What you need to know before renting out a vacation rental in Colorado!
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Dillon, CO
STR’s & Colorado
The growing interest of short term rentals (STR’s) has made companies like Airbnb & VRBO billon dollar industries. This means not only are they making money, ANYONE with a property can start making some serious cash. Luckily for Coloradans, we have a state that everyone wants to come visit! The Rocky Mountains, the weather, and even the weed industry makes Colorado and awesome place to own a second home, or a vacation rental.
Laws, Regulations, & Permits
Don’t get fined or banned before you start! Make sure you follow these steps!
Although Airbnb’s are very safe & professional, many people do not want them in their neighborhoods. Therefore, many places have strict guidelines and regulations on STR’s. There are many places where you need to hire a local manager per new regulations. Here are some things you need to ask before renting your place out on Airbnb.
Questions you need to ask your local government?
Is your property zoned for STR?
What permits do you need?
Do you need to pay any extra taxes?
Lodgers Tax (Sometimes taken out automatically)
Sales Tax
Do you need a business license or STR license?
Do you need a specific type of insurance?
Do I need an inspection?
Do I need to attend a community hearing on my property?
Do I need a local property manager?
Here is a helpful article from the Airbnb Community - Click Here