Short-term rental experts explain industry s impact on Summit County s affordable housing issue summitdaily.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from summitdaily.com Daily Mail and Mail on Sunday newspapers.
Photo by Tripp Fay / Tripp Fay Photography
Summit County continues to make a steady comeback in its sales tax collections as the local economy rebounds from the pandemic. Though significant growth is still happening, recent sales tax reports show that collections from short-term lodging, hotels and inns stalled slightly during May in some areas.
According to Frisco’s sales tax report, the town’s collections for the month were up 45% compared with May 2020, which is a slight dip compared with sales tax collection growth the month before. The town’s April report showed its collections were up 55% compared to the same month in the prior year.
Photo by Liz Copan / Studio Copan
A petition is circulating around Frisco to restrict short-term rental units as one resident’s effort to address a lack of affordable workforce housing.
James Hayes Walsh announced his intention to start a petition to prohibit short-term rentals for single-family homes, except when the home rented is a person’s primary residence, at a Frisco Town Council meeting in early June.
“I’m trying to, through direct initiative, pass an ordinance that will prioritize locals for single-family home rentals,” Walsh said. “If somebody can finance a house to help subsidize their mortgage because they’re living there and turning the rooms over and getting a high return, that’s great, we want that. If an investment group can come in, buy a house, pay a management company to do short-term rentals … for five to 10 years then flip the property for a profit, that’s bad.”
Photo by Tripp Fay
This time last year looked very different. Fourth of July parades were canceled, social distancing and masks were in full effect and some towns went as far as not planning any celebrations at all.
The limited celebrations and travel restrictions made for an unconventional summer in Summit County, but this year paints a very different picture as about 74% of Summit County’s population is fully vaccinated and 82% have received at least one dose, according to Summit County’s website
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The reopening of the community earlier this spring gave the local lodging industry more time to prepare for the hordes of visitors expected this summer, Toby Babich, president of the Breckenridge Lodging Association reported.
Summit County staff outlines strategies to mitigate affordable housing crisis skyhinews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from skyhinews.com Daily Mail and Mail on Sunday newspapers.