Short Term Rental License Information for Breckenridge and Summit County, CO Posted on October 19, 2023 - 2:53 pm by Stacy Sanchez How to Buy an Investment Property near Breckenridge Thanks for reading this Blog about buying a home near the Breckenridge Ski Resort, one of top vacation destinations for families and outdoor enthusiasts. Summit County has become a world famous location for its array of resorts, amenities and outdoor adventure opportunities. We’ve covered this the past few years, and here are a summary of those posts. However, most everything you’ll need is right here on this blog. Breckenridge Real Estate Blog – Market Opinion Winter 2023 Will the Breckenridge Real Estate Market Crash? How to Search for a Breckenridge Short Term Rental Investment Property 7 Reasons Why Now is the The Time To Buy Short Term Rentals in Breckenridge How to Buy a Property in Breckenridge, Colorado Short Term Rental Property Management in Breckenridge Breckenridge, Colorado Real Estate Market Opinion – Winter 2021 Breckenridge Real Estate Investment Analysis for 2020 This blog post is to summarize the current information needed to navigate the various rules and regulations that exist for owners that would like to rent their home. The short list of what’s needed to get an STR (Short Term Rental) license is the following: 1 – Determine your property’s jurisdiction This means that each property will have to adhere and follow the rules that apply to the jurisdiction that governs the property. For example, we are working with a client and their property falls outside of the town limits, and is therefore subject to the rules of Summit County (unincorporated) and not the town that it may be closest to. There are online tools that will help you determine this. 2 – Analyze your renting options While it’s important for some to be able to come and go as their schedule allows, for others, that may not be as important. What I mean is that some owners will choose a Long Term Rental (LTR) as an option for revenue. These owners should have longer absences between visits, which will allow for proper planning for LTRs that are 30 days or longer. Anything less than 30 is considered an STR. 3 – Apply for a license Ok, so after you’ve determined your location and know where you need to apply, then you’ll be ready to apply for the STR license, but ONLY AFTER you have closed on the property. Certain zones will have waitlists and you need to be sure that you’re ok with the area and the situation that is inherited with the purchase of the property. Researching the Different Regulations throughout Summit County The purpose of this post is help provide a comprehensive resource for those looking for a one stop shop for all the various municipalities and communities that affect your ability to obtain an STR license. Please take a look around on this page and if you can’t find what you’re looking for, then please contact us to learn how we can help explain or find an answer for you. We are here to help, as this information isn’t easily found and understood. That’s why I wrote this blog. The official STR page for the Summit County government is here: https://www.summitcountyco.gov/1221/Short-Term-Rentals Short Term Rental Business Planning If you’ve never owned and operated an STR as a business venture, then we have another resource in the works for you. We are putting together an STR Guide that will help owners navigate the various steps to becoming a successful business owner operator. We have run a retail business in town, and know some aspects of business that others might not have. We understand that not everyone is a business person, and we can help provide suggestions and solutions for that lack of experience. With the STR busijess, you’ll need to have a plan for a responsible agent, how to communicate and effectively manage guests needs and occupancy limits, licensing and sales tax reporting. Contact us for your free STR guide. Breckenridge STR License Availability, Current Lists and Waitlists Understanding the nuances of the town maps and how they zig zag around the mountains isn’t easy. We are here to help you if you need it. Most that are tech friendly can click around and find what they’re looking for. But, with properties, you may be looking at GIS and parcel maps that have different layers and can be confusing. Regardless, we will talk you through everything and will doublecheck listing status, STR revenue history and / or projections and can help determine which zone and if there’s a waitlist for the area that is being considered. https://www.townofbreckenridge.com/your-government/short-term-rentals/license-availability-current-lists-and-waitlists Summit County Short Term Rental Information The following information is taken directly from the website of the Summit Realtors. It’s a good start, but some of the information will need to be double checked that it is current and up to date. Source: Summit Realtors We Have Updated STR Information! Read below for Short-term Rental Information for Summit, Park, and Lake Counties as of April 