Buying a Turnkey Luxury Condo in Miami (2026): What You Really Get

One of the most common requests I hear from buyers, especially those relocating from New York, California, or Latin America, is: find me something turnkey. They want to wire the funds, fly into Miami International, take the elevator up to their new unit, and start living. I completely understand the appeal. Miami's luxury condo inventory in buildings like Brickell City Centre, Aria on the Bay in Edgewater, Porsche Design Tower in Sunny Isles, or The Bristol in Palm Beach adjacent South Florida markets offers some of the most beautifully staged, fully furnished inventory in the country. But in my experience working with buyers across all of those buildings and neighborhoods, the word 'turnkey' means something different to almost every seller.

The gap between what a buyer imagines and what a listing actually delivers can cost thousands of dollars and a lot of frustration. I have walked buyers into units advertised as fully furnished where the furniture was excluded in a rider, the smart home system required a $4,000 annual service contract, and the wine cooler was a loaner from the seller's interior designer. None of that was disclosed upfront. That is the kind of detail I help my clients catch before they are under contract, not after.

This guide is for buyers who are seriously considering a turnkey luxury condo purchase in Miami in 2026. I will cover what turnkey actually means in a legal and practical sense, which Miami neighborhoods and buildings tend to offer the most credible turnkey inventory, how to evaluate the true cost of ownership, and how to negotiate so that what you see in the photos is exactly what you get on closing day.

What 'Turnkey' Actually Means in a Miami Listing

In Miami real estate, 'turnkey' is a marketing term, not a legal one. There is no Florida statute or MLS rule that defines what must be included for a listing to call itself turnkey. That creates real ambiguity. I always tell my buyers: assume nothing is included until it is written into the contract.

In practice, a turnkey listing can mean anywhere from 'all furniture stays' to 'the unit has been fully renovated and outfitted by an interior designer, including art, linens, kitchen equipment, and electronics.' The difference in value between those two extremes can easily be $200,000 or more in a high-floor unit at a building like Jade Signature in Sunny Isles or Marquis Residences in downtown Miami.

Florida law does draw a clear line between fixtures and personal property. Fixtures, meaning items permanently attached to the unit such as built-in shelving, integrated appliances, and lighting, typically convey with the sale by default. Furniture, artwork, rugs, and freestanding appliances are personal property and require a separate agreement or bill of sale to transfer legally. When I represent a buyer on a furnished listing, I insist that we attach a detailed inventory list to the contract before the inspection period closes. That list should include the brand, model, approximate value, and condition of every significant item the buyer expects to receive.

The Miami Neighborhoods Where Turnkey Inventory Is Most Common

Turnkey luxury condos are concentrated in a handful of Miami submarkets, largely because those areas attract both short-term rental investors and seasonal residents who furnish units professionally and then sell them as complete packages.

Sunny Isles Beach is probably the market where I encounter the most credible turnkey inventory. Buildings like Regalia, Armani Casa, and Turnberry Ocean Club attract buyers from Venezuela, Colombia, Brazil, and Argentina who purchase pre-construction, hire a designer during the construction period, and then sell fully furnished when their plans change. These units often come with everything from Sub-Zero and Wolf appliance suites to custom millwork and automation systems by Crestron or Control4.

Brickell is the other major hub. In buildings like SLS Lux, 1010 Brickell, and Echo Brickell, investor-owners who ran units through hotel-style rental programs frequently sell with all furnishings intact because stripping a unit for personal use is more trouble than it is worth. Prices in Brickell for a well-furnished two-bedroom turnkey unit typically run from $950,000 to $1.8 million depending on floor, view, and building quality.

Edgewater has emerged as a strong middle market for turnkey condos. Buildings like Missoni Baia, Elysee, and Aria on the Bay offer units that have been furnished to a high standard at price points generally below Brickell and well below Sunny Isles. A two-bedroom fully furnished unit in Edgewater might range from $700,000 to $1.2 million, which makes it attractive to buyers who want the turnkey experience without the flagship-building price tag.

I also see meaningful turnkey inventory in Coconut Grove and Coral Gables, particularly in boutique mid-rise buildings and townhome-style condos. These tend to appeal to buyers who want a residential neighborhood feel alongside the convenience of condo ownership. Turnkey options in the Grove and Gables are less common than in Brickell or Sunny Isles, but they come up regularly and often represent very strong value.

