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If you’re searching for a property in Jefferson County, Colorado, to operate as a short-term rental (STR), you’re on the right track to a potentially lucrative investment. Many buyers are looking to purchase properties to generate income and build wealth. However, understanding the local regulations around STR license rules is key to ensuring a smooth set-up. Here’s what you need to know to navigate the process effectively.
Does it need to be a property with an Existing Short-Term Rental License?
Although not required, purchasing a property that is already functioning as a short-term rental can offer numerous advantages:
• Immediate Income: The property is likely to have an established guest base, future bookings, and a track record of rental income, providing cash flow from day one.
• Proven Demand: An existing STR indicates strong demand in the area, reducing uncertainty and risk.
• Easier Management Transition: Many of these properties already have systems in place for managing guests, maintenance, and bookings.
To maintain these benefits, however, you need to ensure the STR license is properly handled.
Steps to Set up a Short-Term Rental License in Jefferson County
1. Terminate the Existing License:
Jefferson County does not permit direct transfers of STR licenses between owners. The current owner must first terminate the existing license by notifying the Jefferson County Planning and Zoning Department. This should be done in writing, indicating the intent to close out the license before the property changes hands.
2. Apply for a New STR License:
As the new owner, you will need to apply for a new STR license. This involves submitting a new application through the Jefferson County Planning and Zoning Department’s online portal, providing necessary documents like proof of ownership, a site plan, and meeting all local zoning, health, and safety regulations.
3. Pay the Applicable Fees:
The initial application fee is currently $200, with an annual renewal fee of $100. These fees may change, so it is recommended to verify the latest fee schedule on the on the Jefferson County Planning and Zoning website.
4. Prepare for a Property Inspection:
An inspection may be required to ensure compliance with safety regulations such as smoke detectors, carbon monoxide detectors, and emergency exits. This step is essential to obtaining approval for the new license.
5. Receive the New License:
Once the application is approved, the new license will be issued, allowing the property to continue operating as a short-term rental.
Resources for More Information
For the most accurate and up-to-date information on transferring or applying for a short-term rental license in Jefferson County, visit the official Jefferson County Planning and Zoning Department website. This resource provides detailed guidelines, application forms, fee schedules, and contact details for any additional questions.
Are You Ready to Find Your Short-Term Rental Investment?
If you’re considering purchasing a property as a short-term rental investment in Jefferson County or the surrounding areas, I can help you find the perfect opportunity. Contact me today to schedule a consultation and learn more about the current market, available properties, and how to navigate the STR license process smoothly!
By understanding these steps, you can ensure a smooth transition and maximize the investment potential of your new property. Ready to make your move? Reach out, and let’s explore your options together!- Jen Langhals Colorado Realtor, eXp Realty 720-507-9079
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