The Breckenridge Town Council heard public comment until late into the night at their September 14th meeting. In the end, the council voted unanimously to move forward with the proposed short term rental cap. The meeting was recorded so if you missed it or, like me, went to bed before it ended, you can watch the meeting here.
Some fears the short term rental cap creates
This is a long meeting but there are a lot of really good public comments. They give some insight to the variety of situations people are in and how this change to short term rental caps will impact them. The fears range from property values going down to the property heirs being forced to sell when there’s no more income coming from the property. Concerns were brought up regarding 1031 Exchanges and many more homes sitting vacant the majority of the year. Economic impacts to the town and businesses and the lack of connection between short term rentals and solving the problem with local housing were also brought up.
It appears that no matter the fears, town council is moving forward. There is another review at the next meeting on September 28th. If it passes without change, it could go into effect November 2nd.
We’ll continue to follow the developments in Breckenridge and throughout the county regarding short term rental caps.
See what’s happening with unincorporated Summit County’s short term rental license moratorium.