When the Sundance Film Festival debuts in Boulder for the first time in January, tens of thousands of out-of-state visitors will need somewhere to stay. But some Boulder homeowners are hesitant to open their homes for short-term rentals; it can seem too inconvenient or require too much effort.
KUNC consulted with three local property management companies on how they make the process easier for their clients– and themselves.
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‘A lot of my advice comes from my own personal experience renting’
Jeff Lesser, the founder of Marquee Stays, plans to rent out his own Boulder home during the Sundance Film Festival. For his family, that means turning an office and two kids' bedrooms into guest rooms. Lesser plans to move the princess dresses, toddler bed and tiny desk into the garage and bring in mattresses and bedframes.
“We have a queen-size bed in the garage that we use when people come as guests, and we're going to use that one when people are coming as guests for Sundance,” Lesser said. “And so a lot of my advice comes from my own personal experience renting out my home.”
Lesser recommends buying a mattress cover with handles to keep the mattress and box spring clean when not in use. Also, try to store Sundance furniture in a shed or garage. Storage units, he says, are too expensive.
For him, moving small children’s items is worth the effort.
“We work with a lot of homeowners, and they're like, ‘This is an office and it's got like a big desk and stuff like that’,” Lesser said. “Do I want to go through the hassle of that, or do I just want to keep it as an office and forgo that potential revenue?”
Meaning, renting out only a portion of your home is a good option too.
“There's a lot of people asking me, ‘Do you think one bedroom will rent?’ And my answer is absolutely yes,” Ross Bowdey, the director of Airbnb/Mid-Term rentals for Louisville-based Fox Property Management, said.
Property managers and organizers are encouraging residents to think of any time and money spent on Sundance as part of a long-term commitment. Park City was the festival’s home for more than 40 years.
Boulder signed an agreement to host through 2036. Economic benefits, while uneven, can be significant: Last year, the festival contributed nearly $200 million to Utah’s economy.
“Our hope is that there's a 10-year time horizon for the Sundance Festival being in Boulder or longer,” Lesser said. “And so, you know, the investment of doing this for every year to come afterwards, it’s worth it to buy quality stuff.”
“You just have to make it a little less cluttered”
Figuring out what to do with a houseful of stuff, and then where to go when renters arrive, can be challenging.
Ross Bowdey, with Fox Property Management, knows that vacating mid-January, during Sundance, could be difficult for families with school-aged children or for people without paid time-off from work. He says some of his clients are talking about moving in with neighbors and splitting their rental income.
“Obviously, if you have friends and family nearby that can host you, that's super helpful,” Bowdey said.
Caleb Dickinson, the co-owner of Fox Property Management, has rented out his own Louisville home.
“I think that packing up and like making the home feel ready for someone else was the most stressful part for my partner,” Dickinson said.
He paid a family member to help pack up their belongings in large plastic bins but emphasized that the goal is not to completely move out of the house. Attending Sundance isn’t the same as going to a lake for a vacation. The rental house is generally just a place to sleep.
“You can still have pictures of your kids up on the wall,” Dickinson said. “I would throw away the rotting food, but you can think of it as someone staying in your home…you don't have to get rid of every tchotchke, you just have to make it a little less cluttered.”
Other tips to make moving easier: install a locking handle on an office, basement or closet door; that’s where your stuff goes. Plus, homes can be photographed and listed before they are fully ready for guests. Homeowners can note future improvements.
“I was just telling an owner yesterday, ‘Let's take a picture of that room without the Murphy bed, saying there will be a Murphy bed in here that will sleep two’,” Bowdey said. “And as soon as we get the Murphy bed, let's get that changed out. Listings are fluid now.”
‘I feel an obligation to really take care of the guests that are coming for Sundance’
Rich Reasons, a managing partner with VelareLX, is considering renting out his own north Boulder home if the right client comes along, but for now his company has booked homes for representatives from Netflix and Focus Features, among others.
Homeowners insurance is an important piece of any deal. VelareLX has a third party policy, paid for by guests.
“It's attractive to homeowners, but also attractive to guests,” Reasons said. “It's like, ‘Oh, good. If I spill a glass of red wine on a carpet or a sofa, I know it's going to be taken care of, and I don't have to worry about that.’”
Homeowners who list on Airbnb or VRBO do receive some insurance protection but property managers say to double-check what is covered and for how much. Adding an additional, temporary, rider to your policy is also an option.
“I think it's always good to talk to your homeowner's insurance and tell them what you're doing and ask them what they have as far as coverage,” Ross Bowdey, of Fox Property Management, said.
Boulder’s rental market for Sundance is new and developing– different from Park City’s, a community filled with second and third homes.
Reasons notes that for many Boulder homeowners this will be the first time they are considering renting their homes and dealing with everything that comes with it, from licensing to arranging cleaners.
“That is a meaningful undertaking,” he wrote in an email to KUNC.
Therefore, appropriate pricing– another big question– is a work in progress.
“Homeowners are trying to understand the economics of doing something they have never done before, while Sundance guests are simultaneously trying to understand a housing market that is very different from the one they knew in Park City,” Reasons wrote.
Learn more about renting your home with the City of Boulder's festival lodging application.
