BRECKENRIDGE, Colo. (PRWEB) May 06, 2018
A new article from the Summit Daily News in Summit County, Colo., sheds light on the economic benefits short-term rentals provide to the area. In the article, titled “Millions Are at Stake in Short-term Rental Debate, Company Says,” reporter Eli Pace cites a study released by local property management company Summit Mountain Rentals that outlines the economic impact of vacation rentals in Summit County communities:
- In 2017, the Town of Breckenridge collected a total of $563 million in net taxable sales.
- Of that total, $147 million — more than one fourth — came directly from short-term lodging.
- Breckenridge vacation visitors contributed $442 million to the local economy between lodging and other purchases in 2017.
In nearby Frisco, Colo., the analysis suggests that short-term rentals had a total impact of $228 million on the local economy in 2017.
So what’s the point of the study?
“Vacation rentals are a huge benefit to the local economy,” said Reid Tulley, marketing communications manager with Summit Mountain Rentals. “As local governments consider regulations on short-term rentals, we want to be part of the conversation and offer our expertise as professional property managers.”
Tulley says that companies like SMR welcome thoughtful regulations on short-term rentals. In the article, he cites a recent study that found “over 98 percent of the 3,526 short-term properties in town were complying with its rules and collecting the 3.4 percent lodging tax.”
"We’d like to see all municipalities collecting 100 percent of taxes due from short-term rentals,” said Tulley. “We truly believe that professional property-management companies are local governments' best friends and allies in ensuring tax compliance and adherence to local regulations.”
Read the Summit Daily News article: Millions are at stake in short-term rental debate, company says
Read the Summit Mountain Rentals report: Economic Impact of Short-term Rentals in Summit County
About Summit Mountain Rentals
Summit Mountain Rentals, voted “Best Property Management Company” company in Summit County seven times, offers Summit County visitors more than 200 lodging choices in Breckenridge and Frisco, from luxurious mountain homes (with sleeping for up to 22 guests) to boutique condominiums. For reservations or additional information, call Summit Mountain Rentals at 1-800-383-7382 or visit http://www.summitrentals.com