Asheville, North Carolina, not New York, is experiencing strong performance in the short-term rental market, with a market score of 78, an average occupancy rate of 65%, and an average daily rate of $236, making it a highly profitable and stable investment opportunity.
Thriving Short-Term Rental Market in Asheville, North Carolina
Asheville, North Carolina, continues to shine as a vibrant and lucrative market for short-term rentals. The city boasts an impressive occupancy rate, with typical listings achieving a median occupancy of 65%, highlighting the strong demand for these accommodations. The average daily rate for short-term rentals in Asheville stands at around $236, according to recent data, although some sources indicate a slightly lower average of $131.
This combination of high occupancy and robust daily rates makes Asheville an attractive destination for both visitors and investors. The city's unique charm, vibrant arts scene, and natural beauty contribute to its appeal, ensuring a steady stream of travelers throughout the year. With a market score of 78 or 82, depending on the source, Asheville is well-positioned for continued growth and profitability in the short-term rental sector.
Short-Term Rental Regulations in Asheville, North Carolina for 2024
Note: Asheville is located in North Carolina, not New York.
General Regulations
- Prohibition on Non-Owner-Occupied STRs: As of 2018, short-term rentals of entire dwellings are banned in most residential areas, except for properties zoned as "resort".
Homestays
- Definition: Rentals of one or two bedrooms in an owner-occupied home for less than 30 days.
- Permit Requirement: Homestays must obtain a permit from the City of Asheville Development Services Department.
- Documentation Needed:
- Completed homestay permit application form
- Proof of property ownership or a lease agreement
- Floor plan of the property indicating the rooms to be rented
- Proof of insurance covering short-term rentals
- Self-inspection checklist verifying safety requirements are met
- Application fee ($200).
Vacation Rentals (Non-Homestays)
- Allowed in Resort Zoning: Entire dwelling units can be rented out only in areas specifically zoned as "resort".
- Permit Requirement: Vacation rental permits are required.
- Documentation Needed:
- Completed vacation rental permit application form
- Proof of property ownership or a lease agreement
- Site plan of the property
- Designated parking spaces for guests
- Neighborhood notification letter
- Proof of insurance
- Compliance with building codes and safety regulations.
Compliance and Enforcement
- Annual Permit Renewal: Both homestay and vacation rental permits must be renewed annually.
- Health and Safety: Properties must meet fire and safety standards, including smoke alarms and carbon dioxide detectors.
- Parking: Properties must provide the required number of parking spaces based on the number of bedrooms rented.
- Taxes: Operators must pay applicable taxes, including occupancy and sales taxes (6% occupancy tax and 7% combined sales tax in Buncombe County).
- Enforcement: The city relies on complaints from residents to identify and investigate illegally operating STRs. Violations can result in a daily $500 fine and potential legal action.
Proposed Changes
- Potential Lifting of Ban: A proposed bill from 2023 aims to lift the ban on non-owner-occupied STRs in residential zones, though this remains under debate and community discussion.
Additional Requirements
- No Advertising or Signage: No visible advertising or signage is allowed for vacation rentals.
- Residential Lighting: Outside lighting must be residential in nature.
- No Additional Activities: Only lodging services can be provided; no other activities are permitted.
Top Neighborhoods Generating Airbnb Revenue in Asheville, NC
1. Downtown Asheville
- Appeal: Downtown Asheville is a hub of vibrant culture, offering easy access to award-winning restaurants, bakeries, local breweries, and an energetic nightlife. Guests can walk to Pack Square, Biltmore Avenue, and the Grove Arcade, making it ideal for those who want to experience the city's full spectrum of activities and amenities.
- Features: Many top-rated vacation rentals, convenient location, high-speed internet, fully equipped kitchens, and secure access to buildings.
2. Montford Area Historic District
- Appeal: This historic neighborhood is known for its beautiful Arts and Crafts-style homes, charming bed-and-breakfasts, lush parks, and local cafes and restaurants. It is just a few blocks from downtown Asheville, providing a blend of historic charm and urban convenience.
- Features: Historic homes, welcoming community, local snacks and drinks upon arrival, and easy walking distance to downtown.
3. Biltmore Village
- Appeal: Biltmore Village is a popular destination for history lovers, with the Biltmore Estate and Mansion nearby. It offers a community feel, local restaurants, and a quiet, affluent environment that is welcoming to tourists.
