Wondering what happened to SB33, the bill in the Colorado Legislature aiming to quadruple property taxes on short-term rentals, which we informed you about in January? We’re wondering, too! 

In February, members of the VRC team participated in an event at the Colorado Capitol to discuss the adverse effects SB33 could have on vacation rentals and the state's economy with lawmakers. Due to the significant presence of property managers, owners, and hosts, the Senate Finance Committee postponed SB33's hearing to reconsider it and revise the bill’s proposed language.

Based on the information we have received to date, the proposed revisions include extending the allowable rental nights from 90 to 180 and introducing an income-based assessment option alongside the current property value-based one, we also expect additional amendments and changes before the final version is adopted. While these changes address our main concerns with SB33, we won't be disappointed if the bill doesn't resurface this legislative session.

Take a look at this infographic illustrating the advantages that VRC-managed short-term rentals offer to the Colorado economy.

Using Your Owner Statement as a Resource

Your final Owner Statement for 2023 reflects your unit's performance for the entire year and can be given to your tax accountant for tax purposes.

Please reference the Year-to-Date Total Column on your December 2023 statement (see example below), as it reflects your home’s income and expenses for the entire year.

Airbnb is updating its policy on the use and disclosure of security cameras, recording devices, noise decibel monitors, and smart home devices for all Airbnb listings.

Listings that don’t comply with the new rules calendars blocked from future bookings, or the listings may be removed from Airbnb under the policy.

Please let us know if you have interior or exterior cameras, including Ring Cameras, at you’re property that we’re not aware of by filling out the form below so we can ensure your listing remains in compliance with the new rules. As outlined in our owner agreements, we don’t allow interior cameras.

Starting April 30, 2024, these rules apply to the presence of these devices, even if they’re turned off:

• Hosts are not allowed to have cameras that monitor indoor spaces.

• Hosts must disclose the location of outdoor cameras. For example, “I have cameras monitoring the front door and the pool.”

• Outdoor cameras are prohibited in spaces where guests expect greater privacy, like enclosed showers and saunas.

• Hosts must disclose noise decibel monitors, which may only be present in common spaces.

• Hosts can have smart home devices like TVs and voice assistants, but aren’t required to disclose these devices, but we encourage you to tell guests that you have them and how to turn them off.

• These requirements don’t apply to devices in common spaces outside your home that you don’t control, like cameras in the lobby of an apartment building.