This explains the fewer number of transactions as the individual sale amounts are higher. This is not a calculation of appreciation but merely a trend; a good one, at that. Year-to-date, we have closed 23 compared to 30 last year same period. We have 11 pending versus 13 last year same period. We currently have active listings in this category. However, I will note that the volume and transaction numbers are down but the high producing agents, just as last year, are doing very well.
I have personally closed more sales volume this year as compared to last and I know the individual volume is strong for many agents on San Juan and Orcas. I propose that when the volume is lower, some agents continue to make things happen.
This video shares with you tips on how to conduct an enjoyable garage sale in San Juan Style. I figured out my best tip was to drink champagne!!! Rock Island has been busy for the last 4 years installing the base structure for our fiber and other internet connection options throughout the County. I decided to write this article as a layperson so that the options for our Internet service could be easily understood.
I have purposefully not used acronyms and the technical terms.
Islanders, as well as newcomers need to be connected and they desire their families to visit and, of course, the children and grand kids must have devices. As I understand, there are several avenues for consumers to obtain Internet service in our County and they include the following:. Visit the Rock Island website or email fiber Rockisland.
Rock Island is also providing the associated Internet support and is working closely with local property owners and business owners to upgrade their service. There are dozens of neighborhood plats that have already been served with fiber. As a group they organized to arrange for the installation charges via loans or special assessments. This approach allowed all property owners in the area to share in the middle mile costs and then the individual homeowners absorb the cost to install down their driveways.
The neighborhoods without Homeowner Associations have struggled to get organized enough to be placed in the queue for fiber.
San Juan County generates more state tax revenue than receives in state funds | Islands' Sounder
Roche Harbor Resort was on the front line for fiber installation and has benefited accordingly. They now offer internet and telephone services to the transient population staying at the resort and in the marina. Rightfully so, Roche Harbor deemed having high speed Internet as their number one guest amenity. Guests stay longer when they can keep connected to their work and family.
As property owners, we need to be the ones that accept the responsibility and bring the fiber to our homes. We need the level of communication, safety and entertainment that it offers. The fastest growing segment of the general population joining Facebook is those individuals that are over 65 years old. I need good connectivity as I am a grandma plus I need to process real estate out of my home office.
My LTE experience was very positive. I needed additional items to get my connection working. I am pleased to say I enjoy mb and can work out of the home as needed. Having good connectivity is imperative and all property owners should take advantage of the Rock Island programs. The information below is meant for informational purposes only and does not incorporate all the rules and regulations. It will however provide those who want to learn more about residential renting of homes in the County an overview of at least some of the things they need to consider, and do, prior to listing property for rent.
Long Term Rentals.
No permits are required. A long-term rental is typically a term lease and can also be month-to-month. Vacation Rentals. A vacation rental permit from the County is required. Further, Town prohibits them unless the property is commercial.
Real Property Taxes
The permit application can be processed by a property owner or by a professional who specializes in land use permits. As long as the property lawfully qualifies, the County should approve the permit, even if a neighbor has an objection. If the property is improved with a main home and a guest house, only one of the dwellings may be designated as a vacation rental. If either the main or guest house is a vacation rental, the other dwelling must be owner occupied or rented to a long-term tenant. A guest house may be internal, attached or detached.
Under a vacation rental permit, the tenant rents the use of the entire house -a house is defined as one that includes at least a kitchen, bath and bedroom s.
The permit allows the rental of a bedroom which may include a bathroom on a nightly basis, and the tenant shares in the kitchen and other rooms. The land use designation zoning of the area, and the site and building configuration are determining factors in how a building may be rented. Some general statements:. As you may be aware, many plats have voted to restrict vacation rentals, as they deem them as a commercial or non-residential use.
Many plats made the decision to prohibit vacation rentals due to negative experiences. They most likely considered that some tenants were not respectful of the adjacent property owners with their music, loud voices and trespassing. Further, with delicate water and septic systems, vacation rental occupants can add pressure to these systems unless the tenant receives proper instructions. I was unable to locate any statistical data to support that a person on vacation does more dishes, laundry or uses the bath facilities or road systems any more than a family of four living in a home.
My guess is they do use the refrigerator door more to get a fresh beverage and I assume the BBQ never gets a break. Prior to making a decision about which type of rental is suitable and what is best for the property, an owner should consider the expenses associated with each type of rental, proposed income, and the potential impacts. Short Term Property Management. Professional property management fees vary slightly and there are only have a handful of property managers on the island.
They have service providers on staff or available that respond to their requests in a timely manner. If you decide to self- manage your property, the honeymoon with vacation rentals may be over in a short period of time. I highly recommend that you utilize a land use consultant for the permit process. The consultant will not only guide you through the process, they will assist you with the discussions you may need to have with adjacent property owners, with County officials and help you hire service providers such as surveyors, septic inspectors, well testers, etc.
Town Water. Again, is there evidence that a vacation rental occupant on Town water uses more water than a primary resident? Their carrier must write a commercial policy, the standard rental policy assumes month-to-month or long term, not nightly. The property owner should also consider having a liability umbrella policy in the event of a major injury to the tenant. Owner Builder. Local Regulations. In our County Council updated our vacation rental permit guidelines and the result was a set of workable rules and regulations. As someone in the industry, I think they did a good job in updating the rules.
Impacts to Affordable Housing. Many believe that having so many vacation rental permits has an impact on the availability of affordable housing. However, one can note that the most successful vacation rentals offer many features; amenities such as views or water access and are large homes that can sleep several groups.
These homes would rent much higher and would not be in reach of some of our school teachers, retailers, construction workers, tradespeople and other middle class service providers. There are a lot of unanswered questions about the affordable housing solution in the islands but that is an entirely different topic that needs to be dealt with. Economic Decision. Many property owners here assume if Seattle is a robust market then the San Juan Islands are one as well, but that is not the case.
Our sale and rental markets are very different from the metropolitan areas, and yes, a vacation rental in the Seattle area will debt service much better than one located in San Juan County. When a property owner does the math and realizes that the net income is very similar for both a long-term tenant versus a vacation rental, the romance of vacation rental income will tarnish.
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The strongest driving factor is the advantage of using your investment home for personal use when it is not occupied by a tenant. Your tax schedule E form offers a wonderful impact to your tax filing versus having only your second home write-offs. With an investment property, the majority of your expenses may be deducted from the income but only some expenses can be deducted for a second home.
It is the best of all worlds; while using your home, you do some touch up paint or other chores and you may be able to write off your visit for repairs and maintenance.