What to Know Before Using Your Property as an Airbnb, VRBO, or Other Short-Term Rental In Wisconsin:

1. Know Wisconsin State Law Governing Short-Term Rentals

In 2017, Wisconsin enacted a new short-term rental law to combat restrictions that municipalities and other local governments were placing on short-term rentals. The law defines short-term rentals as those for residential dwellings that are offered for rent for less than 30 consecutive days.[1] This law is codified as Wisconsin Statute 66.1014, and has been termed the “Right to Rent Law” as one of its main purposes is to prevent “political subdivisions” (defined as: cities, towns, villages, or counties – which will be referred to as “municipalities” in this blog) from prohibiting property owners from renting their residences for seven consecutive days or longer. Therefore, municipalities can place restrictions on rentals that are shorter than 7 days, so long as they do not conflict with State law. Municipalities may also place restrictions on rentals that are between 7 and 29 consecutive days, but these restrictions must still allow a short-term rental host to rent for at least 180 days a year. The Right to Rent law also requires anyone who rents their residence for more than 10 nights a year to purchase a touring rooming house license from the Department of Agriculture, Trade and Consumer Protection (DATCP). These licenses cost $110 per year and require a one-time inspection fee of $300.[2] The law allows municipalities to also require their own licenses, which must be purchased in addition to the DATCP license to lawfully conduct short-term rentals. The last state player in the short-term rental game is the Wisconsin Department of Revenue, which requires an owner of a short-term rental to report and pay Wisconsin state sales tax on rentals.[3] Websites like Airbnb and VRBO will collect and remit the sales tax for you.[4]^,[5]  These websites also collect other county and local taxes, if applicable. Essentially, the Right to Rent law sets the framework for what laws municipalities may enact. The law encourages municipalities to enact their own ordinances on short term rentals to limit nuisances and keep residents happy. Each municipality can choose its own registration and inspection requirements, fees, and other limitations. This is why it is extremely important to know your municipality’s short-term rental requirements.

2. Know Your County and Municipality’s Laws and Ordinances Governing Short-Term Rentals

Before going straight to renting your home, first consider whether your county has any restrictions. Walworth County has its own ordinance, which requires short-term rental owners to obtain a County License.[6] The County License has a $500 fee for the first year and a $200 annual renewal fee thereafter.[7]^,[8] Along with the County license, an owner must submit the property rules that apply to the rental, which have certain requirements of their own.[9] Keep in mind that Walworth County and the State of Wisconsin have additional requirements for short-term rentals that are serviced by a private septic system, serviced by a private well, and located on a lake. To ensure that all County requirements are met, be sure to read up on Walworth County’s Code of Ordinances and consult the County’s Land Use and Resource Management Department. Other municipal code regulations on short-term rentals that may apply include:

• Proof of property and liability insurance,
• Number of parking spaces that must be offered,
• Proof of floor plan specifications,
• Fire inspection,
• Business registration,
• Nuisance regulations,
• Quiet time hours,
• Local property manager requirements

3. Know Your Homeowner Association’s Restrictions on Short-Term Rentals

Something you may have noticed about the Right to Rent law is that the definition of “political subdivision” does not include a homeowner’s association. This means that associations can place complete restrictions on short-term rentals. The trend with associations within Walworth County seems to be placing a ban on short-term rentals altogether to stay consistent with the association’s goals and other rules. Banking on using a residence located within an association as a short-term rental is risky, as the association could vote to prohibit short-terms rentals in the future. If your residence is part of a homeowner’s association, you should make sure to read the association’s rules and bylaws. Another thing to look out for are associations that are currently inactive – the creation of a homeowner’s association should show up on the title work that is ordered when you purchase or sell a residence. An inactive association is still an association that can be brought back to life by its members, whether those members are composed of the owners of residences within a subdivision plat or a developer. If your residence is part of an association, this is the first place you should look to in determining whether a short-term rental is allowed.