10, 2023. *Clients are encouraged to do their own due diligence and contact the appropriate Town directly for information on a specific property. Blue River: Short-Term Rentals Allowed Information and Applications: Click Here. Contact: Michelle Eddy, Town Administrator970-547-0545michelle@townofblueriver.org Breckenridge – STR’s are Restricted General Policy:Breckenridge limits STR’s By Zones 1, 2, 3 & Resort. Availability of permits is linked to the right. General Info on STR policies, Licensing and Taxes/Fees: Click Here. STR Ordinances: Click Here. Additional STR Ordinances: Click Here. MAP of STR Areas: Click Here. Searchable GIS Map of Zones: Click Here. License Availability, Current Lists and Waitlists: Click Here. Contact: Bela Del Valle, Short-term Rental Code Enforcement970-547-3106Belad@townofbreckenridge.com Dillon- Short-Term Rentals Allowed General information & Licensing: Click Here. Lodging Tax Information: Click Here. Contact: str@townofdillon.com Frisco – Short-Term Rentals Restricted General Policy: Frisco has a maximum of 900 STR licenses. There is currently a waitlist. License Application & waitlist registration: Click Here. STR Guide & FAQ’s: Click Here. STR Ordinance: Click Here. Town Map: Click Here. Contact: Sarah Schwartz, Short-term Rental/Housing SpecialistSarahs@townoffrisco.gov970-668-2571 Keystone Keystone is currently transitioning from Unincorporated Summit County to its own Town. Currently licenses are unlimited. It is unknown what Keystone as a Town will implement for STR’s.Contact: N/A Montezuma – Rentals Not Allowed Under 180 Days STR ordinance: Click Here. Town Map: Click Here. Contact: Sandra Lerner, Town Clerktownclerkmontezuma@gmail.com Summit County (Unincorporated) – Short-Term Rentals Restricted General Policy: Unlimited STR Licenses in Copper Mountain, Keystone *, Tiger Run, and 4 O’Clock and Sawmill Subs in Breckenridge in the Resort Overlay Zone (ROZ). There is a cap on STR’s in all other Neighborhood residential Overlay Zones (NOZ) by Basin in the County. There are two types of Permits: Type I for locals and Type II for STR’s. Type I licenses are available. No new Type II Licenses are available in residential areas of unincorporated Summit County at this time and there is not a waitlist available. General Information & Links: Click Here. Current Caps & Available Permits: Click Here. Basin Locator: Click Here. Ordinance: Click Here. Accessory Apartment/ADU Regulations (At the bottom of the Page): Click Here. Contact: str@summitcountyco.gov970-668-4186 Silverthorne – Restricted with licenses available General Policy: Town of Silverthorne short-term rentals are capped at 10% of the number of units in the majority of Town neighborhoods, Area 1, and 50% of the number of units within the Town Core and Riverfront areas, Area 2. Short-term rentals are not allowed within deed restricted neighborhoods, Area 3. Permits are currently available in Areas 1 & 2. General Information: Click Here. Map of Zones: Click Here. List of Subdivisions by STR area: Click Here. STR Ordinance: Click Here. Contact: Mark Leidel, Community Development Managerstr@silverthorne.org *Unsure of what jurisdiction the property is in? To Find a Properties Town of Jurisdiction, search the County Property Data Search and enter the address: http://gis.summitcountyco.gov/map/ Park County (Unincorporated) General Policy: The County does not limit STR’s but requires licenses and other items as defined in the ordinance linked below. General information: Click Here. Ordinance: Click Here. Contact: str@parkco.us Alma General Policy: The maximum number of STR’s in Alma is 10. None are available at this time, but there is a waiting list. Municipal Code with STR requirements (pages 65-67): Click Here. Municipal Code with maximum of STR units: Click Here. Contact: Any town staff at 719-836-2712 Fairplay General policy: Short-term rental licenses are limited to 15 within the Town of Fairplay. *As of 4/15/23, 5 licenses are available. General Information and Available Permits: Click Here. Ordinance: Click Here. Contact: Janell Sciacca, Town Administrator719-836-2622 x-102 Lake County (Unincorporated) General Policy: Lake County is under a STR moratorium and will not allow any new STR permits for 2023. General Info: Click Here. Ordinance: Click Here. Contact: 719-486-2875 or buildingpermits@co.lake.us Leadville General Policy: STR’s limited to 12% (171 licenses) of residential properties in the City. There are 2 classes of licenses. Class 1 is for owner occupied units and Class 2 is for non-owner occupied units. Class 1 permits do not fall under the 12% maximum licenses. As of April 10th, the City is in the renewal period for licenses but currently is at the maximum 171 permits. They have a very short waitlist of 12 people. General info: Click Here. Ordinance: Click Here. Contact: cityclerk@leadville-co.gov *How to know if the property is in Leadville or Lake County jurisdiction:https://lccgis.maps.arcgis.com/apps/webappviewer/index.html?id=b5d103f931524e319cfc7888528119d6 Notice: JavaScript is required for this content.
