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Aerial drone photo of the Rugged Rocky Mountains of Breckenridge, Colorado.

Currently, 3,000 properties in the Town of Breckenridge, Colorado are licensed as short rentals, that's over 40% of the town’s total housing stock. These licenses cost up to $325 a year and allow property owners to legally rent out their homes for a few nights at a time through sites like Airbnb or VRBO. Now, the town is trying to get that number down to just 2,200.

That’s because in September the town council unanimously voted to place a cap on the number of non-exempt licenses in the popular skiing and hiking destination (short-term rentals with desk staff and security are exempt from the cap).

The hope in Breckenridge is that limiting the number of short term rentals will open up more housing for people who work in the town and make it more affordable to live there.

“People who work in restaurants, schools, or in first response are leaving because they can’t afford to live here,” says Mayor Eric Mamula, who also owns a restaurant in town. “Many of them have been kicked out of rental units that buyers are now using for short-term rentals.”