The Real Cost of Owning a Turnkey Luxury Condo

Purchase price is only one number. In my experience, buyers who focus exclusively on price per square foot often underestimate their total cost of ownership by 20 to 30 percent in the first year. Here is a realistic breakdown of what to budget beyond the purchase price.

HOA fees in Miami's luxury condo market are substantial. In ultra-luxury buildings, monthly fees routinely run $2,500 to $6,000 or more per unit. Jade Signature, for example, carries fees in the $3,500 to $5,500 range depending on unit size. Porsche Design Tower units can exceed $6,000 per month. These fees cover amenities, building staff, insurance on the structure, and reserves, but they do not cover your individual unit's insurance or utilities.

Property taxes in Miami-Dade County run approximately 1.8 to 2.2 percent of assessed value per year for non-homesteaded properties. A turnkey unit purchased at $2 million should be budgeted at roughly $36,000 to $44,000 per year in property taxes if you are not establishing Florida homestead. Foreign buyers and those maintaining primary residence elsewhere will not qualify for the homestead exemption, so this number matters.

Condo insurance for the contents of a furnished unit can run $4,000 to $10,000 per year depending on replacement value of the furnishings. If a designer has outfitted the unit with $300,000 in furniture and art, that needs to be properly scheduled on your HO-6 policy.

Smart home and technology systems in high-end turnkey units often carry ongoing service contracts. Crestron and Savant systems typically require annual maintenance agreements that run $2,000 to $5,000 per year. Ask the seller for documentation on any existing service contracts and whether they are transferable.

How to Evaluate a Turnkey Listing Before Making an Offer

Before I advise a buyer to make an offer on a turnkey unit, I go through a specific evaluation process that covers the physical condition of the unit, the quality and condition of the furnishings, the building's financial health, and the rental history if applicable.

The condition of the furnishings matters more than most buyers realize. A unit that has been used as a short-term rental for three years may have beautiful staging photos but heavily worn furniture, stained rugs, and appliances that need replacement. I always recommend a walkthrough specifically focused on the furnishings, separate from the standard home inspection. If the seller is asking a premium for the turnkey nature of the unit, the furnishings should be in near-new condition.

Here are the specific items I tell my buyers to evaluate on every turnkey walkthrough:

The building's financials are equally important. I request the most recent budget, reserve fund study, and meeting minutes for every condo purchase I facilitate. A turnkey unit in a building with underfunded reserves is a liability, regardless of how beautiful the interior is. Special assessments in Miami have become more common since the Surfside collapse, and buyers need to know what financial exposure they may be inheriting.

Here are the specific items I tell my buyers to evaluate on every turnkey walkthrough:

• Appliances: check manufacture dates, run all cycles, and look for signs of leaks under sinks and around dishwashers
• HVAC system: ask for service records and note the age of the air handler and condenser, replacement costs in Miami run $8,000 to $15,000
• Furniture condition: look under cushions, check drawer tracks and hinges, inspect upholstery seams for wear
• Electronics: test every TV, sound system, motorized shade, and smart home panel while you are in the unit
• Art and accessories: confirm which pieces are included versus on loan or owned by a staging company
• Mattresses and linens: most buyers replace these regardless, but confirm whether bedding is included or excluded
• Window treatments: motorized shades and custom drapes can cost $20,000 to $50,000 to replicate, confirm they convey
• Outdoor furniture: balcony and terrace furniture is often excluded from listing photos that make it look included

Negotiating the Turnkey Premium: What Is Actually Worth Paying For

Sellers of turnkey units often price in a premium of $100,000 to $400,000 above what comparable unfurnished units have sold for in the same building. Whether that premium is justified depends entirely on what is actually being included and what the replacement cost of those items would be if the buyer had to source them independently.

I use a simple framework with my buyers. We build a replacement cost estimate for every significant furnished item in the unit. Custom millwork, integrated audio-visual systems, luxury appliances, designer furniture, art, and motorized window treatments all have real market values. If the seller's turnkey premium is $200,000 and the replacement cost of the included items is $180,000 or more, that is a reasonable deal. If the replacement cost is $80,000 and the seller wants a $200,000 premium, we negotiate.

One of the most effective negotiating tools I use is a detailed exclusion and inclusion rider that we draft during the inspection period. If the seller refuses to include specific items that were shown in the listing photos or explicitly marketed as part of the turnkey offering, we have grounds to request a price reduction or a seller credit at closing. In one recent transaction in a Brickell high-rise, we negotiated a $35,000 credit because the seller excluded a Crestron system and four custom light fixtures that had been specifically highlighted in the marketing materials.

