A couple of weeks ago, I looked at a problem a few neighbors approached me with — a nearby property owner renting out a house on Airbnb that had become a nuisance, they felt, with a succession of parties.
That column prompted David Krauss to email me. Krauss and his business partner, Andrew Schulz, have a product they feel is a boon to homeowners taking advantage of the short-term rental market — a noise detector that alerts a host when the noise level is reaching neighbor-irritating levels.
“We like to call it a smoke detector for noise,” Krauss told me. The device plugs into any electrical outlet, and after a fairly easy setup, begins churning out data for homeowners. (more…)
“The rules and tax-planning strategies for a vacation home are complex if the home is rented,” says Dr. Jerrold Stern, a research fellow at the Real Estate Center at Texas A&M University.
Truly, that’s an understatement.
More and more people are buying vacation homes thanks to growing employment and stock market gains. And as services such as VRBO, Airbnb, and HomeAway become more popular, more and more people are renting out their vacation homes. Find out what you can do to keep the IRS at bay when tax day comes over on SecondShelters.com.