This week in Miami real estate: Granny flats, graduates and more

by Ashley Bowden

Miami Beach mulls new rules on rentals

Coach houses, accessory dwelling units, or “granny flats” — whatever you want to call them, laws in Miami Beach have made it difficult for homeowners who have them to earn income by renting them out. The city isn’t alone among other urban areas around the U.S. with similar restrictions on the books, although that is quickly changing. The Miami Herald reported June 5 that Miami Beach city commissioners are mulling a change to local ordinances that would allow homeowners with spare bedrooms in a detached accessory dwelling unit (ADU) to rent those units out for more than six months at a time. Proponents say loosening restrictions on ADU rentals would open up more affordable housing options, not to mention supplement the income of homeowners in the midst of rising taxes and other expenses. The idea is also being tested in other cities including Boston, Seattle, Portland, Austin and Minneapolis. According to data from the Miami-Dade County appraiser’s office, there are around 320 single-family parcels in Miami Beach that include an ADU.

Florida Realtors awards students scholarships

The Florida Realtors Education Foundation, a nonprofit founded by the Florida Association of Realtors, awarded 137 high school seniors with $202,400 in scholarships at the end of the school year, many of whom plan to enter the real estate industry. The recipients are all Florida residents who plan to attend post-secondary institutions during the 2019-2020 school year. Over the past decade, the Education Foundation has awarded nearly $1.6 million in real estate-related scholarships to invest in the future of the industry.

Grand opening of Yard 8 in Midtown Miami

Wood Partners announced the opening of their new luxury high-rise community called Yard 8 in Midtown Miami, Florida. The lively neighborhood boasts a thriving art scene and abundant shops and restaurants. Yard 8 offers one, two and three-bedroom apartments that are currently available for lease. The 387 units feature industrial designs like floor-to-ceiling windows and custom Italian cabinetry. A resort-style pool with tropical landscaping and a view of downtown Miami round out some of Yard 8’s luxury amenities.

New associates at EWM Realty International’s Las Olas branch

EWM Realty International added four new associates to its Las Olas branch according to a June 6 press announcement. Mary Buxton previously worked for Coldwell Banker as a sales associate. Syed Nadin Hasan worked for FLYSWIPE in Boca Raton as the head of investor relations. Isabelle Peterson from France has lived in Florida for 12 years and previously worked for RE/MAX. Carlos Redesma-Dorand has worked in real-estate for 12 years, most recently as a realtor for Berkshire Hathaway.

 

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