If you are thinking of purchasing a vacation home in South Lake Tahoe, it is important to keep in mind how you plan to use it and how you plan to manage it. Here at Pinnacle Lake Tahoe Getaways, we handle every single aspect of managing a vacation home in South Lake Tahoe, so we do have some words of advice. Check out our tips on what to think about if buying a second home is on the horizon. Knowing how you plan to manage the property is an important thing to keep in mind as it can influence certain factors like size, location and proximity to certain amenities.
Location, location, location! This is probably the biggest factor. If you plan to purchase the property for yourself and your loved ones and you know for a fact that you will NEVER rent it out as a source for income, you have minimal restrictions to worry about. If you plan to use it part time, as a seasonal lease or vacation rent it out as an income source and use it when it isn’t booked, there are some things to keep in mind. Currently, location is the biggest factor. With the local Vacation Home Rental (VHR) ordinance in place, you cannot purchase a South Lake Tahoe vacation home in the city limits and legally rent it out unless it is in the tourist core. Currently, you must have a permit to vacation rent your home and before you can get one of these permits, you must go through a rigorous inspection. If you purchase in the county, you do not have these restrictions currently. While they could be on the horizon at some point, they are not at the moment. While the term “county” makes this area seem super far away, it is not. In fact, it is within minutes of what is considered the city. So while walkability might not be as great, the same wonderful amenities that residents of the city are privy to, the county is as well and then some.
Regardless of whether you plan to keep the vacation rental in South Lake Tahoe for yourself or open it up to others, maintaining it from afar is crucial. There are MUSTS every season that should be factored in. During the winter, snow removal and having your property prepared for a storm or cold weather is necessary whether you are there or not. Frozen pipes, flooding, snow removal for the driveway and removing heavy snow from a roof to prevent damage to the home are things a novice South Lake Tahoe vacation home owner may not think about. During the summer, it is about landscaping, keeping your home bear safe and creating a defensible fire space around the property. And all year around requires cleaning. While you can find vendors on your own from afar, it is recommended to have a management company like Pinnacle Lake Tahoe Getaways handle the details for you. When you use a reputable local company, we schedule every aspect from cleanings to fixing last second repairs. We also handle the late night phone calls from renters if you plan to rent it out to others for income.
If you are planning on purchasing a vacation rental in South Lake Tahoe, give us a call. We have licensed Realtors and a long term property company so we are well versed in all things rentals and real estate. If you are on the fence between renting out to others and using it for yourself, we would be happy to answer questions and offer guidance.