The short-term rental market in Baltimore, Maryland is thriving, with a high demand for flexible and convenient rentals, a dynamic market influenced by seasonal events and local trends, and opportunities for hosts to capitalize on the city's affordability and attractions while navigating compliant regulations.
Thriving Short-Term Rental Market in Baltimore, Maryland
The short-term rental market in Baltimore, Maryland, is experiencing a significant surge in demand and performance. With over 1,548 short-term rentals available, the city is catering to a growing population seeking flexible and convenient living options. The average price range for these rentals is between $1,311 and $1,836 per month, indicating a robust and competitive market.
Despite the lack of specific occupancy rates and average daily rates in the available data, the trend suggests strong demand, particularly driven by the need for temporary housing due to work relocations and travel. The emphasis on providing unique and attractive amenities such as high-speed internet, smart home features, and convenient access to popular attractions is enhancing the appeal of these rentals. This dynamic market is poised for continued growth, making Baltimore an attractive destination for both renters and investors in the short-term rental sector.
Short-Term Rental Regulations in Baltimore, Maryland for 2024
Registration and Licensing
- All short-term rentals, including both hosted and un-hosted units, must be registered and licensed by the city. This applies to rental periods of less than 90 consecutive nights.
- The licensing fee is $200 for a biennial license in Baltimore City.
Primary Residence Requirement
- Short-term rentals are limited to primary residences only. Hosts cannot operate short-term rentals in properties that are not their primary place of residence.
Neighbor Notification
- Hosts must notify their immediate neighbors of their intention to operate a short-term rental and provide contact information.
Zoning Regulations
- Hosts must ensure their properties are located within appropriately zoned areas. Zoning regulations designate specific areas where short-term rental activities are permissible.
Safety and Compliance
- Rentals may be subject to random inspections for health and safety standards compliance. Hosts must comply with occupancy limits, noise ordinances, and other community guidelines.
- Properties must be free of any code violations to obtain a rental license.
Taxation
- Short-term rentals are subject to state and local taxes, including sales tax and hotel taxes. In Baltimore City, hosts must collect and remit applicable taxes.
Operational Restrictions
- Each homeowner is allowed to obtain a maximum of two short-term rental licenses: one for their permanent residence and another for a secondary unit, provided it meets certain grandfathering criteria.
Reporting Requirements
- Short-term rental platforms are required to report any illegal listings within the city. Failure to comply could lead to criminal charges.
Additional Requirements
- For properties built before 1978, a lead inspection may be required as part of the licensing process in Baltimore County.
- Hosts must provide documentation confirming that the rental property is their main home, such as a driver's license, utility bills, or voter registration records.
Local Ordinances
- Hosts must comply with local ordinances, including those related to noise, parking, and waste management. Baltimore City's zoning ordinances include provisions related to these aspects.
Neighborhoods Generating the Most Airbnb Revenue in Baltimore, Maryland
1. Inner Harbor
- The Inner Harbor is one of the most popular areas in Baltimore, attracting guests with its historic landmarks, local restaurants, upscale shopping, and vibrant nightlife. Airbnbs here, such as the "Luxury Harbor Oasis," offer a quirky and welcoming vibe, making them highly sought after despite the higher prices.
2. Federal Hill
- Federal Hill is a walker's paradise, with numerous shops, restaurants, and attractions like the M&T Stadium and the Convention Center within walking distance. Airbnbs in this area, such as the "Charming Federal Hill One Bedroom" and "Fed Hill & Inner Harbor / BEST Location & Reviews," are highly rated for their convenience and charm.
3. Fells Point
- Fells Point is known for its historic charm, nightlife, and proximity to the Inner Harbor. Guests love the area for its vibrant atmosphere, with attractions like the historic Broadway Market and rooftop decks offering stunning views. The "Cheerful 2-bedroom row house with rooftop deck" is a prime example of a popular Airbnb in this neighborhood.
4. Mount Vernon
- Mount Vernon is a premier neighborhood with easy access to Penn Station and the Inner Harbor. It appeals to guests looking for a mix of historic charm and modern amenities, as seen in the "Private Suite. Stunning and Spacious" Airbnb. The area's upscale vibe and convenient location make it a favorite among travelers.
5. Canton
- Canton is another highly sought-after neighborhood, known for its nightlife and close proximity to the Inner Harbor. Airbnbs like the "Charming Baltimore Home w/Parking - Dog Friendly!" offer a cozy and convenient stay, making it ideal for couples, solo travelers, and small families.
6. South Baltimore (SoBo)
- South Baltimore, or SoBo, is popular among young professionals and Ravens fans due to its proximity to M&T Bank Stadium. The area offers a lively atmosphere with many restaurants and bars, making it an attractive choice for those looking for a vibrant stay.
