If you own or manage a vacation rental or other investment property in the South Lake Tahoe area, you, your guests and tenants could soon be facing increased rule and regulations. City leaders reportedly agree that increased restrictions are necessary in order to successfully enforce the law and reduce common issues related to vacation rentals. According to a recent Tahoe Daily Tribune report, city officials have decided to move forward in creating new legislation which aims to reduce the number of rental-related complaints police authorities investigate each year.
According to the article, 1,500 permitted vacation home rentals currently exist in the South Lake Tahoe area alone, and Lake Tahoe as whole is highly sought after tourist and vacation destination. It is not uncommon for local law enforcement to receive noise complaints, trash and parking violations, and other such disturbance complaints in relation to vacation rental properties. AS such, authorities are considering rules which would limit outdoor hot tub use after 10 p.m., prohibit “amplified” outdoor music after 10 p.m., reduce the number of allowable occupants allowed in a single rental property unit and requiring bear boxes at properties with repeat trash violations. Officials are also considering imposing steep penalties for even first time violations. City officials have said that many of the proposed new regulations would be “complaint-driven,” meaning that their enforcement would be contingent upon authorities receiving notification of a violation or disturbance.
Furthermore, vacation rental owners could soon see steeper permit fees and restrictions as well. City officials are looking to increase the annual vacation home rental permit fees from the current $210 for the initial permit and $144 for a renewal, to up to $1000 for larger, multi unit properties.
The owners and managers of Lake Tahoe investment properties have many unique property and liability exposures, which without the right insurance and risk management strategies can lead to a number of costly repercussions. At Cal-Nevada Insurance Agency, we specialize in helping commercial real estate and investment property owners complete their insurance portfolios with quality policies secured at affordable prices. To learn more about our interstate operation and all our Lake Tahoe property insurance solutions, contact us today at (866) 670-5948.