Are you considering renting out a condo in Denver, Colorado? If so, you'll need to be aware of the regulations and restrictions that come with it. In accordance with the Denver Revised Municipal Code, the city and county of Denver require hosts to obtain a license to offer short-term rental in their homes. There is no limit to the number of vacation rentals occupied by the owner, but there are regulations related to properties not occupied by the owner. Before obtaining a license, it's important to consider how long your lease will last and how you will rent the property. It's possible that areas surrounding Denver, such as Aurora, Lakewood and Inglewood, will experience an increase in property values due to high demand for rental properties.
However, these areas face zoning restrictions and it's important to be aware of them when investing in short-term rentals. In accordance with the Denver Revised Municipal Code, hosts must obtain a license to offer short-term rental at their primary residence - that is, the place where they live fixed during the term of the license and is their usual place of return. Recently, a new bill was approved by the Denver City Council and signed into law by the Denver Mayor. This bill imposes licensing restrictions and limits short-term rentals to 30% of the city's units. Investing in a vacation rental in Fort Collins can be an excellent opportunity, but investors should choose the location carefully to ensure that short-term rentals that aren't occupied by the landlord are legal.
Under federal law, if you rent a second home for more than 14 days in a calendar year and use it for personal purposes for up to 14 days in a calendar year, you are entitled to vacation rental tax benefits. Local governments have not taken concrete steps to legalize vacation rentals in Douglas County, Colorado. As such, rental costs in the Denver area may increase as landlords try to offset the costs and expenses they incur in complying with this new law. When looking for tenants, it's important to consider discrimination laws as well. The City of Denver defines short-term rental as the provision of accommodation to guests for less than 30 consecutive days in exchange for remuneration. This makes Adam County an ideal place to invest in Airbnb's strategy in Colorado, where many markets face significant restrictions for full-time, out-of-state investors.
This is for anyone offering, providing, or operating residential rental property in the city and county of Denver. In conclusion, if you're considering renting out a condo in Denver, Colorado it's important to be aware of all regulations and restrictions that come with it. Be sure to consider how long your lease will last and how you will rent the property. Additionally, be aware of zoning restrictions when investing in short-term rentals and discrimination laws when looking for tenants.
