Summer is a great time to get away and enjoy the weather. With the rise of Airbnb and other rental websites, making money while you are away on your own trip is more accessible than ever. Local governments recently started to regulate the use of private homes as rental homes (just as hotels and motels are regulated). Before you rent out your home, check out the five facts/tips below:
- Virginia Code § 15.2-983 was enacted in 2017 and gives localities the authority to enact local ordinances/regulations for short-term rentals.
- Each locality has their own set of rules for short-term rentals (with certain states, such as New York, outwardly prohibiting short-term rentals). The applicable rule depends on where the property to be rented is located. Be sure to check your local rules (rather than checking the state code alone).
- As a matter of example, Fairfax County requires that property owners purchase permits ($200) for short-term lodging and pay Transient Occupancy Tax (TOT). Permits for short-term lodging limit rentals to no more than sixty (60) days.
- In addition to paying for a permit, Fairfax County property owners must maintain a fire extinguisher, maintain a parking space, and designate an authorized agent. Alexandria and Arlington have similar rules.
- Failure to abide by local rules/purchase of the applicable permit can result in significant fines and a revocation of the ability to rent out your property.
Given the nuances across jurisdictions, it is best to check the law and speak with an attorney before you start up your own private rental business. Compliance on the front end will result in less headache (and potentially more profits).
If you have any questions about this, please contact me at firstname.lastname@example.org or 703-745-1849
ABOUT THEODORA STRINGHAM
email@example.com | 703-745-1849
Theodora Stringham assists individuals, businesses, and organizations with growing successfully while minimizing liability. Focusing on real estate and personnel needs, Ms. Stringham executes sustainable plans for real estate development and employee matters. She provides comprehensive representation for everyday growth issues, including, but not limited to, re-zonings, site plan approvals, eminent domain/valuation concerns, employment discrimination, and disciplinary issues. Ms. Stringham’s scope of representation ranges from identifying potential liability and providing counseling/trainings, all the way through representation at trial.
ABOUT OFFIT KURMAN
Offit Kurman is one of the fastest-growing, full-service law firms in the mid-Atlantic region. With over 185 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our twelve offices serve individual and corporate clients along the I95 corridor in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.
Find out why Offit Kurman is The Better Way to protect your business, your assets and your family by connecting via our Blog, Facebook, Twitter, Instagram, YouTube, and LinkedIn pages. You can also sign up to receive LawMatters, Offit Kurman’s monthly newsletter covering a diverse selection of legal and corporate thought leadership content.
MARYLAND | PENNSYLVANIA | VIRGINIA | NEW JERSEY | NEW YORK | DELAWARE | WASHINGTON, DC