SB 2089 Tansient Accomodations

[Kapohocat]

If you own a vacation rental and live off island, you might like to read through the following posts:

http://community.homeaway.com/docs/DOC-2...mment-3011

and sign the petition created by a vacation rental owner at:

http://www.change.org/petitions/senate-c...mmodations

It affects:

Your IRS deductions changing them from active to passive if you are off-island among other things it does to individual vacation rentals.


ETA: this came across my purview today. Very Professional [:p] from the licensed realtors people who some think they should be managing things. Oi Vey.


From: Pat Sullivan
[my educated guess is this is Pat Sullivan from Sullivan Properties on Maui]

Sent: Thursday, January 26, 2012 1:56 PM
To: Recipients are void to protect them
Subject: FW: Housing Committee Result - Bill HB 1706

I didn’t have time yesterday to provide written testimony but they passed the initial Bill with a complete affirmative vote from the House...The Bill will require all mainland owners who rent their homes or condos out to have a licensed Realtor on island...ie...Bayer...vinson...~er~dt...~~j5 way the State can make sure everyone is paying their GET and TAT... yee hahhhhlll! But don’t tell anyone yet...let the Bill get passed! !...then we can get some $$$...unless they find a cheap Broker who will represent them for cheap...

[grumpyscosmos]

KPC...Was glad to sign the petition. I don't think the state has the right to limit what kind of rental agreement a home owner can choose to offer..And something smells funny to me when the state is trying to install the Real Estate Business in place of the home owner...BTW..How would this affect if any, a property owner who rents a room or apt. at his/her personal residence??


“It is no measure of health to be well adjusted to a profoundly sick society.” " Krishnamurti "

[Kapohocat]

They are changign it already but the previous drafts did not refer to "on-island" owners. It was geared to off island owners.

The changes coming make no more sense. I read through it.

The issues some people have with individual owner's is not being addressed - it is now all about taxation issues.

[Obie]

This part was added:

"A nonresident owner who obtains an annual tax clearance from the department and submits the tax clearance along with its federal tax form 990 to the real estate commission shall be exempt from subsection (a)."

Subsection (a)says that a broker or real estate agent is required.

Looks like everyone's job is secure as long as the owners follow the rules and pay the taxes.