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Lease to Locals, a housing program to incentivize homeowners to convert their short-term rental properties to long-term rentals for the local workforce, is returning to the Town of Breckenridge and unincorporated Summit County for the 2022-23 season.
SUMMIT COUNTY—Lease to Locals, a housing program to incentivize homeowners to convert their short-term rental properties to long-term rentals for the local workforce, is returning to the Town of Breckenridge and unincorporated Summit County for the 2022-23 season with incentives up to $22,000 available to homeowners who participate.
“Last year, we helped the Town of Breckenridge and Summit County government house 137 locals in 70 units,” said Colin Frolic of Landing Locals, the organization contracted to administer the program for Breckenridge and Summit County. “The program exceeded our expectations in Summit County, and we’re excited to continue into next year.”
Lease to Locals was launched as a six-month pilot program in the fall of 2021 and was expanded to include a free matching service through its marketplace after the pilot program successfully converted several units from short-term to long-term rentals.
Since program inception, 70 units have been converted, consisting of 136 bedrooms housing 153 locals. The workforce includes employees from 98 Summit County businesses.
“The success of Lease to Locals demonstrates the importance of a multi-prong approach to Summit County’s housing crisis,” said Summit County Commissioner Tamara Pogue.
Homeowners participating in the program are enthusiastic about helping relieve the housing crisis. "Prior to Lease to Locals I was doing short term rentals with my condo in Breckenridge. Lease to Locals has been a win-win. It makes up most of the difference in income I would have gotten with STR and provides much needed housing for the local workforce," said Summit County homeowner Scott Bilyeu
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 have been a legally licensed short-term rental unit prior to October 15th, 2021.
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.
More information is available at https://landinglocals.com/summitco/ or call Colin Frolich at (970) 406-4519