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Short Term Rental FAQs for Lexington-Fayette, Kentucky.

How restricted are short term rentals in Lexington-Fayette?

Light Restrictions

Does Lexington-Fayette,Kentucky have any regulations for short term rentals?

Obtain license, remit taxes

Does Airbnb automatically remit taxes for short term rentals in Lexington-Fayette?

Currently, Airbnb is collecting and remitting taxes on behalf of the host.

What are the city taxes for Lexington-Fayette

Kentucky State FAQs

Is Kentucky a judicial or non-judicial state?


In a judicial foreclosure state, the lender must go through the court system in order to foreclose on a property. This process can be longer and more expensive for the lender compared to a non-judicial foreclosure.

As a real estate investor, it is important to understand the differences between judicial and non-judicial states because it can affect the amount of time and money it takes to foreclose on a property. It can also impact the availability of properties that are being foreclosed on and the process of purchasing those properties.

What is the process of closing on a property in Kentucky?

Attorneys conduct closings. Conveyance is by grant deed or by bargain-and-sale deed. Deeds must show the name of the preparer, the amount of the total transaction, and the recording reference by which the grantor obtained title. Mortgages are the principal security instruments because deeds of trust offer no power-of-sale advantages. Enforcement of any security instrument requires a decree in equity, a judicial foreclosure proceeding. Kentuckians use ALTA policies and endorsements. Sellers pay closing costs; buyers pay recording fees. Responsibility for payment of title insurance premiums varies according to locale. Property taxes are payable on an annual basis; due dates vary from county to county.

Property Taxes in Kentucky?

Due annually and vary by county.

In Kentucky, does a property management company require a real estate broker's license?

YES. Property management is expressly considered a real estate brokerage act requiring a real estate broker's license. Property management is defined as: the overall management of real property for others for a fee, compensation, or other valuable consideration, and may include the marketing of property, the leasing of property, collecting rental payments on the property, payment of notes, mortgages, and other debts on the property, coordinating maintenance for the property, remitting funds and accounting statements to the owner, and other activities that the commission may determine by administrative regulation.

Are there any exceptions to the requirement that a property manager have a broker's license in Kentucky?

Yes. For example, a person engaged in property management does not need to be licensed if they are a regular employee of the owner or principal broker of the company engaged in property management. In addition, a real estate broker's license is not required if the person engaged in property management receives as his or her primary compensation the use of a rental unit. For more information about these and other Kentucky property management requirements and exceptions, please contact the Kentucky Real Estate Commission. Before hiring a property manager to manage your Kentucky rental property, you should always check that he or she is licensed appropriately. You can check the license status of Kentucky property managers and the Kentucky Real Estate Commission's Public Database Search.

Do you need a broker's license to manage community associations in Kentucky?

NO. A broker's license is not required to manage community associations or condo associations in Kentucky.

Real Estate Broker Requirements

Kentucky real estate broker licensing requirements include: - Age: must be at least 18 years of age - Experience: must have been actively engaged in the real estate business as a licensed sales associate for a period averaging at least 20 hours per week for a two year period. - High School: must have a high school diploma or equivalent. - Education: must have completed 21 credit hours or equivalent in specified courses at an approved school. - Exam: Pass broker's exam. Fee is $100. - Trustworthiness: submit to a criminal background check

Real Estate Salesperson Requirements

Kentucky real estate salesperson licensing requirements include: - Age: must be at least 18 years of age - High School: must have high school diploma or equivalent. - Education: must have completed 6 credit hours or equivalent in specified courses at an approved school. - Exam: Pass salesperson's exam. Fee is $100. - Trustworthiness: submit to a criminal background check All active Kentucky real estate licensees are required to carry errors and omissions insurance as a condition of licensure.

How do property ownership transfers work in ?

Grant deed or Bargain-and-Sale deed.

Sustainability Resources

The Real Estate industry is one of the most environmentally damaging industries in the world accounting for:
of total carbon dioxide
of all energy
of all raw materials
Our goal is to give you the resources you need to take sustainable action in improving, building, retrofitting and revamping your home. The impacts are real, the benefits significant, and the need critical. Join us in bringing sustainability home and creating a brighter future for all, starting with you.

Save money and do the world a favor!
Here's a list of Sustainability Initiatives in the area:

National Farmers Market Directory

This is a National Farmers Market Search Tool. Use this link to find farmers markets near you or find one while traveling!

37 DIY Rainwater Harvesting Systems

DYI Rainwater Harvesting System set up ideas and instructions.

Paint Drop-Off Locations - PaintCare Inc.

PaintCare makes it easy to recycle leftover, unwanted paint. PaintCare operatespaint stewardship programs on behalf of paint manufacturers in states that have passed paint stewardship laws.