Here are the seven things you need to know about the new Denver Airbnb regulations going into effect on Jan. 1, 2017.
You must live in the place you’re renting out.
The primary residence restriction was the most contentious provision of the new measures. Essentially, this prohibits you from renting out a second home on Airbnb or VRBO. You can rent out a room while you’re staying there or the whole house while you’re traveling.
One key for those looking to invest: You can NOT rent out the other half a duplex you own, but as reported in the Denver Post, if you're a house-hacking type, you can rent out a furnished basement, attic or mother-in-law suite.
(Looking to buy an Airbnb investment property in Denver?)
You must pay a $25 fee
If you’re going to rent out your home, you’re going to need a $25 license from the city. The license must be renewed annually, and your license number must be displayed in your ad.
You can host even if you’re a renter, BUT …
Yes, if you’re renting an apartment or condo, and it is your primary residence, you may apply for a license. But you must show written proof of the landlord’s approval.
This also means that if you're a landlord and sign a lease with a long-term renter, you may make arrangements with that person to apply for the permit and share short-term rental profits.
You must pay Denver’s lodging tax.
You have to sign up for a lodging tax number and pay the 10.75 percent tax that hotels also pay.
You must comply by January 1, 2017.
The city will implement a “soft” enforcement period up until then, largely focusing on education of residents about the new regulations. Come 2017, things get real.
You may be fined for non-compliance.
If you’re caught advertising without a license number or hosting without a license, you are subject to a fine of up to $999.
You must provide some basic safety features.
Under the new rules, hosts are required to keep in their homes a smoke alarm, carbon monoxide detector, fire extinguisher, and a brochure listing the name and contact information for a local resident available if you’re going out of town.
You'll find everything you need to know to be a successful Airbnb host on my Airbnb page.