There is no question that a property with a Transient Vacation Rental (TVR) permit has more value, the question remains how much value? Is it 5%, 10%, 20% or more? In my opinion, it is next to priceless because the application window has closed and you can no longer acquire a TVR permit. A TVR is any rental of a housing unit for less than 180 days.
Documents Needed to Qualify For a TVR Permit
This was not an easy process, and for those that were successful, it was a huge win to have the option to legally vacation rent your property. There were several documents that needed to be provided to qualify:
- Proof of Transient Accommodation Tax and General Excise tax licenses
- Proof of payment of taxes
- Evidence of use of single family transient vacation rental
Listings That Have TVR Permits
You might want to consider purchasing a property with a TVR permit to complete a 1031 exchange for another income property you might have. It is possible to own a great home on beautiful Kauai and be able to visit the home each year with possible tax advantages (call your accountant).
Kauai north shore property for sale with a TVR permit (MLS# 255971)
Please call me to find out more about our listings on Kauai that have TVR permits and also the option of selling an income property you have and completing a 1031 exchange for an ocean view income property.
Ipo Hale Hanalei vacation rental (accommodates 6 people)
Hawaii Life has a very successful vacation rental management division. Call me today at 808-639-7600 to start the conversation of you owning a property here on Kauai.