There has been a lot of talk and new regulation about short-term rentals in Summit County as well as the towns of Summit County for the past few months. After implementing regulations in both unincorporated Summit County as well as the Town of Breckenridge from September – December 2021, new longer term regulations were passed last month.
Breckenridge passed a cap on the number of short term rental licenses of 2,200 licenses. Currently, the number of active licenses is about 2,700, meaning that 500 licenses will have to be given up or not reviewed for new ones to be issued. However, owners can get on the waitlist now and there are also exemptions for some hotel and condo-complexes.
In addition to the license cap, the town has implemented a new one time fee of $400/room for short term rentals, with the exception of locals that rent out their unit for less than 21 days per year. The proceeds will be used to support the town’s workforce housing policies and programs.
Summit County is taking a bit of a different approach to its short term rental regulations, which were passed on Dec 16, 2021. It separates areas into resort zones and neighborhood zones. Resort zones include Keystone, Copper Mountain, Peak 8 and Tiger Run and are exempt from the new regulations and can continue to operate without a limit on nights rented. Neighborhood zones are the rest of unincorporated Summit County, including Peak 7, which was moved from a resort zone to a neighborhood zone between the first and second ordinance reading.
Neighborhood zones properties will fall under one of three types. Type 1 applies to an owner’s primary residence. If the owner rents out the property when owner is present, there is no limit to nights rented. If owner is not present the maximum allowed nights is 60.
Type 2 applies to non-primary residences such as second homes and allows a maximum of 135 rental nights per year.
Type 3 refers mostly to multi-family units with a shuttle to the ski areas within 100 feet, at least 3 of the following amenities: pool, hot tub, sauna, tennis/pickle ball court, or game room, and a minimum of 100 units in the HOA. Type 3 is also applicable to an ADU that is occupied by a residence employed in Summit County for a minimum of 30 hrs/week. A Type 3 license has no cap on amounts of rental nights allowed.
All property types outlined above require a short term rental license.