Crystal Bay offers Lake Tahoe's Crown Jewel for sale for the first time. Built with creativity, ingenuity, and love, Crystal Pointe is an epic lakefront masterpiece cradling the contour of the land on 5.14 secluded acres with two lakefront parcels. Embracing 525 feet of lakefront with four buoys and seasonal boat barge. The Main Residence has an attached Guest House as well as a Caretaker's Apartment with over-sized 4-car garage. The magical Beach House completed in 2016 took ten years for just the permits. Totaling 8 bedrooms, 10 full and 2 half bathrooms in 16,232 square feet of magnificent living space. Together with 13 fireplaces, 10 seat theater with 14' screen and 1,687 bottle wine cellar as well as a private gated drive, entry pavilion, two glass funiculars, magical gardens, ponds and waterfalls, level lawns. Overall epic, energetic and empowering.
Have you heard the news? The City of South Lake Tahoe is planning to change the rules for Vacation Rentals again. But what are they changing, and how does it affect you?
A LITTLE BACKGROUND
A Vacation Home Rental (or VHR for short) is a home or condo that is rented out for less than 30 days at a time. You may have heard of AirB&B or VRBO. These are popular websites where you can search for a home to stay in when you are on vacation.
But don't people just stay in hotels when they are on vacation? Many visitors prefer to have more room than a hotel can offer. Extra space helps when you are traveling with a large family or a group of friends. They have a full kitchen, multiple bedrooms and bathrooms, and a living room where they can all hang out.
Staying in a VHR is becoming very popular. And because of it's popularity there has been a rise in complaints about them from the local community.
WHAT TYPE OF RULES ARE IN PLACE
Currently, there are already rules in place for VHR's within the City limits as well as in the unincorporated County areas of south shore. They range from maximum capacity restrictions to how many cars can be parked in the driveway. In order to run a VHR, you have to first receive a permit from the local jurisdiction. The permit process is pretty easy in the County area, but within the City limits it is more comprehensive. Check out our page on Obtaining a Vacation Home Rental Permit for more information on the process, and for links to the rules and documents from the City's website.
WHAT NEW RULES ARE THEY TALKING ABOUT
At a City Council Meeting on September 4th, there was a presentation of ideas for rule changes for the VHR program. Amanda Adams, one of my Team members, was in attendance at the meeting to not only learn about the proposed rule changes, but also to speak out on behalf of our clients rights to vacation rent their properties.
Some changes were just clarifications of current rules, such as counting children in the total occupancy rules. They also talked about limiting the total number of VHR's allowed within residential neighborhoods in the City limits to 1400. Another limitation was that a new VHR would have to be at least 150 feet away from another currently existing VHR. This rule is intended to spread them out so they aren't all bunched together in residential neighborhoods.
Most of these rules will not apply to condos.
There are more rules changes that they talked about. But at the end of the meeting it was decided that they needed more information. So they pushed back any decision on the issue to next month. As of now we do not know which of these new rules, if any, will be adopted and go into effect soon. But Our Team will continue to attend the City Council meetings so we can get as much information as possible and pass it on to our clients.
WHAT CAN I DO
Have you have been thinking of purchasing a home in South Lake Tahoe and using it as a Vacation Rental property? You may want to hurry up and purchase now. You will have a better chance of getting your permit accepted before the new rules go into effect. What you will need is a good agent to help you through the process and answer any questions you may have.
I can help you navigate through the VHR permit process, as I have for many of my previous clients.Our Team is trained and stays up-to-date on the City's VHR rules and regulations and can handle the process from A to Z.
Give me a call at 530-541-2465 or email me at firstname.lastname@example.org so that I can go over more details and help you find the perfect Lake Tahoe Vacation Home.
How the New Affordable Housing Bill will Affect Lake Tahoe
In mid-September, the California Legislature passed a package of bills aimed to address the
state's housing affordability crisis. C.A.R. supported the package, including one of the bills, SB 2 (Atkins), which creates an on-going source of funding for affordable housing programs. It imposes a flat $75 per document recording fee on every real estate instrument that is NOT part of a sales transaction with a cap of $225. The bills are awaiting the governor's signature. Finally, Gov. Jerry Brown signed the bill later that month.
What the law states resolve any concerns raised by recorders or title companies on what documents are subject to the $75 fee. According to law, property transfers trigger a transfer tax. Under pre-existing law, necessary documents to facilitate the transfer is subject to a transfer tax and omit from existing surcharges and since SB 2 uses the same language, it excludes the $75 fee too. The fee shall NOT be imposed on any real estate instrument, paper, or notice recorded in connection with a transfer subject to the imposition of a documentary transfer tax or on any real estate instrument, paper, or notice recorded in connection with a transfer to an owner-occupant of real property that is a residential dwelling.
The bill is expecting to generate hundreds of millions of dollars for housing programs. At least 20 percent is earmarked for homeownership programs.
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