With more rules than ever, It seems as though everyone is liable for something in recent years. Are you?
What is Eagle-Vail (EV)?
Before diving into rules, regulations, and beyond, it’s important to understand the area we’ll be focusing on. If you’re already familiar, skip ahead. EV is a larger, middle to
Rules, Regulations, and the certainty of Taxes
So you want to run some Short-term rentals in EV? It’s not as difficult as you may think. Since EV is not technically in Vail there are fewer restrictions and fees when it comes to running your operation. EV is “a quasi-municipal government, and unincorporated town, governed by a Board comprised of five Directors elected by the homeowners and residents of EagleVail.” (eaglevail.org)
Since EV is located in Eagle County, Colorado we have to begin by reviewing regulations at the state and county levels, but neither CO or Eagle County have any short-term rental specific regulations other than taxes! When operating any transactional business, including rentals, the State of Colorado charges a 2.9% sales tax. In addition to the state sales tax, Eagle County charges its own sales tax of 1%. The county also charges a “special” sales tax of .5% meaning the total state and county taxes to be paid add up to 4.4%. One thing to keep in mind when listing for short-term rentals is that most platforms automatically collect these.
Although taxes are the only regulations at the state and county level, there are more to be had on a city level. Technically, EV has no regulations on short-term rentals, but Avon does. Because EV runs as a municipality but is located within Avon, the lines get a bit blurry. There are a few perspectives on this — you may end up paying Avon’s standalone sales tax of 4%, but you may not depending on enforcement and location of your property. For example’s sake, Away Agents pays all taxes but has never received notice.
In addition to taxes, use common sense and play it safe! Things like bears getting into trashcans, noise complaints, plowing, and emergency instructions are all things to think about when running your own short term rental. Doesn’t sound like the gig for you? Ask us about management today!