Quote:
Originally Posted by thevillages2013
If you are going to rent short term (any lease less than 6months+1day) you will need to collect from your tenant the “hotel” tax and pay it to the state.
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This is why you don't take advice from random posters on TOTV. This statement is without context and therefore can be interpreted incorrectly.
Hotel tax is collected if you provide hotel services which is in and above just renting the property. It includes, food services and laundry services, as an example.
However, do your market research to figure out who will be your customers, and how do the financials look at 100% occupancy in Jan->Apr and then 50% in the remaining months.
From your original question, you aren't serious, as its very easy to search for rentals with google as if you were searching for a rental, to easily do a financial statement. All the competitive information is available on the internet, including bond costs, real estate taxes, insurance costs, location. etc. Rentals always come down to occupancy rates to figure out break even and return on investment.
We were not profitable in 2020 with 40% occupancy, and this year we are not profitable with 60-70% occupancy, without a mortgage, including depreciation, for ROI
finance guy