We finally have some clarity on the county's path for new rules surrounding short-term rentals. Thank goodness Summit County officials took a more reasonable approach than the Town of Breckenridge, who decided to effectively ban new STR's in all but a select few condominium buildings.  

The county's new rules are only applicable for un-incorporated Summit County. These rules apply to areas such as Wildernest, Summit Cove, Dillon Valley, Peak 7, and more. If you own property or are looking for property within any of the town limits these rules are NOT applicable. Other Summit County Towns such as Frisco and Dillon will likely be making changes to their own rental rules, so make sure to check my blog often for updates on that. 

 

Why the changes? Summit County has always been and will always be a resort destination. Second homes will always exist in Summit County. However, with the rising popularity of AirBNB and VRBO, many full time residents feel they are being priced out of living in the area. There are increasingly fewer long-term leases available to locals. Without a local workforce, businesses can't function or cater to our visitors. Personally, I believe all the above to be true but I'm not comfortable restricting owners property rights and I think there are better ways to solve the locals housing problem. 

Relatively, the new rules are reasonable. The county officials had to do something or else the radicals would have done...well, something radical. Below is a brief summary of the new rules. For the full ordinance click here.

The majority of second home owners will be able to rent their property a maximum of 135 nights per year. There is no restriction on what nights you can rent, so an owner could maximize profit by only renting during the highest revenue nights per year such as Christmas, New Years, and Fourth of July.

If your second home is in a resort overlay zone such as Keystone or Copper Mountain, there is no cap on nights.

Locals will be able to rent their primary home a maximum of 60 nights per year for a reduced license fee. 

If your property meets a strict set of criteria and goes thru a review process, you could obtain a Type III rental license allowing you additional occupancy or unlimited rental nights per year. Some of the guidelines for a Type III license are below. You can read all the guidelines on page 23 here. 

  • For Single Family Homes
    • A minimum distance of 100 feet from occupied areas (including hot tub or fire pit) of your property to the neighboring lots
    • OR the existence of an existence of an Accessory Dwelling Unit (ADU). An ADU is a great option if you have the space, this could be an apartment on top of a detached garage which you long-term rent to a local. This give you stable income and should qualify the primary home for a Type III license
  • For Multi-Family or Condominium Complexes
    • Only available in large condominium complexes with over 100 units. 
    • Significant on-site amenities as evidenced by at least 3 of the following: pool, hot tub, sauna, game room, tennis / pickle ball courts, or other significant amenities as approved by the Review Authority
    • Direct, private shuttle to a ski area or public transit within 100 feet of the property

 

If you'd like to find a property that would allow for a specific license type please reach out to me at TZimmerman@CBMP.com or call me at 303-907-9129. I have a list of all exempt buildings in Breckenridge or I can focus on properties that would be eligible for a Type III license.