For many luxury buyers, a Summit County home purchase represents an investment opportunity where the cost and maintenance of the real estate is offset by vacation rental income.
But for others, Summit County represents a true respite… a place of peace and seclusion where they can meet other likeminded full-time residents and second homeowners and create lasting friendships with community members and neighbors as they enjoy their mountain home.
For these buyers, the return on investment is derived from any gain in appreciation, the potential tax benefits, and the lifestyle and memories they enjoy as their real estate increases in value over time.
While the majority of Breckenridge and Summit County neighborhoods allow short term rental activity, some neighborhoods restrict it or disallow it entirely – aiming to create the peaceful getaways that some buyers are specifically looking for.
Why would a luxury subdivision restrict short term rentals?
In our luxury home market, the best vacation rental management companies do a very good job of vetting the prospective renters of a home – to protect your investment. However, there exists the potential for noise and additional traffic when large groups gather in one location. And when these groups change from week to week, the impacts can be unpredictable.
How does a luxury subdivision restrict short term rentals?
A subdivision’s HOA documents – more specifically its Declaration of Covenants, Conditions and Restrictions, also known as the HOA’s Declarations or CC&Rs, will lay out the guidelines for the community, including, any restrictions on short term rentals, if any such restrictions are in place.
In Breckenridge and Summit County, when these restrictions exist, they tend to be highly specific. In Highland Meadows, for example, the HOA declarations specifically state that a lease can be no shorter than 4 months and there can be no more than 2 leases in any given year.
Are these short term rental restrictions enforced?
Like any association rule, enforcement will vary with the HOA – its membership and its leadership.
You may even notice VRBO listings with homes for rent in some of these neighborhoods. But whether or not a rule is enforced, it’s essential that you know the rules that govern a community before you buy, as enforcement can change at any time – and so, for that matter, can the rules if enough community members wish to change them.
In any offer we would write on a luxury home, we would make sure to have a contingency for the review of Association Documents.
With this contingency, you have a predetermined length of time to look over the association documents in their entirety (from declarations to financials and meeting minutes), and you would be granted the ability to terminate the contract and get your earnest money back if you were to find anything objectionable in these association documents, including the restriction or allowance of short term rentals, provided you made such an objection before the predetermined deadline.
To that end, it’s very helpful to read the minutes of the Association meetings, both board meetings and member meetings, so you get a sense for what the hot buttons are in the association. You may find some members wishing the restriction would be taken away – or that an additional restriction be put in place.
This is something we’ll talk more about as we get further into the process – along with other contingencies designed to protect you, as the buyer.
Which subdivisions in Summit County restrict short term rentals?
It can be difficult to keep track of the restrictions over time, as each is governed by individual HOAs and their corresponding documents. Some neighborhoods have a number of homes that are deed restricted against short term rentals and others that are not. Some neighborhoods, such as Angler Mountain Ranch in Silverthorne, restrict such rental activity in some filings but not in others.
Among the Summit County subdivisions where there is at least some degree of restriction:
In Silverthorne, Snowbird Condos, Spyglass at Wildernest and Hideaway Townhouses. In Dillon, Glen Cove Townhomes and Soda Creek Condos, as well as Whispering Pines Ranch and Soda Creek at Lake Dillon PUD, both of which restrict rentals to 30 days or more. In Frisco, Cobblestone Condos. In Breckenridge, Highland Meadows, Farmers Grove, Powder Downs Townhomes, Juniata Subdivision, Kingdom Park Townhomes, and Kenington Place Townhomes.
In addition, Summit County’s many deed restricted neighborhoods, discussed here, allocate most if not all of their properties for the local workforce, defined as individuals working 30 or more hours per week in Summit County, so short term rentals are disallowed here, as well.
Please note that this is not an exhaustive list of properties that restrict short term rentals. Restrictions on short term rentals is always an important topic to investigate when purchasing resort real estate, and the best Summit County luxury realtors will know the ins and outs of this topic.
This will be one of the first questions I ask you when we begin talking about Summit County real estate: Will you be renting the property when you aren’t here to enjoy it yourself? And if that answer is “no,” would you prefer a neighborhood where no one does?
Luxury Homes in Areas with Restricted Short Term Rentals
Here is more information on homes in luxury subdivisions where short term rentals are restricted in some way by the HOA. Note that some subdivisions define short term rental as those less than 30 days; others as less than 60 days or less than 6 months, or some other definition. Once you identify a neighborhood or home you are interested in, we will make sure to look at the fine print together.
At the end of this section, you’ll see the current listings in each of these subdivisions, gathered all in one place.
Highland Meadows is a lovely subdivision located in the heart of Summit County, between Frisco and Breckenridge, and Keystone and Dillon are just a quick drive over scenic Swan Mountain Road. These peaceful, sunny homesites (30 in all) boast tremendous views, some of Mt. Baldy and Mt. Guyot and others of Lake Dillon. According to the covenants in Highland Meadows, any lease must be four months or longer, with no more than 2 leases in a single year.
Highland Meadows Homes for Sale
Highland Meadows Land for Sale
Juniata is home to some of the most beautiful custom homes in Breckenridge, enjoying some of the most impressive views of the Ten Mile Range and Breckenridge Ski Resort. Main Street Breck is just 3.5 miles down the hill by car, and owners enjoy easy access to the town shuttle system as well as a wealth of hiking, biking, snowshoeing and cross-country skiing trails. Juniata features 21 properties on more than 80 acres with lots ranging from 1.2 acres to 8.2 acres. Peace and quiet, and no short term rentals per the HOA.
Juniata Homes for Sale
Juniata Vacant Land for Sale
The Ranch at Breckenridge
One of Breck’s best kept secrets, in my opinion. The Ranch at Breckenridge is a prestigious gated community offering larger homesites (many are 5+ acres) close to town – up the hill from Juniata – with fantastic views. Owners here enjoy seclusion, privacy and convenience. The covenants here are less restrictive when it comes to short term rentals. Owners can rent for a length of time equal to or greater than 30 days (so seasonal rentals are allowed, but not weekly rentals.)
The Ranch at Breckenridge Homes for Sale
The Ranch at Breckenridge Land for Sale
Willow Creek Highlands
At the top of the Willowbrook neighborhood in Silverthorne, Willow Creek Highlands is close to everything the north side of the county has to offer, yet it feels remarkably secluded. Many of the homes and homesites here offer tremendous views, and the Eagle’s Nest Wildernest area and trailhead are nearby.
Willow Creek Highlands Homes for Sale
Willow Creek Highlands Land for Sale
You might also enjoy:
Buying a Luxury Mountain Home: 11 Important Questions to Ask
Luxury Subdivisions in Summit County with Strong Short Term Rental Income.
Luxury Neighborhoods with no Short Term Rentals
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#S1003365 | Single Family Home
Listing Broker: Slifer Smith & Frampton R.E.
3 | 1
#S1005669 | Single Family Home
Listing Broker: Summit Resort Group
3 | 1
#S1005601 | Single Family Home
Listing Broker: Breckenridge Real Estate Group
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The information being provided is for the consumer's non-commercial, personal use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. The information provided is not guaranteed and should be independently verified. You may not reprint or redistribute the information, in whole or in part, without the expressed written consent of Summit Association of REALTORS®.
Summit MLS data last updated at December 12, 2017 5:38 AM MT