Frequently Asked Questions — Fiction vs Facts Portal
Everything you need to know — directly from the proposed amendment
North Tower proof, property value evidence, and real implications
All 7 points explained with official legal references
BORS has attempted to pass a leasing-related amendment only once before, approximately 4–5 years ago. That effort occurred under a different management company, not under Miami Management. This is not a repeat of a failed attempt — it is a new, more comprehensive, and better-documented effort.
If the amendment is approved, owners who are grandfathered and who voted against the amendment may continue leasing their units on a 30-day basis, as permitted under City of Miami law. However, all other administrative and regulatory requirements will still apply, including:
The only exception for grandfathered owners who vote against the amendment is the 90-day minimum lease term. All other requirements remain fully enforceable.
No. These leasing provisions are not retroactive and will not impact any existing leases. The minimum lease term and related requirements will take effect only after the amendment has been fully approved and formally recorded. Once recorded, the provisions will apply prospectively only. All leases in effect at the time of recording are expressly grandfathered, ensuring a smooth and fair transition for current owners and residents.
Voting instructions are available on the home page in the "How to vote step by step" section. If you need personal assistance, contact us directly — we're happy to walk you through the process. Reach us at info@borsamendment.com.
Short-term rentals introduce a fundamentally different use of residential property. Governments, courts, insurers, and condominium associations around the world have increasingly restricted or prohibited them to protect:
These restrictions are widely viewed as a means of preserving a residential environment rather than allowing transient or hotel-like use within condominium buildings.
Short-term rental properties often operate outside the safety standards required of hotels, despite functioning in a similar manner. National safety organizations have documented fatal incidents and serious injuries occurring in illegal or poorly regulated short-term rentals, including fires in buildings with blocked exits or non-compliant safety systems.
Residential buildings are designed for known, long-term occupants — not a revolving population of transient guests. Frequent turnover undermines access control, emergency response, and building security. NFPA reference →
Platform screening is minimal compared to the standardized process this amendment introduces. An NBER study reports localized reductions in burglaries near buildings that prohibit STR listings after regulation is implemented. NBER study →
The Miami Code Board has already fined multiple Brickell on the River units for unlawful short-term rentals. Miami Code Board enforcement →
Most residential insurance policies do not cover commercial or transient use. Short-term rental activity can create significant insurance gaps, leaving associations and owners exposed if a guest is injured or causes damage. Industry guidance warns that improper short-term rental use may void coverage or lead to denied claims, increased premiums, or uncovered lawsuits.
In residential buildings, this risk is shared by all owners — not just those operating the rentals. Legal exposure reference →
STRs generate substantially higher foot traffic and heavier use of elevators, hallways, lobbies, pools, parking areas, and other common elements. Research and property management reports consistently identify accelerated wear and tear and increased maintenance costs in buildings with short-term rental activity.
At BORS, last year the 1st-floor tiles, rugs, and bathroom all had to be replaced due to damage caused by this kind of traffic. Research reference →
No — and the evidence supports this clearly. Unit values in the North Tower, which adopted an identical amendment in 2022, were not reduced. There is no documented case of a similar amendment causing a decline in price per square meter.
Research shows that restricting STRs can actually protect and in some markets improve home values by preserving residential character, reducing nuisance and safety risks, and supporting financing eligibility for future buyers. A study of the 2015 Santa Monica ordinance found an ~8% increase in housing prices after STR restrictions were implemented. CGO Research →
Brickell price softening is happening in a broader market context — not because of STR restrictions. The data show inventory rising and days on market increasing, which naturally pressures pricing. Florida condos have faced major headwinds from:
Zillow shows Miami-Dade home values down 3.5% over the past year. Zillow data → Realtor.com explicitly ties Florida condo price declines to rising insurance, elevated HOA fees, and Surfside-related changes — not STR prohibitions. Realtor.com →
STRs introduce hotel-like activity into residential environments. Cities and courts have repeatedly cited noise, disturbances, trash issues, and constant guest turnover as key reasons for regulation. Long-term residents experience diminished privacy, reduced community cohesion, and loss of trust when neighbors are replaced by transient visitors.
Major cities — New York, Barcelona, San Francisco, Amsterdam — have enacted aggressive regulations or bans after finding that STRs remove long-term housing from the market and erode neighborhood character. Bloomberg →
Yes. The North Tower adopted this exact amendment in 2021–2022. Since then, it has experienced noticeable improvement in quality of life and building condition, with no documented negative impact on property values. Brickell on the River North has implemented the same approach with stable property values and meaningful improvements in building upkeep.
You may also contact the North Tower Management Office directly: 305-358-5380 or mgonzalez@miamimanagement.com — ask for Maritza Gonzalez.
To speak directly with North Tower owners, realtors, or investors, contact us at info@borsamendment.com and we will arrange a call or in-person meeting.
Anonymous communications have been circulated containing unverified claims. We encourage you to check every claim against the Fiction vs Facts page and the public record. Each false claim in those emails is addressed and documented above.
If you have a specific claim you'd like us to address, reach out directly at info@borsamendment.com and we will respond with documented evidence.