STR stands for Short-Term Rental (stays that last less than 30 days). Popular companies that connect renters to potential living locations include AirBnb or VRBO.

 

 

 

 

 

 

 

 

 

 

 

 

With higher interest rates, it’s more difficult to find investments that create income from real estate. Short-term rentals are a great option to help subsidize your monthly mortgage payment at your primary residence. In some areas, you can use short term rentals as an investment property. There are lots of regulations but they vary between cities, towns, and counties. It’s important to beware of the regulations and stay up to date. Below is a list of what you should know about starting a short-term-rental opportunity depending on what communities you’d like to operate in around Denver County.

Typical Rules for STRs in Denver Metro

• Owners must obtain for short-term rental license
• Requires business license
• Display license for renters to see
• No parties
• Pay lodging taxes
• Only one renter at a time
• HOA typically don’t allow STR

Arvada

• One owner can operate up to THREE short term rental properties with the city
• STR can only be occupied for up to 240 days per calendar year
• Must submit a short-term rental log to the city for verification
• Property owners or long term renters (with owner’s written approval) can operate a STR

Aurora

• Must be primary residence

Centennial

• No gathering can have attendees greater in number than two times the relevant occupancy limit
• STR’s are not allowed in accessory dwelling units
• STR properties are required to provide (2) off-street parking spaces for renters.
• Centennial has an occupancy limit of 2 STR renters per bedroom, with 8 renters per property maximum.
• $150 annual fee, $50 one time fee

Denver

• Must be primary residence
• You are allowed to STR an ADU
• You cannot STR the main residence and live in the ADU

Edgewater

• Only rent 10 days or less per month and only 60 days or less per year
• Must be primary residence

Englewood

• Must be primary residence
• Maximum 2 adults per bedroom and 8 people with full occupancy
• minimum one off-street parking spot per bedroom – if unavailable may be allowed to utilize two on-street parking spaces.
• $500 annual fee

Golden

• $200 annual license fee
• Must be primary residence
• 1 off-street parking for single family residence
• 1 off-street parking for multi-family home less than 800 ft with 1 bedroom
• 1.5 off-street parking for multi-family home greater than 800 ft with 1 or 2 bedrooms, 2 spaces for each unit with 3 or more bedrooms
• An Accessory Dwelling Unit or one side of a duplex that is not a primary residence can be a short term rental if it is located on a lot containing a primary residence

Lakewood

• Must be primary residence
• Property owners or long term renters (with owner’s written approval)can operate a STR
• Requires at least one off-street parking space

Mountain View

• One or three year STR permit available
• Does not have to be your primary residence

Unincorporated Adams County

• Unregulated
• Haven’t passed any rules yet

Wheat Ridge

• Maximum number per STR host = 2 (one non-owner occupied and one owner-occupied STR)
• Notify neighbors within 100 yards of residence about short-term rental operation
• Must be 21 years of age
• Must include at least 1 parking spot

PRICE DROP

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1612 Elm St.

7 Bed | 6 Bath | 6,030 Sq. Ft. | NEW: $2,295,000

Flexible pricing & special financing opti

ons available!

*Another 100k price improvement, 300k off the original price* Welcome to 1612 Elm Street, a 6000+ sqft contemporary home in desirable South Park Hill. Quality is evident throughout this well-imagined new build that features five beds, six baths plus an office and gym. The ideal layout works well for a modern family in a neighborhood with top notch schools. Be captivated by the white oak floors, soaring 10′ ceilings and a custom wood/iron staircase with large windows that flood the dining room with natural light. Also on the main find a full bath and bright southwest office with built-in cabinets and glass french doors. The dining space opens to a chef’s kitchen featuring an eight burner gas range with double oven, 48″ refrigerator, single basin sink, shaker style cabinets, walk in pantry and ample seating at the 10′ quartz island. Next the kitchen opens to a family room with a stacked stone gas fireplace and more built-in cabinetry. The accordion doors lead the private back yard perfect lawn games or letting the pup roam. Stay organized in the generous mud room with quartz bench and separate exit to the new detached two car garage. The rare upstairs layout features an airy loft, generous laundry room, three bedrooms all with ensuite baths and a gorgeous private Master suite with a stunning 5 piece bath and massive walk-in custom closet. The basement is ideal for entertaining with a full wet bar, full bath, gym or office, additional bedroom, 4 egress windows and ample storage. A few of the additional amenities include prewire for televisions, solid core doors, dual furnaces & A/C and new gas line extending to the back porch for grilling. It’s easy to see why many consider South Park Hill, Denver’s top neighborhood with nearby City Park, the Nature and Science Museum, Denver Zoo, new City Park Golf Course, Marczyk Fine Foods, Benzina, Spinelli’s, Honey Hill, Long Table Brewhouse, Tables, Oblio’s Pizzeria and so much more!

