Real Talk on Real Estate from the Pikes Peak Home Team

New Rules for Owners of Short-Term Rentals

1/4/2019

New rules for owners of short-term rentals in Colorado Springs went into effect January 1, 2019. The rules apply to all properties (including rooms and guest houses) rented for less than 30 consecutive days. Among the changes: Owners are now required to obtain a permit annually through the City of Colorado Springs. They also need to collect and remit appropriate state and city sales tax, and comply with the regulations outlined in the permit application. Find out what you need to do before you list your property on sites like AirBnB and VRBO. 

Anyone renting out a residential dwelling unit (examples: home, apartment, condo) or a portion of a residential dwelling unit (examples: bedroom, basement, cottage) in Colorado Springs must apply for a short-term rental permit if the following criteria are met.

  1. The unit or partial unit is rented for less than thirty days at a time.
  2. The unit or partial unit is NOT owned by the federal government, the state, or the City of Colorado Springs, or any of their agencies, or facilities licensed by the state as health care facilities.

How to apply

  1. Complete the application and self-inspection checklist.
  2. Apply for a city sales tax license. (If you are hosting your sort term rental ONLY on AirBnB, you do not have to apply for a City sales tax license. AirBnB collects sales tax and the lodging and rental tax on behalf of the City of Colorado Springs.)
  3. Ensure that your property is covered with at least $500,000 in liability insurance (some hosting platforms provide insurance for you, others do not.)
  4. Email the completed application, self-inspection checklist, proof of sales tax and proof of insurance to planningdev@springsgov.com(link sends e-mail)
  5. Call (719) 385-5905 to pay the $119 permit fee. 
  1. Once you are issued a short-term rental permit number you will need to display the short term rental application, self-inspection checklist as well as the Good Neighbor Guidelines(with the permit number, valid through date, and local emergency contact) in a prominent location within your short-term rental unit. You may black out contact information you do not want renters to see, such as your primary address and email. Please keep the local emergency contact information (Name and Phone Number) available to renters. This paperwork displayed together will act as your permit.

Applications that are received via email require a 3 day processing period. You can also visit the Land Use Review office at 30 S Nevada Suite 105 Colorado Springs, CO 80903 between the hours of 8 a.m.-Noon for same-day processing of your application. Applications received after Noon will require three days to process. 

Other Considerations

  • They must be operated out of lawful dwelling units
  • If your advertising your short term rental on websites other than AirBnB you will need to obtain a City Sales Tax License (AirBnB collects sales tax on the City’s behalf)
  • You must maintain weekly residential trash collection services.
  • You will need to provide proof of liability insurance in the amount of not less than $500,000.
  •  Properties must remain compliant with all planning, zoning, building, and other City codes.
  •  All short term rentals shall abide by all applicable noise, housing, and public health ordinances of the City and with all other City fire and safety ordinances.
  • Parking in private driveways shall be utilized first with overflow parking on the street where permitted.
  • You cannot host weddings or large social/commercial events at a short term rental
  • Short term rentals are required to have a 24-hour point of contact on file with the Planning Department who can respond within 1 hour in the case of an emergency.
  • Your short term rental permit is valid for 1 year.

For more information about this new ordinance visit Visit https://coloradosprings.gov/str

Happy New Year! Is 2019 the Year You Buy a Home?

1/1/2019

2019 is off to a very cold start here in Colorado. This gives us plenty of time to stay inside, drink some hot cocoa and contemplate our 2019 New Year's Resolutions. If one of your resolutions is to quit renting and buy a home this year then congratulations on making that important decision. As I'm sure you know, rents have been increasing here in Monument, Palmer Lake and Colorado Springs every year for the past several years and this trend is expected to continue in 2019 as people continue to move to Colorado.

Now that you have decided to become a home owner it is time for you to take the next step - call us at 719-398-1999. Seriously, call us because we need to talk about a number of issues that will impact your ability to keep your resolution to buy a home this year. We have over 30 years of experience buying and selling residential real estate in Monument, Palmer Lake and Colorado Springs so let us help you navigate through one of the most challenging real estate markets in the country.   

Happy New Year from the Pikes Peak Home Team!

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