Posted by toby | Friday, May 26, 2017
Breckenridge has more to offer for outdoor adventurers than just skiing. As soon as the snow melts and the mud dries, it is time to bike! There are amazing trails all over Summit County perfect for mountain bikers ranging in skill level from beginner to advanced. Road biking on miles of paved trails is another way to enjoy the stunning scenery throughout Summit County. Breck Bike Week offers the ideal opportunity to learn more about biking, bike trails, trail etiquette and all the latest equipment, as well as celebrate the sport with friends.
Kick Off The Week
Breck Bike Week kicks off on Wednesday, June 21st with the Summit County Bike to Work Day. Start the day biking in for a cup of coffee at Blue River Plaza and close out the day with a bike-in movie.
The week will include various clinics. Women can check out the mountain bike clinic designed specifically for women interested learning more about single track riding. There are also workshops for more advanced riders. Learn about bike maintenance in the maintenance clinic. You can even do a bike crawl exploring the best high altitude distilleries and breweries.
Friday and Saturday feature a Vendor Expo and Demo. Check out the latest bikes and even take some out for a demo ride. Get a feel for the best new components and see what’s the latest in the world of biking equipment.
The Poker Ride, a fundraiser for Summit Fat Tire to support their local trail work takes place on Saturday. Ride between all the stops, gathering a poker card at each stop. Present your hand at Napper Tandy’s during the Poker Rider Party party to compete for an awesome prize. If your hand is a dud, you will still be entered for great raffle prizes.
For some entertainment check out the Pond Crossing. If you are brave, you can join participants as they try to cross the dredge pond on a 10” plank. Dress up to match the disco theme and win a prize for best costume or most spectacular fall. You can even enter the big wheel race that circles the pond.
Both avid and casual riders will find an event they enjoy during Breck Bike Week. Many of the events throughout the week are free, however they are limited to only a few participants. Go to GoBreck.org to view all of the details for each event. The page also provides contact emails to sign up for specific events. Get to know a new side of Breckenridge through all of the events offered during Breck Bike Week. The tips and trails you can learn about during this week will help you enjoy biking all summer long.
Photo: “2010_07_Firecracker50_004” by Dave Wrigh
5 Things You Should Do to your Rental Property in Off Season
Posted by toby | Thursday, May 4, 2017
The periods from late April until mid-June and Late September to Mid-November are often called “the shoulder” seasons in Summit County. Locals also call them as “mud season” for the mud that used to line town streets before they were paved in the 1970’s. The unpredictable weather makes winter sports like skiing and snowshoeing more challenging and summer sports, such as mountain biking not yet feasible. Outdoor sports attract visitors to Breckenridge, so the mud season is the off season for vacationers. There is typically less demand for vacation rentals during this time, as many outdoor activities are not enjoyable. As a result of the decline in rental demand, mud season is the ideal time to conduct maintenance and complete the projects that gets pushed to the side during the busy winter months.
Here are a few things you should do to your rental property during the off-season.
1) Complete Big Projects and Large Repairs on Your Property
Rental properties will typically degrade over time, both from wear and tear, and age. If there have been repairs needed during the rental season, such as a new water heater, furnace, or updating furniture, now is the perfect time. Repairing or replacing equipment that is nearing the end of its life span during the off-season will save you time and money later on. If these repairs must occur during the rental season, you could lose considerable rental income if the repair is needed mid-season.
Secondly, remodeling your kitchen or bathroom will enhance the value of your property and increase rentals, and can easily be completed during these slow months.
2) Refresh Linens and Towels
Take stock of your linens and towels to determine if they are starting to become dingy, worn or stained. Your guests feel more comfortable when your linens look fresh and clean. Linens can wear out surprisingly quickly when you have a steady stream of guests using them. The off-season is an ideal time to remove old linens and replace them with fresh items. If you have a professional company providing your linens, this will be taken care of for you normally.
3) Brighten Your Property With Fresh Paint
A new coat of paint can work wonders in any property, both covering scuffs and scratches, as well as breathing life into dull or dingy rooms. It can make a home feel cozy and clean without having to invest in major renovations, and brighten up a room to become more exciting. A steady stream in renters results in minor wear and tear over time, which dulls the ambiance of the property. Dressing up a property with a fresh look can have a wonderful impact on guest satisfaction, and provide the appearance of a well-cared for property.
