Purchased a summer home in Pagosa a few months ago. Now I'm considering AirBNBing it. It's a nice place, so I'm worried about renters trashing it. However, offsetting some of the costs would be nice - particularly since I just got laid off. I have a local manager who can handle everything for us to offset the headaches of managing it all. I'm also ready to set up an LLC to protect my assets and run the expenses through it at a significant loss.

Just looking for advice for others that have gone down this road. I'm leaning toward doing it.

1. Double check your manager's claimed expenses and have them proven on a random basis.
2. Keep a separate set of owner's linens and anything you value only you and yours to use. Lock them away.
3. External security cameras are your friend.
4. Make sure you provide a minimum of 1 complete dining set per advertised occupants. Preferably 2. Keep spares in the locked owners closet.
5. List on multiple sites if you want to maximize your return. I only list on Airbnb and am leaving money on the table.
6. Automate as much as you can unless the manager handles literally everything.
7. Double check your manager's expenses.
8. Double check your manager's advertising strategy.
9. Have your own listing accounts and give access to manager as a co-host or similar. That way you retain your performance history, etc. when you inevitably fire the manager.
10. Challenge your manager's expenses. Did I already say that more than once?

Honestly, just do some research and manage it yourself. You will do a better job and with systems in place, it will take you less time than trying to manage your management company and you won't have to pay their fees.

Anything valuable or personal place in a locked closet.
Pay for the best cleaner you can find.

You'll need a VRP before You can do anything in Archuletta County including advertising for rent. Depending on where the rentals located you may not qualify. I hate to be bad news bears but you have to own the Property for 2 full years prior to application and Licenses ARE NOT transferable so if it had one previously it won't convey.

We just went through this with a rental and what we learned was that a majority (our agent told us it's somewhere between 65-70% of new Licenses) are denied for one of the following reasons (the language was written to make it onerous and difficult for new and OOS home owners to qualify as they previously had a total moritorium on VRP issuance until 1/16/24).

They made these rules to stop people from buying Property and turning around and renting. Thats why you have to own it for at least 2 years. It's to deter people from buying w the intent of only Doing STR thus reducing work forever housing and increasing rental rates for locals.

These are taken from the link posted below

Location: New STRs cannot be within 250 feet of an existing licensed STR, or in residential areas with more than 10% of existing licensed STRs. Multi Family cannot have more than 1 or 10% of total units.

Property ownership: Property owners must have owned the property for at least two years before applying for a license.

Multi-family buildings: No more than 10% of units in a multi-family building can be licensed.

License application: Applicants must provide samples of proposed advertisements.

Occupancy rules: Stricter rules apply for properties with septic systems. Occupancy limits are based on the number of qualified bedrooms.

Trash removal: All trash must be removed when guests leave.

Heres the complete list of requirements. I really hope they made you aware of these if you were planning at closing to rent your place.

https://library.municode.com/co/pagosa_springs/codes/code_of_ordinances?nodeId=CH6BURE_ART7VARE

You can't - it's not allowed by the city unless he lives here. Per the requirements, the Property Manager must be located within 60 minutes driving time from the Property and the applicant must provide their fill name, address, phone Number and email along w an affidavit "in writing authorizing such agent to act, in the applicant's absence, as the representative of the applicant on all matters related to operation of the vacation rental.". They use Google or Apple Maps to determine the travel time.

How is the place? I'm looking to make a quick trip to Wolf Creek and looking for a decent place. 12/29-1/1

Why? WC has the worst snow of any major hill in CO.

WC is having one of their worst years out of the last 40. They're in the 24% over the last 40 years at this point. For the mountain that gets the most snow in Colorado they're having an EPIC ass year. Literally anywhere else in CO is going to have better snow. This year is going to be bare for WC and Northern NM. Might end up as the worst on record with how it's trending. The slide is WY or northern CO.

I'm between Purg and WC. WC's appeal is every run is open. On the snow days 62% of historic. Purgatory is 58% of average, but about 80% of runs are open.

I wanted to go to Taos, but it looks bare.

Where in the north side?

Every run is open but theyve caught 6 inches in 30 days w 6 expected through EOM. On AVERAGE they get 76 inches in december. So they might end up at 12 w an average of 76. Thats a hella no no no. Thats TERRIBLE for them. If you love paying to ski man made rock hard groomers w pea gravel embedded to sand paper your bases they're the place. Crazy fact, the SLR of the fake bake made for ski hill in Dubai is higher than whats fallen on WC and Purg in Decmeber. Thats INSANE.

Best base in CO right now is actually Monarch. For major hills it's BC. This week SS will see the heaviest snowfall but they need it. If it was me id be at Monarch/BC/Vail/Snowmass.

Monarch has the best base but is tiny and kinda flat. BC & CB are the only major hills average base, and Vail/Snowmass have the best base sub average w the best snow making to supp the 12-20 they will get this week. If you have a 4 mountain Aspen pass, id probs actually pick SM or CB. they get 1/2 of the skiers as Vail and 1/3 the skiers of BC. So, for SM the POW up top of big burn and the sneaky trees will have an all day POW Pass Thursday after accumulation through Monday. Vail will be tracked by 11am each day and BC will be groomed over at first opportunity sans the trees because BC loves to manscape everything except Grouse and the 1x a week BOP glaze.

The last 2 places id go in CO right now are Purg and WC. They have the worst snow in the State and snow making capabilities from 1981 actually that's a lie maybe 2011. By volume it takes WC and Purg about a week to pump what Vail/BC/Snowmass can make in a day. They also have a HUGE water quota in comparison to WC and Purg because they have the best lobbyists and water rights. I guess that's what 30+ million spent on snow making technology CAPEX brings to the table on low snow years,

Make the extra drive and join us near Frisco

Thanks for the feedback. All good. Were bought the place primarily for us as a summer escape from the heat. We're still debating the STR thing because it's a nice place that we don't want to get trashed.

No problem! If you have any questions feel free to ask. We learned more than I ever wanted about the process going through it.

Enjoy your place!