The Short Term Debate.
Nighly rentals are a hotly discussed subject in most Colorado mountain towns. Indeed they effect many communities around the world, with ideas that they bring in additional tourism v the beliefs that they push local renters and buyers from the real estate market. We aren’t going to jump into that conversation at this time!
But if you do currently rent your home through Airbnb, VRBO, etc, or if you are looking to invest with the aim of doing nightly rentals, there are potential changes afoot. Just recently here in Steamboat Springs, changes to the planning codes relating to access requirements for single family homes and duplexes caused quite the flurry of interest and debate. Click here for further information relating to these changes.
And earlier this week the Denver Post discussed amendments to the way short term rental properties are taxed throughout Colorado. Proposed moves would potentially change homes which are not lived in by the owner and used as nightly rental investments, to being taxed as commercial property rather than residential property. Should this be the case, the bottom like is that this would be a significant increase in property taxes on these homes. There are other alternatives being disused as well as the implications that such blanket statewide changes would have on different communities. Click here for the full Denver Post article, it is an interesting read.
So whether you are for or against the wave of properties being used as nightly guest accommodations, get informed, get involved and if you feel the need, have a say. Because change is possibly on its way!