Short-Term Fix Program
What is the Short-Term Fix Program?
Update 1/17/23: The Short-Term Fix Program has closed for the 2022-2023 season. Thank you to our businesses and property owners that made this another successful year!
47 bedrooms added to our long-term rental inventory
24 leases (19 one-year, 5 six-month)
16 renewals from 2021
$990 average rent per bedroom
52 property owners applied
$385,000 total incentives distributed
11 participating businesses:
Stay Winter Park • Down the Street Eats • Smoke House • Waffle Cabin • Carvers • First Transit • Best Western • Rhythm Cycles • Wake n' Bacon • Deno's Mountain Bistro • Alpenglow Massage
The Town of Winter Park offers incentives to property owners who convert their short-term rental property or underutilized second home into long-term workforce housing. Winter Park business owners will be the party entering into a six- or 12-month lease with the property owner. The business owner will then sublease the property to their employees. In this way, the property owner can hold the business owner responsible for any damage to their unit.
Interested parties should fill out an interest form found at the bottom of this page. Your eligibility for the program will be reviewed by a committee. Once a property owner is approved, they will receive a list of businesses interested in a lease. After the property owner and eligible business have signed a master lease, the property owner will submit a copy of the contract and sign the program contract to receive the Short-Term Fix incentive from the Town.
FORM FOR INTERESTED PROPERTY OWNERS FORM FOR INTERESTED BUSINESS OWNERS
For Property Owners
Incentives are structured as follows:
Studios and 1-bedroom units | six-month lease ($5,000) | 12-month lease ($10,000)
2- and 3-bedroom units | six-month lease ($10,000) | 12-month lease ($20,000)
*These incentives would be paid up-front and are in addition to the revenue the property owner would receive from the rental of their property.
Requirements & Eligibility:
- Property must be located within the Fraser Recreation District boundaries (Winter, Fraser, Tabernash, Meadowridge, etc.).
- Property owners would enter into a six- or 12-month master lease with an approved Winter Park small business (50 employees or fewer).
- Eligible units must be a minimum of 300 square feet.
- Eligible dwelling units shall include a kitchen (sink, refrigerator, and range) and a full bathroom (sink, toilet, and shower or bathtub).
- The dwelling unit must have a separate entrance from any adjoining units.
- Second homes that have never been long-term leased or short-term rented are eligible.
- Existing short-term rental units must be in good standing with the Town.
- Property owners participating in the 2021-2022 Short-Term Fix program are eligible for the 2022-2023 incentives, but they must apply again.
- Hotels, bed & breakfasts, and other traditional lodging properties are not eligible.
- New short-term rentals with first bookings after August 1, 2022, are not eligible.
- Rental units that have been long-term leased within the past two years (lease of more than one month).
How to Get Involved:
- Fill out and submit the interest form below by November 15, 2022 (extended deadline!) along with this online submittal form.
- Your information will be reviewed by committee, which meets bi-weekly throughout the fall. Be advised, the committee may ask follow-up questions to ensure eligibility.
- You will receive a letter of initial approval, offered incentive, and list of approved businesses.
- Reach out to provided local businesses, negotiate master lease or licensing agreement. A toolkit is available below with sample agreements.
- Provide the Town with a copy of the master lease to firstname.lastname@example.org by December 1, 2022. Once the lease is reviewed, you will be provided with a program agreement and W9 (also found below in the toolkit).
- Submit your notarized program agreement and completed W9 by December 15, 2022. Incentive payments will be issued prior to December 31, 2022.
Deadlines for Property Owners:
- November 15 - Complete application form (extended deadline!) AND this submittal form.
- December 15 - File an executed Master Lease
- December 22 - Return Program Agreement and W9
FORM FOR INTERESTED PROPERTY OWNERS
For Business Owners
The program offers Winter Park businesses the opportunity to master lease workforce housing units for their employees through either six- or 12-month master leases with property owners. The specific terms of the master lease are not dictated by the program and can be negotiated between interested property owners and businesses. In 2021, the average lease rate was slightly below market rent at $1,100 per bedroom per month. While the incentive is paid to participating property owners, businesses can negotiate rental rates that make sense for their business, knowing that only property owners who successfully negotiate a master lease with an eligible local business will be paid an incentive.
Requirements & Eligibility:
- Businesses must have an existing Winter Park business license issued before September 1, 2022, and be in good standing with the Town.
- Businesses must have a physical location within the municipal boundaries of Winter Park (not just a Winter Park PO Box) that is not a home occupation.
- Businesses must have 50 or fewer employees.
- Businesses must be signers on the master lease; employees seeking housing cannot enter into leases directly.
- You cannot lease to yourself: business owners or partners cannot master lease properties for which they are also an owner or a partial owner for participation in the Short-Term Fix program. Property owners cannot lease to businesses in which they have a business interest.
- Owners of participating businesses are not eligible to receive an incentive as property owners through the Short-Term Fix Program.
How Does the Process Work?:
A committee reviews applications from businesses and property owners approximately bi-weekly throughout the fall. On Fridays following committee meetings, approved businesses and property owners will receive updated contact lists to facilitate the negotiation of master leases. Either the business or property owners can initiate contact.
|Committee Meeting||Updated Communications Lists|
|September 19||September 23|
|October 7||October 21|
|November 2||November 4|
|November 23||November 25|
|December 7||December 9|
Some Good Advice:
Participating businesses should be prepared to serve as the landlord in executed Master Leases as the business could be held responsible for any damage to the rental property and/or unpaid rent. Designate a contact that can be responsive to the property owner in case of issues. Businesses are advised to review the master lease and sublease with legal counsel and may wish to require renter’s insurance.
Interested parties should fill out an interest form found below. Your eligibility for the program will be reviewed by a committee. Once a business is approved, he or she will receive a list of property owners interested in a lease. After the property owner and eligible business have signed a master lease, the property owner will submit a copy of the contract and signed program contract to receive the Short-Term Fix incentive from the Town.
Deadlines for Business Owners:
- December 1 - Complete application form
- December 15 - Execute Master Lease
FORM FOR INTERESTED BUSINESS OWNERS
Frequently Asked Questions
Last year, we had twice as many interested property owners as local businesses. Property owners who successfully negotiated master leases proposed rents slightly lower than market rates and applied early in the application process. Businesses have expressed the most interest in monthly rents of about $1,000 per bedroom.
Still have questions?
If you have further questions regarding the Short-Term Fix program as either a property owner or business owner, we encourage you to contact the Town directly at email@example.com.