Schedule a showing

 

 

 

Are you interested in learning more about ADUs – also known as Accessory dwelling units? These self-contained, smaller living spaces are an extension of existing property are exactly what Denver needs to help expand it’s housing opportunity. The city is making building ADUs very difficult instead of facilitating additional housing and density. There is hope! Right now we are in the midst of the political process to update the zoning code for ADUs. An incredibly smart, experienced, and articulate group of professionals on the ADU task force are working to rewrite the regulations. Kassidy is very optimistic that this is a huge opportunity to make ADUs a viable housing option to add needed housing in the community. Learn more about this in our latest feature in Denverite Magazine.

After working along side Kassidy for the past 1 and a half years, Abbey has big news to share about her next adventure. “I’m making the move back to my home state of Maine! While I will miss so many things about living in Colorado, a big part of the decision was my partner Jason and I’s desire to be near family after 15+ years of living in various places across the country. I’m excited for what the next chapter holds but sad to say goodbye to the Living Room family. A year and half ago when I was looking for a brokerage to join I was so fortunate to have Jason introduce me to Kassidy. I knew instantly that she was exactly the type of person I wanted to work with and would be a mentor who I could learn from and look up to. Thank you Kassidy for the knowledge, partnership and friendship. Thank you amazing clients who I had the privilege to work with and who trusted us with their home buying journey in this challenging market. This summer I plan to join a brokerage in Portland and continue my passion for real estate on the Maine coast.”

Before she left, she made one final sale and that was selling her home here in Denver. She is excited to share the process that she went through in being the seller. When Abbey decided to move back to Maine to be near family she had to make the tough decision about whether to rent or sell her four year old half duplex in Sunnyside. After giving it much thought she decided that she didn’t want to have a rental on the other side of the country and would sell so she could take the money to reinvest in real estate in Maine. In order to get the highest price she spent weeks decluttering, making small repairs and touching up the paint. She also staged two rooms so people could visualize how the spaces could best be used. All of the prep work paid off when during the coming soon period she got two strong over ask sight unseen offers. Knowing she needed to let showings happen the following week she stuck with her original timeline and didn’t accept. After 20+ showings she ended up accepting a much higher offer with great terms that gave her a free rent back though her move date in early June.

Every year, 5280 Magazine does a feature on Denver’s real estate market. Their feature for 2022 is titled, “13 Tips for Buyers Navigating Denver’s Real Estate Market” lists tips for home buyers in the Denver market. In a time where there is heavy demand and a lack of inventory, the article mentions that we are in a seller’s market, therefore it is even more important to understand proper navigation as a buyer. We’ve outlined their 13 recommendations and in the teal boxes added our comments.

1. Be ready to pay well over asking price

5280 sites the Denver Metro Association of Realtors’ annual market report, and extracts that last year’s close-price-to-list-price ratio averaged 104 percent for single-family homes and 105 percent for multifamily units.

2. Get your finances in order and then find a lender

5280 reminds us that before getting overly excited about the list of houses for sale, it’s important to be realistic about how much you can pay on a mortgage, down payment, and the loan you’ll receive.

3. Budget for interest rates to go this year

5280 highlights the interest rate’s reaction due to inflation cause them to rise and leaving buyers feeling precarious on the price of home they can truly afford.

4. Determine what you can live without

Compromises are important in relationships and 5280 parallels that to home buying because it is unrealistic to find a house with every aspect of one’s wishlist. But, they offer the alternative of using refinancing, home equity loans, or lines of credit to finally make those alterations through renovation.

5. Beware the risks of waiving contingencies

With the speed that houses are going off the market, 5280 has noticed that it leads buyers to forgo some of their rights and protection measures as a buyer. However, they remind us to understand the importance of these rights.

6. Understand the difference between FHA and conventional loans

5280 discerns between two types of loans, a federal loan from the FHA and a private loan known as conventional loans. They have different minimums for down payments, credit score requirements, and the lifetime of mortgage insurance.

7. Asses the value of new verse “vintage”

Buyers often have a vision for their house, either a traditional old home or a new build. There are trade offs for both. In older homes there is the risk of asbestos or lead-based pipes disguised by its classic charm. With a new builds there are building delays, upgrade charges, and additional expenses like blinds and landscaping that pile up.

8. Be Prepared

The front range has risk for natural disasters and that is an added factor that Coloradans should take into account when thinking about protecting their home.

9. Consider a condo or townhome if you’re a first-time homebuyer

Although many people have ideas about buying their first home and it being a detached residency, 5280 reminds buyers that the first home is about getting one’s foot in the door. Therefore, an excellent economic decision can be a condo or townhouse.

10. Find your perfect home – outside the Mile High City

The Mile High City is an expensive place to live and the cost of housing is rising, but there are great suburbs with low costs that still have great restaurants and neighborhoods. 5280 encourages finding those special nooks.

11. Find a champion in your agent

According to 5280, there are a variety of real estate agents to help in the home buying process. So it’s important to do research and find the proper agent that can find the best house for you.

12. Consider buying with friends or family

Although many people might consider buying a house with a significant other when it is time to settle down, 5280 hints at the benefits of buying houses with family or friends because that allows for the emergence of building wealth at an earlier stage of life.

13. Be creative when using your digital resources.

In the age of technology, 5280 shares ways to get involved with the home buying process through digital resources. They include a nice list of sites that go beyond the typical Zillow search to help ease the anxiety associated with buying a house.

Living Room Real Estate (@LivingRoomDEN) launched in January 2019. Prior to opening my own company, managing broker Kassidy Benson gained experience working as a real estate agent for four years at three other boutique brokerages. Three other licensed Realtors work at my brokerage – Abbey Puls (buyers agent), Michael Harry (investor focused), and Camille Ellis (new agent).  My intention is to grow a small team sustainably, hiring one new associate broker each year in order to provide exceptional mentorship and a tight work family. I need a support role to help me take on some of the tasks of client management, marketing listing, and supporting agents/clients through transaction. The ideal candidate is also an ambitious marketing pro who is tech savvy and very creative. This person will attract new buyers/sellers, educate the community about housing options, and communicate the Denver lifestyle. I’m seeking a person who can tell the story of our work. We pair people with the right place for a prosperous life. Our clients are absolutely exceptional and they deserve and expect highly personalized service. 

JOB TITLE: Operations and Marketing Coordinator

LOCATION  – This position can grow into a fully remote work from Denver career. Initially we will need to work together for the first 2 months and once more established in the role I would encourage you to work autonomously. You will need to be in the Denver area for various events, team meetings, and marketing local listings. Every Monday we do a Zoom/In-person meeting to get on the same page and have a successful week.

• Coworking Space: Sunnyside – 4045 Pecos Street, Denver, CO 80205
• Home Office: City Park – 2700 Jackson St, Denver, CO 80205

COMPENSATION

• Hourly rate $15 to $25/hr – depends on experience level
• Hours per week 20 to 40 hours – must be in office at least 10 hours per week  starting out, additional hours can be worked remote but will also entail running around Denver. Number of hours required per week will fluctuate with workload demands. 
• Annually pay between $14,400 ($15/hr 20 hr per week) to $52,000 ($25/hr, 40 hrs per week)
• Bonus opportunity: $100 bonus per home closed, goal is to close 4 deals per month which would be $4,800 in bonus income. If you are a licensed agent, you will get $50/ showing you perform for me or any associate broker at Living Room Real Estate.
• If  you bring in any buyers or sellers clients who purchase a home, you will receive a $1000 bonus per closing.
• Bonus income could equal an additional $16,800 if you bring in 1 closing per month

QUALIFICATIONS

• Problem-solving ability (food/beverage work experience is very valuable)
• Strong customer service skills 
• Receptive to instructions with a service mindset
• Positive can-do attitude
• Real Estate experience and license preferred, but not required
• Pro photo equipment and skills or a desire to learn real estate photography
• Strong written and verbal communication skills
• Strong brand voice and knowledge of marketing principles
• Must thrive at proofreading and catching errors
• Social media/marketing – specifically must know how to make Reels/TikToks and use Canva
• Ability to work in a team setting
• ORGANIZED and detail-oriented 
• Must use Google calendar, show up on time, and dress professionally
• Upbeat, energetic and go-getter personality
• Full of innovative ideas for making our clients feel valuable
• Trustworthy and reliable
• Has a computer (Mac strongly preferred) and vehicle
• Willing to drive all over town to run errands when needed

