Lease to Locals Housing Incentive Program Launches in Summit County Property owners invited to take advantage of up to $24,000 to convert their short-term rentals to longer-term rentals for the local workforce (EN Español)
SUMMIT COUNTY, COLO. (Oct 13, 2021) — Summit County and the Town of Breckenridge today announced their partnership on a pilot incentive program to create new workforce rental-housing opportunities for the upcoming season.
The program, called Lease to Locals, will provide property managers and property owners with generous cash incentives to convert their short-term rentals into seasonal and long-term rentals. Launching on October 15, 2021, the incentive program will be administered by Landing Locals, a Truckee, Calif.-based startup specializing in mountain-community workforce housing.
By 2023, the county is projected to be nearly 2,600 rental units short of what is needed to house local workers. The goal of the Lease to Locals pilot program is to convert some of the existing short-term rental inventory to longer-term rentals for the local workforce to help address the critical shortage in
workforce housing.
“The Lease to Locals pilot program is an important component of our overall housing strategy to meet the need for affordable housing in the county,” said Commissioner Tamara Pogue. “We know this is a
problem that we cannot build our way out of. Our hope is that through a collaborative effort with our community members and homeowners, we can make a positive impact on workforce housing availability in time for the winter season.”
Program details
To qualify for the Lease to Locals incentive program, a property must be located in unincorporated Summit County or the Town of Breckenridge and must be a legally licensed short-term rental unit.
Property owners will need to submit an application, sign a lease with qualifying tenants, and undergo lease checks to ensure they are in compliance. Qualifying tenants are required to work at least 30 hours per week for an employer based in Summit County.
In an effort to accelerate the program ahead of the winter season, incentive payments will be highest in the initial 45 days of the program. For leases signed on or before December 1, property owners can earn
up to $13,000 for a seasonal lease and up to $24,000 for a long-term lease.
Property managers can earn up to $2,700 per unit in addition to what the property owner receives. There are also additional incentives worth up to $40,000 for property managers who refer multiple units.
“The Town of Breckenridge is excited to partner with Summit County on this pilot incentive program,” said Laurie Best, Town of Breckenridge Housing Manager. “We believe there are many rental properties throughout Summit County that are well-suited for workforce and we hope these incentives will encourage property owners and property managers to consider leasing to a local.”
The goal of the pilot program is to convert up to 100 units this winter and build on the program for summer 2022.
To learn more about the Lease to Locals program or to apply for an incentive payment, visit LeaseToLocals.co or call (970) 406-4519.
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About Landing Locals
Landing Locals was founded in March 2019 in Truckee, Calif. with a mission to unlock new rentals for local employees in resort towns. They work with property owners who have underutilized vacation homes or short-term rentals and connect them with tenants in need of housing through their trusted platform. In late 2020, they expanded their business to build and administer incentive programs to further bolster housing access for locals, partnering with local governments in California and Colorado.
