Vail’s short-term property owners face requirements | VailDaily.com

Vail’s short-term property owners face requirements

Daily staff report
newsroom@vaildaily.com

VAIL — Property owners in Vail are reminded of previously adopted requirements for short term rentals. These include a requirement to post the town of Vail sales tax account number in all advertisements of those rentals.

Business licenses

Also, effective Jan. 1, 2016, all short term rental properties in Vail renting more than 14 days per year are required to obtain an annual business license from the town regardless of the location of the business management office. Previously, management companies located outside of Vail were not required to obtain a business license.

Rental requirements

Property owners in Vail are reminded of previously adopted requirements for short term rentals. These include a requirement to post the town of Vail sales tax account number in all advertisements of those rentals. Also, effective Jan. 1, 2016, all short term rental properties in Vail renting more than 14 days per year are required to obtain an annual business license from the town regardless of the location of the business management office.

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If two or fewer units are rented, the cost is $150; for rentals of greater than two units the cost is $325. In addition, a per unit fee is assessed based on location of the unit(s):  $17 per unit if located in Zone 1 and $12.75 if located in Zone 2.

All short term rentals less than 30 consecutive days are subject to sales and lodging tax. Total sales and lodging taxes of 9.8 percent should be remitted to the appropriate taxing entities (Town of Vail 4 percent sales tax, State of Colorado 2.9 percent sales tax and 1.4 percent lodging tax; Eagle County 1.5 percent sales tax). 

There are currently 310 rent by owner properties licensed in Vail. Year to date, the town has collected approximately $160,000 in sales tax revenue related to rent by owner properties.

For assistance in creating an account with the town, please contact Gary Hartley at 970-479-2324 or ghartley@vailgov.com.