Denver, CO short term rental market

[Damian Cummings]

Hello, I am selling my primary residence in Portland, ME and am looking to buy a house in Denver, CO. My plan is to live in this house for about a year before turning it into a short term rental and buying another primary residence. I have a couple of questions... Are short term rentals a good idea in Denver? What areas of Denver should I stay away from? 

Does anyone have a nice single family or potentially a condo in the greater Denver area for < $450,000 that could also work for STR purposes?

Thanks!

[Kevin Smith]

@Damian Cummings

Take a look at Arvada, Littleton, and Wheat Ridge. Those are the municipalities in the Denver area that don't have the primary residence rule. Of those, Wheat Ridge would be my preference due to its proximity to downtown Denver and Highland. They are capping the number of STR licenses they're issuing though, so you'd probably want to move on that sooner rather than later. In Arvada or Littleton, I would look for something close to their downtowns and lightrail stations.

As far as condos, most HOAs I've come across in the area don't allow nightly rentals.