Airbnb & VRBO Performance in Lakewood Colorado.

Short-Term Rental Regulations in Lakewood, Colorado for 2024

Licensing Requirements

• All short-term rentals must be licensed to operate legally. Fines for unlicensed rentals can be up to $5,000.

Eligibility

• Short-term rentals are only allowed in the primary residence of the homeowner. Properties that are not primary residences are not eligible for short-term rental licenses.

Documentation and Application

• Hosts must submit documents including proof of primary residence, proof of ownership, proof of insurance, a floor plan of the proposed space, and private rules or covenants (if applicable).
• An affidavit of ownership and primary residence, and an affidavit of compliance with Lakewood municipal code, both signed and notarized, are required.
• A completed and signed inspection report by an ASHI-certified inspector is necessary.

Inspections

• Properties must be assessed by a qualified inspector to ensure compliance with safety and habitability standards. This includes having up-to-date fire extinguishers, operable carbon monoxide detectors, and smoke detectors on each floor. Basements with living/sleeping areas must have sufficient means of egress.

Tax Obligations

• Hosts must collect and remit state, county, and city sales taxes on short-term rental transactions. This includes a 3% Transient Occupancy Tax and a 3% Accommodations Tax to the City of Lakewood.

Community Notification

• Hosts must notify neighboring properties about the short-term rental operation.

Other Requirements

• Hosts must register with the Colorado Department of Revenue for tax purposes and may need to register with local tax authorities.
• Proof that the hosting platform (e.g., Airbnb, VRBO) is collecting sales and lodging tax on behalf of the host is required.

Enforcement and Compliance

• Lakewood strictly enforces short-term rental rules, with active monitoring and significant penalties for non-compliance.
• A non-refundable application fee of $150 is required as part of the licensing process.

Review and Evaluation

• The new regulations include a required review in 2024 to assess what is working and what is not.

Top Neighborhoods for Airbnb Revenue in Lakewood, Colorado

Why These Neighborhoods Are Appealing

Here are the top neighborhoods in Lakewood, Colorado, that generate significant Airbnb revenue, along with reasons why they are appealing to guests:

1. Red Rocks Amphitheatre Area

• Appeal: Proximity to the famous Red Rocks Amphitheatre, a major concert venue and tourist attraction. Guests can enjoy stunning natural scenery and easy access to hiking trails.
• Revenue Potential: High demand due to the amphitheatre's events and the area's natural beauty.

2. Belmar

• Appeal: Belmar is a vibrant downtown area with shopping, dining, and entertainment options. It offers a lively atmosphere and easy access to various amenities.
• Revenue Potential: Central location and diverse activities make it a popular choice for guests.

3. Bear Creek Lake Park

• Appeal: This area is known for its outdoor recreational opportunities, including hiking, biking, and water sports. The park's scenic beauty and recreational activities attract nature lovers.
• Revenue Potential: High demand from guests seeking outdoor adventures and scenic views.

4. Colorado Mills

• Appeal: An outlet mall with a variety of shopping and dining options. It is also close to other attractions like the Lakewood Cultural Center.
• Revenue Potential: Attracts shoppers and families looking for a convenient stay near retail and cultural activities.

5. William F. Hayden Green Mountain Park

• Appeal: Offers extensive hiking trails, scenic views, and picnic areas. It is a favorite among nature enthusiasts and those seeking outdoor activities.
• Revenue Potential: High demand from guests interested in hiking and exploring natural areas.

6. Lakewood Cultural Center

• Appeal: A hub for cultural events, performances, and exhibitions. Guests can enjoy a rich cultural experience and easy access to other local attractions.
• Revenue Potential: Attracts guests interested in arts and culture, as well as those attending events at the center.

7. Rocky Mountain Beer Company

• Appeal: Known for its craft beer and dining experience. This area is popular among foodies and beer enthusiasts.
• Revenue Potential: High demand from guests looking to enjoy local cuisine and craft beer.

8. Casa Bonita

• Appeal: A unique dining experience combined with entertainment, including cliff divers and arcade games. It is a popular spot for families and those seeking a fun, quirky experience.
• Revenue Potential: Attracts families and groups looking for an entertaining stay.

9. Denver Federal Center

• Appeal: Convenient for business travelers and those visiting the federal center. It also offers easy access to Denver and other nearby attractions.
• Revenue Potential: High demand from business travelers and those with official visits to the federal center.

