All your Colorado real estate questions, answered.
Q. What is a short-term or mid-term rental?
A. A short-term rental property is one that is rented from 1-29 days, but always less than 30. A mid-term rental is a furnished rental that would be rented for 30 days or more. Both can be listed on AirBnB or VRBO. Mid-term rentals can also be listed on sites liked Furnished Finders and Zillow.
Q. What kind of mid-term rental clientele can I expect?
A. Clientele for these rentals would be traveling nurses, people re-locating to a new city and people who are able to work from anywhere.
Q. How are short-term and mid-term rentals different from traditional, long-term rentals?
A. Short-term and mid-term rentals are different from a traditional long-term rental in that they typically come fully furnished and with basic supplies like linens and toiletries. They require more management, mostly with cleaning between guests, but also earn anywhere from 2x-4x what a traditional long term rental would earn for monthly income
Q. How do I know which Realtor to choose?
A. Makek sure you’re using a realtor that understands all the short-term rental laws and regularions, as they can be very nuanced for each location. Your realtor should be able to help you evaluate short-term rental income and trends.
Q. How do I evaluate a short-term rental?
A. We use a software called Air DNA that provides us data on short-term rentals - their income and vacancy - and we provide you with comparable properties in the property to proejct how much a home you are looking at might earn in short-term rental income.
Q. What are the best places in Colorado to invest in short-term rentals?
A. We see the best returns in suburbs around the Denver area that have short-term rental-friendly regulations. Arvada, Wheat Ridge, Centennial, and Unincorporated Adams County
Q. How much work is it to manage a short-term rental?
A. It’s surprisingly easy once you get it set up. I spend less than an hour a week managing each of my short-term rentals using tools like automated messaging, pricing, and cleaning services. But you always have the option to clean yourself if you would like to keep the additional income.