A lot of real estate investors are converting their long-term rentals to short-term rentals, and renting them on websites such as AirBNB and VRBO. Before making the switch, it's important to understand the tax implications. First off, localities (including the City of Grand  Junction) often charge lodging tax in addition to sales tax. They may also require a special permit be obtained. Check with the city your property is located in to learn about tax and licensing requirements. Additionally, if you provide significant personal services, such as daily cleaning, recreational, or information services to your tenants or guests, the income from the property might be considered self-employment income subject to the 15% self employment tax. Consult with your CPA before deciding to convert to a short-term rental to make sure you understand the costs and benefits of doing so.