How to Search for a Breckenridge Short Term Rental Investment Property Posted on July 21, 2022 - 3:40 pm by Stacy Sanchez 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.“ >>. CLICK HERE FOR LINK 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!
Breckenridge Real Estate Investment Analysis for 2020 Posted on November 14, 2020 - 3:50 pm by Stacy Sanchez Colorado Real Estate and Property Investing The purpose of this blog article is to provide a Breckenridge Real Estate Investment Analysis for 2020 for prospective owners of Summit County property. We get lots of calls from families around the country looking to purchase a condo, or even a single family home as part of their investment strategy in such a volatile time in the stock market. One thing that has proven successful is the valuation of high country homes and real estate. And, with the COVID-19 situation on hand, the demand has only sky rocketed. Summit County 2020 real estate sales surpass $1 billon as Realtors see record-breaking September A recent article in the Summit Daily News has listed September as a top-producing month for realtors in the Breckenridge area. This is not surprising as many people are able to remote work right now and are pursuing a mountain resort lifestyle, which they perceive to be beneficial to overall health and well being. As longtime locals, Dina and I are able to share our favorite local trails and outings with new home owners. We are also able to discuss the nuances and benefits of each town and neighborhood. We have lived in the area for close to 30 years and can give suggestions for properties that fit each client’s needs and desires. According to Land Title Guarantee Co., which compiles data from recorded deeds at the Summit County Clerk and Recorder’s office, September’s sales volume was up 87% from what was seen in the same month last year, and it’s far beyond every September since 2008. The September numbers are on top of what has been a crazy busy year for those in the real estate business. Total year-to-date sales have surpassed $1.3 billion Understanding Short Term Rentals in Breckenridge and Summit County Once the property is under contract is headed towards closing, we can guide clients to the proper authorities within each town for Short Term Rental (STR) guidelines. Each town has its own specific rules, although they are mostly similar. As it is technically a business accruing income revenue from guests, there is a business license required by the Town of Breckenridge (TOB). Click here to go to the page for STR’s within the TOB. And, another quirk around here is that the town limits are not clearly defined with linear straight lines. They zig zag around neighborhoods, some opting in to be considered with the town’s limits, while others that do not are then consider county and have to adhere to the county guidelines for STR’s. If all of this is confusing, I won’t deny, it can be. But, that’s where we come in to help answer questions as I (Stacy, Dina’s husband), have been a professional property manager for companies that manage HOA’s for condos, apartments and townhomes. I have also acted most recently as the Operations Manager for a vacation home rental company and oversaw 80+ large luxury homes in the Breckenridge area. With that background, I can speak from experience when discussing HOA responsibilities and possible scenarios that owners may have questions about. I may also pose situations that may not on the minds of clients, as they wouldn’t think of certain maintenance requirements and scheduling that are left to owners and which are left to the HOA. Responsible Party Addressing STR Guests in your Breckenridge Real Estate Investment One item that is important for both owners, neighbors and guests is that each unit must have a dedicated “Responsible Party” that can address emergencies. What this means is that someone must be made available, within one hour, to assist guests, neighbors or HOA with concerns of the staying guests. Some owners choose to do this themselves, while others opt to pay someone else to do it. Property Management Options and Pricing Tiers Owners looking to keep expenses down have the option to have much involvement, cutting down pricing to as low as 10%. Others want to be “hands off” and can expect to pay for that service, as much as 40-50%, in some instances. There are many property management companies in Summit County, as many as 50 or more and it can be hard to determine which direction to go with your Breckenridge Real Estate Investment. We know and understand that these properties are essentially run as a business and can discuss expenses and revenue strategies that will ultimately benefit the owner. Mountain Habitat on Facebook and Instagram We also post frequently on our social media pages, so click here to go to our Facebook page. We are fans of using Facebook to reach clients and to share pictures of the ski resorts, trails and even videos we create along the way around Colorado. We toured a lot of houses this past summer and one of the things I did was shot clips of the views of the decks. Most owners wanted mountain views from their porch, as work was a primary reason for purchasing the home and this was an easy way to enjoy the mountains. Check out this video below to see a sample from property tours. Click here to go to our Instagram profile. Instagram also has a section called IGTV with videos longer than one minute so go check those out if Instagram is your social feed of choice. Learning More about a Breckenridge Real Estate Investment Please contact us to learn more about Short Term Rental Opportunities in the Breckenridge and Summit County areas! In the meantime, read our previous blog about Fall Hiking and get excited about the mountain lifestyle. Notice: JavaScript is required for this content.