Why These Neighborhoods Are Appealing
- Proximity to Key Attractions: These neighborhoods are close to major attractions like the Inner Harbor, stadiums, museums, and historic landmarks.
- Walkability and Public Transit: Many of these areas are highly walkable and have easy access to public transit, such as the Charm City Circulator and Light Rail.
- Historic Charm and Modern Amenities: They offer a blend of historic architecture and modern amenities, providing a unique and comfortable stay.
- Nightlife and Dining: The presence of numerous restaurants, bars, and nightlife spots makes these neighborhoods appealing to a wide range of guests.
- Highly Rated Accommodations: Airbnbs in these areas are often highly rated for cleanliness, location, and overall guest experience.
Tips for Furnishing and Designing an Inviting Airbnb in Baltimore, Maryland
Define Your Property's Aesthetic
- Align your furniture choices with the unique style and historical charm of Baltimore. For a 1850s Creole townhouse, for example, opt for antique or antique-inspired pieces to maintain the property's original character.
Choose Functional and Comfortable Furniture
- Focus on multi-purpose furniture to maximize space, especially in smaller apartments. Consider items like sofa beds, Murphy beds, or storage ottomans.
- Invest in high-quality beds and mattresses as they are crucial for guest comfort.
Select Neutral and Versatile Pieces
- Use neutral colors and styles for main furniture items like sofas, beds, and tables to allow for easy changes in decor over time. Add unique touches with throw pillows, rugs, and accessories.
Incorporate Local and Antique Elements
- Hunt for antique or vintage items that reflect Baltimore's history and culture. Estate sales, local auction houses, and flea markets can be great sources for unique pieces.
Utilize Mirrors and Lighting
- Use mirrors to create the illusion of more space and light, especially in smaller or dimly lit areas. Replace harsh overhead lighting with warmer, softer lights to create a soothing ambiance.
Add Rugs Strategically
- Choose rugs that complement the room's layout and size. For example, in a bedroom, place the rug in front of the nightstands, and in a dining room, ensure the rug extends beyond the chairs when they are pulled out.
Create a Layered Decor Approach
- Start with essential "anchor" pieces like beds, sofas, and tables. Add unique, eye-catching items over time to build a cohesive and inviting space.
Consider Budget-Friendly Options
- Look for budget-friendly alternatives such as renting furniture, buying second-hand items, or shopping during sales. This can help you achieve a stylish and comfortable space without breaking the bank.
Pay Attention to Details
- Ensure all necessary amenities are provided, such as small appliances, kitchenware, linens, towels, and toiletries. These details contribute to a welcoming and well-equipped space for your guests.
Use Decor Creatively
- Use wall art, throw rugs, and creative lighting to add warmth, color, and design to the space. Simple DIY projects like stretched canvases or decoupaged items can also enhance the decor.
Protect Your Furniture
- Implement measures to protect your furniture, such as using rug pads, furniture covers, and durable materials to ensure longevity and ease of maintenance.
Discovering Baltimore: Local Attractions and Insider Tips
Must-Visit Attractions
Inner Harbor and Waterfront
- National Aquarium: Home to over 20,000 aquatic animals, including sharks and dolphins. Consider visiting on Friday nights for half-off tickets.
- City Cruises Baltimore: Enjoy dining cruises or private events on the Patapsco River with picturesque views of the historic waterfront.
- Baltimore Maritime Museum: Explore historic ships like the USS Constellation, USS Torsk, and the Lightship Chesapeake.
Museums and Galleries
- National Great Blacks in Wax Museum: A Smithsonian affiliate featuring life-sized wax figures of African American historical figures. Includes rotating exhibitions and live performances.
- American Visionary Art Museum: Dedicated to works by self-taught artists, with a unique and expansive collection.
- Walters Art Museum: One of the world's best art museums, with a collection of over 36,000 objects, including coats of armor, Roman sarcophagi, and Fabergé eggs. Admission is free.
- Reginald F. Lewis Museum of Maryland African American History & Culture: Features thousands of works of art and historical artifacts highlighting Black Marylanders' contributions.
Historical Sites
- Fort McHenry: The birthplace of the American national anthem, "The Star-Spangled Banner." Offers self-guided tours and a museum.
- B&O Railroad Museum: Known as the birthplace of American railroading, with a collection of early American railroading artifacts.
- Frederick Douglass-Isaac Myers Maritime Park: Celebrates African Americans' contributions to Baltimore's maritime industry and preserves one of the city's oldest waterfront industrial buildings.
Sports and Entertainment
- Oriole Park at Camden Yards: Catch a game or take a behind-the-scenes tour during the off-season. The stadium is also home to the Orioles Hall of Fame.
- M&T Bank Stadium: Home of the Baltimore Ravens, located near the Inner Harbor.
