What You Need to Know Before Buying a Vacation Rental Investment Property in Breckenridge
Posted by admin
| Monday, February 18, 2019
Renting out your Breckenridge vacation property can be an excellent way to own a vacation home while supplementing some of the costs. However, vacation homes are a huge investment and, if it is done without much forethought, you could encounter some major headaches along the way. Take time to do your research and ask yourself important questions about your goals. Then, you will be able choose the best vacation rental investment property for your needs.
Know The Laws
The local Summit County communities are beginning to enforce strict vacation rental regulations. Take time to research what laws are in place and how many days homes in certain areas can be rented for. While communities may allow vacation rentals, they may have specific guidelines and restrictions. In addition, homes in covenant neighborhoods may have other rules and regulations you will need to follow. Make sure your goals for your vacation home line up with any regulations that may be in place.
Taxes can become very complicated with vacation rentals. To be considered an income property you cannot vacation in your home for more than 14 days, or to be considered a short-term rental you cannot rent your home for more than 14 days. There are different tax advantages to each approach. You should consult a tax professional to discuss your plans and make sure that a rental property is the right investment for you. You should also look into property taxes. Knowing how much you will need to pay in property taxes will help you estimate how much you will need to earn in rent to recover these costs.
Do You Enjoy It?
Would you like to vacation in this home? If you are likely to use the home for yourself, will you enjoy spending time in it, doing repairs, and being part of the community? If you love it, it is likely that renters will too. You may want to consider other factors including available amenities, location, and peak- and off-peak seasons. Peak-season rates can often compensate for slow seasons. Research how long each season is and whether or not you can command high enough rates to bring in enough income to meet your goals.
Maintenance is a big part of owning any home. It becomes even more challenging when you live far away from your home. Local short-term regulations require that someone be able to be onsite within a short period of time, should emergencies arise. It is important to plan for how much you will need to spend on maintenance and upkeep. Will you hire a professional property management company to look after your home? Do you intend to do repairs on your own? What will travel cost you? Do you have connections to local contractors for major repairs? You will need to respond quickly to maintenance needs if you have renters in the home. Otherwise, they will have a bad experience and share that experience with other potential renters. Before you purchase your home make sure you know how you plan to cover maintenance costs and that you have the resources to ensure the maintenance gets done.
A Fun Investment
Owning a vacation rental home can be a very fun investment. Bringing joy to travelers is rewarding, earning extra income is helpful, and having your very own vacation spot is ideal. Before you make your purchase, know the rules and regulations, and the anticipated costs. Then you will be able to determine whether or not a particular vacation rental home will meet your investment and/or your personal needs.
What First Time Visitors Need to Know about High Altitude Climates
Posted by admin
| Tuesday, January 29, 2019
Aside from the usual challenges of altitude sickness, Breck’s high altitude climate can pose other challenges that can catch first time vacationers unprepared. A first-time visit to the mountains can be magical, as long as you are ready for everything a high-altitude climate has to offer.
Protection from the Sun
The sun is intense any time of year. With a thinner atmosphere at high altitudes there is very little between your skin and the UV rays of the sun. According to Healthy Travel
, “If you are hiking at 8,500 feet, you are exposed to almost 60% more sun than you would be at the beach." You should plan to wear protective clothing. Lightweight, long sleeves and a wide brim hat are great tools to keep the sun off in the summer. In the winter, be sure to wear goggles or sunglasses. In any season, you should apply sunscreen to exposed skin. Reapply after a few hours, or if you have been sweating.
The air is also very dry in high altitudes. Water evaporates quickly. This means you can dehydrated quickly. Drink plenty of water, starting the day before you arrive. You will also benefit from lotion and chapstick. It can be challenging for your body to adjust to such a dry environment, so always keep a water bottle with you. If you are hiking, skiing, or participating in another adventure, plan to bring more water than you would normally need. Headaches often associated with high altitude can also be a result of dehydration. To avoid feeling groggy, limit your alcohol intake as well.
Quickly Changing Weather
The weather can change very quickly at high altitudes. On a sunny day, passing cloud cover can lower the temperature significantly. In the summer, it is wise to carry a sweatshirt or jacket with you. In the winter, snowy weather can move in swiftly. Always dress in layers. One of the most important things to remember is that summer thunderstorms are common in the afternoon. It can be very dangerous to be caught on an exposed mountainside during a thunderstorm. When you are planning a long hike to a high elevation (especially above tree-line), plan to leave early in the morning. Then, you can reach the summit and be on your way down before there is any chance of lightning. In addition, always carry rain gear with you to stay warm and dry.
