Some of these rules are pending or still in discussion at the time of this post.
Beginning Nov. 15 2021, Frisco property owners looking to rent out space for less than 30 days at a time will have to apply for a city permit online, pay a $300 annual fee plus city hotel taxes, provide floor plans, set a maximum number of guests and meet other requirements. No formal deadline has been set for existing properties to register.
The Town of Dillon implemented an ordinance specifically regulating Short-Term Rentals (STRs). Town Council discussed this subject at several work sessions from September through December 2018, sent out a mailing on the proposed ordinance and held a public input meeting on October 4, 2018. The ordinance implementing the new STRs licensing application, fee and regulations within the Town limits was approved by Council on December 4, 2018 and became effective January 1, 2019.
- If you are renting your residence or part of your residence for a period of less than 30 consecutive days, you are operating a short-term rental.
- All owners renting their property for a period of less than 30 days must apply for a short-term license and pay a fee of $50 by June 1 of each year.
- All short-term rental licenses expire on May 31 of each year. The calendar year fee is $50 regardless of when the license is obtained. No refund shall be made to any person who discontinues business during the taxable year and no payment shall be transferable.
- The person or company remitting the sales and lodging taxes must also obtain a business license and pay an occupational tax of $60 by January 1 of each year.
1. When did Town Council discuss a short–term rental cap?
On August 24, 2021, Breckenridge Town Council discussed setting a cap for non–exempt units at
2,200. The Finance Department will continue to accept applications until the ordinance goes
into effect, including applications that are over the cap.
A valid short-term rental license is required for each short-term rental property in the Town of Silverthorne. A short-term rental property is defined as “a residential dwelling unit, or any room therein, available for lease for a term of less than thirty (30) consecutive days.” The license is required regardless of how the properties are marketed (through a management company, on-line through websites such as VRBO and Airbnb, newspaper ads, word of mouth, etc.).
Take a look at 5 of the most valuable reasons as to why booking direct can save you HUNDREDS of dollars!
- When it comes to the larger Online Travel Agency’s (OTA’s), such as VRBO, Airbnb, Homeaway, etc. they are not only charging the guests a big % for using their website on top of the rental rate, BUT they are also charging the and managers a HUGE % of their rental business, on top of their listing fee. On the cost-effective side of things, with Luxe Living Vacation Rentals being a “book direct” listing website, that means that the guests are NOT charged an additional service fee for booking through our site.
- When booking directly on Luxe Living Vacation Rentals, this means that the guests will ALWAYS be in direct contact with the manager of that property. They will not be sent through a third party at any point. From contacting the manager about the inquiry, all the way to any questions while the guest is staying in the property during their vacation will be dealt with directly with that manager!
- When looking at a larger OTA site for your vacation rental, you aren’t even going to be given some of the best available properties. WHY?! This is due to the major managers being fed up with the way that the OTA’s are trying to take over their rental business and overcharge their guests! They have abandoned all of those sites and have started putting their time and effort into the “book direct” sites such as Luxe Living Vacation Rentals to ensure they are fully in charge of their rental business and to make sure that their guests are receiving the best possible rates!
- When booking directly with the manager, not only are you in constant contact with them throughout the whole process, but you are now speaking directly with the person who knows the area of the vacation rental best! Any answer that you might need in regards on what to do, where to go and any vacation advice in that area is right at your fingertips!
- Booking and speaking directly with the manager of the property will also ensure that you are being financially protected. Finding and booking the perfect vacation can already be a somewhat stressful process, booking direct can ease a lot of that tension when you know EXACTLY who you are booking with and who you are paying. Booking direct saves you money, time and gives you a huge sense of security knowing that you are in the best hands possible during the vacation booking process.
Thanksgiving is my favorite holiday to spend on the Emerald Coast. The food options are endless and incredible! You can order a family style meal to take back to your rental from many grocery stores and restaurants. Many restaurants offer a full dining service with a special Thanksgiving menu, but it is hard to ignore the tremendous buffets available. In true coastal style, many of the buffets offer a seafood options in addition to Turkey, Ham and Beef stations. In addition to the traditional Thanksgiving side dishes, many accompanying dishes showcase ingredients freshly harvested from the Gulf. Build your own take out box is another option being offered by some of the buffets.
The lighter crowds and milder temperatures create the perfect conditions for shopping over Thanksgiving holiday. The stores and shops are already beautifully decorated and ready to serve the holiday out of town guests. Many offer locally crafted and/or sourced products that create truly unique gifts that friends and family will cherish forever.
The Gulf is always amazingly beautiful, and the climate is mild during the holiday season. You might need a light jacket or hoodie in the evenings, but it is far from unpleasantly cold. Some areas along the Emerald Coast allow beach fireplace services at night. For a fee, the service will provide everything needed (including the necessary permit) to have a private campfire on the beach.
If you are lucky enough to spend the holidays on the Emerald Coast, you are lucky enough!
Why Buy a Vacation Home?
The reasons to own a second home go beyond money. When you buy a vacation home, you give yourself the freedom to travel as you please in retirement—a well-deserved pleasure after years of working. You have a lovely place to host your family during the holidays, a new community to enjoy, and the potential to earn income from your property.
While a vacation home isn’t right for everyone, it’s a good choice if you enjoy travel and do it often enough to warrant buying instead of renting. You should be able to comfortably afford the mortgage payments and upkeep without dipping into your retirement savings. Personal Capital recommends thinking about things like how much time you’ll spend there and how much debt you have before buying a vacation property.
How Do I Find the Right Vacation Home?
Once you’ve decided to take the plunge, it’s time to start looking for the perfect vacation home. You’ll be spending anywhere from several weeks to several months in your second home every year, so it’s important that it suits you.
First, decide if you want a single-family home, a townhome, or a condominium. Ideally, you’ll be spending more time outside enjoying the destination than in your house, so you can get by with a smaller footprint than your primary home. However, you may want extra space for hosting family and friends.
If you plan to rent out your vacation home or to sell it someday, it’s important to buy in a market that’s popular with other vacationers. This consideration is part of the reason why Florida is such a sought-after destination for second-home buyers. Not only is it sunny and beautiful, but thanks to its popularity as a vacation destination, buyers can rest assured that their investment will appreciate with time.
How Can I Make My Vacation Home an Investment Opportunity?
Renting to other vacationers is a great way to turn your second home into an investment opportunity, but it’s not as simple as sticking a “For Rent” sign in the yard.
If you plan to rent your vacation home for more than two weeks of the year, you’ll have to report the income to the IRS and pay taxes, which reduces the profit you see. You’ll need to budget for additional insurance and cleaning crews between renters. And since you’ll be living elsewhere, budget for a property management agency to tend the rental. However, even with these considerations, renting out your vacation home can be a sound financial choice in many ways.
For one thing, you could purchase your getaway property with an LLC, which provides tax advantages and protects your personal assets. Online services make it easy and inexpensive to form an LLC, walking you through just five steps, so there is no red tape to wade through or an attorney to hire.
You may also choose to sell your vacation home after several years. Unless you’ve used the home as a primary residence for at least two years, you’ll have to pay capital gains taxes on the profit.
A vacation home may be a luxury, but after working your whole life, it’s a luxury you’ve earned. To keep your investment as cost-effective as possible, shop for a vacation home in a destination with a lot to offer—both to you and to potential renters. By making smart choices when buying, your vacation home can become a path to a more financially secure retirement.