We are excited to announce an innovative new project designed to increase the supply of long-term rentals available for local workers. The initiative is the result of a partnership between The Trust for Community Housing (TCH) and Landing Locals, an online marketplace that matches local employees with property owners to increase the availability of long-term rentals.
Founded in 2018,TCH is the Telluride region’s only nonprofit organization dedicated to increased access to affordable housing. Landing Locals was co- founded in 2019 by Colin and Kai Frolich to tackle the housing issues facing resort towns. The pair recognized the fact that locals in such places faced a shortage of inventory and rising rental costs, while many properties sat vacant for most of the year or were rented short-term. The Frolich’s solution was to create an online marketplace to match locals with property owners in the Lake Tahoe area and other resort communities.
TCH is working with Landing Locals to bring this program successfully to the Telluride region. Amy Levek, Executive Director of TCH, explains, “We’ve been looking at ways to increase the availability of long-term rentals for local workers. When we saw what Landing Locals has done in other resort communities, we got excited about the potential for Telluride. It is a lot cheaper to make an existing unit of housing available for locals than it is to build a new one. ”
Kai Frolich adds, “After our initial launch in Lake Tahoe we’ve seen incredible results in creating a technology-enabled marketplace to unlock over 40 new rentals for 100 locals in our first year. We are excited to work with TCH in Telluride, and we plan to expand into more resort towns in 2020.”
TCH and Landing Locals have been doing outreach to homeowners associations, property managers, realtors and others who work with property owners.
“It’s been encouraging to see how receptive they’ve been so far,” notes Levek. “It may have a lot to do with our changing economy.”
Short-term rentals may not provide the same income they have in the past, but renting long-term is a win-win, providing guaranteed income and helping house locals.
Landing Local’s platform enables owners and renters to sign up, indicating their criteria. Landing Local’s then qualifies potential renters through background and reference checks, one of the most time-consuming tasks for property owners