- Features: Proximity to the Biltmore Estate, local eateries, and a community-oriented atmosphere.
4. West Asheville
- Appeal: West Asheville provides a local feel with easy access to downtown. It is known for its walkable neighborhood with favorite spots like Izzy’s, Odds Coffee, Biscuit Head, and Sunny Point Café. The area offers modern condos with luxurious amenities.
- Features: Modern kitchens, luxurious master suites, tranquil garden hammocks, and proximity to local favorites.
5. Black Mountain
- Appeal: For those seeking a more natural experience, Black Mountain is located just 20 minutes from downtown Asheville and offers a serene mountain setting close to the Pisgah National Forest. It provides cheaper accommodation options while still being accessible to natural scenery.
- Features: Natural scenery, proximity to Pisgah National Forest, and more affordable accommodation options.
These neighborhoods are highly appealing due to their unique blend of natural beauty, historic charm, and urban amenities, making them top choices for generating Airbnb revenue in Asheville, NC.
Creating an Inviting Airbnb in Asheville: Design and Furnishing Tips
Tip 1: Embrace Contemporary Design with a Touch of Local Flavor
- Opt for a sleek and minimalist look with clean lines and neutral colors, but incorporate local aesthetics to reflect Asheville's unique style. Use natural materials like wood and stone to add warmth and authenticity.
Tip 2: Use Statement Pieces and Textural Elements
- Invest in quality, statement furniture pieces such as couches, coffee tables, and dining room tables that define the space. Add textural elements like grasscloth wallpaper or vintage rugs to avoid a drab, neutral look.
Tip 3: Incorporate Nature and Eco-Friendly Practices
- Bring nature inside by adding plants, which can liven up the space and add freshness. Incorporate eco-friendly practices and sustainable materials to align with Asheville's environmentally conscious vibe.
Tip 4: Create Instagram-Worthy Moments
- Design spaces that are visually appealing, such as a cozy reading nook or a dreamy outdoor seating area. Use accent walls, interesting wallpapers, and quirky art pieces to create Instagram-worthy moments.
Tip 5: Focus on Comfort and Luxury
- Prioritize comfortable and stylish bedding, including organic sheets, down feather pillows, and genuine leather bolsters. Ensure quality mattresses and thoughtful lighting to enhance the guest experience.
Tip 6: Utilize Multi-Purpose Spaces
- Since kitchens may not be allowed in some areas, consider a beverage station that can also serve as a sitting area. This can help maximize the use of space and provide additional amenities for guests.
Tip 7: Blend Modern and Vintage Elements
- Mix modern and vintage pieces to create a unique and inviting atmosphere. This blend can add character to the space and reflect Asheville's eclectic style.
Tip 8: Highlight Local Colors and Materials
- Incorporate colors and materials that reflect the local environment, such as clay-colored tiles or elements that mimic the red clay found in the mountainside. This helps connect the interior design to the exterior natural beauty.
Tip 9: Add Personal Touches and Amenities
- Include personal touches like games, a bottle of wine or bourbon, and other small details that make guests feel taken care of. Consider amenities like hot tubs, fireplaces, and game rooms to enhance the vacation experience.
Tip 10: Optimize for Natural Light and Ambient Lighting
- Make the most of natural light and supplement it with ambient lighting to ensure the space is comfortable for various activities. This can significantly enhance the overall ambiance of the Airbnb.
Title: Discover Asheville, North Carolina: Local Attractions and Insider Tips for Airbnb Hosts
Local Attractions
Cultural and Historical Sites
- Biltmore Estate: A must-visit, this grand chateau-style mansion offers gardens, trails, and a winery.
- Basilica of Saint Lawrence: Marvel at the largest freestanding elliptical dome in the country.
- Asheville Art Museum: Explore American art of the 20th and 21st centuries and the unique artistic history of Western North Carolina.
- Asheville Museum of History: Learn about the city's rich history and cultural heritage.
Outdoor Adventures
- Blue Ridge Parkway: Drive through the Southern Appalachians and enjoy scenic views and outdoor activities.
- River Arts District: A former industrial area turned arts district with studios, galleries, and restaurants.
