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Originally Posted by tophcfa
The reality is that the subject at hand is a grey area. Unfortunately, laws defining a rental property business are outdated and were written when AIRBnB’s didn’t exist. The laws never contemplated owners of residential properties advertising through an app on the internet to rent rooms in their homes by the night to transient tenants.
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Technology almost always out-paces regulation. You need to look no further than the issue of gun control. Some folks claim the US Constitution gives us the right to own weapons, others will argue that framers of the Constitution didn't envision an AK47 in everyone's closet.
"Privacy laws" are the same. The framers didn't anticipate drones, nor the recording of text messages and phone calls.
Quote:
Originally Posted by tophcfa
when a party charges an unrelated third party a fee to sleep in a bed with a roof over their head, they are running a business. And the IRS agrees with that opinion. Rental income from AIRBnB’s is considered taxable income.
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It's taxable income, but not "business income". Same as it's been since the IRS began. Look no further than the recent proposal to "tax unrealized capital gains". Income, but not necessarily "business income".
Quote:
Originally Posted by tophcfa
On the other hand, homeowners who rent out rooms by the day to unrelated third parties, are definitely violating both deed restrictions.
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There was a time when I would agree, but the courts have consistently ruled to the contrary, to say nothing of the fact, it's been an accepted practice for generations. Most every person reading this post, has a relative who lived as a "boarder", when they first came to this country.
Just for the heck of it, define "unrelated 3rd parties". Can you not allow your step-parents to live in your house? Can you not rent a room to your old college roommate, you've been friends with for 50 years? What about your Army buddy who's down on his luck and saved your life in the Vietnam war ... he can't stay in your extra bedroom?
Quote:
Originally Posted by tophcfa
So a resident can put a little white cross in their garden, which won’t disrupt the quality of life in the neighborhood, but will result in daily fines because it’s an external restriction.
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There are plenty of folks who are offended by the "white crosses", but don't feel their quality of life is harmed by rentals. We don't get to pick & choose which regulations we like or don't like.
The fact of the matter is, white crosses are unequivocally prohibited, STR's are not.
Just as an aside, I live directly across the street from a STR and another home, that is rented long-term, by a high-level TV employee who's under 55. The STR is far less disruptive in my opinion.