Avalara MyLodgeTax Pro Simplifies Tax Compliance for Short-Term Rental Property Managers

Rhea-AI Summary

Avalara, Inc. (NYSE: AVLR) has launched Avalara MyLodgeTax Pro, a cloud-based SaaS solution aimed at streamlining tax compliance for short-term rental property managers. Designed for managers overseeing 5 to 40,000 properties, the tool automates the calculation of occupancy, sales, and use taxes, aiding in ensuring compliance and reducing audit risks. MyLodgeTax Pro allows property managers to focus on business growth while handling complex tax obligations efficiently. The offering is a response to the increasing professionalism of the short-term rental industry.

Positive

• Launch of MyLodgeTax Pro enhances tax compliance efficiency for property managers.
• Reduces audit risk and noncompliance through up-to-date tax content.
• Supports up to 40,000 properties, catering to a large market segment.
• Automates tax calculations and filings, freeing up management resources.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- Avalara, Inc. (NYSE: AVLR), a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced the launch of Avalara MyLodgeTax Pro, a SaaS solution that helps managers of multiple short-term rental properties increase efficiency and ensure compliance through automation. The new offering from Avalara streamlines the calculation of occupancy and sales and use taxes, completes and maintains tax-related lodging registrations/permits for clients, and automates end-to-end tax returns and remittance to applicable jurisdictions.

Growing your business requires streamlined compliance

MyLodgeTax Pro is designed specifically for professional property managers with 5–40,000 properties, who must navigate complex regulations to help mitigate compliance risk for their clients. As online marketplaces assume more responsibility for the remittance of certain taxes, MyLodgeTax Pro helps account for these agreements, reducing the risk of overpayment (or underpayment) of lodging taxes. The system eases headaches for property managers by improving efficiencies in managing client compliance obligations and allowing managers to focus less on compliance and more on revenue-driving activities.

“Property managers represent a large, growing segment of our customer base, in step with the increasing professionalism of the short-term rental industry,” said Oliver Hoare, general manager of Lodging at Avalara. “MyLodgeTax Pro is expressly designed for professionals overseeing all aspects of multiple property rentals, and we recognize that determining the correct taxes, filing reports, remitting taxes, and overseeing the various state and local licensing requirements detracts from core business goals. MyLodgeTax Pro lets property managers focus on driving more bookings and helping owners, rather than struggling with tax compliance.”

Address compulsory short-term rental compliance obligations with Avalara

MyLodgeTax Pro can help reduce the time and resources required to achieve tax and regulatory compliance, providing the following benefits to short-term rental property managers:

• Reduces audit risk exposure and noncompliance through up-to-date tax content
• Provides registration with state and local tax agencies based on property information provided
• Determines lodging tax rates based on the property’s address
• Helps prepare, file, and pay lodging taxes when due
• Facilitates comprehensive reporting to support internal or external audit requirements
• Provides support for tax agency correspondence and notifications management
• Includes ongoing support from industry experts for easy setup

For additional information on Avalara MyLodgeTax Pro, click here.

About Avalara

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Brazil, Europe, and India. More information at avalara.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220509005141/en/

Media Contact

Brian Austin

brian.austin@avalara.com

707-799-9838

Investor Contact

Jennifer Gianola

jennifer.gianola@avalara.com

650-499-9837

Source: Avalara, Inc.

FAQ

What is Avalara MyLodgeTax Pro?

Avalara MyLodgeTax Pro is a cloud-based SaaS solution designed to help short-term rental property managers automate tax compliance and reporting.

How does MyLodgeTax Pro benefit property managers?

MyLodgeTax Pro streamlines tax calculations, reduces audit risks, and allows property managers to focus on revenue-driving activities instead of compliance.

What kinds of taxes does MyLodgeTax Pro help manage?

The solution assists with the calculation and filing of occupancy and sales taxes, ensuring compliance with local regulations.

Who is the target market for MyLodgeTax Pro?

MyLodgeTax Pro targets professional property managers overseeing anywhere from 5 to 40,000 short-term rental properties.

What company launched MyLodgeTax Pro?

MyLodgeTax Pro was launched by Avalara, Inc. (NYSE: AVLR), a provider of tax compliance automation solutions.