4. Consider the Advantages and Disadvantages of Short-Term Renting

If you are considering using your property as a short-term rental, not only should you make sure that you are abiding by state law, local law, and any homeowner’s association restrictions, but you should also consider the advantages and disadvantages of short-term renting. Financially, short-term renting can not only brings in more income than a long-term rental, but also may allow rental owners to claim tax deduction benefits for things such as property maintenance, insurance, and utilities. Additionally, as a short-term renter, you can be flexible and choose to rent as much or as little as possible. While the financial freedom and flexibility that comes with short-term renting is quite enticing to those looking to begin their short-term rental journey, you should also be aware of some disadvantages. Unfortunately, short-term rentals can drive up housing prices. Also, as this blog has shown, the laws regarding short-term rentals can vary between municipalities, which means that if you have multiple rentals in different locations, you will have to keep track of each municipality’s rules to avoid potential expensive fees. A third downfall is the noise and nuisances that rental properties may create – noise violations, theft, and property damage to name a few. Lastly, be sure to check your homeowner’s insurance policy as some insurance carriers will not cover any damage that occurs at a property when the home is being used as a short term rental.

Conclusion

Wynn at Law, LLC assists clients who are looking to purchase property to be used as a short-term rental, clients selling short term rentals and clients who are purchasing property already used as one. Attorney Shannon Wynn or Attorney Ciara Doherty can help navigate buyers as to where to look to ensure a short-term rental is allowed, can review and explain title work that may have restrictions on short-term renting, and can help buyers feel empowered and informed throughout the entire process.

Schedule a consultation with Wynn at Law, LLC today to discuss the purchase or sale of short-term rented real estate.

Contact us today for a consultation at 262-725-0175 or our website’s contact page. Wynn at Law, LLC is based in Southern Wisconsin and has three office locations: Lake Geneva, Delavan, and Salem.

SOURCES: [1] Wis. Stat. 66.0615(dk)

[2] DATCP Home Tourist Rooming Houses (wi.gov)

[3] DOR Homeowners and Individuals Selling Short-Term Lodging (wi.gov)

[4] Collection and remittance of taxes and lodging taxes | Help (vrbo.com)

[5] Occupancy tax collection and remittance by Airbnb in Wisconsin – Airbnb Help Center

[6] Walworth County, Wisconsin Code of Ordinances. Chapter 26, Art. VII. ARTICLE VII. – OFFERING A RESIDENTIAL DWELLING AS A SHORT TERM RENTAL | Code of Ordinances | Walworth County, WI | Municode Library

[7] Wisconsin Division (walworth.wi.us)

[8] Wisconsin Division (walworth.wi.us)

[9] See Walworth County Code of Ordinances, Chapter 26, Art VII, Sec. 26-343.

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Attorney Shannon E. Wynn has been selected to the 2024 Wisconsin Super Lawyers list. Each year, no more than five percent of the lawyers in the state are selected by the research team at Super Lawyers to receive this honor. Super Lawyers, part of Thomson Reuters, is a rating service of outstanding lawyers from more than 70 practice areas who have attained a high degree of peer recognition and professional achievement. The annual selections are made using a patented multiphase process that includes a statewide survey of lawyers, an independent research evaluation of candidates and peer reviews by practice area. The result is a credible, comprehensive and diverse listing of exceptional attorneys.

Congratulations to Attorney Wynn!

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1. Consider how easy it would be to sell the home

The last thing on a first-time buyer’s mind is the sale of the home they are about to buy; however, this is a crucial consideration if you ever want to step up in the home-buying game. It is likely that the proceeds from the sale of your first home will be used to purchase your second home, and that your second home may contain a few more bedrooms, an extra bathroom, or other features that were not in the budget at the time of your first home purchase.

To ensure that you can reap enough of a profit to make the step up to a bigger and better second home, you should be paying attention to the market and considering whether your home will eventually sell for more than you purchased it for. To help keep your home value up, you should make sure that you allocate money from your yearly budget to keep up with the maintenance of the home. Part of this allocation should be for an emergency fund in the event that an expensive and unexpected repair arises. Other things to consider are the desirability of the location, its related school district, distance to shopping, how well the surrounding homes are maintained, etc.

2. Ask for a home inspection contingency

A great way to reduce your risk of inheriting an expensive repair with a home is to make your offer contingent on an inspection. If possible, try to attend your home inspection and ask the inspector questions – if the inspector notices something that needs to be repaired, they may be able to give you a rough fee estimate and other insightful information.

