Occupancy taxes. Lodging taxes. Whatever you call them, short term rental taxes have been a huge source of uncertainty for multifamily owners and operators curious about short term rentals. Potential clients always ask the same questions: “How do the taxes work? Who collects them? How do we file them?” Followed by the inevitable, “We don’t really want to deal with that.”
Today, we’re excited to announce a solution you don’t have to deal with.
ApartmentJet can now manage your occupancy taxes for you. As part of our Smart Stay Program, we will calculate, withhold, and file occupancy taxes on your behalf. To make it possible, we’ve partnered with Avalara MyLodgeTax, experts in the lodging tax management space.
“Lodging tax management is one of the more tedious and often ignored aspects of short term rentals,” says Robert Stephens, General Manager at MyLodgeTax. “We’ve had years of experience in the vacation rental industry, and we’ve established a solid track record working with the state and local agencies to facilitate the process. ApartmentJet has found a way to make short term rentals accessible and profitable for the multifamily industry. We’re thrilled to partner with them and to bring our knowledge and experience into the multifamily space.”
How it Works
When you sign up with ApartmentJet, we’ll help you identify your community’s occupancy tax requirements. We’ll provide a list of the specific taxes you need to pay, the tax rates, and a filing schedule.
When a guest stays at your community, we’ll calculate and withhold the taxes. In situations where AirBnB already collects the tax, we’ll report on it, but we won’t double withhold. Every quarter (or month, if a location requires), we’ll file your taxes with the state or local agencies. Your ApartmentJet payment receipts will clearly indicate the taxes withheld. You’ll also get a report every quarter providing tax filing data.
It’s that easy.
Effortless and Affordable
Tax Management is included with our Smart Stay program at no additional charge, but there are a couple fees directly related to the filing process.
Every state and local authority has different licensing and filing requirements. We will work with MyLodgeTax to acquire the necessary licenses. You will be responsible for those license costs. Additionally, there is small quarterly fee for each location to cover the cost of filing with local agencies. It’s a small cost that puts you in compliance with state and local tax requirements.
Get Started Today
Occupancy Taxes are a primary reason multifamily executives give us to explain their hesitancy to explore short term rentals.
We’re excited to say we have a solution. Over the past few months, we’ve piloted the program with a handful of our existing clients, and now we’re ready to roll out the service to everyone. Get in touch today to learn more. Don’t let fears of tax compliance get in the way of new revenue.