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Archive for February, 2019

Featured New Sale Listing

Posted on: February 13th, 2019 by paul

LBI Real Estate New Listing

Listed at $889,900

Wonderful Family Home with 5 Bedrooms and 2 and 1/2 Baths.  Home has Outdoor shower, fenced yard and large two car detached garage. House is close to all that Surf City has to offer including beaches, bay, and parks.

Please click here for more information

NJ Sales Tax & Occupancy Tax

Posted on: February 11th, 2019 by admin

NJ Sales Tax & Occupancy Tax

In October of 2018, the State of New Jersey  passed a law charging sales tax on owner rentals, as well as on rentals made by certain rental companies such as Air BNB, Homeaway, VRBO, etc. According to the new law, owners will be charged a state sales of 5% & an occupancy tax of 6.625% for a total of 11.625% tax on those rentals. If rentals are made through a real estate office, the owner rentals are exempt from this tax.

We are offering to do owner rentals at 5%. This would include our office writing the lease, collecting deposits and paying owners. It is required by the State that all rental money has to go through our escrow account.

If we can assist you in your owner rentals, please let us know. If you have any questions please call and ask for Sharon or Paul. For more information on the tax please click on the link below.