Know how this contingency works. To ensure you know your rights when it comes to a home inspection, you should hire a lawyer. A lawyer can advocate for your interests if the inspection report either makes you no longer want to purchase the property or makes you only want to purchase subject to certain conditions and repairs. A lawyer can also help you understand the type of inspections you may have, how many, when, and other deadlines that need to be met to preserve your rights under an inspection contingency.

3. Shop around for your mortgage

If you are financing your home with a mortgage, you should shop around or consider using a mortgage broker, who can shop around for you. Lenders will offer different interest rates, and the best way to ensure you are receiving the lowest rate is to call around or use a broker. You do not have to begin the underwriting process with each lender to obtain a rate estimate, rather you can call around and ask hypothetical questions such as what your rate would be with your current credit score, the amount you anticipate putting down, and by providing your debt-to-income ratio.

4. Understand your title insurance policy

A title insurance policy not only protects you against some issues that may later arise with ownership of the home, but also provides insight into any judgements, liens, mortgages, restrictions, and/or covenants that may encumber the property. Understanding these documents is important for a variety of reasons, but especially if you plan on building an addition, constructing a pool, a shed, or making any other significant property modification that requires a permit or understanding association rules if the property is in a subdivision.

It is not uncommon for unexpected things to show up on a title policy, which is why hiring an attorney to explain the title policy and review other title work, including your final closing statement, is a good idea.

5. Consider what each party has to gain from a transaction

Nearly every party you encounter who assists with the purchase of your home has an interest in ensuring that the sale goes through – your loan officer only receives their cut if the loan is approved, an agent only receives their commission if the home closes, and even the title company only makes out on their title fees if the sale is successful. The only party who does not have an interest in the sale going through is an attorney, as attorneys are not paid based on a successful closing, and an attorney’s only focus is to help you, whether that is to help you buy the property or help you in getting out of the purchase.

The excitement of purchasing a home can be overwhelming and emotional, which is why it is crucial to approach the process with a clear head. A disinterested party, such as a real estate attorney, can help you navigate the legal aspects of the home-buying process, avoid potential pitfalls, negotiate effectively, and ensure a smooth closing. Contact our attorneys at Wynn at Law, LLC for assistance with the purchase of your home – we can help you navigate the entire process from start to finish, whether you are represented by an agent or not.

Schedule a consultation with Wynn at Law, LLC today to discuss the home buying process

Contact Wynn at Law, LLC today for a consultation at 262-725-0175 or visit our website’s contact page. Wynn at Law, LLC is based in Southern Wisconsin and has offices conveniently located in Salem, Delavan, and Lake Geneva, Wisconsin.

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There is a common misconception that you can simply tell a trusted friend or family member that they are the person you would like to take care of your children in the event of your death. Unfortunately, a conversation like this is not enough to ensure that your wishes will be fulfilled. Rather, you should have your decision explicitly written in a legal document. Two options are a Will or a Revocable Trust.

Using a Will to Appoint a Guardian for Your Child in the Event of Your Death:

A. Biological versus Stepparents

Appointing a guardian to take care of your minor child in the event of your death is a smart way of ensuring that your wishes are clearly communicated. However, it must be noted that Wisconsin law presumes that biological parents are the natural guardians of their children. Thus, if you are in a subsequent marriage and would instead prefer that your spouse (your child’s stepparent) be selected as a guardian in the event of your death, you should state your reasons as to why you believe your child’s biological parent should not be guardian in addition to appointing your desired guardian. Some examples of reasons for non-appointment include substance abuse, lack of contact with the child, abuse, unsafe conditions, stability, etc.

When a Will with such guardian designations is admitted to probate, there is no certainty that the court will respect your wishes and name a stepparent rather than a biological parent as guardian. However, clearly spelling out your reasons will increase the chance of the court appointing your desired guardian.

B. Children 14 and older

Another thing to consider is the age of your child. Wisconsin statute §54.15 allows children who are 14 years or older to choose their own guardian and the court will approve the appointment so long as it is in the child’s best interest. Children 14 and older can also object to a guardian that is proposed by the court or in a Will, even if that guardian is a biological parent. The child’s objection is another factor the court must consider when naming a guardian.

C. The Personal Representative’s Job over Minors:

Every Will should name a person who may act as Personal Representative (also known as Executor) of the estate. The Personal Representative’s job is essentially to collect all assets, pay all debts and taxes, and then distribute the remainder to the beneficiaries of the Will. If one of the beneficiaries of a Will is a minor, then the Personal Representative will distribute the minor’s assets to the minor’s guardian, rather than directly to the minor.