The intensity of the sun results in warm days, but as the sun goes down, the atmosphere doesn’t hold in the heat. The nights can become very cold any time of year. In the summer, you may want to have a light hat, gloves, and a warm jacket if you plan to be out after dark. In the winter, put on an extra layer and plan for it to be much colder than it was during the day.
Cool, sunny days in the summer and comfortable snowy days on the slopes make the mountains an ideal year-round destination. A little preparation for the unique high-altitude climate will help you feel safe and comfortable.
Photos courtesy of the Breckenridge Tourism Office
International Snow Sculptures
Posted by admin
| Monday, January 14, 2019
The 29th International Snow Sculpting Championships held in Breckenridge are coming up!
Close out January with this enchanting event. The event begins with the creation of the snow blocks during the week of January 15th. During this week, the organizers will be creating the canvas for the sculptures, huge blocks of snow. Carving starts January 21st and will be complete by 9:00 am Friday, January 25th. Viewing continues throughout the weekend and end the evening of Wednesday, January 30th. The event is free and open to the public during the entire process. For the best experience, visit as they are carving the sculptures and after they are finished, so you can see the whole process.
The snow sculptures are subject to changes in weather, so if the sun is out and temperatures are higher, you may want to view them earlier in the weekend. It also gets very crowded Friday evening, so plan accordingly.
If you want to be part of the action, you can volunteer to help make the snow blocks. The snow blocks pack together 20tons of snow to make a 12 foot block. They are crafted with heavy equipment and human power. One volunteer job is to dance on top of the snow as it is being packed into the mold. This takes place January 15-18th so that the blocks have time to settle and compact, making them ideal for carving. Visit GoBreck.com to sign up to be a volunteer.
Then, on January 21st, 16 teams from around the world gather to begin carving. The teams this year include Ecuador, two from China, France, 2 from Germany, Great Britain, Italy, India, Japan, Mexico, Mongolia, Turkey and 3 from the USA. The teams are only allowed to use hand tools for carving. They work all week to create intricate and delicate forms. The sculpting closes at 9:00 on Friday morning. Often, the sculptors stay up all night on Thursday to put the finishing touches on their sculptures. The sculptures are then judged and the awards are presented at the Riverwalk Center on Friday night at 6:00. You can even vote for your favorite sculpture in the people’s choice awards.
After dark is the best time for viewing the sculptures. Each one is illuminated with colorful lights creating a magical effect. On Saturday night the light show is augmented with a fireworks display. A concert by the local band, El Passo Lasso, will end the evening. Plan to dress warm when attending this event at night. The temperature drops significantly after dark. It can also have icy terrain, so be sure to wear sturdy boots.
There will be a free shuttle to the event from the Colorado Mountain College parking lot on Airport Road. You can also access the event from Breckenridge’s free ride public transportation. The stop at the F-Lot is the closest to the event.
The Best of Breckenridge
Stay for the week and enjoy world class skiing and remarkable snow sculptures. This week in January is one of the best times all year to enjoy Breckenridge. For all the details and a full schedule of events go to GoBreck.com
. Find an ideal place to stay, close to all of the action with Breckenridge Resort Managers
Photos Courtesy of Breckenridge Office of Tourism
How to Use Your Vacation Rental in Breck for Tax Breaks
Posted by admin
| Friday, December 28, 2018
Taxes can quickly become very complicated when you own any kind of income property. How you will use you Breckenridge vacation rental property will impact what kind of tax breaks you can get. It is highly recommended that you hire a tax professional to help you find all of the potential tax breaks and avoid any costly mistakes. You should be aware of the following tax breaks as you make decisions about how to use and rent your vacation home.
14 Day Rule
You may have heard of the 14 day rule, but don’t know what it means. In order to consider a property an income property, and therefore claim deductions as such, you may not use your property for personal use more than 14 days out of the year. That means if you want to spend an entire season at your property, you cannot count it exclusively as a rental property and claim losses. However, you can make proportional deductions. Alternatively, if you rent your property less than 14 days you do not have to classify it as an income property. Avalara
points out that days used to perform maintenance on the property are not counted as personal use days. You may be able to extend your vacation as long as you are fixing or upgrading your property.
