Lease to Locals

With this new incentive program, Summit County property owners can earn up to $22,000 by converting their short-term rental into a longer-term rental for our local workforce.

What is Lease to Locals?

Summit County and the Town of Breckenridge have partnered on an incentive program, called Lease to Locals, to unlock new rental housing opportunities for the local workforce. The program provides property owners generous cash incentives to convert their short-term rentals into seasonal and long-term rentals. The program has recently updated incentive amounts for the Winter Season, effective Oct 1 2022.

How the Program Works

1

Verify property qualifies

The property must located in Unincorporated Summit County or the Town of Breckenridge Town Limits and must be a legally licensed short-term rental prior to 10/15/21.

2

Secure Tenants

All Tenants must complete an Employment Verification form and work at least 30 hours per week for an employer based in and serving Summit County. 

3

Sign a Lease

Property Owners must sign either a seasonal (6+ months) or long-term (12+) month or greater lease with qualifying tenants. Leases are not permitted to end between November 1 — March 31.

4

Complete full application

Landing Locals will provide property owners a full application which needs to be completed before the incentive can be dispersed. The funds will be paid in two equal installments — one at the beginning of the lease, and one at the end of the lease (within 60 days of each).

5

Compliance

The applicant must comply with midway and final lease checks to ensure they are in compliance. If they are found out of compliance, they may be disqualified from receiving additional incentive payments.

Incentive Amounts For Homeowners*

Unit Size Seasonal
(6+ months)
Long-Term
(12+ months)
Rent Cap
Per Bedroom
Studio / 1 Bedroom
$5,000
$10,000
$1,500
2 or 3 Bedrooms
$10,000
$20,000
$1,200
4 Bedrooms or Larger
$11,000
$22,000
$1,000

* Effective October 1, 2022

Results to Date*

0
New bedrooms unlocked
0
Locals housed
$ 0 K
Incentives to property owners

*Data as of 9/1/22

Frequently Asked Questions

Summit County and the Town of Breckenridge are partnering on an incentive program to unlock new rental housing opportunities for the local workforce. The program provides property owners generous cash incentives to convert their short-term rentals into seasonal and long-term rentals

  1. The property must be located in Unincorporated Summit County or Town of Breckenridge Town Limits
  2. The property must be a legally licensed short-term rental unit prior to 10/15/2021, and it must be in good standing.
  3. The property must be an active short-term rental converting into a new longer-term rental.
  4. The applicant must be the owner of the property or legally represent the owner or ownership group.
  1. Leases can either be seasonal (6-12 months) or long-term (12+ months)
  2. Leases are not permitted to end between November 1 —March 31
  3. Rental rates are subject to rent maximums based on the unit size (see below)
  4. The maximum incentive amount any one homeowner can receive for a one-year period is $22,000
Rent Caps by unit size
Studio or 1 bedroom = $1,500/month
2 bedrooms = $2,400/month
3 bedrooms = $3,600/month
4 bedrooms or larger = $4,000/month
  1. Tenant Breaks Lease: If a tenant breaks the lease early, they can be replaced with new tenants and the homeowner can receive the second incentive payment. If the homeowner do not replace the tenants within 60 days of the original tenants moving out, the homeowner will be disqualified from receiving the second installment but will not be required to pay back the first installment.
  2. Change of Ownership: If a homeowner sells the property during the lease period, the selling homeowner is disqualified from the program & must return all incentive funds to Summit County Housing Department. The new owners can potentially qualify for the incentive program if they rent to the existing tenants for a minimum of 6-months.  
  3. Failure to Comply with Lease: If the homeowner does not meet lease agreements at the midway & final mark, we will work with the homeowner to rectify the situation. If an agreement cannot be reached, the homeowner will be disqualified from receiving the second installment but will not be required to pay back the first installment.

All Tenants must complete an Employment Verification form and must be working at least 30 hours per week for an employer based in and serving Summit County.

For 2 bedrooms or larger units: The number of Tenants must be equal or greater to the number of bedrooms. The program will make reasonable accommodation to the workforce requirements for those who are disabled, children, or caretakers.

First create a renter profile with Landing Locals. Once we have that information on file we can send you prospective properties that fit your criteria.

Incentive payments are considered taxable income and property owners are required to completed a w9 as part of the application process. The County or Town will issue 50% of the incentive payment to participating property owners approximately 60 days after the lease’s execution date. A second installment of the 50% owner incentive will be issued at the close of the lease, pending compliance checks of the executed lease agreement. 

Tell us more about your property, and we'll get in touch

Please only fill out this form if you are a property owner. If you are a tenant seeking housing, please visit our Renter Page.

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