Using a Trust to Appoint a Guardian for Your Child in the Event of Your Death:

A. Age limits in a Will versus a Trust

Trusts are often drafted in conjunction with a Pour-Over Will, which is used to transfer to the Trust any forgotten property that was not originally put in Trust. Thus, a parent can appoint a guardian in a Pour-Over Will just as he or she can do in a simple Will. However, in a simple Will, the child’s guardian will cease to act once the child reaches adulthood, resulting in the child officially taking possession of the assets left to him/her in a Will at age 18. Some parents cannot imagine their 18-year-old child responsibly using such assets.

As an alternative to a simple Will, parents can choose to draft a Trust with a provision requiring the child to reach a certain age of majority before taking possession of the assets. With a Trust, the Trustee will manage the property that your child is intended to inherit until your child reaches the age of majority. The age of majority is entirely up to the parent drafting the Trust; however, many Trusts set the age of majority at 25, 30 or 35 years old.

B. Trustee management of a child’s property

A person called a Trustee, which is selected by the Parent and named in the Trust, is in charge of managing your child’s inheritance until he/she reachs the age of majority and is required to distribute the inheritance as specified in the Trust. Typically, Trusts allow the Trustee to distribute a part of the inheritance to your child for their health, education, maintenance, and support. What constitutes health, education, maintenance, and support is typically up to the Trustee’s discretion. However, the parent or Grantor of the Trust may get more specific and narrow the distribution to the child, for instance, educational distributions can be limited to a specific field or specialty or study.

Conclusion

Choosing whether to provide for your minor child in the event of your death via a Will or with a Trust is a serious decision and often requires a complete overview of your assets and goals. Meeting with an estate planning attorney to determine which option is best for you is the first step in making sure your minor children are cared for in the future. Contact Wynn at Law, LLC today to set up an appointment with an estate planning attorney who can assist you in choosing which document to draft and make sure your wishes are carried out.

Schedule a Consultation with Wynn at Law, LLC to Assist with the Will or Trust Drafting Process

Contact Wynn at Law, LLC today for a consultation at 262-725-0175 or visit our website’s contact page. Wynn at Law, LLC is based in Southern Wisconsin and has offices conveniently located in Salem, Delavan, and Lake Geneva, Wisconsin.

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In 2019, a class action lawsuit was filed against the National Association of Realtors (NAR) and other national brokerage firms alleging that NAR’s rule (which required brokers to advertise on the Multiple Listing Service (MLS) that a seller would compensate the buyer’s agent) was a violation of antitrust laws and had artificially inflated agent commissions. A settlement in this case has been reached and went into effect on August 17, 2024. The settlement requires NAR and other brokerages to pay $418 million to eligible class members and prohibits advertisements on MLS of agent compensation. Now, MLS participants (buyer’s agents) must enter into a written agreement with the buyer/ potential buyer regarding agent compensation before touring the home.

How do I know if I am entitled to payment under the settlement?

The settlement website states that you an eligible class member who can file a claim for compensation if:

• You sold a home on MLS in Wisconsin between October 31, 2017 – July 23, 2024[1], and
• Paid a commission to a real estate agent/broker in connection with the sale.

Claims must be filed by May 9, 2025, by visiting the settlement website, www.realestatecommissionlitigation.com.

How does the NAR Settlement Affect Wisconsin?

The historical practice of sellers compensating buyer’s agents has been called into question in the wake of the media headlines associated with the lawsuit, which claim, among other things, that buyers may end up paying more. How buyer’s agency agreements will affect the real estate market is uncertain, but it may be comforting to know a few things:

• The standardized offer forms (WB forms) Wisconsin uses for real estate transactions have been recently updated to include a provision for seller compensation to the buyer’s agent.
• Buyers’ agency agreements can be flexible – the term of the agreement may be for just a few days, just for the showing, a flat fee, etc. Buyers should make sure to read the agency agreements, as they are likely to differ.
• The rules do not affect the rights of both buyers and sellers to negotiate. Rather, the new rules will likely make negotiations clearer and more transparent.

