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All Forum Posts by: Nancy Bachety

Nancy Bachety has started 48 posts and replied 982 times.

Post: STR contracts - do you think they are necessary on AirBnB?

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

I use what John mentioned above on VRBO.^^

Post: STR contracts - do you think they are necessary on AirBnB?

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

I think what you are asking is if those who uses a STR rental agreement have ever needed to enforce it because either airbnb/vrbo refused to support the host OR they skipped trying go through them for a claim.

Post: HILTON HEAD FEE BASED PROPERTY MANAGER RECOMMENDATIONS

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

Congratulations on your purchase. I don't, but love HHI. What condo association did you buy into that allows STR?

Post: Tips For Vetting Your Airbnb Guests Before Booking

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

I’ll add that guests do not have to indicate if they are bringing a service animal nor provide any documentation. My auto reply asks if they are bringing any “animals/pets” to try to find out. 

Post: Short Term Vacation rentals in Hilton Head SC

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

There's an abundance of Time share resorts and longer than short term rentals on HHI. No matter where you look, start with regulations first. 

Post: Short Term Vacation rentals in Hilton Head SC

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

So it seems you are aware of the regulations? Plentiful for sure. 

Post: Short Term Vacation rentals in Hilton Head SC

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

First, check the regulations for STR.

Post: Clearing Up Confusion on Tax Treatment of Short Term Rentals

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

@Greg O'Brien I believe we grouped them together, all of them. I’ll have to check, it was from 2019. All on schedule E. My logs are pretty good, actually. 
Copied from IRS pub 925 under material participation:


.
This is an Image: files.gifProof of participation. You can use any reasonable method to prove your participation in an activity for the year. You don’t have to keep contemporaneous daily time reports, logs, or similar documents if you can establish your participation in some other way. For example, you can show the services you performed and the approximate number of hours spent by using an appointment book, calendar, or narrative summary.

Doesn’t even need to be contemporaneous logs. 

Post: Clearing Up Confusion on Tax Treatment of Short Term Rentals

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

This is a fabulous post, thank you @Greg O'Brien. I am currently in talks with the IRS regarding this very topic, unfortunately. 
I think what muddy's the water is we have four LTR and three STR's. So we have legitimate rentals and we legitimately materially participate in the STR business too. I am about to submit to the IRS my log of 500+ hours working in the STR business, most of which come from communicating with guests, cleaners, maintenance people, Airbnb, VRBO, and managing supplies, shopping, bill paying, pricing, calendars, all the daily and weekly tasks. I'm excluding travel time to the property for the STR's.

Any words of wisdom regarding material participation that you referenced?

Post: Sanibel Island, FL STR

Nancy BachetyPosted
  • Rental Property Investor
  • Sag Harbor, NY
  • Posts 1,009
  • Votes 622

@Robert Finn Nice house. I just emailed you.