Denver Short-Term Rental Market Report 2025: What Property Owners Need to Know

Last Updated: October 2025

If you’re a Denver property owner considering entering the short-term rental market—or already operating one—you’re in the right place. The Denver STR market in 2025 is showing remarkable resilience and growth, but success requires understanding the numbers, knowing the regulations, and implementing proven strategies.

At ELEVATE Short Term Rentals, we’ve managed properties across Denver’s most profitable neighborhoods, consistently achieving occupancy rates 15-20% above market averages. This report combines the latest market data with our on-the-ground insights to help you make informed decisions about your property investment.

Executive Summary: Denver STR Market at a Glance

The Bottom Line: Denver’s short-term rental market remains one of the strongest in the nation, with solid fundamentals and growing demand across multiple guest segments.

Key 2025 Metrics:

• Average Annual Revenue: $38,000 per property
• Citywide Occupancy Rate: 65-72% (depending on source and neighborhood)
• Average Daily Rate (ADR): (148-)187
• Active Listings: ~4,200-5,700 properties
• Year-over-Year ADR Growth: 8%
• Revenue per Available Room (RevPAR) Growth: 11%

What This Means: Denver is outperforming comparable markets like Salt Lake City and Minneapolis, with strong demand supporting healthy occupancy despite increasing inventory.

Market Performance: The Numbers That Matter

Overall Market Strength

Denver’s short-term rental market has demonstrated impressive growth and stability through 2025. Despite a 15% increase in active listings compared to 2024, demand has kept pace, preventing the oversupply issues plaguing some vacation markets.

Revenue Trends:

• Average nightly rates have increased 8% year-over-year to $187
• RevPAR (Revenue per Available Room) is up 11%, indicating strong pricing power
• Properties are averaging $38,000 in annual revenue
• Monthly revenue potential: $12,000+ for well-managed properties

Occupancy Performance:

• Citywide occupancy rates: 65-72% year-round average
• Peak season occupancy (summer/ski season): 76-82%
• This compares favorably to the national STR average of 56%
• Denver ranks as the 3rd highest occupancy market in the contiguous U.S.

Seasonal Patterns

Denver exhibits strong seasonality with distinct booking patterns:

Peak Months (Highest Occupancy & Rates):

• May: Spring tourism, mild weather, outdoor activities begin
• July: Summer peak, conventions, Red Rocks concerts, family vacations
• December-February: Ski season proximity drives bookings
• Memorial Day & Labor Day weekends: Significant spikes

Shoulder Seasons (Moderate Performance):

• March-April: Transitional months with growing demand
• September-October: Fall colors, comfortable weather, business travel resumes

Strategic Insight: Savvy hosts leverage dynamic pricing to maximize revenue during peaks while using promotional rates to fill gaps during slower midweek periods in shoulder months.

Neighborhood Analysis: Where the Money Is

Not all Denver neighborhoods are created equal when it comes to STR performance. Location can impact your ROI by as much as 35%.

Premium Performers (Highest Revenue Potential)

1. LoDo (Lower Downtown)

• Average Nightly Rate: (220-)350
• Occupancy Rate: 76%
• Best For: Modern condos and lofts
• Guest Profile: Business travelers, tourists, convention attendees
• Why It Works: Walkability score of 95, proximity to Union Station, restaurants, nightlife
• Annual Revenue Potential: (50,000-)65,000

2. RiNo (River North Art District)

• Average Nightly Rate: (180-)300
• Occupancy Rate: 78% (peak season)
• Best For: Industrial-chic spaces, lofts
• Guest Profile: Experience-seeking millennials, creatives, foodies
• Why It Works: Street art, craft breweries, The Source, Denver Central Market
• Key Advantage: Properties near destination hotspots outperform neighborhood average by 15-20%
• Annual Revenue Potential: (45,000-)60,000

3. Cherry Creek

• Average Nightly Rate: (200-)450
• Occupancy Rate: 68%
• Best For: Luxury condos, upscale homes
• Guest Profile: Affluent travelers, luxury shoppers, high-end business visitors
• Why It Works: Premier shopping, fine dining, cultural institutions
• Requirements: Premium finishes, generous space, concierge-level amenities
• Annual Revenue Potential: (48,000-)70,000+

