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        <title>Newport RI Real Estate Blog</title>
        <link>https://www.hoganassociatesre.com/blog/2015-06/</link>
        <description>Read Hogan Associate's take on real estate trends and life in Newport, RI.</description>
<item>
    <guid>https://www.hoganassociatesre.com/blog/rhode-islands-new-8-tax-on-short-term-rentals.html</guid>
    <link>https://www.hoganassociatesre.com/blog/rhode-islands-new-8-tax-on-short-term-rentals.html</link>
        <author>leslie@hoganri.com (Leslie Hogan)</author>
        <title>Rhode Island's 8 Tax on Short-Term Rentals</title>
    <description> <![CDATA[ 

8 short-term rental tax effective July 1, 2015.


Here are the details:


WHO WILL OWE THE TAX?




Private Home Owners who rent their homes for fewer than 30 consecutive days will be required to obtain a sales tax permit and collect an 8 tax (7 sales tax plus a 1 hotel tax). Real estate commissions and cleaning fees included as part of the lease are also subject to the tax. Refundable damage deposits are not taxed.




WHO COLLECTS THE TAX?




Homeowners are responsible for collecting taxes from tenants. Homeowners are also responsible for collecting the tax if their tenants sublet their property (with or without their knowledge).




This is an excerpt of the DRAFT regulation distributed 6/24/15 regarding Agents' responsibility for tax collection:





CAN I DO ANYTHING TO PREVENT / POSTPONE THE TAX?




No. But you can express your opinion.  Click here to find out who to call: https://sos.ri.gov/vic/




House of Representatives Contact Information


State Senate Contact Information


ARE THERE ANY EXEMPTIONS?




Anyone who signed a contract prior to July 1, 2015 will be exempt no matter when they pay the rent.






Rental agreements for more than 30 consecutive days or for one full calendar month are exempt.




WHAT ARE THE HOMEOWNER'S REPORTING RESPONSIBILITIES?




Homeowners who rent their property for fewer than 30 consecutive days will be required to obtain a sales tax permit ($10) and file monthly reports with the State during the months they rent out the property.  For example, a home owner who rents a cottage for one week – or even one day - to a tenant in July would be required to file a July return by August 20th.


Returns are not required for months when no short-term rentals take place.


An annual return is also required.




WHAT IF I DON'T COMPLY?




Current RI law states each day a person engages in business without a permit constitutes a separate offense. Non-compliance  could result in penalties of up to $5,000 per offense and/or imprisonment for one year.




IF MY TENANT WON'T PAY, CAN I PAY THE TAX FOR HIM/HER?




No. Owners may not pay taxes for tenants.




HOW CAN I LEARN MORE?




Call the RI Department of Revenue and request a copy of their tax advisory report explaining procedures and forms.


 ]]> </description>
    <pubDate>Fri, 19 Jun 2015 20:22:00 -0400</pubDate>
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    <guid>https://www.hoganassociatesre.com/blog/summers-better-in-a-newport-beach-house.html</guid>
    <link>https://www.hoganassociatesre.com/blog/summers-better-in-a-newport-beach-house.html</link>
        <author>leslie@hoganri.com (Leslie Hogan)</author>
        <title>Summer's Better in a Newport Beach House</title>
    <description> <![CDATA[ 
What makes the perfect RI Beach House?


Everyone has their own criteria for RI beach house perfection. For me it's the sound of the surf at night, walking out the door onto the beach, a fried clam shack nearby (serving the &quot;real&quot; kind with bellies and tartar sauce), ice cream cones scooped by industrious kids seeking &quot;tips for college,&quot; and, oh yes, I want to do these things with all the people I love, all at once, in one house big enough for togetherness and solitude.


Enter 115 Purgatory Rd, Middletown: Beach House for Sale


You might think this heavenly situation - a beach house for sale with all the right elements - is easy to find on Aquidneck Island. In fact, only a handful of homes have direct access to ocean beaches. 115 Purgatory Rd. is one of them located in a secret little enclave called The Land Trust Cottages. Six shingle style cottages stand proudly at the east end of Easton's (1st) Beach just across the Newport line.


For floorplans, pricing and more details click here


The Land Trust Cottages


The Land Trust Cottages were conceived by a group of Boston developers in 1887 and completed under the direction of EB Hall and Frederick Law Olmsted in 1889. Olmsted's site design resulted in optimal sunlight, space and amazing water views toward Cliff Walk and Easton's Point from each of the five original homes.


Established as an elite summer compound - think ladies with parasols and mustachioed men in striped swimming suits - the Land Trust Cottages are now as good as it gets when it comes to luxury beach homes.


&quot;Beach Cottage&quot; Today


115 Purgatory Rd. (a.k.a. Beach Cottage) has come a long way since its humble origins as a beach retreat. Now nearly 4,000 square feet, this shingle style stunner is a spectacular year-round residence with dramatic ocean views on three sides, five fireplaces, six bedrooms including a master suite with walk-in closet and master bath with fireplace, a beautiful stone patio with built-in grill and a bath house perfect for rinsing sandy kids and dogs and storing all your beach gear. There is a large separate guest suite above the 2 car garage and a big beautiful kitchen with large center island.


One more important note about beach homes for sale: Many RI waterfront homes sit squarely in the FEMA flood zone. That means extra risk and extra insurance.


Not this baby.


It's high and dry leaving more of your hard earned cash for beach toys, clam bakes and boating paraphernalia


115 Purgatory Rd. in Middletown, RI is a magical place to gather family and friends. It is offered for sale at $2,495,000. Come take a look and see for yourself. Your future memories will thank you.


For floorplans, pricing and more details click here



 ]]> </description>
    <pubDate>Mon, 08 Jun 2015 00:55:00 -0400</pubDate>
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