Area Real Estate News & Market Trends

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Sept. 19, 2021

Breckenridge passes short-term rental cap on 1st reading

Breckenridge Passes Short-Term Rental Cap

 

Those who spoke at public comment overwhelmingly opposed the move

The Breckenridge Town Council voted unanimously on first reading to pass an ordinance capping the number of nonexempt short-term rental licenses at 2,200, following nearly five hours of public comment overwhelmingly against the move.

The town also   ... click here to read more

Posted in Short Term Rentals
Sept. 16, 2021

Changes to Short-Term Rental Permits - Breckenridge, Colorado

Summit County Fall Colorado

NEW Short-Term-Rental Permit Rulings

(09-16-21: I will update this as things develop)

What You Need To Know:    

Town of Breckenridge

First reading of the draft ordinance was approved 9/15/21. The second reading and final vote is Tuesday, September 28th.

  • The town approved a cap of 2200 permits. There are currently 2495 and over 300 additional were applied for in the past two weeks.
  • Council reasoning: degradation of community character, although affordable housing and limiting tourism have both been mentioned by Council members.)
  • The ordinance does not apply to units/complexes with front desks, security systems, and a central phone system.
  • Permits will be reduced through attrition as properties are sold or owners permits expire. New permits will be issued through a wait list system.
  • A temporary six-month STR permit will be issued to new property owners to allow them the ability to honor reservations that existed on the date the property transferred and the permit was lost. Details will be established in the administrative regulations.
  • The effective date will be 35 days from the second reading and final ratification of the ordinance.

Summit County

The County passed an emergency ordinance to put a twelve-week (90-day) moratorium on new short- term rental license applications. The purpose of the moratorium is to allow staff time to get caught up on processing permit applications.

  • The moratorium goes into effect Friday, September 17th at 11:59 PM.
  • Properties in Keystone, Copper Mountain, and in the 4 o’clock Subdivision and Skiwatch in Breckenridge are exempt from this moratorium and may continue to apply for permits as normal.
  • Property owners can apply for permits throughout the regular process through Friday.
  • Properties under contract should submit a letter as we outlined last week with the new permit application through Friday by submitting it to str@summitcountyco.gov
  • During the moratorium, properties under contract and properties that are under construction may apply for a special exception prior to applying for the permit.

·         During the moratorium, the County plans empirical data research and will work to find creative incentives for property owners to convert their properties to long-term rentals in “locals zones”. These zones include:

  *   Dillon Valley

 *   French Creek

  *   Woodmoor

  *   Wildernest

  *   Frisco Terrace/Evergreen

  *   Lake View Meadows

  *   Mesa Cortina

  *   Summit Cove

  *   Alpine Breck

  *   Quandary Village

  *   Peak 7

 

More information on the process and mapping of Keystone and Copper can be found here: https://www.summitcountyco.gov/1452/STR-Moratorium

Posted in Short Term Rentals
July 31, 2017

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Posted in Market Updates