[1]  (realestatecommissionlitigation.com)

Contact us today for a consultation at 262-725-0175 or our website’s contact page. Wynn at Law, LLC is based in Southern Wisconsin and has three office locations: Lake Geneva, Delavan, and Salem.

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Intestate Succession:

When someone who lived in the state of Wisconsin dies without an estate plan, they are said to have died “intestate” and are thus entitled to the state’s laws of intestate succession. In other words, the state decides what to do with the decedent’s property. This is why consulting an estate planning attorney is important if you would like to have a say in where your assets go after you pass.

Intestate succession is often referred to as “probate” which also refers to the distribution of the decedent’s estate. However, intestate succession refers more specifically to the pattern of distribution of the decedent’s estate to their heirs and who qualifies as an heir.

There is a common misconception that the property of those who die without a Will goes entirely to the state. This is only true in rare circumstances; Wisconsin uses this as a last resort when the state cannot identify any of the decedent’s heirs or family members. Part of the reason why this is so rare is because the state can usually identify at least one heir – even if that person is a distant cousin the decedent never met. The next paragraph outlines how Wisconsin identifies which heirs inherit.

Who receives my property and in what order do they receive it, if I die without a Will?

The pattern of intestate succession in Wisconsin starts with spouses – if you die without a Will, but you are married, then your surviving spouse receives everything. This is true even if you die with both a surviving spouse and surviving minor children, as the state presumes that your surviving spouse will use the inherited assets for the benefit of the children. This could result in an unfortunate situation in which your surviving spouse does not share the estate with your surviving children, leaving your children with no inheritance and no legal remedy.

If you pass with no surviving spouse nor surviving children, then the State of Wisconsin looks up your family tree to find your next heirs, which are your parents and/or your siblings. However, if you pass with no surviving parents nor siblings, then your estate will be distributed to your surviving grandparents. The probate process will continue along your family tree until a relative, no matter how distinct is found. Finally, if the state cannot identify any of your family members, then your entire estate will “escheat” or “go to” to the State of Wisconsin and will be added to the Wisconsin’s school fund.

Throughout this entire pattern, there are quite a few nuances. For one, the “issue” (legal term for children) of your heirs can inherit a deceased heir’s share by “right of representation.” For example, if you pass with no surviving spouse, children, or parents, but you have a surviving brother and a deceased sister who has a surviving child (this would be your niece or nephew), then your niece/nephew can inherit your sister’s share by right of representation. In this scenario, your niece/nephew  would receive half your estate and your surviving brother would receive the other half of your estate.

Other nuances to consider include: children from a previous marriage, children who have been adopted by an heir, and many other family relationship questions. The unpredictability of the intestate succession process can result in the deceased’s assets going to a family member that the decedent has not spoken to in years or may have never even met.

What is included in the probate estate:

Another nuance to intestate succession regards what property is even included in the probate estate. Probate property is all property the decedent owned solely or as a tenant in common at the time of passing. Property owned jointly is not included in the probate estate because it transfers to the surviving joint owner. Non-probate property includes any of the decedent’s assets that have a payable on death or transfer on death designation, such as life insurance, retirement accounts or bank accounts.

How does the intestate succession process start?

For the intestate succession process to begin, someone must open a probate case. To do so, it must first be decided whether an informal or a formal probate will be opened. This is a legal decision that should be made with the assistance of an attorney as the decision can depend on numerous factors. Examples of factors to consider include the size of the estate, the number of claims or creditors against the estate, the ease of contacting interested parties, and the ease of determining who the heirs are.

Schedule a Consultation with Wynn at Law, LLC to Assist with the Probate Process

Contact Wynn at Law, LLC today for a consultation at 262-725-0175 or visit our website’s contact page. Wynn at Law, LLC is based in Southern Wisconsin and has offices conveniently located in Salem, Delavan, and Lake Geneva, Wisconsin.

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There are three types of wills about which you should give some thought. The Last Will and Testament is what most people know about and refer to generally as a “Will.” In addition to the Last Will and Testament, there is also a Living Will and a Pourover Will.

The Last Will and Testament

There are dozens of online templates that suggest you can do this yourself. The problem with that is simple: How many have you done? An experienced attorney will help you create a legally binding document that specifically suits your needs, expresses what your final wishes are, and is tailored to Wisconsin law. That’s so important, because the tool speaks for you after you pass on, directing how you want assets divided and appointing who will be in charge of acting on your estate’s behalf.

