Boulder's new Airbnb rules sparked a gold rush ahead of the Sundance Film Festival
Source: Business Insider ·
Boulder's strict Airbnb rules have given way to a rental bonanza as the city gears up for Sundance Film Festival: "The market is all over the place."
From the source
Matthew DeFeo for BIRoss Bowdey was trying to be reasonable. Residents of his hometown of Boulder had been dreaming big for months: The Sundance Film Festival was slated to make its Colorado debut there in January, and many homeowners figured they could make a killing by renting their places to the regular crowd of celebrities and cinephiles. But Bowdey, a longtime property manager, cringed at the lofty dollar figures being floated — in some cases, nearly $10,000 a night for homes that had no business asking that much.He recently met with owners who were interested in renting out their three-bedroom condo in downtown Boulder during the festival. What the home lacked in size it made up for in location, right off the town's main strip. Bowdey thought he could get them about $2,500 a night."Their response to me was, 'You're not even close,'" Bowdey tells me.Ross Bowdey is the director of Airbnb and mid-term rentals for Fox Property Management.Matthew DeFeo for BISundance's decision to…
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