DENVER REALESTATE ECONOMY: Brief-term leases are making a comeback in Denver

by: Shaul Turner, Maris Westrum

Posted: May 26, 2021 / 9:38 AM MDTUpdated: May 26, 2021 / 8:16 p.m. MDT

DENVER (KDVR) – Denver short term rentals are growing in popularity after a difficult year sparked by the pandemic.

According to the city and county of Denver, short-term rental licenses fell more than 20% in 2020 due to the rise in COVID-19. This year, however, the buyer is already optimistic. Local short-term rental licenses are up 4%, with more expected to come this summer.

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Buyers in the Denver real estate market want more income as interest rates remain low. Many of these buyers have turned to short term rentals for that extra income.

“There are a lot of people who love to come to Denver, it’s a great tourist attraction,” said Kevin Abruzino, owner of KGA Properties in Denver.

Abruzino told problem solvers that tenants are looking for properties close to downtown attractions or with easy access to the highlands.

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According to KGA Properties, patience and flexibility are key to buying short-term rental properties in the Denver area. Some homeowners are even converting garages and carriage houses into rental space.

For those considering a short term Denver rental, the city and county of Denver recently required a license. Failure to acquire a license could result in a $ 999 fine. A short-term landlord’s primary residence must be used for listing.

A short-term rental license can be withdrawn if serious health and safety violations are reported.

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