, library and outdoor summer kitchen are just some of the demands of the rich and fabulous these days. Entertainment has come full-circle, and thanks to the pandemic, more and more guests are looking for ways to host events or celebrations within the confines of their private grounds. Be it the Super Bowl, a birthday or 4th July celebrations, a well-thought out luxury home should have a side room for hosting and impressing guests.

If you’re looking to rent your home, Villazzo is one of the leading Miami property management companies. Get in touch today to find out more.