Airbnb & VRBO Performance in Brooklyn New York.

Short-Term Rental Regulations in Brooklyn, New York for 2024

Registration and Compliance

• Registration Requirement: Short-term rental hosts must register with the Mayor's Office of Special Enforcement (OSE) to obtain a short-term rental registration number.
• Registration Fee: A nonrefundable application fee of $145 is required for registration.
• Registration Validity: The registration is valid for one year and must be renewed annually.

Host and Guest Requirements

• Primary Residence: The rental unit must be the host's primary residence, and the host must be present during the rental period.
• Guest Limitation: Hosts can have a maximum of two paying guests at a time.
• Access to Spaces: Guests must have unrestricted access to all rooms and spaces in the unit.

Property Requirements

• Certificate of Occupancy: The unit must have a valid certificate of occupancy.
• Prohibited Buildings: Short-term rentals are prohibited in certain buildings, such as NYCHA or entire rent-regulated buildings, as listed on the Prohibited Buildings List maintained by OSE.

Booking Platform Regulations

• Verification System: Booking service platforms must use the city's verification system to ensure all short-term rentals are registered. They must stop processing transactions for unregistered short-term rentals.

State and Local Laws

• Multiple Dwelling Law: New York's Multiple Dwelling Law prohibits renting out an entire apartment in most buildings for less than 30 days unless the permanent tenant is present during the stay.
• Exemptions: Rentals for 30 consecutive days or more, and units in "Class B" multiple dwellings approved for legal short-term occupancies, are exempt from the registration requirement.

Enforcement and Penalties

• Enforcement Phase: Starting September 5, 2023, OSE's enforcement focuses on collaborating with booking platforms and ensuring compliance. Hosts renting out entire unregistered units face fines of up to $5,000.
• Application Processing: As of recent updates, more applications have been denied than approved, with many returned for additional information or corrections.

Proposed Changes

• New Legislation: A proposed bill by Councilmember Farah Louis would allow owners of one- and two-family homes to rent their properties for less than 30 days without the host needing to be present, but would still require registration with the city.

Top Airbnb Revenue-Generating Neighborhoods in Brooklyn, New York

1. Boerum Hill

• Average Revenue per Year: $82.6K
• Average Daily Rate: $314.7 per night
• Occupancy Rate: 72%
• Appeal: Boerum Hill is appealing due to its exceptionally convenient location, with easy access to multiple subway lines (A, C, F, and G trains). The neighborhood boasts historic charm, stunning 19th-century architecture, and a strong sense of community. Its proximity to other popular Brooklyn neighborhoods like Cobble Hill and Park Slope adds to its desirability.

2. Crown Heights

• Average Revenue per Year: $55.9K
• Average Daily Rate: $224.1 per night
• Occupancy Rate: 68%
• Appeal: Crown Heights is attractive for its rich cultural heritage, vibrant community life, and excellent transportation links. The neighborhood offers a diverse and enriching experience with its historical and contemporary mix, a safe and inclusive environment, and a unique community vibe. It is also known for its tree-lined streets with classic brownstones and bustling commercial corridors.

3. Lefferts Garden

• Average Revenue per Year: $44.7K
• Average Daily Rate: $162.8 per night
• Occupancy Rate: 75%
• Appeal: Lefferts Garden is appealing due to its convenient location, with multiple subway lines (Q, B, 2, 5) providing easy access to Manhattan and other parts of Brooklyn. The neighborhood is known for its historic architecture, strong sense of community, and cultural diversity. Its proximity to Prospect Park and its reputation as a foodie destination further enhance its appeal.

4. Bedford-Stuyvesant (Bed-Stuy)

• Average Revenue per Year: $45.6K
• Average Daily Rate: $176 per night
• Occupancy Rate: 71%
• Appeal: Bedford-Stuyvesant offers a unique blend of historical charm and vibrant street life. The neighborhood is well-connected by several subway lines and numerous bus routes, making it easy for guests to navigate. It boasts its own local culture, iconic brownstones, cafes, and boutiques, providing an authentic Brooklyn experience.

