Hi everyone, if you're an STR owner in Vermont or looking to buy one in Vermont, I wanted to share that the state's Ways and Means Committee is considering imposing a new 10% tax that would be on top of the tourist room and board tax that already exists.

Short term rentals impose costs on the local community (parking, noise, increased demands on infrastructure), so regulation is completely justified.

I am building a single family home along with an ADU and a Junior ADU (JADU) in Castro Valley, CA and the county wants to impose a deed restriction which will require owner occupancy of the JADU/Main Dwelling Unit (MDU) per CA - Gov.

If they continue to occupy after the lease expiration in most jurisdictions they are a tenant holding over and you can impose rent at 150% of what it was in the last month of their lease.

Lastly, if it's a big job, you should look at a previous project he completed to get an idea his quality, or have someone else do this for you if it's long distance.10 years ago, I would have said most of this was unnecessary, but today, you need to really do your due diligence on your contractors before hiring them. 

After the property is renovated and rented out, they seek to refinance the property with a traditional mortgage to pay off the hard money loan and potentially extract some cash.However, some lenders impose a seasoning period for refinancing, which means that you must hold the property for a certain period (often six to twelve months) before refinancing is allowed.

There's a lot of chatter on these forums about pros and cons to forming LLC's in specific states citing greater protection and privacy but it's not entirely accurate and certainly unnecessary.

(b) The failure of a limited liability company to observe formalities relating to the exercise of its powers or management of its activities and affairs is not a ground for imposing liability on a member or manager of the company for a debt, obligation or other liability of the company."

While a good list helps, talking openly with tenants about property expectations is also vital to prevent unnecessary damage.

Additionally, there is NO verbiage that states the Landlord cannot impose verbiage in a Lease of a non-pet owner to prevent future pet ownership...