4. Highland/LoHi

• Average Nightly Rate: (160-)275
• Occupancy Rate: 72%
• Best For: 2-3 bedroom homes with outdoor space
• Guest Profile: Families, groups, extended stays
• Why It Works: Residential charm + urban accessibility, excellent restaurants, pedestrian-friendly
• Premium Factor: Properties with outdoor spaces and downtown views command significant premiums
• Annual Revenue Potential: (40,000-)55,000

Emerging Neighborhoods (Best Growth Potential)

These areas are seeing the fastest revenue growth and offer better entry points for investors:

Sloan’s Lake

• Growing popularity, lakefront appeal, more affordable than established areas
• Strong family appeal and outdoor recreation access

Berkeley

• Authentic neighborhood feel, excellent restaurant scene
• Lower competition, improving infrastructure

Platt Park

• South Denver location, family-friendly, good value proposition
• Steady demand from extended-stay guests and families

Capitol Hill

• Walking distance to downtown, museums, hospitals
• Mix of business and leisure travelers
• Great for properties near medical district (traveling nurses, hospital visitors)

South Broadway

• Eclectic shops, music venues, proximity to downtown
• More accessible property values with strong ROI potential
• Rapidly increasing guest interest

Guest Demand Trends: Who’s Booking in Denver?

Understanding your target guests is critical to optimizing your property and marketing strategy.

Primary Guest Segments

1. Extended Stays (14+ Nights) – 24% of Bookings

• Up from 18% in 2024 – fastest growing segment
• Traveling nurses, corporate relocations, project-based professionals
• High-value guests seeking home-like amenities
• What They Want: Dedicated workspace, full kitchen, in-unit laundry, reliable WiFi
• Pricing Strategy: Offer weekly/monthly discounts (25-35%)

2. Business Travelers

• Conventions, corporate meetings, project work
• Consistent weekday demand, especially downtown and near business districts
• What They Want: Workspace, fast WiFi, proximity to meeting locations, parking
• Peak Demand: Tuesday-Thursday

3. Leisure Tourists

• Red Rocks concerts, outdoor recreation, cultural attractions, brewery tours
• Weekend and summer concentration
• What They Want: Unique spaces, local recommendations, walkability to attractions

4. Family Travelers

• Visiting relatives, vacations, graduations, sporting events
• Need for space and multiple bedrooms
• What They Want: Full kitchens, family-friendly amenities, parking, outdoor space

5. Medical Travel

• Visiting patients, accompanying family, traveling healthcare professionals
• Growing segment near hospital districts (Capitol Hill, Denver Health area)
• Extended stays common for patient recovery periods

What Guests Expect in 2025

The bar has been raised significantly. To compete effectively:

Non-Negotiable Basics:

• High-speed WiFi (100+ Mbps) – no longer a “differentiator,” it’s expected
• Spotless cleanliness with professional-grade standards
• Quality photos that accurately represent the space
• Responsive communication (within 1 hour for inquiries)

Premium Amenities That Boost Occupancy 15-20%:

• Outdoor spaces (patios, yards, balconies with views)
• Pet-friendly policies (massive demand, limited supply)
• Smart home features (keyless entry, smart thermostats, streaming devices)
• Dedicated workspace with ergonomic setup
• Premium kitchen setup (not just basics)
• Washer/dryer in unit

Design Matters:

• Properties with professional interior design and staging see measurably higher occupancy
• Instagram-worthy spaces generate organic marketing through guest photos
• Feng Shui principles and thoughtful layouts enhance guest satisfaction

Regulatory Landscape: What You Must Know

Denver has some of the most restrictive STR regulations in Colorado, but understanding and complying with them is non-negotiable. Violations carry severe penalties, including felony charges.

Primary Residence Requirement (The Big One)

The Rule: Only properties that serve as your primary residence can be licensed as short-term rentals in Denver.

What This Means:

• You must live in the property for more than half the year (185+ days)
• You can only have ONE primary residence
• Investor-owned properties and multiple STR licenses per person are prohibited
• This effectively prevents building a multi-property STR portfolio within Denver city limits

Proof Required:

• Valid Colorado driver’s license or state ID with property address
• Two additional documents: vehicle registration, voter registration, utility bills, or tax returns

Why This Exists: Denver designed this regulation to prevent commercial operators from converting residential housing stock into de facto hotels, addressing affordable housing concerns.

