There are some circumstances where a written agreement is made between the owner and tenant of a penthouse. In Miami, it is required for the owner of any unit, even a penthouse unit, to pay the association fee. Do Tenants Pay the Monthly Association Fee of a Penthouse? Because each association can choose how to structure its fees, it's important to ask about this structure to understand why the penthouse fees will be more than the other units. ![]() ![]() The association fee for the penthouse will still be higher in this case. Some associations choose to set a fixed price for the monthly association fee and ignore the difference in square feet between different units. Because of this, a penthouse will always have the highest association fees of any unit in a building. The association fee is also based on other factors, but the key point that guarantees a higher fee for a penthouse unit is that a penthouse will always have more square footage and more private facilities than any other building unit. Because monthly association fees are generally based on the square footage of a condo, the spaciousness of a penthouse does mean that the association fees are higher. Are Association Fees Higher for Penthouse Units? ![]() PropertiesMiami has extensive experience in this area with highly skilled agents able to navigate this challenging penthouse market. Choosing to deal with real estate agents who are not familiar with the luxury real estate market will lead to very few penthouse options in a market that has tight competition. This extremely tight market means that luxury real estate agents often make private sales that keep the name of the owner and property address confidential. Private sales are also very common, with about 90% of all Miami penthouses being sold privately and not ever going public. Great locations near all the entertainment hotspots, fantastic private amenities, and high-end buildings attract the attention of many celebrities and wealthy individuals who don't typically need to sell their real estate, so they keep these property gems as lifestyle investments for very long periods of time. Known around the world for their gorgeous views and ultimate luxury, penthouses in Miami Beach, South Beach, and the greater Miami area get snapped up very quickly by those eager to enjoy exclusive oceanview living. The iconic lifestyle and views that Miami penthouses provide means they are in very high demand. Why Aren't There More Miami Penthouses for Sale? The opulent lifestyle possible with private beach access, high ceilings, spacious living areas, and extra bedrooms and ensuite bathrooms makes penthouse living a dream. The exclusivity, luxury, and privacy of a penthouse are highly desirable. Often a penthouse will have direct, private access to the elevator as it will open directly into the penthouse. Fantastic private lifestyle boosters like spacious balconies, infinity pools, and the most breathtaking views are all part of penthouse living. In comparison, the other units in the building will only have access to shared amenities. It has private facilities and amenities that are only available to that unit. Miami Penthouse Faqs What Is a Penthouse?Ī penthouse is the most luxurious unit at the top of a condo or apartment building.
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