Researching my next play which I feel should be short term rental

[Cherie Tormey]

Good Morning!

I am looking for a short term rental play in the Colorado area.  Targeting the front range:  Morrison, Bailey, Indian Hills.  I need data on where short term rentals are allowed.  I know Jeffco your property must be on an acre or more.  Would consider a partnership.

Thanks

Cherie Renee

[James Carlson]

Quote from @Cherie Tormey:

Good Morning!

I am looking for a short term rental play in the Colorado area.  Targeting the front range:  Morrison, Bailey, Indian Hills.  I need data on where short term rentals are allowed.  I know Jeffco your property must be on an acre or more.  Would consider a partnership.

Thanks

Cherie Renee

Youre asking the best first question. What are the Airbnb laws in Colorado. At the risk of tooting my own horn, make sure you work with someone who knows these laws, because it's changing all the time and there's a lot of vague informationout there. (For instance, Clear Creek county, just west of JeffCo, put a cap on STRs in December and Idaho Springs just passed a prohibition on STRs except in your primary residence.)

Morrison has one of the strictest STR laws in the Denver metro area. Itdoesn't allow Airbnb or short term rentals at all. Now, Morrison -- the city of -- is actually pretty small.

If you're right outside of that, then you're in Jefferson County. Jeff Co allows them, but their licensure process is cumbersome. I have a vacation rental investor client going through this right now. The property has to be on 1+ acre of land, and you have to go before the Board of Adjustors. They notify all adjoining neighbors, who get a chance to comment, and you have to present a plan for how you will handle noise and parking, etc. And it's not a guarantee that you get approved.

(Indian Hills is also in JeffCo. But again, because the footprint of the town is so small, most houses that have an Indian Hills postal address are actually in unincorporated Jeff Co.)

Bailey, as said above, is in Park County, which is -- for now -- totally open to STRs. BUT, they have a huge backlog of STR license applications, and my contacts out there tell me that a moratorium is likely in the near future. If you get in before, then you're totally fine.

You might consider Woodland Park area, like unincorporated Teller County -- Divide, Florissant area. We have STR clients having success there.

Does it have to be in the mountains? What about one of the few cities that allows Airbnb investments in the Denver metro? Arvada, just northwest of Denver, allows them. So does Wheat Ridge, just west of Denver. We've had several STR investors do well in those cities as well.

Whatever you choose, i wish you the best. Cheers!