The Felony Trap: Providing false information about primary residence can result in felony charges, punishable by 2-6 years in prison and fines up to $500,000. Denver has actively prosecuted hosts for fraudulent applications.

Licensing Requirements

Step-by-Step Process:

1. Obtain Lodger’s Tax ID
   • Required before applying for STR license
   • Register with Denver Department of Finance
2. Apply for Short-Term Rental License
   • Application fee: $150 (initial)
   • Annual renewal: $100
   • Process through Denver Permitting and Licensing Center online
   • Review typically takes 7-10 business days
   • 90% of applications are now compliant (up from lower rates in prior years)
3. Provide Required Documentation:
   • Proof of primary residence (see above)
   • Proof of property ownership OR signed lease permitting subletting
   • Floor plan showing guest-accessible areas
   • Proof of liability insurance ($1 million minimum)
   • Local contact/property manager information
   • Safety compliance (see below)
4. Display License Number
   • Must be visible on all online listings (Airbnb, Vrbo, etc.)
   • Airbnb has specific field for “Registration/License Number”

Renewal: Annual renewal required before expiration to avoid penalties and potential license revocation.

Zoning Compliance

Short-term rentals are permitted as an accessory use in most Denver residential zones (R-1, R-2, RMU-20, CMU-10) where primary residential uses are allowed.

Accessory Dwelling Units (ADUs):

• Carriage houses, basement apartments, etc. CAN be rented short-term
• Must still meet primary residence requirement (you live in the property, guests in the ADU)

Safety Requirements

Mandatory Equipment:

• Functioning smoke detectors in all sleeping areas
• Carbon monoxide detectors
• Fire extinguisher (accessible and not expired)
• All must be regularly inspected and maintained

Insurance:

• Minimum $1 million general liability coverage
• Must specifically cover short-term rental use
• Standard homeowners policies typically exclude STR activity
• Platform coverage (Airbnb’s AirCover) does NOT satisfy Denver’s requirement

Tax Obligations

Lodger’s Tax: 10.75%

• Applies to all stays under 30 consecutive days
• Collected from guests
• Filed quarterly (even if $0 due to platform collection)

Sales Tax:

• Colorado state sales tax: 4.0%
• Denver city sales tax: 4.81%
• Combined: 8.81%

Important: While Airbnb and Vrbo remit lodger’s tax automatically, you’re still required to file quarterly returns showing this collection.

Enforcement & Penalties

Denver takes compliance seriously:

• Staff regularly inspects properties and monitors listings
• Third-party monitoring of 25+ online platforms
• Recent lawsuits filed against illegal operators
• Penalties: Up to $999 per violation, license revocation, felony charges for false statements

Current Compliance: Approximately 90% of active listings are now properly licensed (significant improvement from earlier years).

Investment Strategy: Making Denver STR Work for You

Given Denver’s primary residence requirement, strategic approaches vary by investor type.

For Owner-Occupants (Most Common Denver Strategy)

Scenario: You live in Denver and want to rent your home short-term when traveling or rent out extra space.

Advantages:

• Fully compliant with regulations
• Generate income while maintaining your home
• Offset mortgage/living costs
• Flexibility to use property personally

Optimization Tips:

• Convert basements or ADUs into guest suites while living upstairs
• Block out personal use periods strategically (avoid peak demand)
• Price aggressively during high-demand events
• Build in extended-stay discounts to attract travel nurses and corporate guests

Revenue Potential: (20,000-)50,000 annually depending on property type and availability

For Denver Homeowners Considering STR

Questions to Ask:

1. Does your neighborhood attract tourist or business demand?
2. Is your home suitable (parking, outdoor space, multiple bedrooms)?
3. Are you willing to maintain Superhost-level hospitality standards?
4. Can you compete with professionally managed properties?
5. Do you have the time or budget for professional management?

Co-Hosting Solution: Partner with a professional management company like ELEVATE to handle:

• Guest communication and booking management
• Professional photography and listing optimization
• Dynamic pricing to maximize revenue
• Cleaning and maintenance coordination
• Regulatory compliance
• ²⁴⁄₇ guest support

Our clients typically see revenue increase 30-50% after partnering with professional management while reclaiming their time and eliminating stress.

For Real Estate Investors

The Denver Challenge: Primary residence requirement means you can’t build a traditional STR portfolio within Denver city limits.

