“Should I Airbnb it or just lease it for a year?” is the most consequential decision a Miami property owner makes, and most comparisons online are dishonest in one direction or the other. Here is the fair version.
The revenue side: short-term usually grosses more — gross being the key word
A well-run short-term rental in a strong Miami location typically grosses meaningfully more than the same unit on an annual lease — that is why the market exists. But the gap is gross, not net, and it is earned: it depends on active pricing, good reviews and real occupancy through the summer lull. A poorly run short-term rental can net less than a boring annual lease. Our revenue guide shows neighborhood-level estimates.
The cost side: what short-term adds that a lease does not
Furnishing and ongoing replacement; utilities and internet (you pay them, tenants don’t); cleaning between every stay (typically passed to guests, but coordinated); consumables and linen; platform fees; transaction taxes admin; higher wear; licensing and registrations; and either your time or a management fee. An annual lease carries almost none of this — its costs are vacancy between tenants, turnover repairs and the risk of a bad tenant being much harder to remove than a bad guest.
The effort side
An annual lease is measured in hours per year. A self-managed short-term rental is measured in hours per week — messages, pricing, turnover coordination — every week, including holidays. Management removes the effort for a fee; see the full breakdown.
The risk side — and it cuts both ways
Short-term risks: regulation (zoning, building rule changes — a board vote can end your model), seasonality, review shocks, damage (mitigated by deposits, platform protection, screening and sensors). Long-term risks: one tenant is one point of failure — non-payment or eviction in a tenant-friendly process can erase a year’s advantage; rent is fixed while the market moves; and you cannot use the property yourself. Short-term’s underrated advantage: you keep personal use of your own home — block the calendar and it’s yours.
The legality filter comes first
For much of Miami Beach and for many condo buildings, this entire comparison is moot: if stays under six months are prohibited at your address, long-term (or medium-term, 6+ month furnished) is the only legal option. Check the address before running any spreadsheet — we do it free, including the condo-document layer. See Miami short term rental laws and condo and HOA restrictions.
The middle path: medium-term
Furnished 1-6+ month stays (traveling professionals, relocations, snowbirds) gross between the two models, with far less turnover and — at 6 months and a day — legality even in restrictive Miami Beach zones. For addresses that fail the short-term legality check, this is often the right answer, not an annual lease.
How to decide for YOUR unit
- Legality check (kills or confirms the short-term option).
- Realistic short-term revenue estimate for your exact unit — not a citywide average.
- Subtract honest short-term costs including management if you won’t self-manage.
- Compare against the current annual rent for your unit minus vacancy.
- Weigh the non-money factors: personal use vs zero involvement.
We run steps 1-3 for you free, in 24 hours — and we’ll tell you honestly if long-term wins for your unit; signing up a property that shouldn’t be an Airbnb helps nobody.