4) Enhance Your Property With New Amenities
Adding strategic amenities will bring renters to your property and may even allow you to receive a higher rental rate. If you have been considering adding a hot tub, pool table, fire pit or home entertainment center, the off-season is the opportune time to make these upgrades. Be ready to entice renters in the peak season with top-notch amenities.
5) Restock and Retool Your Kitchen
Most renters really appreciate a well-stocked kitchen, even if they dine out most of their vacation. Many tourists who rent vacation homes look forward to cooking their own meals, and some take great pride in family dinners. Off season is a perfect time to make sure your kitchen is well stocked with a good variety of kitchen utensils and cookware. If any of your utensils, cookware or tableware begin to show wear and tear, consider replacing them with upgraded products. Look at providing new and functional appliances like crockpots, food processors, and blenders. Providing a well-stocked spice cabinet is also a bonus many renters really appreciate.
Ultimately, you want to make sure that your rental property is excellent shape before a peak season hits. You can be confident and secure that your renters’ stay will be perfect when you have taken some time to prepare in the off season. When you work with Breckenridge Resort Managers, we monitor your vacation home throughout the year, as well as preform complimentary spring inspections. We will let you know what essential maintenance is required or projects that can bring value to your home. We can also connect you with trusted contractors for major repairs. Additionally, when the unforeseen does arise, we are local and available to assist you along the way.
We work hard so you and your renters have an excellent experience renting your vacation home, and you are able to focus on the needs of your primary home.
Licenses and Taxes You Need to Know about for Your Rental Home
Posted by toby | Tuesday, May 2, 2017
Navigating the legalities of renting your vacation home can be anxiety inducing, or, if not done right, it can be expensive. But it doesn’t have to be. You need to be aware that you will need to pay specific taxes and have the required licenses when you rent out your home. When you need help navigating the system, Breckenridge Resort Managers can help you make sense of these complicated rules.
Local, State, and County Sales Taxes
If you rent your property for less than 30 consecutive days at a time it is classified as a “short term rental”, and you will need to charge Colorado State sales tax on every dollar and rental. In Breckenridge you are also required to collect an accommodation tax of 3.4%. This tax is reported along with the town sales tax of 2.5%. Together with county taxes and state sales tax, the total comes to 12.275%. The Town Sales and Accommodations taxes can all be collected and remitted together. It is not a requirement to submit accommodation tax separate from sales tax. When you apply for your licenses, you will be given an ID number and required to submit your taxes either monthly or quarterly. Taxes will be submitted to both the State and Town separately, and you must file a return monthly, even if you had no rentals in that month. Financial penalties are levied for submitting late, incorrectly, or not at all.
To collect sales tax you will need to have a sales tax license from the State of Colorado. The Department of Revenue collects the sales tax, so you will receive the sales tax license from this entity once you apply for the license. In addition to a sales tax license, you will also need an accommodation unit license, or BOLT License. This license is applied for through the Town of Breckenridge. You will pay a fee ranging from $75-$175, which is determined according to the size of your unit. If your rental property is outside of the town limits of Breckenridge, different taxes and licenses apply. Check this 2017 Sales Tax Rates in Summit County to determine which taxes apply to your jurisdiction.
In addition to the sales tax you are required to collect, you will need to pay income tax on your rental revenues. This can become very complicated depending on how you use your vacation rental and whether it is classified as a second home or an investment property. To take advantage of the maximum amount of deductions available, you can only stay in your home for personal use for 14 days or 10% of the days you rent the home as a second home. Deductions include property taxes, mortgage interest and more. You may want to talk to a tax professional specializing in rental property in resort areas to ensure that you getting all of the deductions available for your rental property.
Working With a Professional Property Manager
When you work with a professional property management company like Breckenridge Resort Managers, we know the ins and outs of the legalities of vacation rentals. We can help you walk through all of the important tax requirements and licensing. Be confident that you are complying with all off the necessary regulations when you work with us. When you partner with Breckenridge Resort Managers, we take all the work and hassle off your plate and take care of all the details, so you can rest easy and enjoy renting you home and collecting the revenues.
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