August 10, 2022
Author: Heather Connor, Realtor
What is the best rental structure for an investment property in Crested Butte?
There are three different to get an income on your Crested Butte property, two of which are used in combo with personal use.
1. Long-term Lease
2. Season Lease
3. Short-term rentals
Let's cover this quickly.
Your Crested Butte Property on a Long-term Lease
A long-term lease is usually at least a year-plus. This is a great option if you don’t want immediate use of your property or you want more time or funds so that you can upgrade your finishes/furnishings. It’s also great way to offer housing in a much needed rental market. Friendly reminder: the smaller, more affordable, and pet-friendly properties are in the highest demand.
Your Crested Butte Property on a Seasonal Lease
These usually run 3 to 6 months long and it’s a great way to gain consistent income that’s usually at a higher lease than a typical 12-month lease. My friends in other ski resorts talk about ski leases and actually here in Crested Butte, our summer leases are more profitable.
Your Crested Butte Property on Short-term Rentals
Short-term rentals are 30 days or less. In a resort market like Crested Butte, they make sense. Due to the fact that our visitor season is seasonal in nature, you will have high and low income months so be sure to map it out and make sure that it works with your preferred usage of the property.
All three rental structures offer different benefits. If you’re curious what’s the best option for you, send me a message.
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