- Everyman Theatre: Offers professional theatre with a Resident Company of Artists, providing transformative and affordable experiences.
Family-Friendly Activities
- Maryland Science Center: Features hands-on exhibits and spectacular displays in science and technology. Includes a planetarium and rooftop observatory.
- Port Discovery Children’s Museum: Designed for children ages 2-10, with interactive exhibits and play areas.
- Maryland Zoo: Home to the award-winning Penguin Coast exhibit and a large colony of endangered African penguins.
Insider Tips
Local Neighborhoods
- Fells Point: Known for its restaurants, bars, and old town charm. A popular area for locals and nightlife.
- Canton: Extends from Patterson Park to the waterfront, filled with local gems like restaurants, shops, and bars. Great for watching the sunset at Canton Waterfront Park.
- Federal Hill: Offers nice restaurants and shops, with sweeping views of the harbor from Federal Hill Park.
Dining and Markets
- Faidley’s Seafood: Located in the historic Lexington Market, famous for Maryland’s steamed blue crabs and jumbo lump crab cakes.
- Patterson Park: A large park with a duck pond, ice skating rink, dog parks, and plenty of open space. The park is also home to the Patterson Park Observatory.
Unique Experiences
- Baltimore Water Taxi: A convenient way to navigate the Inner Harbor and enjoy the views.
- Graffiti Alley: Behind the Motor House creative incubator, featuring constantly changing, large-scale graffiti.
- Chessie Dragon Paddleboat and Electric Pirate Ship: Fun rides in the Inner Harbor that bring childhood fantasies to life.
Cultural and Historical Walks
- Edgar Allan Poe Museum: Visit the home and gravesite of the famous author, along with his favorite pub and other significant locations.
- John Waters Tour: Explore the local haunts of Baltimore’s native filmmaker and writer.
By sharing these attractions and insider tips, you can help your guests experience the full charm and diversity of Baltimore.
Practical Tips to Run a Successful Short-Term Rental Business in Baltimore, Maryland
To ensure a smooth and successful short-term rental business in Baltimore, Maryland, several practical tips can be implemented to enhance guest satisfaction and compliance with local regulations.
Noise Regulations and Guest Communication
Inform your guests about quiet hours and noise regulations to maintain harmony with the surrounding neighborhood. Include this information in both digital and physical house manuals to ensure clarity.
Comprehensive House Manuals
Create detailed digital and physical house manuals that include essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact information. This helps guests navigate the property easily and reduces the likelihood of misunderstandings.
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 access the property, along with photos to help them locate the smart lock and any other important features.
Parking Instructions
Include parking instructions with photos in your house manual to guide guests on where and how to park their vehicles. This helps avoid potential issues with neighbors and ensures compliance with local parking regulations.
By following these tips, you can create a welcoming and well-organized environment for your guests, while also adhering to Baltimore's short-term rental regulations and maintaining good community relations.
Here is a brief list of house cleaning providers in Baltimore, Maryland:
House Cleaning Services in Baltimore, MD
Merry Maids of Baltimore
- Offers comprehensive cleaning services with 40 years of experience.
- Provides proven methods and advanced techniques for exceptional results.
- Services include housekeeping to restore balance in your life.
The Canton Cleaning Company
- Provides residential and commercial cleaning services.
- Offers flexible scheduling, quality workmanship, and advanced cleaning supplies.
- Services include bi-weekly or monthly cleaning, disinfection services, and more.
Just Maid 4 You
- Offers simple flat-rate pricing based on the number of bedrooms and bathrooms.
- Uses safe cleaning products and follows a detailed checklist.
- Provides experienced maids and 100% satisfaction guarantee.
Baltimore Home Cleaning
- Provides professional house cleaning and maid services throughout Maryland.
- Offers satisfaction guarantee, background-checked and insured cleaners, and customizable service plans.
- Services include recurring house cleaning, move-in/out cleaning, deep house cleaning, and more.
Short-Term Rental Management Fees in Baltimore, Maryland
In Baltimore, Maryland, the fees for managing short-term rentals, such as those listed on Airbnb or VRBO, can vary significantly based on the level of service provided. Full-service management, which includes comprehensive services like guest communication, marketing, and maintenance coordination, typically ranges from 20% to 30% of the rental revenue. These higher-end services ensure that all aspects of the rental are handled professionally, from advertising the property to managing guest inquiries and coordinating repairs. On the other hand, basic services that may only include listing and booking management might cost between 10% to 20% of the rental revenue. Additionally, property owners may incur extra fees for services such as cleaning, repairs, or design enhancements to attract more guests. Understanding these fee structures is crucial for hosts to manage their expenses and ensure compliance with Baltimore's strict short-term rental regulations.