City-Specific Short Term Rental License Info
Cities within our region are increasingly requiring residents who rent rooms in their home, their entire home, or an accessory dwelling to possess a short-term license and pay tax on their rental income stream. Recently, Denver cracked down on unlicensed homeowners and issued over 1,000 violation notices. The violation requires folks to either obtain a license via their application process within 14 days or pay fines ranging from $150-$1,000. Once licensed, homeowners are required to pay Denver a 10.75% “lodging tax.”
Here is a brief summary of related requirements, by city, within Boulder County. The implementation of license requirements is not new in most cities. However, the extent to which the requirement is enforced is trending upwards.
Are you entertaining the possibility of renting your home or accessory dwelling? We'll share some tips for renting and suggestions for layout/renovation to make it possible. Are you searching for a home that has a separate apartment for VRBO or Airbnb purposes? We will customize a home search that automatically alerts you to any properties that fit your criteria. Let's discuss your options - (720) 339-1500 or email us.
Disclaimer: Boulder County Realty Company is not in the business of tax accounting. Consult your tax professional for guidance.