RENTAL HOMES AND CONDOS

SUMMIT COUNTY, COLORADO

See Breckenridge Information

Many homeowners rent their vacation properties out, which affords them the opportunity to offset the operating expenses of the home. If homeowners are not going to use the property as often as they would like, this can be a great way to invest in the market, have the property for personal use, and capitalize on the appreciation and resale value.

Breckenridge, Keystone, Frisco, Copper Mountain, Silverthorne, and Dillon are all within close proximity to the ski slopes, as well as I-70 with quick access to Denver.

It is important to keep in mind that there are some subdivisions and neighborhoods in Summit County that do not permit short-term rentals. The Ranch at Eagles Nest, in the Three Peaks community, as well as Angler Mountain Ranch are good examples of this.

Nearly every subdivision and complex In Summit County allows the owner to use any property management company they wish. Some homeowners even choose to rent the property themselves through avenues such as VRBO (Vacation Rental By Owner).

When looking to choose a property management company, it is typical for local companies to charge 20% to 45% Of the Gross Commissions.

Keystone Property Management is a good example of a company that may charge around 45%;, depending on the plan selected. However, they do bring in a substantial amount of conference reservations and wedding reservations. So depending on where the neighborhood is, using Keystone Property Management could be a big advantage. They also offer a program for owners who want to be more hand's on and rent their property through avenues such as VRBO. Keystone Property Management will take the bookings, the checkins, and checkouts, maintenance, cleaning, billing, etc. for a fee.

Properties that have a front desk check-in such as the Village at Breckenridge, Bluesky Breckenridge, Beaver Run have around a 45% to 50% split. Most of the properties with front desk check-ins utilize this opportunity, as it is very convenient for guests and also brings in conference reservations and wedding reservations. Keep in mind that these kinds of properties can also be referred to as a condo-tel, which can sometimes be challenging for lenders. Click here to read more about condo-hotels.

SUMMITY COUNTY CO RENTAL PROPERTIES

Do The Numbers Work?

Operating Expenses May Include

HOA Fees
Resort Fees
Utilities
Real Estate Transfer Taxes Due Each Time the Property Sells

When deciding if investing any rental property right for you, You may want to take an extra look at the operating expenses. Often times, Rental properties can offset these expenses, but in many cases do not provide a cash flow situation, especially if there is a loan involved.

Many properties in Summit County Colorado have Monthly HOA fees, which sometimes cover the utilities. Many properties also have a real estate transfer tax which is paid to the town each time a property sells and some properties are required to pay a neighborhood/Resort fee. Consumers may view these fees on the MLS details report. This is located in the middle of most reports under: