Short-Term Rental (STR) Regulations
In Durango, CO, Short Term Rentals (STRs) are subject to regulations set forth by the city government. Investors looking to purchase a property for STR purposes should be aware of the following regulations:
1. Zoning Restrictions: The city of Durango has specific zoning regulations that dictate where STRs are allowed to operate. Investors should ensure that the property they are considering purchasing is located in a zone that permits short term rentals.
2. Licensing Requirements: In order to operate a STR in Durango, property owners must obtain a short term rental license from the city. This license must be renewed annually and there are fees associated with the application process.
3. Occupancy Limits: The city of Durango has established occupancy limits for STRs in order to prevent overcrowding and ensure the safety of guests. Investors should be aware of these limits and ensure that their property complies with them.
4. Noise and Nuisance Regulations: Durango has noise and nuisance regulations in place to protect the quality of life for residents in the community. Investors should be aware of these regulations and take steps to ensure that their guests are respectful of their neighbors.
5. Taxation: Property owners who operate STRs in Durango are required to collect and remit lodging taxes to the city. Investors should be aware of these tax obligations and factor them into their financial planning.
6. Homeowner's Association Rules: If the property is located within a homeowner's association (HOA), investors should review the HOA rules and regulations to ensure that STRs are permitted within the community.
By being aware of and compliant with these regulations, investors can ensure a smooth and successful operation of their Short Term Rental property in Durango, CO.