Airbnb & VRBO Performance in Cody Wyoming.

Short-Term Rental Regulations in Cody, Wyoming for 2024

Registration and Licensing

• Short-term rental operators must register their property and obtain a business license from the City Clerk's office. The application includes a $50 fee, and licenses must be renewed annually.

Zoning and Ownership Requirements

• Short-term rentals are restricted in certain zoning districts. For example, in R-2 or R-2MH zoning districts, the dwelling cannot be used as a short-term rental if the owner is living elsewhere, even seasonally.
• Authorized owner-occupied methods include:
• Rental of a portion of the dwelling (room rental) while the owner is living in the dwelling.
• Rental of an accessory dwelling unit while the owner is living in the main dwelling.
• Rental of the main dwelling while the owner is living in the accessory dwelling unit.
• Rental of a dwelling while the owner is living in a dwelling on a lot immediately next door.

Inspection Requirements

• The dwelling must be inspected for compliance with the short-term rental requirements of the City of Cody Code prior to operation and at least annually thereafter. Inspections are also required upon any change of ownership and every third year after the initial inspection.

Occupancy Limits

• Occupancy is limited based on the number of bedrooms:
• One guest bedroom: four guests
• Two guest bedrooms: six guests
• Three guest bedrooms: eight guests
• Four or more guest bedrooms: ten guests
• Guests sleeping in living rooms, family rooms, or sun rooms are allowed if required emergency escape openings are provided.

Parking Requirements

• Each short-term rental rented to a single group must have one off-street guest parking space meeting the city's requirements. For individually rented bedrooms, one off-street space for every two guest sleeping rooms or fraction thereof is required.

Tax Compliance

• Short-term rentals are classified as lodging facilities by the state. Hosts must register the lodging facility business with the Wyoming Department of Revenue and pay the required state sales tax (4%) and lodging tax (5%).

Fire and Life Safety

• Facilities must pass fire and life safety inspections annually. Emergency contact numbers (manager and 911) must be clearly posted.

Annual Renewal

• All short-term rental facilities must register with the City of Cody, provide evidence of compliance, and pass the necessary inspections annually by May 1st. A late fee may be assessed for non-compliance.

Online Listing Requirements

• Starting May 1, 2023, the City registration number for the unit must be included in all online listings.

Top Neighborhoods for Airbnb Revenue in Cody, Wyoming

1. Downtown Cody

• Appeal: Downtown Cody is highly appealing due to its proximity to local breweries, restaurants, museums, and shops. Properties like the "2 King Beds in Downtown by Roam Cody Yellowstone" and "Markham 34 sleeps 10 -4bdrm/4bath- Downtown Cody" are favorites among guests. The area offers a luxurious and cozy experience with easy access to amenities, making it a prime location for high revenue generation.

2. Neighborhoods Near Sage Creek and Outskirts of Cody

• Appeal: Areas just outside of historic Cody, such as the location of the "Almosta Ranch Lodge - On Sage Creek", are attractive for their mountain views, native wildlife, and the opportunity to interact with highland cows. The scenic drive to Yellowstone's East Gate and the tranquil setting make these properties highly sought after.

3. Areas Close to Parks and the Shoshone River

• Appeal: Neighborhoods that offer walking distance to parks and the Shoshone River, like the "Pilot Peak Escape", are popular. These locations provide world-class fishing opportunities, pet-friendly fenced yards, and breathtaking mountain views, making them ideal for families and outdoor enthusiasts.

4. Central Residential Areas

• Appeal: Properties in central residential areas, such as the "Bison Bungalow - 3 blocks to downtown", are favored for their bright and cozy atmosphere, private yards, and easy access to downtown amenities. These locations offer a balance of privacy and convenience, which is highly appealing to guests.

These neighborhoods generate significant Airbnb revenue due to their excellent locations, amenities, and the overall guest experience they provide, making Cody an attractive destination for various types of travelers.

Creating an Inviting Airbnb in Cody, Wyoming: Design and Furnishing Tips

To craft an Airbnb in Cody, Wyoming, that is both inviting and reflective of the city's unique style, consider the following tips:

Entryway and First Impressions

• Design the entryway to make a strong first impression. Ensure it feels welcoming and thoughtfully arranged.
• Provide amenities such as a key drop-off point, a welcome note, and perhaps some local treats to make guests feel special.

