Many Colorado cities, just like HOAs, are considering regulating short term rentals. The Colorado Springs Gazette recently reported on the impact of short term rentals in both Manitou Springs and the Springs. Manitou currently has a moratorium in place on new short term rental licenses until it enacts new rules, which it aims to do in November 2015. In Colorado Springs, owners who rent short term must get a sales tax license and collect both sales and lodging tax for each stay less than 30 days.
The Colorado Springs Gazette article reviews, from a city’s perspective, the benefits and drawbacks of allowing short term rentals in residential neighborhoods. HOAs should also consider those same benefits and drawbacks, and others, when evaluating whether to regulate short terms rentals in the community. For more information on what an HOA can do to regulate short term uses, contact an attorney at our office.