Alternative Strategies:

1. Focus on Surrounding Areas Denver metro suburbs and mountain towns within 2-hour radius have different regulations:

• Colorado Springs: Permits both owner-occupied and non-owner-occupied STRs (with different rules)
• Boulder County: Has separate licensing for primary residence vs. vacation rentals
• Mountain towns: Most allow non-owner-occupied STRs (though regulations are tightening)
• Aurora, Lakewood, Arvada: Check specific municipal codes

2. Long-Term Furnished Rentals

• Rentals 30+ days aren’t subject to STR regulations
• Strong demand from corporate relocations, travel nurses, project-based professionals
• Lower turnover costs, more stable income
• Can still achieve premium rates vs. unfurnished rentals

3. Mid-Term Rental Strategy (28+ days)

• Sweet spot between STR flexibility and regulatory compliance
• Traveling healthcare workers, corporate housing, relocations
• Airbnb and Furnished Finder platforms support this niche
• Less restrictive licensing in most Colorado jurisdictions

Revenue Optimization: How to Outperform the Market

Average annual revenue of (38,000 is just that—average. Top-performing properties earn )60,000-$80,000+ annually. Here’s how:

1. Professional Photography & Staging

Impact: Properties with professional photos book 2-3x faster and command 15-20% premium rates.

Investment: (300-)800 for photography; (2,000-)5,000 for staging ROI: Pays for itself within 1-2 months

Pro tip: Hire photographers who specialize in short-term rentals and understand how to capture “lifestyle” shots that sell experiences, not just rooms.

2. Dynamic Pricing Strategy

The Problem: Most hosts set a nightly rate and leave it static, leaving massive money on the table.

The Solution: Use data-driven tools to adjust rates based on:

• Local events (Red Rocks concerts, conventions, Broncos games)
• Seasonal demand curves
• Day-of-week patterns (weekends vs. weekdays)
• Competitor pricing
• Last-minute booking urgency

Tools We Use: PriceLabs, Wheelhouse, Beyond Pricing integrated with real-time market data

Impact: Dynamic pricing typically increases revenue 20-35% vs. static pricing.

3. Multi-Platform Listing Strategy

The Data: Properties listed on multiple platforms see 18-25% higher occupancy than single-platform listings.

Platform Mix:

• Airbnb: Largest audience, strongest brand recognition
• Vrbo: Family travelers, longer stays, higher-value bookings
• Booking.com: International travelers, business guests
• Direct bookings: Highest profit margin (no platform fees)
• Furnished Finder: Traveling nurses and medical professionals

The Challenge: Managing rate parity and availability across platforms requires channel management software or professional management.

4. Optimize for Extended Stays

The Trend: 28+ day bookings are the fastest-growing segment (up from 18% to 24% of bookings).

Why It Matters:

• Lower turnover costs (fewer cleanings)
• More stable income
• Higher lifetime value per guest
• Less wear and tear

How to Attract:

• Offer aggressive weekly discounts (15-20%)
• Offer monthly discounts (25-35%)
• Emphasize workspace, full kitchen, laundry in listing
• Target traveling nurses, corporate relocations, house-hunters
• List on Furnished Finder in addition to Airbnb/Vrbo

5. Achieve & Maintain Superhost Status

Superhost Benefits:

• Prominent badge in search results
• Higher search ranking priority
• 10-15% increase in bookings
• Access to Superhost-only support

Requirements:

• 4.8+ overall rating
• 90%+ response rate within 24 hours
• % cancellation rate
• 10+ completed stays annually

Our Track Record: 100% of ELEVATE-managed properties achieve Superhost or Guest Favorite status.

6. Amenity Upgrades That Pay Off

High-ROI Improvements:

• Pet-friendly policy: 20-30% increase in potential guest pool (massive demand, limited supply)
• Outdoor space upgrades: Patio furniture, string lights, fire pit, grill ((1,000-)3,000) = 15% rate premium
• Workspace optimization: Adjustable-height desk, ergonomic chair, dual monitors ((800-)1,500) attracts extended stays
• Smart home features: Smart locks, thermostats, voice assistants ((500-)1,000) improve guest experience and operational efficiency
• Premium bedding & linens: Hotel-quality experience ((500-)1,000) generates better reviews

Lower-ROI Traps:

• Hot tubs (high maintenance, liability concerns, mixed reviews)
• Over-the-top decor that doesn’t photograph well
• Excessive furniture that makes spaces feel cluttered

Competitive Landscape: Standing Out in a Growing Market

With 4,200-5,700 active listings in Denver, differentiation is critical.