The Living Will

The Last Will and Testament becomes effective at your passing, while the Living Will speaks for you when you are unable to speak for yourself due to injury or illness. This document makes known your wishes regarding life prolonging medical treatments. This tool, also called an advanced directive, is every bit as important as the Last Will and Testament. However, a University of Pennsylvania Philadelphia study found that less than a third of adults have a Living Will.

The Pourover Will

We’re covering Trusts next in this series, but you should know that this particular tool can save the day for your loved ones. When you forget or neglect to add all property into your planning documents over the years– and people do forget to go back and revise their estate plan when circumstances change – this tool puts the forgotten property into a Trust. This tool got its name because any assets you failed to title into your trust prior to your passing will “pour over” into the trust after you are gone.

Stay up to date

You’re going to want to review all of these Wills and your wishes periodically, too, because ‘life happens.’ In the following two articles on the Estate Planning Toolbox, Wynn at Law, LLC, guides you through Trusts and Powers of Attorney.

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An easement on a property allows a landowner to grant access to a part of his or her property. You grant access without giving up ownership of that part of the property. It’s a binding agreement. Where we see this commonly throughout southeast Wisconsin is allowing access to a walking path, a driveway, a community pier, or a utility line crossing the property. Without an easement in place for access to such things, anyone attempting to access the path, pier, driveway or utility pole would be trespassing on the property. You can see the legal ramifications.

That means: Talk to your real estate attorney anytime the word comes up. Here are a few spots in which the topic may come up.

If you are buying a property

Two easement issues Wynn at Law, LLC sees frequently are easements for driveways and for lake rights or lake access. When there are disputes over the area of the easement, or the size or the situations for which the property can be used, it can sour a neighborhood. Nobody wants to be ‘that neighbor,’ especially when you’re new to the neighborhood. By the way, if a lender is involved, the lender may take issues with driveway easements. Driveway easements require you to have legal access to your property. Imagine the difficulty clearing up the easement specifics after the closing.

If you are selling a property

When you know of an easement exists, you should disclose that to potential buyers on the real estate condition report. If you do not have a written easement in place or it is not recorded with the Register of Deeds Office, Wynn at Law, LLC can assist you in drafting and recording the easement.

Your relationship with your neighbors is the important aspect of easements. It is important to have a lawyer review easements on your property because it is your property.

Image by Anna Koldunova, used with permission.

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Title insurance protects the buyer and the mortgage lender in the event a future problem is found with the title. Having an experienced Wisconsin real estate attorney on board early reduces the possibility that a problem will be found later. An experienced Wisconsin real estate attorney explains the title commitment to you. Most importantly, the attorney makes sure you understand liens, easements, and deed restrictions which remain on your property after purchasing.

Forgery, Fraud, and Heirs, oh my

Title insurance insures the piece of property with regard to claims, rights, and liens against the home or property being purchased. These claims sometimes include fraudulent titles, forged signatures, undisclosed heirs to the property, or spousal claims from ex’s. When a home is in a subdivision or is a condominium, the title insurance lists all the restrictions and covenants (rules) of the subdivision or condominium.

When Wynn at Law, LLC reviews the title, we will consult with our clients so they are aware of any title issues. The insurance, by the way, is optional if the buyer isn’t financing the purchase. A policy covering the mortgager is required by every lender when a home or second home is mortgaged or refinanced.

Three take-homes from this article:

First, from a buyer’s perspective, a buyer’s or owner’s title insurance policy is recommended even if there’s no lender involved. It is worth the relatively low cost in our experience and, customarily, the seller pays for the policy. It’s peace of mind.

Second, as the first article pointed out, when Wynn at Law, LLC is involved, our title review with the client is thorough. That doesn’t eliminate the need (or requirement) for title insurance. A mortgage company is going to protect itself. More importantly, the owner’s title insurance is like the shell on an egg – many people consider the purchase of their primary home and a vacation property as the nest egg worth protecting.

Third, the real estate attorney is not the insurer and has no role in issuing the policy or recommending a carrier. The title company or the mortgager does that. Wynn at Law, LLC does review the insurer’s title commitment with you.

Image by Aleksandar Stojanov, used with permission

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