DUTIES/RESPONSIBILITIES

• Marketing: You thrive on executing our social media strategy and content calendar. You use the brand guide to create beautiful pieces of marketing, arrange and send content for our newsletter, and diligently post content to our blog and social media channels. 
• You know or learn real estate photography 
• You have the video editing skills to produce listing videos 
• Manage and post content on Instagram, Facebook, and LinkedIn.
• Scheduling: You will be the master of my calendar and be in charge of coordinating all property showings, client meetings, and scheduling affiliated professional services such as photos, staging, cleaning, etc.
• Communication: You will promptly return internal telephone calls, texts and/or emails. At each step in the buying and selling process, you will utilize templates and processes to send communication to clients.
• Events: Living Room Real Estate hosts four signature events per year. You will help plan, schedule, create marketing, handle client outreach, order food and beverage, setup, host, and clean-up each event.
• Business Appreciation: You will be in charge of mailing birthday cards,  ordering closing gifts, preparing mailings, creating and dropping off tokens of appreciation for clients, referral partners, and cooperating brokers. You will write thank you notes, birthday cards, and other special occasions cards.
• New Listing Conversations: You will be present for all listing consultations tours. This is your opportunity to meet our clients face to face who you will be helping. During the meeting, you will take notes about the home for the listing presentation. I will select 4-6 comps and you will help me create the listing presentation in Canva. After the listing presentation you will draft the listing timeline and schedule the photos, sign, and stager. You will help draft the listing descriptions, special feature cards, and listing flyers. You will drop off flyers and special feature cards at the listing before showings start and send out the reverse prospecting email.
• While I’m away from the office, you will be in charge of handling communication and other administrative tasks. 
• Showings: You will help finalize homes clients wish to view, schedule the tours, and print off showing information. If Operations Assistant has a real estate license they would occasionally be touring homes with clients.
• Accountability – You will help hold me and the broker associates at Living Room accountable to our monthly and annual goals.
• Attend weekly Monday 10am team meetings to learn and execute our teams weekly goals and marketing tasks
• CTMe Contracts – you add new clients, prep contracts as needed, and monitor contract deadlines.
• Document Systems – As you execute processes or create new systems you will be asked to document the processes.
• Errands – You drop off lockboxes, deliver property flyers, pick up closing gifts, deliver earnest money and make deposits to the bank. 

TO APPLY:

Please email me your resume and a cover letter. The cover letter should explain how your past work experience applies to this position and how it aligns with your long term goals. Once you email your resume and cover letter to Kassidy@LivingRoomDenver.com.  If you are a good candidate, I will need you to take the Meyers Briggs Personality test. If it feels compatible, I will want to schedule a phone call.   Before I offer the opportunity to a candidate, I’ll ask you to complete an assignment. If it seems like a good match, we will have a trial period of 2-4 weeks before an official job offer and contract. 

New listing in Chaffee Park

4835 Shoshone Street, Denver CO 80221

3 Beds /1 Baths / 1,414sF / $425,000  

                                                                                                 

Well maintained Cape Cod style 1.5 story home in Chaffee Park with a huge addition off the back and an oversized two-car garage. Built-in 1947 on a solid foundation and copper plumbing, boiler, evaporative cooler, and newer roof. Convert this 1,414 sf three bed/ one bath home into a 3/2 floor plan with a main floor master suite. The second floor has an extra space that will perfectly accommodate a second bathroom. Under the carpet, you will find pristine wood floors in the original part of the home. The front yard has sprinklers and grass. New paint and shutters would make the freshen up tho look! The back is fully fenced with plenty of concrete for additional parking. A huge selling point is the large 576 SF detached garage/workshop with heater plus large storage area. Chaffee Park has easy access to Highlands, Tennyson St in Berkley, and I-70 to get you to the mountains & foothills. It is a 10-minute commute to downtown and RiNo. Home is being “sold as-is” with all personal property. Opportunity for a professional investor or handy owner occupant ready to work for equity; Will qualify for conventional lending – No FHA or VA. After repair value (ARV) on this home is around $600K – 4926 Tejon – $620K in June and 5140 Tejon sold $609K in May. This property will be marketed for one week from Tuesday 11/2 until showings end on Monday 11/8 at 6pm. Please use this time to inspect, budget, and advise contractors and lenders. All offers are due on Tuesday 11/9 at noon with an acceptance deadline of Wednesday 11/10 at noon. Buyer agent commission offered or unrepresented buyers will save 1% off the purchase price. Per the Definitions of Working Relationships: A seller’s agent (or listing agent) works solely on behalf of the seller to promote the interests of the seller with the utmost good faith, loyalty, and fidelity. The agent negotiates on behalf of and acts as an advocate for the seller.