By David Dorfman, Publisher RentLaw.com
For Fort Lauderdale (Broward County) property owners who are renting out their homes for short-stays, you should fully aware of requirements to register your property with:
- City of Fort Lauderdale – registration and license
- Broward County – Business License & County Tourist Tax
- State of Florida DBR – State Tax and Hotel / Vacation Rental License
CITY OF FORT LAUDERDALE INSPECTION
Your unit(s) will be inspected by the city for compliance. There is a checklist for additional items you need to have in place for a vacation rental. Should you fail to comply, you face stiff fines.
Go to the City of Fort Lauderdale Vacation Rental Guide.
You get a business license when you register with the county.
You then pay sales tax on the gross rental of your unit. You should keep track of your income and record it correctly so you may your taxes.
You register you property and units with the State of Florida.
You then pay State Sales Tax (note, some of the services such as AirBNB collect on your behalf and submit a lump sum to the state. You still file, record ZERO for taxes you collected if the service sends it on for you.
FAILURE TO PAY TAXES
You face penalties and late fees should you fail yo pay State or County Tax.
IT’S A BUSINESS
The business of renting out your home is not easy, not cheap. It’s a learning process. Be prepared to be strong, be organized and be a good host. Sometimes it’s just easier to rent year round. Many of the costs associated with short term renting are eliminated.