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Updated over 1 year ago,
How to work around strict STR laws?
I am a new STR host here in Englewood, CO! I currently house hack and rent out my basement. I know when looking for a property and familiarizing myself with Denver area laws, it seems that all STRs have to be the primary residence of the host.
How do people workaround that? Have people been successful in Denver or other markets in negotiating with the city to allow you to operate an STR that is not your primary residence? We will make probably $2-3k/month just renting the basement, but if I could keep this house after we move out and continue to STR we could make $4-5k/month. If we rented both the upstairs and downstairs separately, I think we could really cash flow at $7-8k/month.
I'd appreciate any insight! I'm looking to invest in another market within the next 6 or so months.