Frisco installs first short-term rental cap on housing market
Starting Oct. 17, Frisco will now only allow 900 homes to be used as short-term rentals. Town Council and the Housing Program Manager Danelle Cook came up with that number as 25% of the available housing stock in town, as well as a number above the current number of licenses (if only by a little bit.)
"Frisco Town Council is very aware and has acknowledged that we are a tourist-driven economy," Cook said to CBS News Colorado on Friday. "We do acknowledge the positive economic impacts of short-term rentals. We are not talking about getting rid of them altogether, we are talking about balance."
A balance between allowing the cash flow of tourists to come into town, and the sanity of long-term renters and owners in town, hoping for permanent neighbors instead of a rotating door of visitors looking to party.
"It is great when you move into a home in Frisco and your next-door neighbor actually lives here full time," Cook admitted. "When they don't live here, and it is a short-term rental property, and they are partying in the hot tub at 2 A.M. ...that can be pretty difficult getting up for work in the morning."
Town Council adopted ordinance 2210 (the official title for the short-term rental cap) on October 11th.
Right now there are 825 licenses in Frisco, leaving 75 more for people to grab up before the cap hits. Folks who are currently building but hoping to use their properties as short-term rentals will be grandfathered in.
"We are kinda at a breaking point where we are starting to feel the effects and the Town Council wanted to do something about that."
The ordinance is re-evaluated every year.
