When discussing Miami holiday rentals by owners and other Miami accommodations, many people use the words condominium and apartment interchangeably; however, these two words describe completely different types of Miami accommodations.
In a condominium building or complex, each unit is owned by a different individual. To purchase space in the condominium, owners must be approved by the condo association. The association also develops a list of rules that all owners and their guests must follow. Regulations in condominiums are very detailed and often strict. Many place restrictions on short-term Miami holiday rentals by owners or do not permit them at all.