Help Shape Silverthorne s Future Short Term Rentals Community Open House

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1 REGULATORY ENVIRONMENT: LICENSING, TAXES, AND ENFORCEMENT Examples of Proposed Regulations A Separate type of business License is proposed, likely to be named an Accommodations License with additional requirements, including: Local contact information with 60 minute response time Self-certification of understanding of noise, parking, and trash ordinances Letter from HOA (if applicable) affirming the STR is allowed Accommodation license needs to be listed in all advertising for tracking purposes 24/7 hotline for complaints Formal complaint escalation with fines, fees, and license revocation for repeat violators Existing Regulations are Sufficient Additional Regulations are Needed

2 LIFE SAFETY CONCERNS Examples of Proposed Regulations Require physical location to be posted within the unit in order to allow guests to identify location to police dispatch in case of emergency Limit the maximum occupancy of a unit Ensure there are working smoke alarms and CO detectors Ensure there is a fire extinguisher Require locks on hot tubs Ensure there are working toilets, showers, sinks, etc. Existing Regulations are Sufficient Additional Regulations are Needed

3 QUALITY OF LIFE/COMMUNITY Examples of Proposed Regulations Provide local contact information to neighbors within a certain radius 24/7 hotline for complaints Self-certified declaration of understanding trash, noise, and parking ordinances Short Term Rental of deed restricted housing not allowed (already in effect) Require locks on hot tubs Ensure there are working toilets, showers, sinks, etc. Rules Imposed by Other Municipalities: Only allow STRs at the owner s primary residence as evidenced by driver s license, voter registration, etc. (Denver) Limit STRs to a maximum number per area (Durango) or total number of STR licenses in Town (Crested Butte) Require notices to be posted in a conspicuous location inside the rental unit with the name, address, and telephone number(s) of the local agent; location of the fire extinguisher; information on the trash pickup schedule (Durango). Existing Regulations are Sufficient Additional Regulations are Needed

4 Existing Regulations FAIR COMPETITION Short Term Rentals (STRs) are required to have a Business License Short Term Rentals are required to collect and remit sales and lodging taxes to the Town Proposed Regulations Require local agent to be available 24/7 for neighbor and/or guest complaints Require smoke alarms, CO detectors, and fire extinguishers (self-certified) Existing Regulations are Sufficient Additional Regulations are Needed

5 BENEFITS OF SHORT TERM RENTALS Individuals Provides homeowners with additional income Short term rentals make it affordable for friends and family to visit the area Community Short Term Rentals (STRs) increase the number of visitors to Silverthorne STRs increase the tax base by collecting and paying sales and lodging taxes»» Guests of STRs frequent local businesses, increasing the community s revenues STRs do not benefit the Community STRs Benefit the Community

6 NEGATIVE IMPACTS OF STRs Short Term Rentals (STRs) reduce the available pool for long term rentals Reduced long term rental pool causes increase rents Trash, noise, and parking problems can be generated from visitors who do not practice good neighbor relations A prevalence of short-term vacation rentals in a neighborhood can change the character of the neighborhood STRs negatively affect the Community STRs do not affect negatively affect the Community

7 THE SHORT TERM RENTAL INDUSTRY IS EXPLODING 15x growth since 2008 From 0 to 35,000 new listings added per month in 9 years Airbnb s Market Value is now Higher than the Value of any Hotel Chain

8 STRs IN COLORADO AND THE STATE S UNIQUE CHALLENGE There are more than 44,000 STRs in Colorado, and they are heavily concentrated in a few Colorado cities and Resort Areas Jurisdiction This Means that: # of Short Term Rentals Denver 4104 Summit County 3702 Breckenridge 2821 Steamboat Springs 1754 Eagle County 1654 Colorado Springs 1560 Vail 1528 Boulder 1339 Grand County 1258 Telluride 1023 La Plata County 852 Estes Valley Development Code Area 794 Aspen 780 Mountain Village 767 Frisco 758 Archuleta County 722 Beaver Creek 705 Winter Park 685 Boulder County 682 TOTAL TOP 20 27,428 Source: Host Compliance % of Colorado s Short Term Rentals are located in just 20 Colorado Cities and Counties

9 Short Term Rentals Community Open House WELCOME!!!!!! Help Us Shape Silverthorne s Future August 21, 2018