Initiative for South Lake Tahoe Vacancy Tax will be on November 5, 2024 Ballot 22 May 2024, 8:49 pm

Lake Valley Properties opposed to South Lake Tahoe Vacancy Tax ballot initiative

Last week a proposed local ballot initiative, specific to properties within the South Lake Tahoe city limits, achieved enough signatures to go to a vote in November: South Lake Tahoe Vacancy Tax to go on the ballot in November | South Lake Tahoe – SouthTahoeNow.com. Properties without proof of occupancy (long term renter or owner) for at least half of the year, would be subject to a tax of $3,000 in the first year, then $6,000 annually in ensuing years.

Lake Valley Properties is strongly opposed to this initiative for a number of reasons:

• The proposed initiative is a basic invasion of property rights, especially for those that own property in South Lake Tahoe and cannot vote here.
• The tax will impact values for all single family properties within the city limits. In 2021, short term rental rights were removed for properties in any neighborhood zoned as residential (Measure T). Now with the newly proposed Vacancy Tax, a property that already lost its use as a vacation rental would also trigger the tax if not used as prescribed by the ballot initiative –  severely impacting the use and value of private property for prospective buyers.
• There is no quantified solution for use of tax proceeds – signatures were gathered under the guise of affordable housing, but the funds would be subject to future city council discretion for an array of city expenses, including roads.
• Like many communities, the South Lake Tahoe area saw property sale and rent values increase dramatically after COVID-19. We have seen an influx of remote workers that impacts both home sales and rent levels – suddenly blaming the higher prices on second homeowners does not seem logical or productive for improving the cost of living for those working in the local economy.
• The city has taken steps in recent years to build new affordable housing. 248 units are currently under construction on Tata Lane – Sugar Pine Village. A market rate development is planned to break ground behind the Crossings shopping center. Lake Tahoe Community College has broken ground for 100 units of student housing. We need to see what effect these projects have on local housing needs, along with the typical economic cycles that impact property sales prices and rent levels – we are currently seeing prices and rent levels soften due to economic conditions beyond local control.
• Please don’t hesitate to contact us if you have questions, or would like to get involved: matt@lakevalleyproperties.com – (530) 544-7010.

Matt Lucksinger
Realtor
Lake Valley Properties Inc
CA  #01994459
NV #S.0201227
(Cell) 831-747-7734
(Office) 530-544-7010

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Fire Insurance in the Tahoe Basin 2 Mar 2024, 12:12 am

Are your home and property protected against wildfire ?

Like many areas in California, fire/homeowners insurance has become an increasingly significant cost driver for landlords and home buyers alike. In many cases, costs have quadrupled here in the Tahoe Basin over the last 5 years. We can’t control for the algorithms and business choices of the major insurance carriers, but there are a few things that can be done to help when the property is being considered for coverage specifically:

Defensible space and fire-wise communities

• Defensible space. Wildfires, including the Caldor fire that entered the South Tahoe area in 2021, have driven more resources and ordinances toward creating defensible space around properties and neighborhoods. The key elements of defensible space include routine cleanup of pine-needles around the property exterior, trimming of low and dead tree branches as well as some bushes like Juniper. Assembly Bill 38 was passed in California, and it integral to the vegetation management ordinance in El Dorado County, with the City of South Lake Tahoe soon to adopt something similar AB 38 Defensible Space Inspections – El Dorado County Fire Protection District
• Firewise communities. Some insurance companies will offer a discount for neighborhoods or groups of properties that are certified as “Firewise”. To learn more, please see Firewise Community (edcgov.us)

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Protecting your Investment 2 Mar 2024, 12:08 am

It can take considerable planning to care for the long-term value of your investment property while it is also serving as home to tenants. When prioritizing improvements, you may want to think outside-in – this approach can help mitigate costly damage while also keeping your property attractive for new tenants or sale.

