Does your Long Term Rental Property In Bluffton need a Bluffton Business License?
- Miles Chandler
- Feb 17
- 3 min read
Its that time of the year again for renewal of your Bluffton Business license!
Which Long Term Rental Needs a Bluffton Business License?
Whether you are a new real estate investor or someone that has had a rental property in the Town of Bluffton. You are either needing to create a new Business License in the town of Bluffton, or renew your current Town of Bluffton Business License.
Figuring out if this applies to you and your property can be tricky as certain areas in Bluffton are considered Unincorporated Part of Beaufort County, where other areas are considered corporate Town Limits of Bluffton.
If you are in the Corporate Town Limits of Bluffton, you need to have a business license if you have a long term rental property. Below is the list of communities that this applies to:
After figuring out if this applies to you your next question may be what are the costs associated with a business license and how could you proceed to payment and retrieving the license.
We wrote a blog post regarding this last year, but we will reiterate to you what is needed below!
Application Process
Access the Online Portal: Visit the Town of Bluffton's business license application website at https://evolve-public.infovisionsoftware.com/bluffton/.
Begin Your Application: On the homepage, locate and click the "Apply for a Business License" button. This will initiate the application process for your rental property business license.
Create Your Account: You'll need to provide a valid email address to set up your account in the system. This email will be used for all communications regarding your Bluffton SC rental property business license, including renewal notices and updates about changing regulations.
Rental Information and Gross Rental Income: You will need to put in your rental address. After this, you must provide the gross rental income for the reporting year. This figure should include all rent collected before any expenses or deductions are taken out.
What are the Costs of a Business License in Bluffton
Understanding the financial implications of obtaining your Bluffton SC rental property business license is essential for proper budgeting and compliance. The Town of Bluffton has a specific fee structure for rental property business licenses that property owners need to understand.
Based on information directly from the Town of Bluffton, the business license fee follows a formula that includes a base fee and a rate applied to your gross income. Here's how the calculation works:
License Fee Formula:
Gross Rental Income - $2,000 (Base Fee Allowance) × 0.0019 (Rate per Thousand) + $50 (Base Renewal Fee) = Your Total Fee
This means that the first $2,000 of your rental income is exempt from the rate calculation, but you still pay the $50 base renewal fee regardless of income level.
Real-World Examples:
Let's look at some concrete examples provided by the Town of Bluffton to better understand how these fees work in practice:
Example 1: 2021 Gross Income → 2022 Renewal
* Gross income: $20,000
* Base Fee Allowance: $2,000
* Taxable income: $18,000
* Rate per Thousand (0.0019): $34.20
* Base Renewal Fee: $50.00
*TOTAL: $84.20**
Example 2: 2022 Gross Income → 2023 Renewal
* Gross income: $21,000
* Base Fee Allowance: $2,000
* Taxable income: $19,000
* Rate per Thousand (0.0019): $36.10
* Base Renewal Fee: $50.00
*TOTAL: $86.10**
Example 3: 2023 Gross Income → 2024 Renewal
* Gross income: $22,000
* Base Fee Allowance: $2,000
* Taxable income: $20,000
* Rate per Thousand (0.0019): $38.00
* Base Renewal Fee: $50.00
*TOTAL: $88.00**
Backfiling Requirements
An important note for property owners who have been renting without a license: The Town of Bluffton is requiring compliance going back three years plus the current year. Fortunately, they are "not assessing any late fees or penalties" during this compliance period.
Using the examples above, an owner who started renting in 2021 would need to pay:
* 2021 Initial License: $50.00
* 2022 Renewal: $84.20
* 2023 Renewal: $86.10
* 2024 Renewal: $88.00
*Total to become compliant: $308.30*
How Can We Help?
We understand that there are a lot of questions when it comes to all of the ins and outs of managing your rental properties in the Town of Bluffton. Should you ever need assistance or help Zenith Degree Property Management is here to help the local community with Owners and Tenants in understanding rental needs.
Contact us today to learn more about our Management Services!
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