Despite recent market adjustments, Broken Bow, Oklahoma, remains a viable and profitable short-term rental market, with a median occupancy rate of 47%, an average daily rate of $277, and an annual host income of $45,000, making it an attractive option for investors.
Thriving Short-Term Rental Market in Broken Bow, Oklahoma
Despite recent market adjustments, the short-term rental market in Broken Bow, Oklahoma, remains a promising investment opportunity. The area continues to attract a steady stream of travelers, particularly for its outdoor activities and family-friendly attractions. As of the latest data, short-term rental listings in Broken Bow boast a median occupancy rate of 47%, indicating a strong demand for these properties.
The average daily rate for these rentals stands at $277, contributing to an annual revenue of approximately $45,000 per typical host. While there has been a recent increase in competition and a slight drop in nightly rates, the overall appeal of Broken Bow's natural beauty and recreational opportunities ensures a stable and profitable environment for short-term rental investments.
Short-Term Rental Regulations in Broken Bow, Oklahoma for 2024
While Broken Bow, Oklahoma, particularly the Hochatown area, is known for its relatively lenient regulations compared to other locations, here are some key points and regulations that apply or are relevant as of 2024:
Licensing and Permits
- As of early 2022, there is no current need to obtain a short-term rental permit in the unincorporated Hochatown area. However, this could be subject to change, so it is important to check for any updates.
Zoning and Construction
- There are no specific permits required for construction in the Hochatown area, which means construction standards may vary and are not regulated by local authorities.
Health and Safety
- While there are no specific local regulations, it is generally advisable to ensure that properties comply with basic health and safety standards, such as proper septic system management and adequate water and electric services.
Property Management
- There are no specific local regulations governing the management of short-term rentals, but property owners are responsible for maintaining their properties and ensuring they meet basic safety and health standards.
Taxes and Fees
- There are no specific local taxes or fees mentioned for short-term rentals in Broken Bow. However, property owners should be aware of any state or federal tax obligations.
Community and Neighborhood
- The lack of regulations means that the density of neighborhoods and the quality of construction can vary significantly. Property owners should be mindful of the impact of their rentals on the local community.
Future Regulations
- It is important to monitor local government announcements, as the town of Hochatown may implement new regulations in the future. For example, the town is enhancing services for the short-term rental market through partnerships like the one with Granicus, effective October 1, 2024.
Given the current lack of stringent regulations, it is crucial for property owners to stay informed about any changes and to maintain their properties in a way that respects the local community and ensures safety and health standards are met.
Top Airbnb Revenue-Generating Neighborhoods in Broken Bow, Oklahoma
Neighborhoods and Their Appeal
Beavers Bend State Park
- Location: Adjacent to Beavers Bend State Park, a popular destination for outdoor activities such as hiking, fishing, and boating.
- Appeal: Guests are drawn to the natural beauty and recreational opportunities of the state park, making properties in this area highly sought after.
Broken Bow Lake
- Location: Near the shores of Broken Bow Lake, a scenic spot for water sports and leisure activities.
- Appeal: The lake's scenic views and various water activities make it an attractive location for families and outdoor enthusiasts.
Hochatown
- Location: A small town near Broken Bow Lake, known for its high concentration of short-term rental properties.
- Appeal: Hochatown's transformation into a "giant Airbnb" offers a wide range of amenities and activities, including hot tubs, fire pits, and proximity to local attractions like wineries and breweries.
Hochatown State Park
- Location: Close to Hochatown State Park, which offers additional outdoor recreational opportunities.
- Appeal: The combination of state park activities and the amenities available in Hochatown makes this area highly appealing for guests looking for a comprehensive vacation experience.
Girls Gone Wine and Mountain Fork Brewery
- Location: Near popular attractions such as Girls Gone Wine and Mountain Fork Brewery.
- Appeal: These locations offer a mix of wine tastings and craft beer, making them attractive to guests looking for a blend of relaxation and local culture.
Rugaru Adventures and Forest Heritage Center Museum
- Location: Close to Rugaru Adventures, an outdoor adventure company, and the Forest Heritage Center Museum.
