Summit County Cracks down on Unlicensed Home Rentals

Many homeowners have turned to short-term rentals as a way of earning quick cash. Since this undertaking is largely a secondary income, most residents have neglected the necessary steps of applying for a local business license and paying business license taxes in order to legalize the venture. As such, government offices nationwide are losing out on the tax income associated with short-term rentals.

Summit Daily reports that a recent study by The Town of Breckenridge has “indicated a large number of second-home owners were using online sites such as vrbo.com or craigslist.org to rent out their properties, but had not registered with local governments, applied for business licenses or paid required lodging taxes on the overnight rentals.”

Summit County officials have decided to go after unlicensed home rentals as a means of generating more income for county coffers. They have signed an agreement with Compliance LLC, a Washington-based international provider of risk and compliance management training, certification and executive coaching.

Compliance LLC will conduct constant reviews of online rental sites to search for residents who are renting their homes without obtaining Summit County business licenses and local town business licenses. They will then be asked to come into compliance with local business license regulations.

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