Bismarck, North Dakota, is experiencing a robust short-term rental market, particularly during the summer months, with high demand and a respectable ROI score, making it an attractive option for investors and travelers alike.
Thriving Short-Term Rental Market in Bismarck, North Dakota
Bismarck, North Dakota, is experiencing a robust short-term rental market, driven by its stable economy and high demand for housing. While specific occupancy rates and average daily rates for short-term rentals in Bismarck are not readily available in the latest data, the city's overall real estate market indicates a healthy and competitive environment. The ROI Score for Bismarck's short-term rentals is 58 out of 100, suggesting a viable investment opportunity.
The city's strong economic backdrop, supported by a low unemployment rate and growing population, contributes to the stability and attractiveness of its rental market. With a median home price that is relatively stable and a high demand for housing, Bismarck presents a favorable scenario for short-term rental investors and travelers alike, offering a range of convenient and flexible rental options.
Short-Term Rental Regulations in Bismarck, North Dakota for 2024
Licensing and Registration
- All short-term rental properties must be licensed, which involves an application process and a fee.
Tax Obligations
- Hosts are responsible for collecting and remitting a 7% sales tax and a 2% lodging tax on all bookings.
Zoning Regulations
- Certain residential areas are off-limits for short-term rentals. Hosts must comply with zoning laws and check the zoning map for specific district regulations.
Guest Limits
- There is a strict regulation regarding the maximum number of guests allowed per rental, with a limit of two guests per bedroom.
Neighborhood Considerations
- Short-term rental businesses must be respectful of neighbors, and hosts should be aware of any community or homeowner association regulations that may apply.
State Registration
- Hosts must register with the North Dakota Office of State Tax Commissioner to collect and remit state taxes.
Local Compliance
- In addition to state registration, hosts may need to register with local tax authorities and comply with local ordinances, including rules on advertising, neighborhood notification, and building standards.
Tax Filing Requirements
- Hosts must file tax returns each assigned filing period, even if no short-term rental income was generated (known as “zero dollar returns”).
Penalties for Non-Compliance
- Failure to comply with tax laws and regulations can result in fines, interest penalties, and in extreme cases, legal action.
Other Regulations
- Hosts must ensure compliance with any specific rules related to signage, parking, and other local regulations.
High-Revenue Airbnb Neighborhoods in Bismarck, North Dakota
Top Neighborhoods for Airbnb Investments
When considering investment opportunities for Airbnb properties in Bismarck, North Dakota, several neighborhoods stand out due to their appealing features and high revenue potential.
1. Downtown Bismarck
- Appeal: Proximity to local restaurants, shops, and cultural attractions.
- Revenue Potential: Areas close to downtown Bismarck are highly sought after by guests due to the convenience and vibrant atmosphere, making them prime locations for high Airbnb revenue.
2. Riverfront Areas
- Appeal: Scenic views of the Missouri River, access to parks and recreational activities.
- Revenue Potential: The riverfront offers a unique blend of natural beauty and urban amenities, attracting guests who want to enjoy both outdoor activities and city life.
3. Neighborhoods Near State Capitol
- Appeal: Historical significance, proximity to government buildings and local landmarks.
- Revenue Potential: Guests interested in history, politics, or attending events at the state capitol find these neighborhoods particularly appealing, driving up demand and revenue.
4. Areas Close to Bismarck State College and University of Mary
- Appeal: Convenience for students, parents, and visitors to the educational institutions.
- Revenue Potential: These areas attract a steady stream of guests related to the colleges, ensuring a consistent flow of bookings and revenue throughout the year.
These neighborhoods are highly attractive to guests due to their unique blend of convenience, amenities, and local attractions, making them ideal for generating significant Airbnb revenue in Bismarck, North Dakota.
Creating an Inviting Airbnb in Bismarck, North Dakota: Design and Furnishing Tips
Define Your Property's Aesthetic
- Align your property's aesthetic with the local culture and history of Bismarck. Incorporate elements of North Dakota's heritage into the decor to enhance the property's attractiveness.
Focus on Comfort and Functionality
- Ensure the space is comfortable and functional. This includes providing amenities such as fireplaces, heated floors, and well-stocked bookshelves, which are particularly appealing in Bismarck's cold winters.
Utilize Outdoor Spaces
- Incorporate outdoor amenities like decks, patios, or fire pits for cozy evenings under the stars. These features are highly sought after by guests in Bismarck.
Reflect Local Charm
- Incorporate local charm by using decor that highlights the city's rich history and the charm of the Midwest. This can include Art Deco-style elements or items that reflect the state's outdoor activities.
Provide Essential Amenities
- Offer amenities that cater to various guest needs, such as pet-friendly accommodations and access to hiking or biking trails. Proximity to local attractions like the North Dakota Heritage Center & State Museum and Fort Abraham Lincoln State Park can also increase the property's appeal.
Seasonal Considerations
- Consider the seasonal fluctuations in Bismarck. Ensure the property is equipped with amenities that are appealing during both summer and winter months, such as outdoor spaces for summer and indoor comforts for winter.
Maintain High Standards
- Regular maintenance and cleaning are crucial to keep the property appealing to potential guests. Leveraging local partnerships for these services can help streamline operations.
Personal Touches
- Add personal touches such as a well-curated bookshelf or local artwork to make the space feel more welcoming and unique. This can help guests feel more connected to the local culture.
Strategic Design
- Use professional design principles to ensure the space is both functional and aesthetically pleasing. This includes selecting furnishings that are durable and reflect the local style.