- Appeal: These attractions provide guests with opportunities for adventure and cultural enrichment, enhancing their overall vacation experience.
Cedar Creek Golf Course and David Boren Hiking Trail
- Location: Near the Cedar Creek Golf Course and the David Boren Hiking Trail.
- Appeal: These locations cater to guests interested in golfing and hiking, offering a mix of leisure and outdoor activities.
These neighborhoods in Broken Bow, Oklahoma, are highly appealing due to their proximity to natural attractions, recreational activities, and local amenities, making them prime locations for generating significant Airbnb revenue.
Creating an Inviting Airbnb in Broken Bow, Oklahoma: Design and Furnishing Tips
Embrace Rustic Charm
- Incorporate traditional décor elements such as wooden beams, stone fireplaces, and outdoor fire pits to capture the authentic rustic charm of Broken Bow.
- Use natural materials like pine, cedar, and reclaimed wood for furniture and accents.
Blend Luxury and Comfort
- Combine rustic elements with luxurious amenities like plush bedding, gourmet kitchens, and private hot tubs to offer an upscale experience.
- Include state-of-the-art entertainment systems and modern appliances to enhance comfort without compromising the rustic feel.
Highlight Natural Beauty
- Design the cabin to maximize views of the surrounding natural scenery, such as the Ouachita National Forest, Broken Bow Lake, and the Kiamichi Mountains.
- Use large windows, decks, and porches to bring the outdoors in and provide stunning vistas.
Family-Friendly Spaces
- For family cabins, ensure ample space with features like playgrounds, BBQ areas, and spacious living rooms.
- Include amenities such as Aerobeds or extra sleeping areas to accommodate different family sizes.
Outdoor Living
- Equip the cabin with outdoor amenities like grills, outdoor fireplaces, and fire pits to encourage outdoor living.
- Provide cozy blankets and s’mores kits to enhance the outdoor experience.
Local Touches
- Incorporate local flavors and culture into the design, such as using Oklahoma-made furniture or decor.
- Add touches like Hochatown-themed apparel and gifts, or local artwork to give the space a unique, regional feel.
Relaxation and Wellness
- Include spa-like amenities such as hot tubs, and recommend local wellness centers like Body Harmony Spa for guests.
- Create a serene atmosphere with plush linens, comfortable seating areas, and soothing color schemes.
Practical Considerations
- Ensure the cabin is well-equipped with essentials like a fully-stocked kitchen, laundry facilities, and ample storage.
- Consider the needs of different types of guests (e.g., families, couples) and tailor the furnishings and amenities accordingly.
Attention to Detail
- Pay attention to small details such as providing coffee makers, books, and games to make the space feel welcoming and homey.
- Add personal touches like welcome baskets or local guides to enhance the guest experience.
Local Attractions and Insider Tips for Broken Bow, Oklahoma
Outdoor Adventures
- Boating on Broken Bow Lake: Enjoy boating, fishing, swimming, and various water sports on the 14,000-acre lake with 180 miles of lush, tree-covered shoreline.
- Hiking in Beavers Bend State Park: Explore the scenic trails, including the David Boren Hiking Trail, and immerse yourself in the natural beauty of the Ouachita Mountains.
- Fly Fishing on the Lower Mountain Fork River: Experience year-round trout fishing and other water activities along the river.
- ATV Trails and Horseback Riding: Embark on exhilarating off-road adventures through the Ouachita Mountains.
- Jet Skiing on Broken Bow Lake: For those who love speed and thrill on the water.
Unique Experiences
- Beavers Bend Safari Park: Drive through a 90-acre safari park and observe animals like bison, zebra, and ostrich in their natural habitat.
- Helicopter Tours: See the breathtaking views of Broken Bow Lake and Beavers Bend State Park from a helicopter with Sky Tours or Semper Fly Helicopters.
- Broken Tiki Tours: Enjoy a fun and comfortable Tiki-themed pontoon boat tour on Broken Bow Lake, complete with fresh air, sunshine, music, and cocktails.
- Beavers Bend Depot & Trail Rides: Take a train ride through the beautiful game reserve of Beavers Bend State Park.
