Summit County considers cap on short-term rentals
Affordable housing continues to be an issue in Colorado's mountain communities as neighborhoods near Breckenridge are concerned about a proposed cap on short-term rentals. Some claim the proposal could hurt their property values and isn't the solution to the housing shortage.
A meeting in Summit County grew heated on Tuesday as the proposal was discussed.
"It's just not fair, it's not the open dialogue that we would expect," said resident Rich Mason.
Mason is not in danger of losing his short-term rental property because people with licenses will be grandfathered in but he is worried that a cap on the number of places that can have short-term rental licenses will hurt his neighbors.
"A lot of them their retirement is wrapped up in their home, I think a small percentage need that income to keep their home. I think a lot of people will be hurt by it," said Mason.
The Peak 7 neighborhood is included in the ordinance.
"They think that somehow reducing short-term rentals is going to make it so seasonal employes are going to be able to afford multi-million dollar houses... that doesn't make sense to me," said resident Michael Orlando.
"...will the $2 million home ever become attainable for the workforce, no it won't but could the $600,000 home that is currently owned by the workforce and could be purchased by a second home owner to become that short-term rental. Can we prevent that situation from happening?" asked Summit County Commissioner Tamara Pogue.
Some residents question the short-term rental cap, in regard to other communities in Colorado.
"I think Boulder and Denver are different economies than we are in Summit. Summit County is a tourist economy, Boulder is very different, same with Denver. I think our approach to regulations needs to be different.," said Mason.
