Do you own a vacation property in Colorado Springs that you rent out via Airbnb, VRBO, HomeAway, or through a rental agency? As a property owner, it is your responsibility to inform yourself as to how this proposed ordinance will affect you and any properties you may own.
The city of Colorado Springs is proposing an ordinance to regulate Short Term Rentals (STRs) within the city. The majority of STR owners/hosts are supportive of the regulation as it was written and presented to the Planning Commission and to the City Council. Additional restrictions are now being proposed by the City Council which would result in many (approximately 1,400) private property owners either losing their ability or severely restricting their ability to leverage their personal property. The proposed additional restrictions could prohibit renting a property out for less than 30 days, and could limit the ability to rent out homes that may not be occupied by the owner.
If you own property in Colorado Springs, I recommend you take the following action by Monday, October 22nd:
1. Review the proposed ordinance on the Colorado Springs city website
2. If you have questions, feedback, or concerns, contact the City Council
· Phone: 719-385-5986
· Email: allCouncil@springsgov.com
3. Also, if your property is part of a Home Owners Association, now is a good time to review the HOA Covenants and other governing documents to understand how your HOA regulates (or doesn’t regulate) STRs.
If you need help understanding the proposed Short Term Rental Ordinance, the changes the City Council is proposing to it, and how it affects you, or in reviewing and understanding your HOA Covenant, I can help. Please give me a call anytime – 719-237-0234.