Report: S.Fla. Homeowners Use Airbnb As Unregulated Business
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MIAMI (CBSMiami) -- Some South Florida homeowners are using Airbnb as more than a way to pick up a few dollars - more like $47 million.
That's what they earned last year, according to a report published by Pennsylvania State University's School of Hospitality Management and the American Hotel & Lodging Association on Wednesday.
The report looked into listings in Miami-Dade, Broward and Palm Beach counties between October 2014 and September 2015.
They found Airbnb listings are not an occasional option for homeowners with six percent of the units up for rent more than 360 days per year - bringing in 39 percent of Airbnb's revenue in Miami.
Within that same period South Florida earned more than $122 million for the listings.
Researchers also found that four of the top five zip codes for Airbnb revenue were in Miami Beach. The fifth was in the downtown/Brickell area.
The report's release comes at a time when regulations regarding Airbnb and other short-term rentals is not on the same page but is illegal in much of the region.
Miami Beach banned short-term rental in single-family homes but not in multi-family buildings in most areas. While Fort Lauderdale just limits the number of guests. In Key West, they're cracking down on the practice by requiring short-term rental operators to have a license.
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