Family-Friendly Activities
- Hochatown Petting Zoo: Interact with friendly animals and support animal rescue and rehabilitation efforts.
- Beavers Bend Mining Company: Let kids mine for gemstones, uncover dinosaur fossils, and enjoy a pirate ship play area and mini-golf.
- Hochatown Amusements: Engage in putt-putt golf, go-karts, and other fun activities.
Entertainment and Dining
- Choctaw Casino Broken Bow: Experience a vibrant gaming atmosphere, live entertainment, and a variety of dining options.
- Hester’s Theatre of Magic: Enjoy a magical show with a blend of magic, illusions, and comedy.
- Local Breweries, Wineries, and Distilleries: Sample local flavors and enjoy the vibrant dining scene in Hochatown.
Insider Tips
- Seasonal Activities: Every season offers unique experiences, from summer water sports to cozy winter cabin retreats with hot tubs and fireplaces.
- Cabin Selection: Choose from a variety of cabins, including those for couples, families, and pet-friendly options to ensure a comfortable stay.
- Local Events: Participate in local events that promise excitement and memorable moments throughout the year.
- Interactive Maps and Directories: Use available maps and directories to find phone numbers, addresses, and details for all activities and attractions.
By providing these recommendations, you can help your Airbnb guests make the most of their visit to Broken Bow, Oklahoma, and ensure a memorable and enjoyable stay.
Practical Tips to Run a Successful Short Term Rental Business in Broken Bow, Oklahoma
To ensure a smooth and enjoyable experience for both you and your guests in Broken Bow, Oklahoma, several practical tips can be implemented:
Noise Regulations and Quiet Hours
Inform your guests about quiet hours and noise regulations to maintain a peaceful environment, especially in areas with nearby residences. Clearly communicate these rules in your listing and within the house manual to avoid any misunderstandings.
Digital and Physical House Manual
Create a comprehensive digital and physical house manual that includes essential instructions, Wi-Fi passwords, and contact information for local services. This manual should also cover the operation of appliances, heating and cooling systems, and any specific rules or guidelines for the property.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with detailed instructions on how to access the property, including parking instructions accompanied by photos to ensure they can find and park at the property easily.
Additional Considerations
- Local Knowledge and Recommendations: Given the area's popularity for outdoor activities, provide guests with local guides and recommendations for hiking trails, lakes, and other attractions.
- Clear Communication: Ensure clear communication regarding directions and access to the property, which is particularly important in the rural setting of Broken Bow.
- Maintenance and Guest Services: Establish reliable local contacts for cleaning, repairs, and other maintenance needs to handle any issues promptly and efficiently.
By implementing these strategies, you can enhance guest satisfaction, reduce potential issues, and maximize the success of your short-term rental business in Broken Bow, Oklahoma.
Here is a brief list of house cleaning, repair, or maintenance providers in Broken Bow, Oklahoma:
Cleaning Services
- Sparkling and Beyond: Offers professional deep cleaning and standard cleaning services for homes, businesses, and commercial properties.
- Classy Cleaning Company & Maintenance: Provides cleaning services and maintenance in the Broken Bow area.
Additional Resources
- Airbnb Cleaners through Turno: Specializes in vacation rental and Airbnb cleaning services in Broken Bow, Oklahoma.
- Top Rated Cleaners on Angi: A list of top-rated cleaners in Broken Bow, OK, based on reviews and ratings.
Short-Term Rental Management Fees in Broken Bow, Oklahoma
In Broken Bow, Oklahoma, short-term rental management fees can vary significantly, typically ranging from 20%-35% of the rental revenue, depending on the level of service provided. Full-service management companies, such as Grand Welcome Broken Bow, Beavers Bend Luxury Cabin Rentals, and Tin Star & Co., which handle comprehensive tasks including guest communication, marketing, and maintenance, tend to charge fees at the higher end of this spectrum.
Basic or partial service management, which may only include specific aspects like marketing or guest services, can be less expensive. Additionally, property owners may incur extra fees for services such as cleaning, repairs, or design enhancements. Understanding these fee structures is crucial for property owners to maximize their rental income and ensure their properties are well-maintained and compliant with local regulations.