Lets talk some local politics and “political” courage….or lack there of.
Hot topic this week has been the City of Miami cracking down on AirBnB and other home sharing sites and there was even a vote on the Mayor’s proposal (symbolic) which passed but as someone who gets our local politics….it was interesting to see which commissioners voted For and Against.
BTW; One vote did surprised me and how that person voted said a lot about their future plans and who is moving him…
OK with that out of the way, AirBnb is bad for local real estate and current zoning laws should be enforced….You may not agree with me but let me share a few things that “host” in Miami may be overlooking.
Home Owners have several responsibilities to the folks that help acquire their homestead and these folks DO NOT give a crap about pretty websites promising riches.
It starts with your Lender, who bases the loan rates on an “owner occupied” property and not as an investment vehicle…. in short try to get an “investment loan” for 30 yrs or at the current 4.0% home mortgage rate.
More so, let your lender find out about your little “investment” and watch how they will “call your loan”, this will make you very unhappy with AirBnB.
Next are the lovely folks who insure your “Home”, wait till you get to your renewal and you fail to mention the fact that you are leasing out the place…they will drop you like a hot potato and inform your lender (see above)
Now bring in 2 folks who you definitely do not want to F@#$% with….Feds & State. You best report your earnings to the IRS BUT you better pay a sales tax to the State of Florida….yeah you owe them 7%
And once you do guess who gets notified?
Yup, Miami-Dade County who is granting you “Homestead” exemption and once they figure out what your up to they will send you a little note that can ask annoying “Historical” questions about when you started your little money making venture.
And just for Shits and Giggles they will activate a notice to the City about “occupational licenses” and that may invite a City code enforcement dude (or since we are now gender neutral) an enforcement “person” who may suggest that someone from the Fire Department visit you for a safety review…
And right about now you are really pissed and blaming everyone in government as being abusive and intrusive and all sorts of other stuff…..when you should be blaming yourself for thinking you are above the law.
Want to know what other responsibility you have?
To your neighbors who have to put up with your self centered abuse of local laws.
Welcome to America.
AirBnB probably does not want to “Gotta Jav Miami”