Discover the collection of rental property on Fisher Island.
The luxury lifestyle on Fisher Island is certainly a privilege to enjoy, especially if someone else is looking after all the details. Excellent service on the Island is to be expected; however, sometimes subtle details can be confused in even the most service oriented destinations. When renting property on Fisher Island, from the tenant or landlord perspective, there are countless details that must be carefully managed to successfully complete a lease. At Island Leasing, we are experienced in the details and aim to exceed the expectations of our clients. We understand all the information about the rental property on Fisher Island and handle every aspect of the transaction. This includes questions about guest access, club membership, Island services, service fees, and most importantly the rental tax issue for those short term vacation leases – just like a hotel stay.
That’s right, did you know that taxes are required to be paid by owners renting a property for six (6) months or less?
At Island Leasing we handle the tax payments to the State of Florida and Miami-Dade County, for our property owners. This ensures that taxes are paid and both parties, owners and visitors, have transacted correctly. Our turnkey solution is designed to adhere to Florida law and smoothly facilitate the transaction.
All that’s left is for owners to enjoy their income producing property while their tenants visit the Island and take in the ocean views.
The topic of short term rental tax is often misunderstood, but should never be overlooked by tenants or landlords. In fact it was even raised surrounding the popular AIRBNB website, “French lawmakers passed a law obliging Airbnb and similar sites to collect a “taxe de séjour”, or lodgings tax, like hotels” read the full article. A similar demand has been made for those in Florida using AIRBNB.
When not handled correctly, this issue can be problematic for the real estate professionals involved in the transaction. It’s vital that the real estate agents have a clear grasp on this matter. When seeking a short vacation stay on Fisher Island, taxes must be considered in the monthly costs. In addition, make sure that you are not overpaying your real estate agent either, their commission must be based on the monthly rental amount and not a calculated percentage that includes taxes. This is another important reason why the monthly rent and the taxes owed should be separately itemized in the rental agreement. Owners should always see this on a lease prepared by a real estate professional.
Our goal is not to avoid the taxes for our clients, but to avoid them dealing with the hassle associated with the taxes. Island Leasing is a registered sales tax collector; we’ll handle the collection and payments for no additional charge. This is the type of worry-free service you should expect when visiting Fisher Island. Any questions or concerns regarding these matters, be sure to connect with us today.