These neighborhoods are appealing due to their unique blend of natural beauty, cultural attractions, and convenient access to amenities, making them highly profitable for Airbnb hosts in Lakewood, Colorado.

Furnishing and Design Tips for an Inviting Airbnb in Lakewood, Colorado

Define Your Property's Aesthetic

• Align your furniture and decor with the local style, which often includes a mix of modern, rustic, and mountain-themed elements to reflect Lakewood's natural beauty and outdoor recreational opportunities.

Understand Your Audience

• Cater to the needs of families, adventure seekers, and business travelers by providing amenities such as modern kitchens, spacious living areas, and comfortable workspaces.

Choose Timeless and Durable Furniture

• Opt for sturdy, easy-to-clean furniture. For example, select solid beds with storage, sofas with washable covers, and dining tables that are resistant to wear and tear.

Utilize Smart Storage

• Incorporate beds with drawers, wall hooks, pegboards in the kitchen, and stackable containers to maximize space and keep the area tidy.

Enhance Natural Light and Space

• Ensure there is plenty of space to move around and do not block natural light sources. Use mirrors to make the space feel bigger and brighter.

Provide Essential Amenities

• Equip your kitchen with essentials like a coffee maker, microwave, toaster, and kettle. Include basic cookware, utensils, and dinnerware. Don’t forget a hairdryer, basic toiletries, and a first-aid kit.

Create a Welcoming Atmosphere

• Use high-quality, durable towels in neutral colors and provide ample storage for guests' toiletries and personal items. Add plants to liven up the space.

Incorporate Local and Natural Elements

• Reflect the local vibe by incorporating natural materials such as wood and stone into your decor. Consider adding local artwork to enhance the guest experience.

Ensure Comfort and Functionality

• Provide comfy, lightweight chairs and a sturdy desk with good lighting and easy access to power outlets. High-speed internet is crucial for business travelers and digital nomads.

Consider Accessibility

• Make your Airbnb accessible to guests with disabilities by including features like ramps, wide doorways, and grab bars in bathrooms.

Add Statement Pieces

• Invest in statement pieces such as a stylish sofa, coffee table, or dining room table that define your space and can justify a premium pricing strategy.

Maintain Consistency

• Stick to a consistent theme and color scheme, especially with items like sheets and towels, to create a cohesive and welcoming environment.

Discover Lakewood, Colorado: Local Attractions and Insider Tips

Local Attractions

Parks and Outdoor Activities

• Bear Creek Lake Park: A 2,600-acre park featuring a large fishing lake, paved and dirt biking and hiking trails, picnic areas, and a summer water-skiing concessionaire. Guests can also camp here in tents, RVs, cabins, or yurts.
• William Frederick Hayden Park (Green Mountain): Offers day hikes, bike rides, and pet-friendly trails with scenic views of the Rocky Mountains.
• Crown Hill Lake and Jefferson County Open Space: Additional areas for hiking, biking, and enjoying the outdoors.

Cultural and Arts

• Lakewood Cultural Center: Boasts a 300-seat theater, gallery space, and art classrooms. Check out the annual LCCPresents Season for dynamic music, dance, and theater performances.
• 40 West Arts District: Features over 20 public art installations, multiple performing arts venues, and a dozen galleries along the West Colfax Corridor.
• Heritage Lakewood Belmar Park: A 20th-century museum and festival grounds with several historic buildings and a popular outdoor amphitheater.

Shopping and Dining

• Belmar Shopping District: A vibrant area with outdoor shopping, dining, and entertainment. Includes a Cinemark Theater, Dick’s Sporting Goods, Whole Foods, Best Buy, and over 20 restaurants and eateries.
• Colorado Mills Outlet Mall: A mixed-use shopping center for those looking for deals and a variety of retail options.

Golfing

• Fox Hollow Golf Course and The Homestead Golf Course: Two municipal golf courses offering nine-hole configurations with beautiful vistas and wildlife.

Nearby Landmarks

• Red Rocks Amphitheatre: A world-famous outdoor music venue just a short drive away.
• Dinosaur Ridge: A renowned paleontological site with dinosaur fossils and tracks.
• Bandimere Speedway: For drag racing enthusiasts, located nearby.

