I Can Sell Your Home Immediately!
Let me help you evaluate your Pacific Palisades home's selling potential. With over 28 years of real estate experience in Pacific Palisades and the Westside, I can help you determine your home's estimated market value. One of the best ways to determine how much your home is worth is to compare it with similar homes that have recently sold in your area, as well as current homes on the market in the Palisades.
An overpriced home can sit on the market for a longtime. An underpriced home may cost you thousands in lost profits. Before you sell a home, it is crucial that you know your home's true market value in today's ever-changing real estate market.
Knowing what your Pacific Palisades home is worth is important if you are thinking of selling your home. Using the information you submit to us in the form, we will conduct a comparative market analysis by searching the database of all homes listed or sold in your area. With this current market data, we will be able to determine a range of what your Pacific Palisades home might sell for if you decided to put it on the market.
Selling Information
Hello Clients, If you are considering converting a rental unit (or even your own home) into a vacation rental, this is information you will want to consider.
Listing a home for rent through Web sites like Airbnb, HomeAway and VRBO (Vacation Rentals by Owner) is fairly simple; but becoming a host can get complicated and potentially costly if they don’t prepare.
Tax Liability
When renting out a personal residence for less than 15 days a year; the money earned does not need to be reported as income.
However all vacation rental services send “1099s” documenting the income to the IRS, so the hosts must submit documentation proving the bookings are less than 15 days.
Fees from renting an investment property must be reported as rental income in the Schedule E.
Fees and Costs
Local Municipal Taxes and Fees: Increasingly city and county governments are monitoring the vacation rental sites in an effort to collect taxes (bed tax) and licensing fees.
Service Fees: Airbnb charges a 3% fee for processing payments. VRBO.com, charges hosts $349 annually OR a 10% fee for each booking made through the site.
Cleaning Fees: Homeowners can add cleaning fees to the cost of the rental.
Insurance: Most home insurance policies cover short-term rentals. If there are multiple short-term visits, the insurance company might require a “business policy rider”.
If you are interested in finding an investment property for short-term or long term rentals, please give me a call at (310)-403-5535.