Make Rental Income with Long Term Rentals

Since the Breckenridge and Greater Summit County Short-Term Rental Ordinance went into place at the end of 2022, our brokers have been fielding questions from past and potential clients about how the ordinances could affect their investment.

Short-term rental rules and regulations vary by area.
For more information on the Short-Term Rental (STR) Regulations by town for Summit, Park, and Grand Counties, click here.

If you're considering purchasing in one of the areas where there’s a waitlist for STR licenses, you still have the opportunity to make rental income. Whether you’re waiting for an available STR license or are just starting to weigh your different rental options - monthly, seasonally, or for a 12-month lease - long term renting allows you to make income from your investment in addition to appreciation.

Long Term Renting Might Be Beneficial for You If:

1. You Only Spend Ski Season in Summit County 

The Town of Breckenridge and the surrounding areas have worked hard to make the county a popular place to visit all 12 months of the year. Rental demand is no longer limited to the ski season. Families from the surrounding states, especially Texas and Arizona, escape from the brutal summer temperatures of their own states here in Summit County. As summers continue to get warmer, the demand for single family homes also rises.

2. You Only Spend Summers in Summit County

With 4 world renowned ski resorts within Summit County and an additional 3 resorts within driving distance, it’s no surprise that powder hounds flock here from all areas of Colorado’s Front Range. Devoted weekend warriors and families with school age kids pack up their cars every Friday to spend the next couple days hitting our high-country slopes. Save yourself the added property management costs by renting to one group for the season.

3. You Plan to Use Your Home Frequently

Second homeowners who plan to use their property frequently can avoid additional wear and tear, cleaning costs, and the hassle of locking away their personal possessions every time they leave while still making additional rental income by long-term renting an accessory apartment to a member of the local workforce.

To make this option more attractive to homeowners, Summit County introduced the Accessory Dwelling Unit Assistance Program. Through the program, qualifying homeowners will be reimbursed up to $60,000 for construction costs and in some areas the funds can be used to pay upfront for water and sewer tap fees. Under this program, occupants of the accessory unit must work 30 hours or more in Summit County.

For more information on the Accessory Dwelling Unit Assistance Program, click here.

4. You Live Out of State

Rest easy knowing your home is in good hands. Renting your property long term means you have the opportunity to choose who is occupying your home through an application process. Whether you meet the candidate in person, speak over the phone, or touch base over a Zoom call, leasing to a long-term tenant may feel more reassuring than having multiple anonymous renters book your property through an app. Owners have the option to lock-off areas of their home, like closets or bedrooms, with their personal belongings and can collect a security deposit to cover any incidentals.

Homeowners who choose to lease to the local workforce may be eligible for Lease to Locals incentive program. Through the program, property owners who choose to lease to qualifying tenants working 30 or more hours in the county can receive supplemental rental payments while charging tenants a more affordable rate. By participating in the Lease to Locals incentive program, homeowners are helping ensure our local workforce can continue to support the area’s businesses without sacrificing the income they could make renting their property to seasonal visitors at higher rates.

For more information on the Lease to Locals incentive program, click here.

Ready to invest in your dream mountain home but unsure how Summit County’s rental regulations may impact you?

Call Breckenridge Associates Real Estate to speak with one of our knowledgeable and informed Brokers today.