5. Park Slope

• While specific revenue figures are not provided, Park Slope is highly rated for its location, cleanliness, and amenities.
• Appeal: Park Slope is appealing due to its beautiful and convenient location, steps away from restaurants, bars, shops, and Prospect Park. The neighborhood offers a mix of classic brownstones and modern amenities, with easy access to subways, making it ideal for couples, small families, and business travelers.

Tips for Furnishing and Designing an Inviting Airbnb in Brooklyn, New York

Understanding Your Target Audience

• Identify the type of travelers your Airbnb will attract. If it's near tourist attractions, cater to vacationers; if it's in a business district, focus on corporate travelers.

Balancing Space and Style

• Avoid clutter by choosing efficient, space-saving furniture that maintains a clean, minimalist appeal. This is especially important for guests with large luggage.

Choosing the Right Furniture

• Select furniture that is stylish, visually appealing, and functional. Opt for restrained but stylish pieces to appeal to a wide range of guests. Unique and character-rich furniture can add a quirky vibe but may not appeal to everyone.

Maximizing Seating and Tables

• Provide ample seating while leaving enough space in the room. Consider a two-piece sofa set or a sectional sofa with a configurable layout. Choose circular tables for their space efficiency and casual appeal, but rectangular tables can be better if they fit into corners.

Utilizing Multi-Purpose Pieces

• Use adjustable and multi-purpose furniture to maximize floor area. Choose surfaces with wheels for added convenience and to prevent floor damage.

Reflecting Local Culture

• Incorporate elements that reflect Brooklyn's unique culture and heritage, such as local artwork, decor, or a guidebook highlighting nearby attractions and activities.

Bedroom Essentials

• Ensure bedrooms are light and bright with a focus on one or two hues for a pop of color. Use high-quality mattresses (at least 8” thick) and consider memory foam for durability. Provide a bed with a nice headboard, a dresser or chest of drawers, and nightstands with reading lights and phone chargers.

Lighting and Ambiance

• Use pleasant lighting to enhance the ambiance. Include decorative lamps on nightstands and nightlights throughout the space to ensure safety and comfort.

Adding Decorative Touches

• Integrate decorative objects thoughtfully to avoid clutter. Limit one decorative item per piece of furniture and choose items that reflect the local style and your Airbnb's theme.

Providing Essential Amenities

• Include essential items such as universal phone chargers, outlet converters, iron and ironing board, kitchen utensils, bathroom essentials (towels, soap, shampoo), and small appliances like toasters and kettles.

Maintaining a Neutral yet Unique Style

• Strike a balance between neutral, universally appealing styles for major furniture items and unique touches that reflect the owner’s personality. Ensure these unique elements do not overpower the space.

Setting a Budget

• Establish a budget that includes both initial costs and ongoing maintenance expenses. This will help you allocate resources wisely and ensure your Airbnb remains in top condition.

Discover Brooklyn: Top Attractions and Insider Tips for Your Visit

Top Attractions in Brooklyn

1. Brooklyn Bridge

• An iconic New York City landmark offering spectacular views of lower Manhattan and Brooklyn Heights. Whether you walk, bike, or drive, it's a must-see.

2. Brooklyn Museum

• With over 1 million pieces of art and artifacts, this museum is a treasure trove for history lovers. It features Egyptian, African, European, Japanese, and Oceanic art, among others.

3. Coney Island

• A classic seaside fairground with Luna Park, famous for its Ferris wheel and roller coasters. Don't miss Nathan’s Famous for a chili cheese dog or Paul’s Daughter for lobster rolls.

4. Brooklyn Botanic Garden

• A serene escape from the city, featuring thousands of types of flora and the annual Sakura Matsuri Festival in the spring. It's a great spot for some chill time.

5. Prospect Park

• A lovely park for a relaxed afternoon, offering various recreational activities and beautiful scenery. It's close to the Brooklyn Museum and Botanic Garden.

6. Brooklyn Bridge Park

• A fantastic waterfront area with a walkway offering incredible views of Manhattan and the river. It's a great place to enjoy the city's skyline.

