Golden Colorado has it all from history to nature, breweries and a charming downtown. People love living in and investing in Golden, Colorado!
Golden is nestled near the famous Red Rocks Amphitheatre both a geological wonder and amazing concert venue where some of the worlds best musicians perform. It is also home to Coors Brewery and a number of smaller local breweries as well.
Houses vary from newer builds to traditional gold miner cabins. Residents range from School of Mines faculty and students, outdoorsy young professionals and families a like.
STR’s are permitted in residential zoning districts. They must be occupied by the property owner for at least 10 months of the year, while having a portion of the dwelling unit rented for less than 30 days at a time. This may include duplexes or carriage houses if located on the same property that is used as the primary residence.
Only one license will be granted per lot.
Tourist Homes are located in commercial zoning districts, and have a unit or portion of a dwelling unit rented for less than 30 days. Tourist homes are NOT required to be the primary residence or occupied by the owner of record and home owners may rent the entire house for less than 30 days at a time year-round.
Licenses are good for
Req. property owners occupied
A perfect middle ground between the income potential of a short-term rental and the stability of a long-term rental. Mid-term rentals are furnished units that are rented to guests for 30+ days. People who seek out mid-term rentals are traveling nurses and professionals on temporary assignment or people displaced from their homes for a duration of time. It’s become a popular investment strategy because in many areas, like Golden there is no rental license required. Use services like AirDNA to calculate what your potential rents could be.
Year over year increase in MTR nights sold
No license required for rentals
The “rent by the room” investment strategy involves renting out individual rooms within a single property, such as a house or apartment, rather than leasing the entire unit to a single tenant. This approach has gained traction as it allows investors to maximize rental income by catering to multiple tenants simultaneously. Each tenant pays for their designated room and shares common areas like kitchens and living rooms. This is a popular strategy among house hackers who choose to rent out the rooms in the house they are living in. In Golden you’re legally able to house 4 unrelated people in one rental unit.
Average Room Rent
Primary Room Rent
Long-term rentals are a smart strategy for a more hands-off approach and a buy and hold mindset. In an appreciating market, like Golden, if the property’s rent can cover the mortgage, plus an additional 10% for vacancies and repairs, then you’re property is increasing in value the longer you hold it. Check out the latest rent estimates on Rent-O-Meter or Zillow to see what your property might get for rents.
Avg. Rent 3 bed / 2 bath
Avg. Rent 2 bed / 1 bath
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