Smart strategies to help you cover the cost of owning in the mountains.
How to Make Your Mountain Home More Affordable
Thinking about buying a home in Crested Butte? Renting it out short-term can help cover expenses while you enjoy the perks of ownership. Here’s how to make the most of your mountain investment.
If you're looking to buy a home in Crested Butte, using your mountain property as a short-term rental is a smart way to help offset costs. The short-term rental market in the valley continues to perform well, with an average of 200 rental days per year. By renting your home when you're not using it, you can generate income while still enjoying the benefits of owning a vacation property in the mountains.
Decide: Self-Manage or Hire a Property Manager?
Owning a rental property comes with responsibility. Before jumping in, decide how you want to manage your short-term rental: do it yourself or hire a professional?
Option 1: Self-Manage Your Rental
If you have the time and experience, managing your own Airbnb or VRBO listing lets you keep most of your rental income. You’ll be responsible for bookings, guest communication, and hiring a cleaner to handle turnovers between stays. You’ll also need to be available (or have someone local) to handle any guest issues that arise during their stay.
Option 2: Hire a Property Management Company
If you'd rather take a hands-off approach, hiring a property management company can be worth the investment. These companies typically charge around 30% of your rental income, but they handle everything—from marketing and guest services to cleaning and maintenance. It's a stress-free way to generate additional income.
Local Property Management Companies in Crested Butte
Here are a few trusted options in the area
Alpine Property Crested Butte – 970-349-5303
Iron Horse Property Management – 970-349-7313
Crested Butte Property Management – 970-349-5780
Estimate Your Potential Rental Income
To get a quick estimate of your yearly rental income, multiply your average nightly rate by 200 (the average number of rental days per year in the area).
For example:
If your average nightly rate is $350, your estimated annual rental income would be $70,000.
Keep in mind: This estimate will vary depending on how often you use your home. If you stay in your home during peak seasons, when nightly rates are highest, your rental income will likely be lower.
Use Market Data to Your Advantage
A helpful (and free) resource for estimating potential income is AirDNA. By creating a no-cost account, you can access extensive, accurate data about short-term rental performance in Crested Butte and beyond. This includes average daily rates, occupancy rates, seasonal trends, and much more.
We're Here to Help
Crested Butte remains a strong market for short-term rentals, and using your mountain home to generate income can make ownership more realistic and affordable. Whether you decide to self-manage or hire a professional, it’s a great way to make your home work for you.
If you’re thinking about purchasing a home in Crested Butte or have questions about turning a property into a successful vacation rental, reach out anytime. We're here to be your Crested Butte real estate resource.
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Not sure if it’s the right time to buy or sell? Need trusted advice or local expertise? Dawn and her team is here to guide you every step of the way. Let’s discuss your goals and create a plan tailored just for you!