SLIDE 1
Agenda
- Summit County In Context
- What Prompted STR Regulations
- How we Developed the Regulations
- Permitting Process Challenges
- Lessons Learned
Short-T erm Rental Regulations December 3, 2019 Agenda Summit - - PowerPoint PPT Presentation
Short-T erm Rental Regulations December 3, 2019 Agenda Summit - - PowerPoint PPT Presentation
Short-T erm Rental Regulations December 3, 2019 Agenda Summit County In Context What Prompted STR Regulations How we Developed the Regulations Permitting Process Challenges Lessons Learned Summit County In Context Summit
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SLIDE 3
Summit County In Context
SLIDE 4
Summit County In Context
Over 500% Population Increase on a Peak Day
T
- urist-based Economy
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What Prompted STR Regulations
970.368.2044 STR Helper Hotline
2 Primary Influences:
- Proliferation of Self-managed STRs,
VRBO, and Airbnb
- Impact on Residential Neighborhoods
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What Prompted STR Regulations Self-Managed STRs
STR Owner STR Property
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Influx of STRs
County Income Denver $74.6 million Summit $57 million El Paso $17.6 million Boulder $22.9 million Larimer $13.6 million Jefferson $12.3 million Grand $11.6 million Eagle $19 million Routt $10 million Adams $5.7 million
2018 Reported Revenues for Colorado’s Airbnb Hosts
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Impacts: Noise
“This is a 1-acre lot…You can be fairly loud”
STR Complaint Hotline: “Loud outdoor rave party went on past 2 am last night with loud music and shouting.”
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Impacts: Parking
Parking
- n the
Rec Path
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Impacts: Trash
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Impacts: Snow Removal
Shared Duplex Driveway
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Impacts: Septic Systems & Water Quality
Failing Septic Systems … Sewage Running Down Driveway
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Development of STR Regulations
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Airbnb: 10 Bedrooms Assessor: 7 Bedrooms
Permitting Process Challenges
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Sales Tax
1 in 3 did not have a valid sales tax license
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Lessons Learned
Illegal Land Use & Development
Bunk Beds in a Closet
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Lessons Learned: Occupancy
1 person per 200 square feet
- OR-
2 people per bedroom, plus 4
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Commercial vs. Residential
Alpine Villa Tuscan Retreat
15,348 sq. ft. single-family short-term rental Property Taxes = 7.2%
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Commercial vs. Residential
Frisco Lodge
8,040 sq. ft. Hotel Property Taxes = 29%
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1/3 STRs 1/3 Permanent Resident Housing 1/3 Vacant
Lessons Learned: Housing Impact
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Lessons Learned: Housing Impact
Short-T erm Rentals Lower Blue Snake River Upper Blue T en Mile Active Rentals 950 2,667 4,708 1,478 Average Number of Bedrooms 2.6 2.1 2.7 2.3 Percent Rent Entire Unit 94% 98% 97% 98% Occupancy Rate 50% 39% 45% 40% Average Daily Rate $223 $263 $356 $286 Average Monthly Revenue $2,701 $2,630 $3,882 $2,858
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Lessons Learned: Housing Impact
STRs
Summit County Resident Owners Other Colorado Owners Out-of-State Owners
Less than 10% are locally owned
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Potential Changes to Regs
- Occupancy Calculations & Max
Occupancy
- Parking Ratio and/or Min Parking
Standard
- Lodge vs. House
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Issues for Future Consideration
Stronger regulation and enforcement alternatives Licensing Options The ability to tax income producing residential properties as commercial
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