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Is There a Better Tax Solution for Short-Term Rentals?

It was announced today that Avalara MyLodgeTax Pro, a SaaS solution that helps managers of multiple short-term rental properties increase efficiency and ensure compliance through automation, has been launched. This new offering from Avalara streamlines the calculation of occupancy and sales and use taxes, completes and maintains tax-related lodging registrations/permits for clients, and automates end-to-end tax returns and remittance to applicable jurisdictions.

Growing your business requires streamlined compliance

MyLodgeTax Pro is designed specifically for professional property managers with 5–40,000 properties, who must navigate complex regulations to help mitigate compliance risk for their clients. As online marketplaces assume more responsibility for the remittance of certain taxes, MyLodgeTax Pro helps account for these agreements, reducing the risk of overpayment (or underpayment) of lodging taxes. The system eases headaches for property managers by improving efficiencies in managing client compliance obligations and allowing managers to focus less on compliance and more on revenue-driving activities. 

“Property managers represent a large, growing segment of our customer base, in step with the increasing professionalism of the short-term rental industry,” said Oliver Hoare, general manager of Lodging at Avalara. “MyLodgeTax Pro is expressly designed for professionals overseeing all aspects of multiple property rentals, and we recognize that determining the correct taxes, filing reports, remitting taxes, and overseeing the various state and local licensing requirements detracts from core business goals. MyLodgeTax Pro lets property managers focus on driving more bookings and helping owners, rather than struggling with tax compliance.” 

Address compulsory short-term rental compliance obligations with Avalara

MyLodgeTax Pro can help reduce the time and resources required to achieve tax and regulatory compliance, providing the following benefits to short-term rental property managers:

•             Reduces audit risk exposure and noncompliance through up-to-date tax content

•             Provides registration with state and local tax agencies based on property information provided

•             Determines lodging tax rates based on the property’s address

•             Helps prepare, file, and pay lodging taxes when due

•             Facilitates comprehensive reporting to support internal or external audit requirements 

•             Provides support for tax agency correspondence and notifications management

•             Includes ongoing support from industry experts for easy setup 

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Editor in chief for eTurboNew is Linda Hohnholz. She is based in the eTN HQ in Honolulu, Hawaii.

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