The new tax code has changed the amount of debt that you can receive a mortgage interest deduction for. Fortunately, this new change does not impact rental properties. If your vacation home is a full time rental property you can deduct all of the interest on the mortgage as a business expense.
reminds vacation rental owners that any fees you pay to services that maintain, advertise, or book your vacation rental can be deducted as business expenses. Some services charge a percentage of your rental, while other require a subscription fee, or flat fee. Keep track of what you pay to advertise and book your home, because it can save you some money in taxes.
Travel to your vacation rental property can be deducted if it is directly related to renting the property, according to Accounting Today.
Mileage for driving to meet a renter, clean the property, or make repairs can be deducted. Keep track of your mileage and a log of what business function you performed while you were there.
If you are paying income tax on your Breck vacation rental property, the number of deductions continue to go on and on, just as though your are running a business, or are an independent contractor. Meticulous records will be your best friend when is comes to tax time. Be sure to keep track of all the expenses put into your vacation rental, ranging from a bottle of windex to a new heating system. With excellent records, a competent tax professional can help you take advantage of all the potential deductions, while still helping you meet your obligations.
Best Family Friendly Ski Runs in Breckenridge
Posted by admin
| Saturday, December 15, 2018
One of the best things about skiing is that the whole family can enjoy it. Even four and five year olds can ride a lift and get down a hill with some practice. Teens love the thrill and adventure of the sport. At Breckenridge you can find a slope that will be satisfying for everyone in your crew. If you want to stick together and check out the slopes, here are a few that are ideal for bigger groups and a wide range of skill levels.
If you are staying in town, Peak 9 is a great place to start out. You can jump on the Quicksilver SuperChair and have access to a variety of green runs. Everyone can pick their own path and easily meet up again at the lift. You can also access two kids Adventure Zones, Haunted Forest and Ripperoo’s Forest. These are like mini-terrain parks that offer challenges that kids can tackle to build their skills and confidence. For a warm-up, start on Frontier or Lower Lehman, but take care because these can be high traffic runs.
Try a family zone to find a place where everyone can move a little slower and take time building their skills without people flying around them. Breckenridge has four designated family zones, two green runs, and two blue runs. Springmeier and Powerline can be accessed from the 5 Chair on Peak 8. When you are ready to challenge the family a little more, Cashier and Bonanza can be accessed on Peak 9. Take advantage of these spaces where skiers will take more care and caution, looking out for one another. This is especially helpful if you have small children with you.
Advanced Family Skiers
For the more advanced family with a few thrill seekers, head over to Peak 6. The Kenosha SuperChair will take you to both blue and black runs. The more confident skiers can try their luck on Intuition or Wonderland, while those who are little more cautious can work down Daydream.
The Quicksilver SuperChair, Kenosha SuperChair and Independence SuperChair, can all carry up to six people to the top. It is likely that your whole family can fit on one lift and ride together. SuperChairs are great meeting spots, as most runs will lead to one. Even if you take different routes down, you can go up together.
Remember that it is so important to learn to ski in control. You should always accommodate the lowest skill level in your family and never push someone into terrain they are uncomfortable with. Skiing is more fun for everyone when skiers feel confident and in control. Helping the youngest and least experienced members of your family will set them up to have a lifetime of family skiing fun. Don’t forget that you can also sign up to take a lesson together as a family. This is highly recommended for a family of brand new beginners. With a little planning your family can make unforgettable memories on the ski slope.
Photos by Liam Doran courtesy of Breckenridge Tourism Office
What to Look for in Property Management Company
Posted by admin
| Friday, November 30, 2018
When you set out to buy a vacation rental property it can be an exciting journey. If you live at any distance from your vacation home, something you need to consider during that journey is hiring a property management company based in Breckenridge. More and more people are renting vacation homes, but along with their growing popularity comes higher expectations for quality service. No one wants their vacation ruined by a poorly managed home. One or two negative reviews can ruin your chances of regularly renting your home. When you are ready to hire a property management company, there are a few things you should look for to be sure you are getting the service you need.
Many property management companies advertise a low figure for caring for your property, but then they tack on extra fees for services you are likely to need. These extra services are where they make up for the low rate being offered. Ask about additional fees and add up what you will need. It may be that a property management company with a higher rate is better deal because of the services included in the rate.
