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Short Term Rentals are Changing

Breckenridge recently updated its rental regulations adding requirements for owners of short term rental properties. Since then, every town and the county are following suit, discussing and initiating their own regulations. All across Summit County, short term rentals are changing. Rentals are an important part of ownership in Summit County. These changes may have a significant impact for all homeowners.

New Breckenridge Regulations

At the end of August, Breckenridge enacted new short term rental regulations. The new regulations add an administrative fee and managing agent requirements. The new administrative fee is an annual fee of up to $150 depending on the size of the rental unit. That fee is waived if the condo has a twenty four hour front desk, phone system or security company. Basically, if someone else is there to handle issues, the town won’t need to and, therefore, no administrative fee is necessary.

A managing agent is also required. An owner chooses a managing agent that will respond if there are any issues with their renters. That person must be available 24 hours a day, 7 days a week and handle issues that arise within 60 minutes of notification.

There are several other rules that owners must follow. If they aren’t, the owner is subject to a misdemeanor charge and can have their license revoked. Without a license, short term rental activities would not be allowed. Read all the new Breckenridge regulations.

Silverthorne’s Pending Regulations

Renters not allowed
Are short term renters still welcome?

Silverthorne just unanimously passed even stricter rules. The rules could become official at the next council meeting on October 24th. Silverthorne’s rules are similar except they require a 30 minute response time during the overnight hours, and 60 minutes during the day. They are also limiting occupancy of those rentals. Silverthorne allows two people per bedroom plus two additional to stay in any property. The bedroom count used to calculate occupancy comes from tax records. That means lofts, offices or dens, or larger rooms used as bunk rooms may no longer count as bedrooms when determining allowed occupancy. Read the Summit Daily article about Silverthorne’s rental changes.

More Changes Coming

Dillon, Summit County and Frisco are discussing this issue too. Short term rentals are changing. Now is the time to get involved. More regulations are coming, and coming soon.

Possible Impacts

This seems like a win for full time residents that are unhappy with a neighboring rental property. This means they can make a call when there’s an issue and get results within an hour or less.  It may mean more trouble for second home owners that rent out their home. There will be more hoops to jump through and more accountability for renters you have limited control over. Two families with a total of 5 kids between them may not be able to rent a three bedroom Silverthorne home. Those renters will have to move up to a four bedroom or to a nearby town. Changes like these could impact rental revenue. An impact on rental revenue can have an effect on demand and, as a result, property values. If that happens, it will be felt by all property owners, not just owners of short term rentals.

It’s impossible to know exactly what impacts these changes will have. I anticipate there will be ripples in the pond. Hopefully they will be minimal.

Posted in: All About Rentals Tagged: Breckenridge, Dillon, Frisco, Regulations, Silverthorne, Summit County

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About Us

Mountain Living Real Estate, a.k.a. The Mountain Living Team, is a family owned, second generation, real estate company that has been helping buyers and sellers in Summit County since the early 90’s.  Mountain Living Real Estate is committed to going above and beyond to ensure their clients have the most amazing real estate experience possible.  Jason & Meredith take a personal approach to educate their clients, empowering them to make high quality decisions no matter the situation.  They take exceptional care throughout the sales process and beyond; striving to make each client’s path in Summit County one filled with fun, excitement & great memories.

Work with Mountain Living Real Estate and you’ll understand why so many people say, “We Love Mountain Living!”

Testimonials

Jason used amazing strategy for pricing, selling and acquisition of our next property. In this market this strategy is critical for success – especially with the buying process. Summit County real estate is a challenging market. We have bought and sold two properties and just bought our third. Jason and Meredith have been there for Continue Reading

Ben from Centennial February 2, 2022

You were very knowledgeable and supportive during this transaction. I was most impressed with your calmness and smart decision making during a chaotic process. Thank you again for your calmness during all of this.

Barbara from Centennial January 24, 2022

home in Breckenridge

We were very impressed with your professional skills, timely communication, and excellent listening skills. We felt you cared about us and our success.

Frederick from Colorado January 24, 2022

Living room in Dillon condo

(I was most impressed that they) Kept us informed through it all and helped navigate the things that needed to get down in a timely fashion. Also really appreciated help getting people to do some of the things done around the house.

Kate from Ft Collins November 4, 2021

House in Hamilton Creek

You guys did an exceptional job for us and went the “second mile” in many ways. We were most impressed with Pro-active and involved interaction with us and everyone in the process. Your team was exceptional. Recommended many things for us to do, and then helped us do them. Followed up,, checked in, and helped Continue Reading

Warren & Sue from TX August 12, 2021

Treehouse condo

Over the years we have bought and sold over 30 pieces of property and this was one of the most efficient and painless processes. Service and attention was A-perfect!

Jack from FL August 9, 2021

Gateway condo in Keystone

I very much enjoyed working with both Meredith and Jason, they really focused on our needs and questions. Their knowledge of the Summit County Area was worth its weight in Gold. Thank you guys!

Glen from GA July 27, 2021

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We were most impressed with your good judgement and advice on everything. Thank you for navigating us through the sale of our house.

David & Cecile from Boulder July 14, 2021

Copper Mountain Ski Resort

Great service- more forward leaning than previous realtors Most impressed with follow up, knowledge of local market, going the extra mile on document review and getting HOA questions answered. Good advice on price point, patience, and negotiations. Understandably you aren’t always available to look at properties, but in the crazy COIVD market there was one Continue Reading

Holly from Colorado Springs June 14, 2021

Most impressed with the dedication to getting the best deal for us! Exceptional service, skilled negotiators, truly worthy! I wouldn’t consider hiring anyone else. Thank you Meredith and Jason.

Lloyd from Salida June 4, 2021

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Jason and Meredith Adams

Jason & Meredith Adams
Mountain Living Real Estate

101 Main St, #109, PO Box 4115 Frisco, CO 80443

(888) 666-0844
team@mountain-living.com

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