The Frisco town council has decided to limit the number of properties that can be short term rentals within the town limits of Frisco, CO. Review and potential approval of the new short term rental cap in Frisco will happen at the end of September and likely implement immediately afterwards.
Short term rental cap
At the August meeting, The Frisco Town Council decided a cap on short term rental licenses was the right course of action. A percentage versus a specific number was determined to be the right way to go so it would increase as new properties were built. I am not clear on how they landed on a specific percentage, it is possible that they just wanted it to be close to the number of short term rental licenses currently issued. But, for whatever reason, they decided on 22%. Once the cap has been reached, no new short term rental licenses will be approved with one exception. However, as new development occurs or when someone with a license sells their home, new licenses may be available.
Full time resident exemption
Short term rental licenses for primary residents would not be subject to the cap or included in the percentage calculations. If your Frisco home is your primary residence, you could get a short term rental license as long as you meet any other requirements.
Voting on the short term rental cap ordinance
The new ordinance implementing the short term rental cap and spelling out the details will have its first reading at the September 13 council meeting. The second reading would be on September 27th. If it passes, it would likely go into effect right away.
Voice your opinion
If you have an opinion about the new short term rental cap in Frisco, let town council know. Meetings are often available to attend via Zoom if you are not in town. Read the agenda before sitting through the meeting. They may not have an opportunity for public comment. It is important for local governments to hear from the people their new regulations will be impacting.
Short term rental rules
The rules for each town are different. They are currently evolving and it is unclear where they will end up. It is important to know how these rules may impact you as you buy or sell your Summit County properties. We have written several blogs attempting to keep up with the changes. You can also contact us to get the current status in the area you are interested in.
Due to a lawsuit filed in another area, the town of Frisco tabled the first reading of the ordinance. They changed the locals being exempt from the cap and are raising the cap to 25% instead of 22%. They will have the first reading at their meeting 9/27 and if all goes as planned, the second reading and activation will happen on October 11th