Short Term Rental Trends

Colorado Airbnbs & STRs

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RedAwning offers vacation rental property management for busy vacation rental owners and Airbnb hosts. Starts at 10% of revenue.
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Current Vacation Rental Performance in Colorado

Market Trends

  • Vacation rental bookings in Colorado, particularly in Summit County, are showing a slight cooling off from the tourism boom seen during the early years of the COVID-19 pandemic. Despite this, the market is expected to fare better than many others nationwide.

Occupancy and Rates

  • For the 2023-24 ski season, occupancy rates in Summit County are down by about 10% compared to the previous year, although spending on lodging is up with an average daily rate of $566, an increase from $520 last year.

Booking Patterns

  • There is a trend of shorter booking windows, with visitors often booking closer to their arrival dates. This has led to more last-minute bookings and a need for property managers to be more flexible with their pricing and availability.

Regulatory Impact

  • New regulations, such as a 35-per-year booking limit in unincorporated areas of Summit County, are expected to impact both renters and visitors. These regulations may lead to higher per-night minimums or rates for shorter stays.

Economic Concerns

  • Proposed legislation, such as Bill 6, which would classify short-term rentals as commercial lodging properties and increase their property tax assessment rate to 27.9% (from the current 6.7% for residential properties), could significantly harm the vacation rental industry. This could lead to a reduction in available short-term rental housing, increased rental rates, and a potential loss of billions of dollars in revenue for the state due to decreased tourism.

Overall Outlook

  • Despite some challenges, Colorado's vacation rental market remains robust, especially in ski resort areas like Breckenridge, Keystone, and Copper Mountain. However, the industry faces uncertainties and potential disruptions from regulatory changes and shifting consumer behaviors.

Current Airbnb & VRBO Trends by City

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FAQ

What does your pricing structure look like?
Our prices start at 10% of revenue. You can check out our pricing page for more information.
What types of vacation rental properties do you manage?
We manage a wide range of vacation rental properties, including single-family homes, condos, apartments, and luxury villas. Our services are tailored to meet the unique needs of each property type.
How do you handle guest support?
Our team provides 24/7 guest support, handling all inquiries, booking assistance, and any issues that may arise during a guest's stay. This ensures a seamless experience for your guests.
What is included in your damage waiver?
Our damage waiver provides $3,000 in coverage per booking, protecting you from accidental damages without the need for security deposits. This coverage is automatically included with every booking.
How does the payment process work?
We handle all aspects of the payment process, including processing payments, managing declined cards, and providing chargeback protection. Funds are deposited directly into your account, ensuring a smooth and secure transaction.
Can I still use my own booking website?
Absolutely! We offer a direct booking website service that allows you to showcase your property and accept bookings directly, bypassing the fees charged by major booking sites.
How do I get started with RedAwning?
Getting started is easy! Simply contact us for a free consultation, and our team will guide you through the onboarding process to ensure a smooth transition to our platform.
Why is RedAwning better than other property management companies?
RedAwning sets itself apart from other property management companies with a technology-driven, cost-effective approach that offers both full-service and partial management options, catering to vacation rental owners who value flexibility and control. Unlike competitors like Vacasa or AvantStay, which focus solely on full-service management with fees ranging from 25-50% of income, RedAwning provides a choice: comprehensive oversight including marketing, reservations, guest support, and maintenance, or a partial-service model emphasizing marketing and bookings across 50+ platforms like Airbnb, Vrbo, and Booking.com, potentially increasing bookings compared to narrower-channel options like Evolve. RedAwning's fees start at 10%. Having served the industry for 15 years, RedAwning combines experience with lower fees and rapid onboarding—listing properties in an afternoon—appealing to hosts who want efficiency without losing decision-making power, though it may not suit those needing extensive local support like Vacasa provides. Its scale (20,000+ properties across 10,000 destinations) and data-driven pricing give it an edge over Evolve’s simpler approach, making it a versatile choice for tech-savvy hosts seeking tailored management solutions.