Discover Bismarck, North Dakota: Local Attractions and Insider Tips for Your Guests
Must-Visit Attractions
1. North Dakota State Capitol
- Take a guided tour to admire the neoclassical architecture, stunning art, and breathtaking views from the observation deck.
2. Dakota Zoo
- Home to over 600 animals from 125 species. Highlights include the Jack and Joyce Schuchart Big Cat Complex and the overhead viewing platform for gray wolves.
3. Fort Abraham Lincoln State Park
- Explore reconstructed military buildings, General Custer’s House, and the On-A-Slant Indian Village. Enjoy hiking trails and scenic views of the Missouri River.
4. North Dakota Heritage Center & State Museum
- Immerse yourself in North Dakota’s history with exhibits on dinosaurs, Native American tribes, and pioneers. Don’t miss the Northern Lights Atrium and the Capitol Arboretum Trail.
5. Lewis and Clark Riverboat Cruises
- Enjoy a scenic cruise along the Missouri River with live entertainment and delicious cuisine. Perfect for a family outing or a romantic evening.
Cultural and Historical Sites
6. Former Governors' Mansion
- Tour the meticulously restored mansion and explore the 1903 Carriage House and the extensive flower garden.
7. Keelboat Park
- Visit the replica keelboat, Lewis and Clark Statue, and enjoy the riverwalk. Ideal spot for watching the sunset.
8. Chief Looking’s Village
- Offers stunning views of the Missouri River and Mandan. Great for picnics and sunset viewing.
Outdoor Activities
9. Patterson Lake Recreation Area
- Enjoy fishing, boating, hiking, or relaxing by the tranquil lakeside.
10. McDowell Dam Nature Park
- Explore the natural beauty of the park, perfect for outdoor activities like hiking and birdwatching.
11. Riverfront Trail
- A 2.9-mile paved trail connecting several parks along the Missouri River. Great for walking, jogging, or biking.
Family-Friendly Fun
12. SuperSlide Amusement Park
- Features thrilling rides, go-karts, mini-golf, and an arcade, ensuring a day of excitement and laughter.
13. Papa’s Pumpkin Patch
- A seasonal attraction with games, zip lines, hayrides, and more. Perfect for families during the fall season.
Local Tips and Hidden Gems
14. Bismarck Art Alley
- Explore the vibrant murals by local artists in downtown Bismarck. A great spot for photography and art enthusiasts.
15. Bismarck-Mandan Art Trail
- Download the mobile passport to discover 45 locations with incredible local art. Earn prizes as you check in at various art-filled locations.
16. Dakota Stage Ltd
- Catch a live performance at this community theater known for its exceptional productions.
17. Hawktree Golf Club
- Tee off at this renowned golf course designed by James Engh, offering challenging play and breathtaking views of the Missouri River Valley.
Insider Tips
- Sunset Viewing: Chief Looking’s Village and Keelboat Park are ideal spots to watch the sunset.
- Local Events: Check the Bismarck-Mandan Events Calendar for upcoming events and festivals.
- Shopping: Visit Kirkwood Mall for a diverse retail experience with over 80 stores.
- Dining: Explore local eateries and cafes along the riverfront for a taste of Bismarck’s culinary scene.
- Outdoor Activities: Take advantage of the numerous bike and walking trails, and consider renting bikes to explore the city.
By sharing these attractions and insider tips, you can help your guests make the most of their visit to Bismarck, North Dakota.
Practical Tips to Run a Successful Short-Term Rental Business in Bismarck, North Dakota
To ensure a smooth and successful short-term rental business in Bismarck, North Dakota, several practical tips can be implemented:
Noise Regulations and Guest Communication
Inform your guests about quiet hours to maintain a respectful environment for neighbors. Include clear noise regulations in your house rules and communicate them through a welcome message or a physical notice at the property.
Comprehensive House Manual
Create both 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 need for frequent host interventions.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with detailed check-in instructions, including photos of the property entrance and any specific steps they need to follow.
Parking Instructions
Include detailed parking instructions with photos to help guests find and use the designated parking areas. This can be part of the digital or physical house manual, ensuring that guests are aware of parking rules and regulations to avoid any issues.
By implementing these strategies, you can enhance the guest experience, reduce potential conflicts with neighbors, and maintain a well-organized and efficient short-term rental operation in Bismarck, North Dakota.
Here is a brief list of house cleaning providers in Bismarck, North Dakota:
House Cleaning Providers in Bismarck, ND
AnCo Cleaning Company
- Offers residential and commercial cleaning services, including weekly, bi-weekly, monthly, seasonal, and one-time cleanings.
- Specializes in post-construction/remodeling deep cleans and move-in/out cleanings.
701 Cleaning
- Provides deep house cleaning services, including custom schedules and eco-friendly products upon request.
- Also offers commercial cleaning services and moving cleaning services.
Keely's Cleaning Crew
- Offers personalized cleaning services for homes and offices, including move-in and move-out cleaning and post-construction cleanup.
- Known for attention to detail, flexible scheduling, and reasonable pricing.
Short-Term Rental Management Fees in Bismarck, North Dakota
In Bismarck, North Dakota, the fees for managing short-term rentals typically range from 10% to 30% of the rental revenue, varying based on the level of service provided. Full-service management, which includes guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often ranging between 20% to 30% of the rental income.
Basic services, such as listing and booking management, may incur lower fees. Additionally, hosts may need to account for extra fees for cleaning, repairs, and design services. For instance, some management companies charge a separate cleaning fee that is passed on to the guests, while also covering consumable items and maintenance costs within their service packages. Understanding these fee structures is crucial for hosts to ensure they are complying with local regulations and maximizing their rental revenue.