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Aspen's single-family home prices are among the highest of any town in the country. Real estate supply is restricted due to a moratorium on new housing construction, housing renovation and short-term rentals. [30] [31] The median sales price of a single family home in 2021 in Aspen was $9.5 million. [31]
Short-term rental (STR) describes furnished self-contained apartments or houses that are rented for short periods of time. [1] They are usually seen as an alternative to hotels . "Short stay" rentals are an offshoot of the corporate housing market, [ 2 ] and are also offered by private owners and investors via online platforms such as Airbnb .
A condo hotel, also known as a condotel, hotel condo, or a contel, is a building that is legally a condominium but operated as a hotel, offering short-term rentals, and which maintains a front desk. Condo hotels are typically high-rise buildings developed and operated as luxury hotels, usually in major cities and resorts. [1]
Say you’re spending $400 on interest each month but your rental income (after all other expenses are taken out) is only $500. Your total profit is just $100. This might not be a financial ...
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Vacation rentals can also negatively affect local communities in a number of ways. While not the major cause of limited affordable housing, vacation rentals negatively affect the long-term housing market in local communities, especially tourism communities. As more short-term rentals increase, the availability of long-term units decreases.
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