- Asheville Botanical Gardens: Stroll through beautiful gardens featuring a variety of plant species.
- Waterfall Hunting: Explore the many waterfalls in the region, perfect for hiking and swimming.
Unique Experiences
- The Omni Grove Park Inn: Enjoy stunning views, a spa, and historic charm.
- Drum Circle at Pritchard Park: Experience the vibrant community and street performances.
- Asheville Pinball Museum: A fun spot for pinball enthusiasts with a wide range of machines.
- Lexington Glassworks: Watch live glassblowing and shop for handmade glass art.
Downtown Asheville
- Grove Arcade: A historic building with shops, restaurants, and a lively atmosphere.
- Pack Square Park: A central park in downtown Asheville with events and street performances.
- Woolworth Walk Art Gallery: A gallery featuring local and regional artists.
Insider Tips
Dining and Nightlife
- Independent Shops and Craft Breweries: Downtown Asheville is filled with unique shops, breweries, and dining options.
- Live Music Venues: Check out The Orange Peel, Grey Eagle, and the Asheville Symphony Orchestra for live music performances.
Outdoor Activities
- Hiking and Biking: Explore the numerous trails and parks in the Blue Ridge and Great Smoky Mountains.
- Whitewater Rafting and Ziplining: Visit the Nantahala Outdoor Center or the Adventure Center of Asheville for adrenaline-packed activities.
Local Events
- Street Performances: Enjoy buskers and street performers near the Grove Arcade and Pack Square Park.
- Guided Tours: Take a guided history tour with Asheville by Foot to explore the city's Art Deco buildings and rich heritage.
Additional Tips
- Birding and Wildlife: Asheville is home to hundreds of bird species and native wildlife; practice birding or go on a mountain safari.
- Moog Music Factory and Moogseum: Visit to learn about electronic music history and see synthesizers being made.
By providing these local attractions and insider tips, your Airbnb guests will have a comprehensive guide to experiencing the best of Asheville, North Carolina.
Practical Tips for Running a Successful Short Term Rental Business in Asheville, North Carolina
Note: Asheville is located in North Carolina, not New York.
To run a successful short-term rental business in Asheville, North Carolina, several practical tips can help you navigate the city's stringent regulations and enhance the guest experience.
Noise Regulations and Guest Communication
Ensure you inform your guests about the quiet hours and noise regulations in Asheville. Include a section in your digital and physical house manual outlining the quiet hours and the importance of respecting the neighborhood.
Comprehensive House Manual
Create a detailed digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important information. This manual should also cover safety procedures, appliance usage, and emergency contact details.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with clear instructions on how to use the smart locks and ensure they have all necessary access codes before their arrival.
Parking Instructions
Include detailed parking instructions in your house manual, accompanied by photos to help guests understand where and how to park. This is particularly important given Asheville's specific regulations regarding parking for short-term rentals.
By adhering to these tips, you can ensure compliance with local regulations, enhance guest satisfaction, and maintain a positive reputation for your short-term rental business in Asheville.
Here is a brief list of house cleaning, repair, or maintenance providers in or around Ashville, New York:
House Cleaning Services
- Master Cleaning by Higginbothams: Provides janitorial and residential cleaning services in Ashville, NY, with 40 years of experience.
- Homeaglow: Offers professional, affordable, and background-checked house cleaners in Ashville, NY. You can book a 3-hour clean starting from $19.
Note
There are no listed providers for repair or maintenance services specifically in Ashville, NY, in the provided sources. However, for broader maintenance needs, you might consider services from companies that operate in nearby areas or national chains that may offer such services.
For example, while not specifically in Ashville, NY, Handy provides various handyman and maintenance services, although the provided source is more focused on housekeeping in Asheville (which is different from Ashville, NY).
Short-Term Rental Management Fees in Ashville, New York: A Comprehensive Guide
In Ashville, New York, the fees for managing short-term rental properties can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes comprehensive tasks such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often starting at around 20% of the revenue.
Basic service packages, which may only cover essential management tasks, can be less expensive but still incur additional fees for specific services like cleaning, repairs, or design enhancements. These additional fees can add up, so it's crucial for property owners to understand all the components of the management fees to make an informed decision. Moreover, compliance with local regulations and obtaining necessary permits are essential, as violations can result in significant fines.