How to Search for a Breckenridge Short Term Rental Investment Property
This blog is about How to Search for a Breckenridge Short Term Rental Investment Property as it’s become a confusing subject over the last year with many talks and discussions happening in the community. Now, for clarification, this is ONLY for the properties that lie within the Town of Breckenridge town limits and does NOT apply to unincorporated Breckenridge, or any other towns.
I’ve already written a comprehensive blog that provides links to the other municipalities in around the Summit County, Colorado area including Blue River, Copper Mountain, Dillon, Frisco, Keystone and Silverthorne. We work with buyers who are researching numerous areas asn an investment possibility, so I even included nearby areas such as Park and Eagle County towns like Alma, Fairply, Vail and Beaver Creek. It’s also a good idea to look into the Denver area as a comparison, so you can find that information on that blog also. You can CLICK HERE TO READ and find those links.
>> https://mountainhabitat.co/short-term-rentals-in-breckenridge
Town of Breckenridge Overlay Zones
The Town of Breck just posted a PDF and searchable map on their Facebook page (July 21, 2022) that shows the most current information about where STRs (Short Term Rental) are allowed, and what zone they would fall under.
“We have a new Proposed Short-Term Rental Zoning and Regulations page on our website! On the site you will find the proposed STR cap numbers, a searchable GIS map of Proposed Tourism Overlay Zones, and background information on the ordinance. Council will be reviewing this new ordinance later this summer. Use this link to get the most up to date information on the proposed STR zoning and regulation.“
If for some reason the link isn’t working, I’m going to provide the information below. I’ve copied the text below just to have it all on this page for easy reference and convenience.
Proposed Short Term Rental Zoning and Regulations
In the fall of 2021, the Breckenridge Town Council passed an ordinance that would cap the number of short-term rental licenses at a total of 2,200 (not including condo/hotel properties currently considered “exempt”). After implementation of the short-term rental license cap, the Town Council heard the public concern that a blanket cap was insufficient because certain areas of Town are better suited for short-term rentals. The Town Council responded by creating the Tourism Overlay District Task Force. The Task Force was formed to identify areas of Town where additional short-term rental licensing may occur. The Task Force was comprised of members of the public from several sectors, including property management, real estate, short-term rental license exempt properties, at-large citizens, and representatives from Town Council and Planning Commission. The Task Force met six times between November 2021 and February 2022.
In April 2022, the Task Force’s recommendation of a three zone approach to short-term rental licensing and a recommended map were presented to Town Council. The three zones can be described as a Tourism Zone (Zone 1), the downtown core (Zone 2), and single family residential areas (Zone 3). A consensus on the exact number of short-term licenses that would be allowed within each zone was not reached by the Task Force; however, they anticipated the zones working so that the number of short-term licenses within Zone 1 would remain the same or possibly increase, the number of short-term licenses within Zone 2 would remain the same or slightly decrease, and the number of short-term licenses in Zone 3 would significantly decrease.
The Town Council then held six work sessions regarding the short-term rental zones between April and July 2022. They took the Task Force recommendation and modified the three zone approach so that the zones more closely align with the Town’s established Land Use Districts. On July 12, the Town Council came to an agreement on the following: a new “Resort Properties” definition to replace “exempt” status, the boundaries of the three zones, and proposed cap numbers for each of the zones. The proposed zones and cap numbers represent a compromise to allow for more short-term rental licenses in areas of Town best suited for tourism while staying beneath the overall cap number of 2,200 in Zones 1-3. The table below shows the number of existing short-term rental licenses and the proposed allowed short-term rental licenses within each zone. The proposed zones and updates to the existing ordinance will be presented for adoption at an upcoming Town Council meeting and are subject to change.
The Town Council Proposed Tourism Overlay Zones map pdf shows the three proposed short-term rental licensing zones agreed to by the Town Council.
A searchable GIS map of the Proposed Tourism Overlay Zones is available here. You can determine a specific property’s zone by searching for the address, subdivision, or schedule number of the property.
The proposed license caps do not affect existing short-term rental licenses in any zone. If you currently hold a short-term rental license you will be able to continue to rent your property as normal. Licenses are only relinquished through property sales, since they are non-transferable, or owner non-renewal. As properties are sold or as property owners decide not to renew short term rental licenses, the total number of licenses are anticipated to decrease within Zones 2 and 3, with the goal of eventually meeting the targeted cap numbers. Each zone will be handled separately in terms of license caps and availability of future licenses. The Town Council has to take official action and pass these ordinance revisions before these new laws would take place 35 days after a second reading.
Additional information regarding short-term rental licenses and FAQs.
Fee revenue generated by short-term rentals will not be included in the Town’s general operating budget. Instead a Regulatory Fee Fund will be established and funds will be used to support the Town’s workforce housing policies and programs, including buy downs, lease-to-locals, acquisition of deed restricted units, and/or construction of new units. For more information on the Town’s housing initiatives please visit the Town’s housing website https://www.townofbreckhousing.com/.
For additional information on the short-term rental zones, contact Sarah Crump, Planner I, at sarahc@townofbreckenridge.com.
How to Search for a Breckenridge Short Term Rental Investment Property
We hope this post was helpful and if you have any questions or need assistance searching, evaluating and negotiating the purchase of a new Breckenridge Short Term Rental Investment Property, the STR rules and relevant regulations, and whatever else could come up. Contact us today or fill out the form below to select the most important needs and wants for your dream home in Breckenridge. Once you have it, you can then enjoy and share it with others that value a high quality family experience in Summit County, Colorado. Real Estate and Property Services. Thanks for reading!