• The roof. While modern composite roof materials are often designed for 30-50 years, it is rare to see a roof last more than 25-30 years here in the elements of the mountains. When the roof begins to leak, it can cause damage that tenants may or may not see, making it difficult to control for potential issues behind the walls.
• Paint/stain, therefore siding and decks. It is recommended to paint or stain the exterior routinely in order to get the most out of your siding and wood decks, which can be heavily impacted by precipitation in the winter and our mountain sun year-round. A popular recommendation is to paint/stain the exterior every five years.
• Carpets and interior paint. The standard wear and tear varies by tenant and property, we generally recommend these improvements every 5 years to maintain an attractive living space that attracts good tenants.
• Interior remodeling of kitchens and bathrooms. These improvements can make the biggest difference in a competitive rental or sales market, the old adage about choosing as neutral of material and color as possible holds true.

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How to Attract Quality Tenants – It’s a Team Effort 2 Mar 2024, 12:04 am

Landing the Perfect Match – How to Attract Quality Tenants to Your Property

Finding a good tenant can feel daunting – you want someone reliable, responsible, and who will take care of your property as if it were their own. However, attracting quality renters demands strategic charm and well-placed effort. Don’t worry, property owners, here’s the key to unlocking your rental haven to the ideal match:

1. Polish Your Property’s Profile

First Impressions Matter: Make your online listing sparkle! High-quality photos showcasing the property’s best features are essential. Highlight unique details like a cozy balcony or a spacious kitchen.

Honesty is the Best Policy: Don’t shy away from imperfections. Transparency builds trust and attracts tenants who appreciate a well-cared-for space.

2. Price it Right

Find the Sweet Spot: Striking the right price balance is crucial. Work with your property manager and research your local market to ensure your rent is competitive yet reflects the value you offer. Remember, pricing too high could chase away ideal candidates.  Trust your property manager’s expertise as they are immersed  in the market on a day to day basis.  Zillow “Zestimates” are far from accurate and superficially pull rent amounts from other listings that haven’t necessarily rented.

Thorough Screening is Key: Don’t let the charm offensive cloud your judgment. Your property manager should be completing a thorough screening process that checks credit history, references, and employment verification.   Even the “friend of a friend” tenant who wants to move in without an application – It’s worth the peace of mind to stick to your protocol and thoroughly investigate all applicants .

3. Build Lasting Relationships

Treat Your Tenants Well: Along with your property manager, address maintenance requests promptly and fairly. Be approachable and understanding, fostering a sense of mutual respect and trust. Remember, happy tenants stay longer, saving you the hassle of frequent turnover.
Finding the perfect tenant is a two-way street. By investing in your property, setting expectations clearly, trusting your property manager and building positive relationships, you’ll attract quality renters who appreciate your space and make your rental journey a smooth and rewarding experience.

Remember, with the right approach, your property won’t just be bricks and mortar – it’ll be a haven for responsible, respectful tenants who value your investment as much as you do. Happy renting.

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See through a different lens with Marcus Slack 7 Mar 2023, 11:19 pm

Thank you to Marcus Slack for all of his hard work capturing these beautiful moments in nature featured on our new LVP website. If you would like to reach Marcus for photography here’s his info. TY.
Marcus Slack
(775) 339-1160
slackm14@gmail.com
PO Box 10706
South Lake Tahoe, CA 96158

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Cool September Days 16 Feb 2023, 11:35 pm

The passing of Labor Day marked the end of the Tahoe summer and beginning of another great time – the Fall Shoulder Season! Some reasons to love this time of year in South Tahoe:
The aspens throughout the sierra are starting to change – don’t miss Hope Valley!
The annual Kokanee Salmon Festival and Oktoberfest, October 1 and 2 – what’s better than a couple steins of beer and a chilly morning 10k?
Rumors swirling about first snow: https://opensnow.com/dailysnow/tahoe
Lake water warmer than the air for those morning paddles and ski pulls!
40 degree day/night temperature swings – wardrobe test!
6am headlamp runs before getting kids to school.
The town has slowed down a bit, but real estate sales and rentals are still strong. Call us with any questions about selling, buying, or renting as we enjoy gorgeous fall weather!

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Property Management for Long Term Rentals 16 Feb 2023, 11:29 pm

Lake Valley Properties is accepting new long term rental management accounts to service owners who want peace of mind for their Lake Tahoe investment property! We offer quality service with cutting edge software to make things easier for owners and tenants alike. We take pride in our client relationships – some of them lasting 30+ years. We look forward to taking care of your Lake Tahoe investment property as if it were our own.

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