Looking for advice in the lake Tahoe area.
We are thinking about buying either a condo in a full service community on the water or a single family home, with the intent to rent it out as often as possible and use it when its not. Any advice on areas?
Were thinking incline village, it is expensive but the area is the best.
How is demand for rentals in winter and summer?
Thanks in advance
Hey @Shane Vince , I have/had 2 properties in Lake Tahoe, one in South Lake Tahoe and one in Tahoe City (North/West Shore). Just sold my South Lake property to diversity a bit though. I actually just stayed last weekend in Incline at a friend's property in one of those full service communities.
What makes you say incline is the 'best' just out of curiosity...best at what exactly? Incline is definitely one of the more affluent areas making normal purchase prices only available to condos for the most part. There are a few golf courses and a really nice Hyatt on the lake and some really old casinos at the state line down the road. But not much other than that in my opinion. Other areas in Tahoe have better downtown shops and restaurant areas for walking and touristy stuff.
South Lake Tahoe is in an STR regulation crisis at the moment but it was by far my biggest money maker, booked over 200 days a year a few years even. My Tahoe City property is new but so far it's fully booking out most of the summer weekends and since it's only 10 mins from Squaw Valley I'm confident it will do well this winter.
My numbers show an average occupancy rate for Incline at around ~50% overall so hopefully that helps give you some idea on demand. But that really depends on the marketing the full service provider is giving you. My biggest issue is those full service providers certainly make it easy to own and maintain but not all of them do a great job marketing the properties, so just be aware of that.
Hope that helps a bit and feel free to message me directly if you have any other questions you think I could answer for you.
PS - You might want to post in the STR forums also as there is a lot more people in there with expert knowledge on vacation rentals in general.
I am very interested in this conversation as I too am exploring the possibility of purchasing a duplex in the North Lake Tahoe area, where I can rent one unit year round and rent the second unit when I am not there. We currently live in NYC and are seriously considering moving to a no income state tax state such as Nevada.
We are interested in a location that is in short driving distance (approx 20 minutes to the lake) and similar driving distance to other outdoor activities such as hiking in the summer and skiing in the winter.
We visited South Lake Tahoe last winter and absolutely loved Heavenly and we are heading back this fall to get to know the North Lake Tahoe area.
I'm looking forward to hearing from others who are familiar with the area and I would also be interested in meeting fellow BP'ers when we are in town this fall. Thanks!
@Jon Crosby Hey Jon, stumbled across this post while doing some research of my own on the Lake Tahoe STR. Would you be willing to share any contact information with who you used for the area? Management, Realtor, cleaning service? Would love to start a conversation with you if you don't mind sharing your experience and advice with the area.
I own an STR in the Tahoe City area. It has been a very productive property - I used the Moore Real Estate team at Corcoran Real Estate as their team is well versed with STRs and was able to guide me in which properties would work best and why (parking, snow loads, driveway directions for ice, neighborhood tolerance for STRs, county permitting, etc.,).