Colorado short term rental market

[Frederick Wofford jr]

I’m looking to invest in a short term rental (air bnb) in the State of Colorado. Looking for advice & input on specific markets. Currently comparing Boulder vs. Denver vs. Estes park vs. Colorado Springs.

Anyone know which of these cities have the best earning potential, which attracts the most tourist. Pros & cons of investing in any of these areas?

Any information is appreciated.

[Ben Rhodin]

Hi @Frederick Wofford jr! I would mirror what @Tara Rose Iguidbashian said above. The city of Denver only allows STR in primary residences, and also they need to be licensed and permitted. You will want to keep an eye on most cities around Colorado as a lot of them have similar or pretty strict regulations. Boulder also requires licensing and permits for STR, and if it is run as a Vacation rental (rented for more than 60 days out of the year) it can be pretty tough! Estes Park has similar licensing laws and they will be property specific if they can be obtained or not, Colorado Springs is zoning specific as well.

However, if Denver is the market that you want to be in I would look into some of the surrounding cities, primarily Arvada, and Wheat Ridge are a good bet, both of these allow STR as investment properties (and Arvada doesn't require licensing). Littleton currently allows them as well, but they are in the process of possibly reversing that decision. I know a lot of clients and teammates that do well in these areas with STRs. You will get a lot of mixed visitors, from business travel to relocating, to tourists.

Happy to help out any other way! Otherwise good luck!