A short term rental in Denver refers to a property that is rented out for a short period of time, typically for less than 30 days. This can include vacation rentals, corporate housing, and other types of temporary rentals. Examples of popular short term rental platforms in Denver include Airbnb, VRBO, and HomeAway.

What properties are must used with a short term rental?

Properties that are commonly used for short-term rentals include:

• Vacation homes: These can be standalone houses, cottages, or apartments that are located in vacation destinations such as beach towns, ski resorts, or tourist areas.
• Condos and apartments: These types of properties are often located in urban areas and can be a good option for travelers looking for a more convenient location.
• Serviced apartments: These are similar to condos and apartments, but come with additional amenities such as housekeeping and concierge service.
• Guest houses and bed and breakfasts: These types of properties are often located in residential areas and can provide a more personal and intimate experience for travelers.
• Tiny Homes, Houseboats, yachts, and RVs: These are also popular options for short term rentals as they offer unique, alternative and often more affordable accommodations for travelers.

It’s worth to mention that laws and regulations for short term rentals can vary by location and may limit the types of properties that can be used for short term rentals. Especially, in Denver where it can vary even by neighborhood.

How do I buy a short term rental house?

Buying a short term rental property is similar to buying any other real estate, but there are a few key considerations to keep in mind:

1. Location: Look for properties in popular vacation destinations or areas with high tourist traffic. Properties located in urban areas with good access to transportation and amenities can also be a good investment.
2. Property condition: Look for properties that are in good condition and that can be easily maintained. Properties that need a lot of repairs or renovations may not be a good investment.
3. Zoning laws: Make sure that the property is located in an area that allows short term rentals. Some cities and municipalities have strict laws and regulations around short term rentals, so it’s important to check local laws before making a purchase.
4. Market demand: Research the demand for short term rentals in the area. Look at factors such as average occupancy rates, average daily rates, and seasonal fluctuations.
5. Financing: Consider the best financing options for your short term rental property. Some lenders have specific loan programs for short term rental properties.
6. Management: If you don’t have time to manage the property yourself, consider hiring a property manager to handle bookings, cleaning, maintenance and other responsibilities.
7. Taxation: Make sure you understand the tax implications of owning a short term rental property. Some cities have specific taxes for short term rentals, so it’s important to check with a tax professional.

Once you’ve considered all these factors, you can start looking at properties that meet your criteria and make an offer on one that you think will be a good investment. Short term rentals are a fantastic resource for cash flow regardless if you’re a full time real estate investor or you’re just looking to make good use of a second home you use every now and then.

Disclaimer: This is for educational purposes only. This is not financial or legal advice on your current situation with your house in Denver.

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