Do not overlook the tax implications of a furnished sale. In Florida, tangible personal property transferred in a real estate sale may have sales tax implications depending on how the transaction is structured. I always recommend that my buyers consult with a Florida real estate attorney and a CPA before closing on a furnished transaction above $500,000.

Turnkey Condos as Investment Properties: The Short-Term Rental Angle

A significant portion of the buyers I work with on turnkey condos are investors who plan to rent the unit through Airbnb, VRBO, or a luxury property management company. A fully furnished unit is, obviously, a prerequisite for short-term rental operation, which is part of why turnkey listings are priced at a premium.

Before purchasing any condo with short-term rental intent, the first thing I verify is the building's rental restrictions. In Miami, building rules on short-term rentals vary dramatically. Some buildings, particularly in Miami Beach and Sunny Isles, allow 30-day minimum rentals but prohibit anything shorter. Others have hotel-style rental programs built into the structure, such as The EAST in Brickell or SLS Lux, where units can be placed in a managed rental pool with daily minimums. And some luxury residential buildings prohibit all rentals for the first year or two of ownership.

Miami Beach specifically has its own municipal short-term rental regulations that layer on top of building rules. In many Miami Beach zones, short-term rentals of less than six months require a city-issued license, and enforcement has increased significantly since 2023. I help my investor clients navigate both the building-level and municipal-level restrictions before they make an offer, not after.

When a turnkey condo is operated as a short-term rental, the gross rental income in Miami's luxury market can be substantial. Well-positioned two-bedroom units in Sunny Isles or Miami Beach can generate $80,000 to $180,000 in gross annual rental income. Net returns after HOA fees, management fees of 20 to 30 percent, property taxes, and insurance typically land between 3 and 5 percent of purchase price, which is a reasonable return for a hard asset in one of the most resilient real estate markets in the country.

Working With a Miami Luxury Condo Specialist: Why Representation Matters

I have seen buyers attempt to navigate turnkey luxury condo purchases without local representation, particularly international buyers who find the listing online and contact the listing agent directly. In every case I am aware of where that happened, the buyer left significant value on the table or inherited problems that a buyer's agent would have caught.

The listing agent in a luxury condo transaction represents the seller's interests. Their job is to get the highest price with the fewest contingencies. My job, when I represent a buyer, is the exact opposite. I am looking for reasons to negotiate a lower price, more favorable terms, and complete, enforceable agreements about exactly what is and is not included in the sale.

I work with buyers relocating from New York, California, Colombia, Venezuela, Argentina, Brazil, Mexico, and across Europe. Hablamos Espanol, and I understand both the legal and cultural nuances that matter to Latin American buyers navigating the U.S. real estate process. If you are considering a turnkey condo purchase in Miami, I would welcome the conversation. Call me at (954) 833-0020 and I will walk you through the current inventory that fits your budget and lifestyle.

Turnkey Red Flags: When to Walk Away

Not every turnkey listing is a good deal, and some are actively problematic. Here are the situations where I advise buyers to proceed with extreme caution or simply walk away.

First, if the seller is unable or unwilling to produce a complete inventory list before the inspection period closes, that is a serious red flag. A legitimate turnkey seller has nothing to hide. If they resist documenting exactly what is included, assume the most valuable items will disappear before closing.

Second, watch for units where the furnishings look high-end in photos but the building itself has deferred maintenance issues, a pending special assessment, or insufficient reserves. In Miami, a beautiful turnkey interior inside a financially distressed building is a money trap. I have seen buyers purchase gorgeous furnished units only to receive a $40,000 to $80,000 special assessment notice within 12 months of closing.

Third, be cautious of turnkey listings in buildings with active litigation, particularly construction defect suits or disputes between the condo association and the developer. These can affect your ability to resell the unit and may impact your financing options if you are not paying cash.

Fourth, if the unit has been used as a high-volume short-term rental for several years, the furnishings are likely significantly more worn than the photos suggest. Always request a recent in-person walkthrough and never make an offer on a turnkey unit based solely on listing photography.

If any of these flags appear during due diligence, I work with my buyers to either renegotiate the terms significantly or redirect toward a better opportunity. Miami has enough inventory that there is never a reason to force a transaction that does not make sense. Call me at (954) 833-0020 to discuss what you are seeing in the market and how to find a turnkey opportunity that genuinely delivers on its promise.