All Forum Posts by: Josh Madigan

 I did see it and scheduled the sprinkler installation but heard they are now requiring additional improvements that weren't originally discussed like multiple egresses, changes to pool room doors etc.  

Thanks for the response, this makes sense.  I've scheduled my sprinkler install and working on the egress.  

Do they schedule the inspections ahead of time or just show up randomly and unannounced?

My calendar is booked with large groups for the next 6 months they are expecting me to cancel all of those bookings? 

I own a 6br pool cabin that sleeps 20+ and am going through the process of adding sprinkler system to bring it up to code for >12 occupancy.  However I just received a very concerning letter from the Fire Marshall Office saying I need to provide a notarized letter within 5 days stating I will not have more than 12 occupants in the cabin until I change the Certificate of Occupancy which would be devastating to my bookings.  Are they actually going to start enforcing this?

Does anyone know what else needs to be done to change the certificate of occupancy from less than 12 to greater than 12 besides the sprinkler installation and has anyone successfully gone through this process?

I own a second home on a large piece of property.  I plan on subdividing a portion of it and building a single family home on this new parcel.  I believe this home will increase in value over time, so am considering it a "spec" home.  I also plan on letting guests and family stay in the newly constructed spec home before it is sold.  Which leads me to my questions:

- My lender tells me I will need an investment mortgage on this property, does that mean I will be able to deduct interest exp/taxes/operating losses  etc against other passive real estate income from other rental properties i own?

- Any other tax implications I should be considering?

Thanks for your help

Are people still using MyLodgeTax to pay the small tax that isn’t remitted by Airbnb/Vrbo?

What types of pots and pans does everyone use in their rentals? Non stick or stainless? Cheap/middle/or higher end? 

*Must file for an exemption for each property.

I own 2 properties in the Smokies, each in their own single member LLC. I applied for the FONCE Exemption about a month ago and successfully received my exemption about two weeks later. Must file for exemption every year.

I have some guests that are supposed to be checking out today but are telling me they are snowed in/can’t get down the mountain. Fortunately my next guest isn’t checking in until tomorrow so I am able to give them some extra time/another night, but this is the second time this situation has happened this winter so I know it is only a matter of time until this occurs when I have new guests checking in on the same day. How do ya’ll handle these situations?