What Top Performers Do Differently

1. Exceptional Guest Communication

• Response within 1 hour (not 24 hours)
• Proactive check-in instructions
• Local recommendations guide
• Check-in during stay
• Immediate issue resolution

2. Obsessive Cleanliness

• Professional cleaning services (not DIY)
• All linens washed between stays (including duvet covers—not standard practice!)
• High-touch surface sanitization
• Cleaning supplies provided for guest use
• Cleanliness mentioned in EVERY five-star review for top properties

3. Thoughtful Design

• Cohesive aesthetic that photographs well
• Functional layouts optimized for guests (not just pretty)
• Local artwork and touches that create sense of place
• Adequate storage, hooks, surfaces for guest belongings

4. Five-Star Hospitality Mindset

• Welcome basket or local treats
• Quality coffee and basics provided
• Early check-in/late check-out flexibility when possible
• Anticipate needs before guests ask
• Go above and beyond to create memorable experiences

At ELEVATE, we bring award-winning hotel hospitality experience to every property we manage. This background sets us apart from typical property managers who focus on transactions rather than guest experiences.

Common Mistakes Denver Hosts Make

Learn from others’ errors:

1. Underestimating Time Commitment Reality: Managing an STR well requires 10-15 hours weekly for guest communication, cleaning coordination, maintenance, pricing adjustments, and problem-solving.

2. DIY Photography iPhone photos don’t compete with professional listings. Period.

3. Set-It-and-Forget-It Pricing Static pricing leaves 20-30% of potential revenue on the table.

4. Ignoring Reviews Every review matters. A single bad review (especially related to cleanliness or accuracy) can tank your bookings for months.

5. Skimping on Cleaning Cleanliness is the #1 factor in guest reviews. Cutting corners here is business suicide.

6. Poor Communication Slow responses, vague instructions, or unavailability during guest stays creates negative experiences that lead to bad reviews.

7. Regulatory Non-Compliance Operating without proper licensing or falsifying primary residence documentation can result in fines, license revocation, and even criminal charges.

Is Denver STR Right for You? Decision Framework

Green Lights (Strong Indicators You Should Proceed):

✅ You own a property in a high-demand Denver neighborhood ✅ The property is (or can be) your legal primary residence ✅ You’re willing to invest in professional photography, staging, and amenities ✅ You can commit to hospitality excellence or hire professional management ✅ Your property has strong fundamentals (parking, outdoor space, good layout) ✅ You understand and can comply with all regulations ✅ You’re patient building reviews and reputation (not get-rich-quick)

Red Lights (Proceed with Caution or Reconsider): 🚫 Property is not your primary residence and you want to operate in Denver proper 🚫 Your neighborhood has low tourism or business travel demand 🚫 Property needs significant upgrades you can’t afford 🚫 You don’t have time for guest management and can’t afford professional help 🚫 You’re not willing to maintain pristine cleanliness standards 🚫 Your HOA prohibits short-term rentals 🚫 You’re risk-averse about regulatory changes or enforcement

The ELEVATE Difference: Why Professional Management Matters

The data is clear: professionally managed short-term rentals significantly outperform DIY efforts.

What We Bring to Your Property

Hotel Hospitality Expertise Our team brings decades of award-winning luxury hotel management experience. We don’t just manage properties—we create exceptional guest experiences that generate five-star reviews and repeat bookings.

Strategic Real Estate Investment Knowledge We analyze market data, optimize pricing, and make strategic recommendations to maximize your property’s ROI.

Certified Feng Shui & Interior Design Our unique expertise in Feng Shui and data-driven design psychology creates spaces that guests love and book repeatedly. Every design choice is intentional and revenue-focused.

Dynamic Revenue Optimization We use sophisticated pricing tools and real-time market analysis to ensure you never leave money on the table during peak demand or struggle with vacancies during slower periods.

