Short Term Rentals Allowed In Denver -- With Rules
DENVER (CBS4) - Homeowners who want to rent out their places on a short term basis just got the green light in Denver. It's a growing trend around the world.
John Krauklis has been renting his Denver home on Airbnb, Inc. for a few years. Krauklis says now the city has decided how to "regulate, tax it and license it."
The City of Denver will now allow the rental of primary homes for 30 days or less. People who oppose the measure say short term rentals have the potential of bringing in people who don't contribute to a neighborhood.
Elizabeth Callaway lives in Washington Park and is concerned.
"I understand why people want to do it but small children next door to frat boys who are renting, that doesn't thrill me," said Callaway.
Callaway says there are a lot of unknowns with a short term rental.
Krauklis also has a second home that he rents in the Capitol Hill area. Under the new measure, he says that short term rental won't be legal.
"We have to just go under the radar with it and be illegal," he says.
Krauklis says there isn't anyone who seems to police the short term rental market. Instead, neighbors may be those lodging complaints with the city but he thinks that will be unlikely for him.
"We've made it one of the nicest houses on the street and improved their property value so I hope they wouldn't have any issues with it," said Krauklis.
The new short term rental measures go into effect with regulations in July.
Jennifer Brice is a reporter with CBS4 focusing on crime and courts. Follow her on Facebook or on Twitter @CBS4Jenn.