Orlando Real Estate 101: Vacation Rentals
Many homeowners who own a second property or don’t spend much time at their main residence may be interested in listing the home as a vacation rental. As many say, it is a fairly easy way to make extra money that doesn’t involve much work. Before you get ready to list that home on vacation rental sites, there are a few aspects about this process that should be discussed with Orlando Real Estate Lawyers, Nishad Khan PL. It is important to note that there are certain laws and regulations that must be followed in order to be able to legally operate in the business of vacation rentals. Nishad Khan PL specializes in helping property owners ensure they have taken all the necessary steps to be able to begin advertising their home as a vacation rental.
Key Steps to Prepare for Vacation Rentals
Though it seems that a person can just take a few pictures and list the details of their home on a rental site, there are pertinent steps, which need to be taken for proper registration and licensing. Some of the main areas concerning vacation rentals that Orlando Real Estate Lawyers give legal advice on are:
The property listed as a rental must be up to code with no structural issues and should be regularly maintained. It should also pose no threat to potential renters’ health, safety and welfare.
If you wish to list your home as a vacation rental, there are certain licenses that are required to do so. An attorney can advise the type of license you may need based on your property type and what you are seeking to accomplish.
Taxes and Fees
There are rules on taxes and fees related to vacation rentals and the responsibility associated with same can be on either the owner or the renter. Orlando Real Estate Lawyers can help you determine who bares the responsibility for which taxes and fees based on your specific property and what you are seeking to accomplish.
There made be ordinances in place with your municipality, which govern or even prohibit short term rentals. Further, if the property is located within an association, short terms rentals may be heavily regulated or outright banned within the community. An attorney can conduct the research necessary to advise you on whether there are any limitations concerning short term rentals in your area.
Before you visit a home rental advertising site to list your vacation rental, contact Nishad Khan, Esq. of Nishad Khan PL to get the legal advice you need for this process.