Some large property management companies hire out local employees, but don’t oversee the operations themselves. This situation might work well if you only want a cleaning service. However, if you want assistance with managing emergencies, helping with check-in or check-out, or troubleshooting unexpected problems, a locally based company can be much more helpful.
Make sure your property management company knows how to handle repairs and routine maintenance. Some needs may be handled by the management company itself, but most jobs are likely to be referred to other contractors. Make sure your property management company has connections with reputable contractors. Ask if they are willing to check in on the work as it progresses. These local connections to dependable and reasonably priced contractors can be invaluable. Make sure the property management company also routinely checks major appliances, such as the heater, water heater, hot tubs, and kitchen appliances. Then, you can stay ahead of major repairs and make necessary repairs before something happens while you are hosting guests.
A lot of your business will depend on your vacation rental being visible on most rental sites and repeat business. Many vacationers come back year after year if they had a good experience. Ask your local property management company how they advertise your property and how they encourage loyalty and repeat renters. A property management company that works to keep your rental booked is worth the investment. You lose money when your home sits empty, and a good property management company will work hard to keep your property occupied with paying renters.
As you search for a property management company for your Breckenridge vacation rental, make a list of criteria that is important to you. Think about items such as marketing, emergency care, cleaning, and screening renters. Be sure that the company you hire offers all of the services you want and the you know how much their services will cost. Don’t be afraid to ask for references. You want to be sure your investment is in the right hands. Contact Breckenridge Resort Managers
to see if our approach to property management is the right one for your vacation rental.
The Holidays in Breckenridge
Posted by admin
| Friday, November 23, 2018
The holidays in Breckenridge are always a wonderful experience! They bring the nostalgia of the small town holiday that you’ve always wanted to experience. The dark nights are lit up with festive, twinkling lights; everyone celebrates and enjoys snow; and friends and neighbors gather to enjoy the season together. Snow doesn’t just bring world class skiing to Breckenridge, it also brings magic. Don’t miss these amazing events in Breckenridge during the holidays!
Race of the Santas
The season kicks off with the Lighting of Breckenridge. Main Street comes alive with thousands of lights and festive decorations. This festival is always celebrated during the first full weekend in December. The 2018/19 season will be celebrated the weekend of December 8th. On Saturday afternoon, the Santas will take over Main Street and run six blocks for the Race of the Santas. You can dress in your favorite Santa suit and join the race, or you can watch the fun. Register online to run in the race by Friday, December 7th.
Lighting of Breckenridge
After the race, at 5:00, Santa himself will flip the switch in Blue River Plaza to light up Breckenridge. Enjoy cookies with neighbors and friends as you take in the glow of the lights. The cookies are provided by the Breckenridge Tourism Office.
From 5:30-7:00 check out the historic Barney Ford House all decked out for the season. Your little ones can visit Santa, tell him their Christmas wishes, and you can get your traditional holiday picture.
Holiday Dog Parade
If you want to enjoy the festivities with your four legged friend, sign up for the Holiday Dog Parade. This takes place before the Santa run at 3:45. Register from 3:00-3:30. Dress up with your dogs in your most festive costumes. The parade will start at Main Street Station and end at Blue River Plaza.
BreckCreate will be hosting holiday karaoke after the lighting of Breckenridge at the Old Masonic Lodge. This event is free and a cash bar will be available.
For a full schedule of the Lighting of Breckenridge events and registration for the Race of the Santas go to Go Breck
Holiday Shopping All Season
All season long, the lights are bright, and the shops are warm. Find unique gifts for loved ones at the independent shops along Main Street. You can also find plenty of ski and snowboarding gear for the outdoor person in your life. Close out your day with fine dining and locally crafted spirits. Relax and enjoy your holiday shopping this year in Breckenridge’s small town atmosphere.
If you plan to spend your Christmas vacation in Breckenridge, you are sure to have a memorable time with your family. Breckenridge can be very busy during this season so be sure to plan ahead. Rent a vacation home so that you can cook homey meals together. If you plan to go out on Christmas Eve, Christmas Day, or New Years Eve be sure to make advance reservations. The hottest spots will fill up fast.
Breckenridge is the idyllic mountain town all through December. Take a trip to the mountains to enjoy excellent skiing and holiday spirit like you won’t experience anywhere else.
Photo: By Carol Scofield courtesy of Breckenridge Office of Tourism
Photo: By Louie Traub courtesy of Breckenridge Office of Tourism