Telluride property owners without a Short Term Rental (STR) license can now apply for a chance to get one!
In November 2021, Telluride residents voted to cap STRs at their current number, which had conflicting reports at the time, but we now know the exact number was 758. (To get caught up in the saga of Ballot Measure 2D vs. the Citizen's Initiative 300, check out my blog posts and videos on the topic!) There are certain exceptions that are allowed outside of that number, like primary residences with licenses to AirBnb the property when the owners are out of town, and one-time exceptions when a property sells, in order to allow the license to transfer to the buyer.*
Additionally, any STR licenses that are surrendered (if a property sells and the buyer does not take over the license, or if a property owner doesn't renew their license for any reason), are made available to transfer via a lottery system. This year, 12 licenses have been surrendered and are up for grabs to transfer to 12 new applicants. To date, over 40 property owners have already applied, with applications closing at 5 PM MST on September 30, 2022.
The lottery will take place on October 7, 2022, and all licenses won in the lottery will go into effect in January 2023.
Not a property owner yet? CLICK HERE to search for available Town of Telluride condos and residences!
*It is important to note that any Short Term Rental license won in the lottery is NOT eligible to transfer to a buyer in the event that the property sells. The one-time exception only applies to preexisting STR licenses. This is an unfortunate clarification for sellers who were hoping to obtain a license in order to make their property more desirable for a future buyer.Posted by Anna Wilson on