AIRBNB IN COLORADO SPRINGS
For years, the short-term rental laws in Colorado Springs were favorable to investors. That has changed a bit.
A new law passed in December 2019 restricts Airbnb investments in Colorado Springs in a couple ways. (Now, if you already had a legally permitted STR prior to the December 2019 meeting, you are grandfathered in.) But if you're looking to buy a new place for a new short term rental, you've got to get creative.
Here's what is still allowed:
owner-occupied (primary residence) short-term rentals in any zoning district
non-owner occupied (investment) short-term rentals in R2 zoning and higher IF it is at least 500 feet from the nearest non-owner occupied STR.
What does this mean for you? It depends on if you want an investment property or want to live in the place but offset your mortgage with STR money.
If you want to house-hack with Airbnb in Colorado Springs, then you're still fine. We specialize in finding properties with full-on basement apartments or lock-off basements (or in the best case scenario, a carriage house) that you can rent short-term. (As an aside, we've also found that renting these spaces medium-term to traveling nurse types still brings in good money with less work.)
If you want to buy an investment, then you have to be patient and get creative. We've set up searches for homes zoned properly and then cross-check that agains a map of existing non-owner occupied Airbnb rentals to see if they will work.
Understanding the short-term rental laws in Colorado Springs can be tough. Want more clarification or want to get started on a home search? Contact us today.