If you’re reading this, you’ve likely been trying to patiently await news about Short Term Rental Regulations in Unincorporated Summit County. Here is a quick rundown of what we know so far about neighborhood caps and estimated wait times, which could be much longer than you think if the proposed caps are implemented.
Proposed Neighborhood Caps
The Summit County Board of County Commissioners (BOCC) had a work session on November 15 where they shared a presentation with recommendations for caps in each area of the neighborhood overlay zone- see below. This means a 42% reduction in the current number of permits for the Lower Blue (Wildernest/Silverthorne), a 50% reduction for Snake River (Dillon Valley & Summit Cove), 45% for Ten Mile (Frisco), and 50% for Upper Blue (Breckenridge). These are HUGE reductions on the current number of licenses that exist, and don’t even take into account the number of people that have been waiting since the moratorium went into effect in May of this year to apply for a license. Here is a link to the full presentation.
How long could you be waiting?
Without going into too much detail, if these caps get passed in the neighborhood overlay zone, depending on the area you are looking in, you could be waiting 5, 10, or even 15+ years to get a Short Term Rental license. The Summit BOCC is still open to public comment, so if this is important to you, reach out to them, and suggest that they implement caps that do not require the number of STR licenses to be lower than they currently are. They need to hear many more voices than just those of the real estate professionals in our community.
Message our team at Team@COMtnRealty.com if you want to know how to contact the BOCC, or find us online at COMtnRealty.com.