Short-Term Rental | Limited Home Rental | |
---|---|---|
Do you own the property? | Yes | Yes |
Is the property your primary home? | No | Yes |
Can I lease my property for less than 30-days as a vacation rental? | No, in Lake Forest you cannot lease your rental or income property as a vacation rental. | Yes, but not more than 3 times per year and not more than 30 consecutive days. |
Can I rent a room out for less than 30 days as a vacation rental? | No, the City’s Short-Term Rental Ordinance does not allow you to lease any portion of your property for less than 30-days. | No, but you may lease your entire primary home for less than 30 consecutive days. |
Do I need to pay Hotel Taxes to the City? | Yes, you must register your property and pay any Hotel Taxes (10% tax) for every night the property was used as a vacation rental. | Yes, you must register your property and pay any Hotel Taxes (10% tax) for every night the property was used as a vacation rental. |
If I pay the Hotel Taxes can I then legally use my property as a vacation rental? | No, payment of Hotel Taxes is required but does not permit the use of your property as a short-term vacation rental. | Yes, renting your entire home for a limited time is allowed. Make sure to pay any Hotel Taxes due for the time you leased your home. |
Are there penalties if I do not pay Hotel Taxes? | Yes, failure to register and remit taxes will result penalties and interest. Each violation is also a misdemeanor offense. | Yes, failure to register and remit taxes will result penalties and interest. |
Can I lease a room or my entire property as a long-term rental? | Yes, you can still lease your home on a month-to-month or longer lease. | Yes, you can still lease your home on a month-to-month or longer lease. |
Do I need to pay Hotel Taxes on my long-term rental? | No, but you must continue to pay property taxes. | No, but you must continue to pay property taxes. |
For more information the Short-Term Rental Ordinance, please contact 949-461-3474.
For more information about paying your Hotel Taxes, please contact 949-528-3797