Rental

The program maintains strict occupancy and rental restrictions to maintain each home’s intended use and prohibit homes from becoming income properties:

• Owner occupancy is required. This is defined as living in the home ten months every calendar year.
• Short term rentals (30 days or less) are never permitted for owners of permanently affordable homes per city ordinance.
• Long term rentals of the entire home are limited to one year out of every seven, but not permitted in the first five years. Licensing regulations must be followed.
• When occupied full-time by the owner, a long-term rental of one single room in the home is permitted after the first year of ownership. Licensing regulations must be followed.
• Licensing regulations must be followed for all rentals.

Owners must contact the program before the beginning of any rental period.

After one year of ownership an owner may rent a bedroom. The owner needs to continue to live in the home.

What is allowed:

• Renting one bedroom

What is not allowed:

• Renting for less than 30 days
• Renting more than one bedroom
• Renting to a roommate and rent the whole home at the same time
• Having a roommate in the first year of ownership (even if no rent is charged)
• Renting in the first year of ownership

Getting Approval

Rentals need to be approved before they start. The following are needed:

• Completed Rental Request form.
• A copy of the lease.
• Contact information for the tenant.
• Address where the owner will live while renting.
• A full rental license is not required. However, owners do need an approved rental license exemption form.

The program will review the request. If the owner is allowed to rent an approval letter will be sent.

After five years of ownership and owner may rent the whole home. This may be done one year out of every seven-year period of ownership. For example:

• 3/5/2025 – Home purchased
• 3/5/2025 to 3/5/2030 – no rental
• 3/5/2030 to 3/5/2032 – can rent up to 1 year
• 3/5/2032 to 3/5/2039 – can rent up to 1 year
• 3/5/2039 to 3/5/2046 – can rent up to 1 year

What is allowed:

• Renting the whole home
• Renting for up to 12 months

What is not allowed:

• Renting for more than 12 months.
• Renting for less than 30 days.
• Having the 12 rental months stretch past two years (once started the 12 rented months need to be completed within a two-year period).
• Renting and moving to another home in Boulder County (people can only rent if they are leaving Boulder County during the rental).
• Buying and then renting (owner needs to occupy the home for five years before renting the whole home).
• Renting and then selling (owner needs to occupy the home after renting).
• Renting two years back-to-back (last year of first 7-year rental period and first year of second 7-year rental period)

Getting Approval

Rentals need to be approved before they start. The following are needed:

• Completed Rental Request form.
• A copy of the lease.
• Contact information for the tenant.
• Address where the owner will live while renting.
• A full rental license is not required. However, owners do need an approved rental license exemption form.

The program will review the request. If the owner is allowed to rent an approval letter will be sent.