All Forum Posts by: Lindsay Buchanan

@Carlos Ptriawan I have a couple people that I recommend, but Tahoe Getaways is one of my favorites. If you would like more recommendations, send me a message! 

@Tiffany Connolly I'm in Truckee too! My husband and I have invested in multifamily properties in Reno. Let me know if you want to connect; I would be happy to share what we are doing, including our wins and losses.

@Alex Keim

Short-term rentals in the Truckee/Lake Tahoe area have become more challenging, but not impossible. Currently, in Placer County, where Kings Beach is located, there are still about 500 permits available. I work with many individuals who purchase homes and utilize them just as you are considering. What I often observe and hear from people is that you can anticipate having it rented between 100-150 nights a year. This depends on the rental's location and your nightly rate. A place like Kings Beach is excellent because it attracts people during the summer (close to the beach), winter (proximity to Northstar), and those who enjoy gambling (close to NV). Feel free to reach out if you have any further questions; I would be more than happy to assist!

Cheers,

Lindsay Buchanan, CA DRE 02092359 

Hi @Paul Wolfson,

As of right now Incline Village, NV (Washoe County) doesn't have a cap. The only restriction you would find is within a HOA. There is talk of this potentially changing in the near future. Another option is Placer County, CA (Kings Beach down to Homewood as well as Northstar and Palisades). There are currently about 600ish permits available.

@Lane C. I mostly work in North Lake Tahoe and Truckee, both on the CA & NV side. 

@Christian Espana the market is shifting! And we just saw a lot of homes listed over the past couple of weeks! I look at these numbers every Monday. I look at both North & West Lake Tahoe & Truckee, both single family and condos. But here are some of my weekly stats below. 

North Lake Tahoe & Truckee
SF and Condos Active listings: 213
average days on market: 51 days
median list price: $1,400,000
Pending/contingent: 142
average days on market for pending/contingent: 28
median list price for pending/contingent: $1,224,500
Sold since 5/1/2022: 87
46/78 have sold for over asking price: 52% have sold for over ask
median sold price: $1,350,000
average days on market for solds: 31 days

I also sent you a message! Let's connect! 

@Andrew DeLorenzo I have not seen anything yet. When I see more information, I will be sure to pass it along! 

Hi @Andrew DeLorenzo. Below is the new proposal for STRs in Truckee. As of right now, they are not issuing any new permits. And the proposed plan below will start the middle of June.

Cap STR registration certificates town-wide at the 1255.

Phase out STRs in both multi-family units and Accessory Dwelling Units. This means that no new registration certificates will be issued for these types of units

One year waiting period after a property sells before it is eligible to register as an STR.

Increase penalties for violations. Add new fee for inspections following a citation.

Establish a December 31 deadline for annual permit renewal to facilitate management of the waitlist.

Conduct a review of the STR program in summer 2023 and bi-annually after that.

Develop incentive program guidelines for a new STR registration certificate-based Workforce Housing Advancement Program to incentivize new workforce housing.

I am a realtor in the area and know what's going on real time. Let me know if you have any additional followup questions or want to jump on a call. 

@Matt Huber correct, the 900 property cap applies to the Lake Tahoe Basin. And the 500 foot buffer is county wide, inside and outside of the Lake Tahoe Basin. 

@Matt Huber 

Here is the link to the website: https://www.edcgov.us/Governme... 

There is a 900 short term rental cap, it is not a backlog.