Insider Tips

Events and Festivals

• Lakewood Earth Day Celebration (April): Celebrate Earth Day with live entertainment, food, and activities.
• Trout Fishing Tournament (May): Participate or watch the annual tournament at Bear Creek Reservoir.
• INSPIRE Arts Week (May): Explore the arts with discounts and special events at over 20 locations.
• Rockin’ Block Party (June): Kick off summer with a community block party featuring food trucks and an outdoor movie screening.
• SoundsExciting Summer Concert Series (June-July): Enjoy weekly live outdoor music in an amphitheater setting.
• Big Boom Bash (July): Celebrate the 4th of July with a community-focused event.
• Cider Days (October): Lakewood’s fall festival with live music, food trucks, and vintage tractors.

Local Favorites

• Fishing Spots: Bear Creek Reservoir, Smith Reservoir, Kendrick Reservoir, and others offer various fishing opportunities.
• Hiking Trails: Besides Green Mountain, Wright Park and Dakota Ridge Trail are great spots for hiking and biking.

Getting Around

• Light Rail Service: Easily accessible from Union Station in Denver, making it convenient to explore both Lakewood and Denver.

By sharing these attractions and insider tips, you can help your Airbnb guests make the most of their visit to Lakewood, Colorado.

Practical Tips to Run a Successful Short Term Rental Business in Lakewood, Colorado

To ensure the success and compliance of a short-term rental business in Lakewood, Colorado, several practical tips can be implemented:

Noise Regulations and Guest Communication

Inform your guests about quiet hours and noise regulations to avoid any potential issues with neighbors. Include clear guidelines in your digital and physical house manual, emphasizing the importance of respecting the community.

Comprehensive House Manual

Create a detailed digital and physical house manual that includes essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact information. This manual should be easily accessible to guests, either through a digital link or a printed copy left at the property.

Simplified Check-in Process

Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with clear instructions on how to access the property, along with photos and videos to help them navigate any specific steps.

Parking Instructions

Include detailed parking instructions with photos in your house manual to ensure guests understand where and how to park. This can help prevent parking issues and maintain good relations with neighbors.

By adhering to these tips, you can enhance the guest experience, maintain compliance with local regulations, and ensure a smooth and successful operation of your short-term rental business in Lakewood, Colorado.

Here is a brief list of house cleaning providers in Lakewood, Colorado:

House Cleaning Providers in Lakewood, CO

Ginger Maids Cleaning Services

• Offers comprehensive house cleaning, including mirrors, windows, ceiling fans, baseboards, appliances, and furniture.
• Professionally trained and vetted staff.
• Transparent pricing and green-friendly products.

Summit Cleaning

• Provides top-quality house cleaning, maid services, and specialized services like deep cleaning, move-in/out cleaning.
• Offers a 24-hour guarantee to address any concerns.
• Encourages customers to explore local attractions while they handle the cleaning.

Mountain Meadow Maids

• Offers a wide range of cleaning services including mopping, sweeping, vacuuming, and disinfecting countertops.
• Provides free estimates for their services.

Merry Maids of Lakewood

• With 40 years of experience, offers expert cleaning services to handle thorough home cleaning.
• Provides free estimates and relies on a reputation for quality service.

Molly Maid of Denver West

• Offers customized maid services tailored to meet specific home needs.
• No contracts and a 24-hour warranty.
• Provides free estimates and focuses on delivering a clean and tranquil living space.

Short-Term Rental Management Fees in Lakewood, Colorado: A Comprehensive Guide

In Lakewood, Colorado, managing a short-term rental property can incur management fees that typically range from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum. For instance, companies like PMI Lakewood Metro and Summer offer comprehensive packages that include coordinating bookings, responding to inquiries, managing check-in and check-out, and overseeing cleaning and property maintenance, often charging around 20% to 30% of the rental revenue.

Basic services, which may only include listing and booking management, can be less expensive but still significant. Additional fees can apply for services such as cleaning, repairs, and design, further impacting the overall cost. For example, Summer charges a cleaning fee that is passed on to guests, and there may be consumables fees to cover items like linens and toiletries.

Understanding these fees is crucial for property owners to ensure they comply with local regulations, such as the requirement for annual licensing and adherence to specific guest limits, while also maximizing their rental income.