7. Brooklyn Academy of Music (BAM)

• A multi-arts center hosting live theatre, dance, stand-up comedy, plays, opera, and movies. Check the program of events to secure tickets.

8. Dumbo and Jane’s Carousel

• Visit Dumbo for iconic shots of the Manhattan Bridge and enjoy a ride on Jane’s Carousel, a traditional all-weather carousel.

Insider Tips

Dining

• Westville and Juliana’s: Great spots for lunch and dinner. Juliana’s is famous for its pizzas, including the No.1 pizza with white truffles from Oregon.
• Atrium Dumbo: Reserve a table for cocktails and dinner; this place fills up quickly.

Local Events

• Sakura Matsuri Festival: Visit the Brooklyn Botanic Garden in the spring to see the blooming Cherry Esplanade.
• Next Wave Festival: An annual festival at BAM featuring multimedia and multigenre art.

Additional Tips

• Book Tours and Tickets Early: Secure your entry to popular spots like the Brooklyn Museum and Coney Island tours before they get booked up.
• Explore Neighborhoods: Check out Williamsburg, Dumbo, and Dyker Heights for unique experiences and local culture.

By sharing these attractions and tips with your guests, you'll help them make the most of their visit to Brooklyn.

Practical Tips to Run a Successful Short Term Rental Business in Brooklyn, New York

To operate a successful short-term rental business in Brooklyn, New York, several practical tips can enhance the guest experience and ensure compliance with local regulations.

Noise Regulations and Quiet Hours

Inform your guests about quiet hours to maintain a peaceful environment and avoid potential conflicts with neighbors. Include clear guidelines on noise levels in your house manual and communicate these rules through pre-arrival messages.

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 manual should also outline the house rules, including quiet hours, to ensure guests are well-informed.

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 photos of the lock and any other relevant entry points.

Parking Instructions

If your property offers parking, include detailed instructions with photos in your house manual. This helps guests navigate parking options easily, reducing the likelihood of confusion or issues.

By implementing these strategies, you can ensure a smooth and enjoyable experience for your guests while also complying with Brooklyn's stringent short-term rental regulations, such as those outlined under Local Law 18.

Here is a brief list of house cleaning providers in Brooklyn, New York:

Neva Home Cleaning

• Offers home cleaning and maid services on an hourly basis in Brooklyn, Manhattan, and NYC.
• Services include basic home cleaning, kitchen cleaning, bathroom cleaning, deep cleaning, custom cleaning, move in/out cleaning, and more.
• Insured and bonded.

Diamond Maids

• Provides house cleaning services in various Brooklyn neighborhoods.
• Services include regular house cleaning, deep cleaning, home organizing, move-in/move-out cleaning, and post-construction cleaning.
• Known for professional and friendly staff, flexible scheduling, and thorough cleaning.

Lazy Susans Cleaning Service

• Specializes in apartment cleaning in Brooklyn, offering general, regular, and deep cleaning services.
• Uses background-checked and insured cleaners with up-to-date cleaning tools and products.
• Offers flexible scheduling and a 100% satisfaction guarantee.

Cleaning Brooklyn

• A full-service cleaning company operating 7 days a week in Brooklyn and surrounding areas.
• Services include deep cleaning, with a guarantee of satisfaction and competitive rates.
• Licensed, bonded, and insured with on-site supervision of cleaning staff.

Short-Term Rental Management Fees in Brooklyn, New York: A Breakdown of Costs and Services

In Brooklyn, New York, short-term rental management fees can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management companies, such as MyHouseMgmt and MasterHost, which handle comprehensive tasks including guest communication, marketing, price optimization, and property maintenance, tend to charge fees on the higher end of this spectrum, often between 15% to 25% of the rental income.

Basic services, which may include only the essentials like listing creation and calendar management, can be more affordable, starting at around 10% of the rental revenue. Additionally, hosts may incur extra fees for services such as cleaning, repairs, and interior design, which can further impact the overall cost of managing a short-term rental property in Brooklyn.