Full-Service Management

• Professional photography and listing optimization
• Multi-platform distribution (Airbnb, Vrbo, Booking.com, direct bookings)
• ²⁴⁄₇ guest communication and support
• Cleaning and maintenance coordination with vetted vendors
• Regulatory compliance management
• Financial reporting and tax documentation
• Revenue optimization and market analysis

Proven Results

• 100% of our properties achieve Superhost or Guest Favorite status
• Average occupancy rates 15-20% above market averages
• Clients typically see revenue increase 30-50% vs. self-management
• Consistent five-star review ratings

Our Markets

We serve:

• Denver and Boulder metro area
• Colorado Springs
• Fort Collins
• Mountain towns within 2-hour radius
• Huntsville/Athens, Alabama (expanding markets)

2025-2026 Market Outlook

What We’re Watching

Positive Indicators:

• Denver International Airport continues ranking among busiest in U.S.
• Strong job growth in tech, aerospace, energy, and healthcare sectors
• Convention and business travel recovery ongoing
• Extended-stay demand growing rapidly
• RevPAR growth outpacing comparable markets

Potential Headwinds:

• New hotel supply entering market (70% concentrated in downtown/airport areas)
• Rising property taxes affecting investor returns
• Potential for additional regulatory restrictions (though unlikely given current compliance rates)
• Economic uncertainty affecting discretionary travel spending
• Mortgage rates remaining elevated (6.6% as of Q1 2025)

Our Forecast: Denver’s STR market will remain strong through 2026, with occupancy rates stabilizing in the 65-75% range and continued moderate ADR growth (4-6% annually). Properties that differentiate through exceptional hospitality, professional management, and strategic amenities will continue to thrive.

The primary residence requirement will keep supply relatively constrained compared to unrestricted markets, supporting healthy competition and preventing oversaturation.

Getting Started: Your Next Steps

If You’re Ready to Launch Your Denver STR

Immediate Action Items:

1. Verify Eligibility

• Confirm property is/can be your primary residence
  • Check HOA/lease restrictions
  • Research neighborhood demand
• 2. Calculate Potential Returns
  • Use our revenue projections by neighborhood
  • Factor in expenses (cleaning, utilities, platform fees, management, etc.)
  • Compare to long-term rental income
• 3.Assess Property Readiness
  • Professional photography needed?
  • Staging or furniture required?
  • Safety equipment installed?
  • Insurance updated?
• 4.Decide on Management Approach
  • Self-manage (10-15 hours/week commitment)
  • Hire professional management (typically 20-30% of revenue)
  • Hybrid approach (you handle some tasks, outsource others)
• 5.Complete Regulatory Requirements
  • Obtain Lodger’s Tax ID
  • Apply for STR license
  • Update insurance
  • Gather required documentation

Partner with ELEVATE

Schedule a Free Consultation

We offer complimentary property evaluations including:

• Neighborhood-specific revenue projections
• Competitive analysis
• Design and staging recommendations
• Listing audits
• Regulatory compliance roadmap
• Customized management proposal

No obligation. No pressure. Just expert guidance to help you make the best decision for your property.

👉 **Contact ELEVATE STR to schedule your free consultation**

Final Thoughts

Denver’s short-term rental market in 2025 offers compelling opportunities for property owners who understand the landscape and commit to excellence. While the primary residence requirement limits who can participate, it also creates a more stable, sustainable market with less speculation and oversupply.

Success in this market requires:

• Strategic positioning in high-demand neighborhoods
• Regulatory compliance without exception
• Hospitality excellence that generates five-star reviews
• Revenue optimization through dynamic pricing and multi-platform distribution
• Professional execution or expert management partnership

The properties that win are those that treat short-term rental hosting as a hospitality business, not just passive real estate income. Guest expectations have never been higher, but the rewards for meeting them are substantial.

Whether you choose to self-manage or partner with professionals like ELEVATE, the Denver market offers solid potential for property owners willing to invest in quality and guest experience.

Ready to elevate your property’s performance? Let’s talk.

About ELEVATE Short Term Rentals: We’re a boutique hospitality company specializing in luxury short-term rental management across Denver metro and select markets. Our team brings award-winning hotel management experience, Feng Shui design expertise, and data-driven revenue optimization to every property we manage. We don’t just list properties—we create exceptional guest experiences that drive reviews, bookings, and revenue.

This report is for informational purposes only and does not constitute legal, financial, or investment advice. Regulations and market conditions change frequently. Always consult with licensed professionals for specific guidance related to your situation.