With a small-town feel and access to a variety of outdoor activities, Leadville is quickly becoming a top spot to visit in Colorado. Leadville is also one of many cities in the state to implement short-term rental laws. Hosts must secure a license through the city (effective May 1-April 30 each year and renewed annually), and comply with additional operational standards.
Current Short-Term Rental Laws in Leadville
Hosts must provide the following details to the city to comply with the new short-term rental laws:
- The name, address and other contact information of the owner of the short-term rental along with the full property address of the rental property.
- A copy of a current and valid State sales tax license and a current and valid Lake County sales and lodging tax license issued to the owner or local agent for the proposed short-term rental. Additionally, proof that all property tax payment for the property on which the proposed short-term rental is located are current.
- An affidavit, on forms provided and approved by the City, signed by the owner attesting that the short-term rental has appropriate safety features.
- Proof of insurance covering the proposes short-term rental unit sufficient to operate a short-term rental.
A fundamental requirement the city has here is proof of insurance “sufficient to operate a short-term rental”. It’s quickly becoming common knowledge that traditional homeowners insurance simply doesn’t provide sufficient coverage, often having a “business activity exclusion”. That spells bad news for hosts when they need to file a claim.
What safety features should hosts provide at their short-term rental?
Most short-term rental laws cropping up across the nation include safety requirements. The issue is these requirements are left open-ended or often very basic. Typically the city requires functioning smoke and carbon monoxide alarms, but not much beyond that. Many hosts simply don’t consider the larger picture and their responsibility to protect guests from risks of injury at their short-term rental.
Thankfully there are industry leaders such as Breezeway to educate hosts on vital safety features every short-term rental should include. Breezeway’s safety certification program helps hosts identify safety short-falls at their property with no need to wait for an inspector to get to the property on their long list of inspections; hosts can go through the inspection process on their own. Visit Breezeway.io for more details on their safety certification program.
Quote Your Short-Term Rental Today
Interested in a policy to protect you and your business from liability and damage claims? Proper Insurance leads the Nation in short-term rental insurance, with over 40,000 policies written in all 50 states. Backed by Lloyd’s of London and exclusive endorsements from short-term rental leaders such as HomeAway and Vrbo, Proper Insurance is built on world-class insurance coverage that meets and exceeds both city and lender requirements.
Call Proper today to receive a comprehensive quote for your short-term rental – (888) 631-6680!