Having a broker who understands the STR landscape is critical, here is my status update on Short Term Rentals in Summit County.

BRECKENRIDGE

• Town limits divided into 4 zones

• Resort zone – unlimited licenses available

• Zone 1 – 400+ licenses available

• Zone 2 – projected that it will be 10+ years before new license issued

• Zone 3 – projected that it will be 10+ years before new license issued

FRISCO

FRISCO

• Town of Frisco approved a 25% cap on Short-term rental licenses within the Town.

• On February 23, 2023, Frisco has reached its short-term rental license cap and is now
implementing a waitlist for those wishing to apply for a short-term rental license.


SILVERTHORNE

• Area 2 - Downtown core allows 50% of inventory to have a license – small focused area

• Area 1 - Remaining residential area subject to new 10% cap – circa 400 licenses available
– begs the question of why they had to impose legislation – “because everyone else is??”

• The Town believes there is plenty of room for growth in short-term rental permits. Under
the proposal, there will be 740 permits available within the whole town, about 20% of approved residential units.

DILLON

• Require a license. Currently no limits of caps

TOWN OF BLUE RIVER

• Currently STR’s make up 23% of all inventory

• Town council has stated that they will review when STR’s make up 28%+


UNINCORPORATED SUMMIT COUNTY

• Resort zone that includes Keystone Ski Resort and Copper Mountain Ski Resort, as well as a small parcel next to Breckenridge Ski Resort – Unlimited Licenses available. Keystone Ranch HOA just voted to prohibit STRs from June 2024

• The rest of the county is split into districts

• The significant one being the Upper Blue River Basin – High School to Hoosier Pass
This area is currently at 25% of all inventory having a STR license.
New ordinance will set cap at 12.5% - 18% - TBD
There are some exceptions for homeowners renting out their own houses
There is also discussion to set a cap of 26 total rental being allowed per calendar year instead of a nightly cap of 135 nights

• ‘Peak 7’ neighborhood homeowners have mobilized and got the attention of the count planning commission. The are recommended to the County Commissioners to include this area in the Resort Zone – allowing unlimited licenses. This recommendation was not taken up.

• Some owners in the Peak 7 neighborhood have now engaged a law firm to litigate against Summit County – they are currently looking to raise funds from County residents.


CURRENT METRICS HAVE THE COUNTY TRACKING 2019 DATA WHICH MOST IDENTIFY AS A GOOD BENCHMARK FOR NON COVID AFFECTED DATA.