Westminster STR Regulations UPDATE!!

[Kenny Smith]

BP Community! Westminster, CO STR update, hot off the press!

I have been in close conversation with the team that is proposing regulations for STR's here in Westminster for a few months now.

After speaking with the head of this STR reform this morning, here are the key takeaways..

1. The STR does NOT have to be owner occupied
2. Permit required, $200 fee for 2 years
3. This one hurts..only ONE STR per owner
4. They will NOT grandfather in any multi property owners
5. Not limiting the permits issued based off of percentage of community, etc (like wheat ridge does)

These plans are still not set in stone, but are very close. There will be the first and second readings in May or June to finalize this legislation by city council. 1/1/24 they will go into effect. It will be very interesting to see how folks will react to these changes and how this will affect the STR market here. 

As always, reach out if you have any questions on this..and leave a comment below on how YOU think this will change or evolve our local market.

Thanks for reading!