Colorado Springs Short-Term Rental Alliance

What makes a short term rental property or vacation home different from a hotel? Lots of things, but primarily, it is the experience. Make sure that you have a personalized welcome email. It should include the check in time, directions to the property, entry instructions, and contact information. Address your guest by their first name and let them know that you are available to help if needed. Many times a bad situation can be salvaged with good communication and still result in a positive review.

One of the most valuable resources to help you in successfully running a short term rental is travel experience. Make sure that you are staying in short term rentals when you go on your own vacations and take notes. Replicate the "best amenities" that you find in your own properties. For example, we went on a trip to Seattle and stayed in a condo with our kids. The owner had a Keurig and it was stocked with coffee, tea, and hot chocolate. We didn't have to go searching for a coffee shop that first morning (huge for us as parents), and our kids were in heaven with the hot chocolate at night. We have since put a coffee bar in every house and we regularly receive comments about it. Little things make all the difference. BONUS: TALK TO YOUR ACCOUNTANT. Some of your travel expenses may be deductible.

Good advice and information on HOAs. When searching for investment properties, or when determining the viability of short term rental with your current property, the first thing you'll need to do is to determine if there is an HOA and if so what their rules are. http://www.denverpost.com/2008/09/19/9-things-you-need-to-know-about-homeowners-associations/ https://www.colorado.gov/pacific/dora/hoa-related-state-and-federal-laws

As of February, 2017, AirBnB will collect and remit all taxes on your behalf. So, how does this work? First, you will need to set up a tax account to associate with your listing. This will require an EIN number if you have a LLC, or your social security number if you do not. With every reservation made through  www.airbnb.com , they will deduct the applicable taxes from your payout and remit them quarterly to the city an d state. You can see the deduction of these taxes in the transaction history of your hosting dashboard. At the end of the year, they provide you with a tax document that outlines what has been collected and you are ready to file! While other sites like  vrbo.com  have partnered with companies like Avalara to collect and manage STR related taxes, the fact that AirBnB does it automatically and at no additional fee, obviously gives them a leg up. Happy hosting! Airbnb To Start Remitting Sales, Lodging Taxes in Colorado  (Bloomberg)

Here is some basic information provided by the city to help you get started with your short term rental. https://coloradosprings.gov/planning/page/dab-405-short-term-rentals