US News and World Report has put out a great article highlighting the "difficult" parts of renting your home on Airbnb or VRBO. The following quote was particularly insightful.
"Rentals are treated like hotels in most geographies now, and owners need their properties to comply to local rules. The biggest one is occupancy tax, and a number of different municipalities have licensing requirements to be able to rent out on a short-term basis."
The article advises homeowners to check local ordinances regarding taxes & licensing, offers information about insurance policies, and provides insight on cleaning and maintenance. Click below to learn more!
Monday, March 2, 2015
Since our beginnings in 2003, we've made it our goal to provide you, the rental owners and managers, solutions that eliminate the tax complexities of renting your properties. Today we're taking another exciting step in achieving those goals and have joined the Avalara team!
Avalara is a cloud-based provider of global tax compliance for businesses of all sizes. Our combined forces will allow us to take our vision even further. We are proud of what we've accomplished, but we've only scratched the surface of the opportunities ahead. With Avalara's talent, resources, and expertise in tax, we’ll be able to do more faster.
Moving forward HotSpot will become Avalara MyLodgeTax. So don't be surprised when you start seeing changes.
As always, we thank you for your continued support and look forward to making tax compliance even easier for you!
To learn more about Avalara, start by reading their announcement here.