Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
So I understand the owner can use the property 14 nights a year and nights where they are working on the property..
can the owner also just rent their own unit ? pay fare market rate .. would cost them PM fee i guess if they have a PM and cleaning fee unless they wanted to do the turn themselves. ??
I'd be careful with that one. My understanding is that under the vacation home rules (Section 280A), any day you or your family stay there counts as a personal use day even if you pay full market rent, so renting it to yourself doesn't turn it into a rental day. The days that don't count against you are ones where you're working on repairs or maintenance substantially full time, so a dated log with photos and receipts for those trips is worth keeping. I'd confirm with a CPA before relying on it, since going over the limit (the greater of 14 days or 10% of rented days) changes how your expenses can be deducted.