Landlords who've been pocketing extra cash by renting out their parking spots have until the end of this month to start complying with San Francisco's parking laws, which says they must give a cut of earned parking fees to the city.
That's money in the bank
Last year, the city created a parking tax simplification law meant to make it easier on landlords to rent out unused parking spaces. Under the law, owners who rent fewer than five monthly parking spaces and earn less than $15,000 a year from their side parking business can register for the city's tax simplification law, which says they only have to pay taxes owed from April 2011 onward.
Just like their customers, lot owners must pay to park (their business).More »