I think this is a solid move overall by the city to help weed out the bad hosts and improve guest safety.

*This is not a solicitation, just a business status.

Luckily, I hosted a local guest who happened to be a real estate lawyer!

However, there are some challenges to keep in mind:Regulatory Variations: Regulations can vary widely between locations and are constantly evolving.Active Management: STRs require more hands-on management for guest turnover and communication.Additional Costs: Don’t forget about expenses for furnishings, cleaning, and possibly hiring a property manager.If you’re looking for STR-friendly areas, consider these locations, as others can be too expensive to consider, such as Snowmass Village or Aspen:Breckenridge: The most visited ski resort in North America, attracting around 3 million tourists each year.Steamboat Springs: A popular year-round destination for winter sports and summer activities.Keystone: Great for those wanting a less crowded resort experience.Divide & Florissant: Charming mountain towns close to Colorado Springs.Fairplay: Just 30 minutes south of Breckenridge, with an impressive 82% Airbnb occupancy rate.Cripple Creek: A former mining town now known for casinos and outdoor activities.Park County: Very Airbnb-friendly, though regulations may change.Here are some strategies to help you succeed in the STR market:Hybrid Model: Consider using some units for STRs and others for long-term rentals to balance income.Research Local Regulations: Always check the current rules in your target areas before investing.Year-Round Appeal: Focus on locations that attract visitors in all seasons.Quality Furnishings: Invest in quality to justify higher nightly rates and attract better guests.Dynamic Pricing: Use pricing strategies to maximize revenue during peak seasons while maintaining occupancy in the off-season.Stay Flexible: Be ready to adapt your strategy as the market and regulations change.While Colorado’s STR market offers exciting opportunities, it’s essential to approach it strategically.

There is a guru course that is pitching them on buying real estate so they can change their tax status to real estate professionals

Reviews are a significant asset, and losing them can hurt future bookings.If a PM needs access to manage bookings, update pricing, or handle guest communication, they can still do so without owning the listing.

If you have the long term rental data and the short term rental data. you will have a very good guest of the MTR pricing.

I do them and I enjoy creating a great experience for the guests and the receiving more income for my property.

The neighbor demands that we always padlock the main gate and she would change the codes so frequently, and it’s been a nightmare for some guests & us.

Properties meeting at least one of the following criteria will not be eligible for Citizens Personal Residential Multiperil coverage:Rented to guests more than three times in a calendar year for periods of less than 30 days or one calendar month, whichever is lessAdvertised or held out to the public as a place regularly rented to guests