Lake Tahoe is a well-known travel destination for those who love nature and outdoor activities. Its status as a popular travel destination also makes it a great place for vacation rentals. However, you must obtain a short-term rental permit before listing your property for rent. Here is a guide with what you need to know about getting a Lake Tahoe short-term rental permit.
Lake Tahoe Real Estate Market Watch
The median price per square foot of homes sold in Placer County in March 2024 was $327. However, real estate data can change frequently. To buy or sell homes in the Lake Tahoe area, contact Michelle Keck.
Getting Your Lake Tahoe Short-Term Rental Permit
Understanding the Landscape
The Lake Tahoe area boasts a high percentage of second homes. A significant portion of these properties are for rent, available on platforms such as Vacasa and Airbnb. At least half the homes in Truckee are second homes. Nearly 13% are rented out on a short-term basis.
New Rules and Regulations
Local authorities have responded to the growing demand for STRs by updating regulations. In 2021, the Town of Truckee and Placer County updated their guidelines. They require property owners to adhere to specific rules to operate legally.
Placer County STR Permitting and Fees
Placer County mandates that all Lake Tahoe short-term rentals obtain a Transient Occupancy Tax (TOT) certificate. The cost of permits varies depending on management status. Professionally managed properties pay $105 plus a fire inspection fee, while privately managed properties incur higher fees. Moreover, quarterly TOT taxes are required, with rates varying by location.
Truckee STR Permitting and Fees
In Truckee, homeowners must obtain an annual transient occupancy registration certificate. They must pay a yearly fee of $400 and the quarterly Transient Occupancy Taxes. The total tax rate, including a TOT and Tourism Fee, is 13.25%.
Key Regulations for Truckee and Placer County
Both Truckee and Placer County have similar regulations governing STRs. These regulations cover aspects like noise, parking, trash disposal, fire safety, and fines for violations. Property owners must familiarize themselves with these regulations to avoid penalties.
Resources for Obtaining Permits
Numerous resources, including online guides and local government websites, are available to assist homeowners in obtaining their STR permits. Additionally, management companies can help property owners navigate permits and other STR regulations.
As much as Lake Tahoe vacation rentals can be a good investment, property owners must adhere to the regulations. That includes following permitting procedures. Many property owners may want to consider professional property management to ensure compliance.
Find Your Dream Lake Tahoe Property Today!
Ready to elevate your lifestyle with a Lake Tahoe property? Contact Michelle Keck for exceptional service and local insights. She can help you achieve your goals with Lake Tahoe real estate.
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