Who to Hire and What to Expect

Contract a maintenance person or company to oversee your property on a continuous basis.

    This is essential for property owners who live far from their rental home and can’t visit more than a couple of times a year.

When any maintenance issue occurs, you need to have someone who will respond quickly.

Before renting your home, contact an attorney familiar with the vacation rental market who can advise you on the laws in the area and potential legal issues

    Check with county and city officials about the zoning requirements for short-term rental properties.

    Check the current zoning status of the area in which your vacation home resides and be sure to learn about any proposed changes that may affect it.

    Research the status of short-term rentals in your city or county by searching past newspapers for articles about your market.

    Consider contacting other owners currently renting in your local area to learn more.

    Check with the homeowners association about rules regarding vacation rentals for your complex or subdivision.

    Typically, these rules are found in the community’s rules and regulations manual that dictates how the homeowners association operates

         and what rules the owners must obey.

    Many areas require vacation rental owners to apply for a business license or permit to rent homes on a short-term basis.

    Consult city or county officials for clarification and more information.

    In some areas, vacation rental homes have to follow the same basic safety requirements such as fire extinguishers, deadbolt locks,

         and may also be required to complete safety inspections.

    Some areas also have specific rules and regulations regarding health code, such as well-water testing, and pool and hot tub maintenance.

They will be able to advise you on bookkeeping procedures and income tax rules for vacation rental homeowners. Helping you Identify valid tax deductions and how to collect and pay associated vacation rental sales tax.

    Many states in the U.S. and provinces in Canada require you to collect and remit sales tax.

    The sales tax is paid by your guests in addition to your rental rates.

    The taxes collected are sent to the government at a fixed time periods, usually quarterly.

    Find out the requirements in your area by contacting your county sales tax office.