Living Room

• Opt for an open layout that encourages conversation and socializing, ideal for groups and families.
• Incorporate comfortable and stylish furniture, such as plush sofas and armchairs, that fit the rustic and luxurious mountain lifestyle.
• Use lighting control with lamps and dimmer switches to create a cozy atmosphere.
• Add occasional tables and ensure each guest has a place to set their drinks.
• Include a pouf or ottoman for additional seating and comfort.
• Consider swivel chairs for flexibility in seating arrangements.

Bedroom

• Offer high-quality bedding with multiple layers for different preferences. Store extra bedding layers in the closet for easy access.
• Provide two sleeping pillows per guest with different fill options (e.g., foam-filled, down alternative).
• Ensure each bed has its own bedside table and lamp, preferably with USB ports or wireless charging features.
• Install blackout shades to cater to various sleep preferences.

Amenities and Features

• Include amenities that enhance relaxation and enjoyment, such as hot tubs, which are highly sought after in Jackson and likely in Cody as well.
• Ensure adequate space for groups or families, with multiple bedrooms and large common areas.
• Provide stunning views of the surrounding mountains if possible, or easy access to outdoor activities.
• Add a full kitchen with modern appliances and necessary utensils for meal preparation.

Decor and Style

• Adopt a rustic and luxurious mountain lifestyle aesthetic using natural materials like log furniture and modern rustic design.
• Incorporate elements that reflect the local vibe, such as mountain-inspired decor and cozy textiles.
• Use floor-to-ceiling windows to maximize the breathtaking views of the mountains and surrounding wildlife.

Outdoor Space

• Create an inviting outdoor area with a patio, grill, and patio set.
• Ensure the outdoor space is well-maintained and offers opportunities for relaxation and enjoyment, such as stargazing or wildlife viewing.

Local Touches

• Add local touches such as locally roasted coffee and tea, and information about nearby attractions and events.
• Provide guides or recommendations for local activities, festivals, and cultural experiences to enhance the guest's stay.

Discovering Cody, Wyoming: Local Attractions and Insider Tips

Local Attractions

Cultural and Historical Sites

• Buffalo Bill Center of the West: A five-museum complex that is often referred to as the "Smithsonian of the West." Allow at least two days to explore its vast exhibits.
• Old Trail Town: A historic village featuring original buildings from Wyoming’s frontier days, including cabins, saloons, and hideouts once visited by figures like Butch Cassidy and the Sundance Kid.
• The Irma Hotel: Founded by Buffalo Bill Cody in 1902, this historic hotel is a must-visit for its rich history and charm.

Outdoor Adventures

• Yellowstone National Park: Cody is a gateway to the park via the east entrance. Take guided tours or explore on your own, enjoying scenic drives like the Beartooth Highway and wildlife viewing.
• Buffalo Bill State Park: Offers camping, fishing, and outdoor activities at Buffalo Bill Reservoir. Enjoy trout fishing and boating in the North and South Fork Rivers.
• Sleeping Giant Zipline: Experience the thrill of a 3,500-foot zipline near the east entrance to Yellowstone.

Rodeos and Western Entertainment

• Cody Nite Rodeo: Witness bronc riding, barrel racing, and other rodeo events every night from June to August. Don’t miss the Cody Stampede PRCA Rodeo in July.
• Cody Cowboy Village and Dan Miller’s Cowboy Music Venue: Enjoy luxury log cabin lodging and family-friendly music shows.

Other Attractions

• Cody Trolley Tours: A family-owned business offering a charming way to explore Cody’s history and modern attractions. Tours run multiple times a day, so book in advance.
• Buffalo Bill Dam & Visitor Center: An engineering marvel and National Landmark offering stunning views of the Shoshone River.
• Cody Dug Up Gun Museum: Explore the evolution of firearms from the War of Independence to the 1920s.

Insider Tips

Best Time to Visit

• The best time to visit Cody is during the warmest part of the summer to make the most of outdoor activities.

Getting Around

• Use the Cody Trolley Tours for a convenient and informative way to see the town’s main attractions.
• Consider booking guided tours for Yellowstone National Park and other outdoor adventures to make the most of your time.

Dining and Nightlife

• The Proprietress: Enjoy fine cocktails and upscale nightlife in Cody.
• Siti’s Table: A fine food market perfect for picking up something special or dining in.
• Juniper Bar and Market Bistro, Brewgards BBQ, and Cassie’s Supper Club: These restaurants offer a range of dining experiences from seasonal dishes to classic Wyoming supper club fare.

Family-Friendly Activities

• The Buffalo Bill Center of the West is highly family-friendly, with five museums and plenty of wild lands to explore.
• The Cody Nite Rodeo includes activities like the calf scramble that kids can participate in.

By sharing these attractions and tips with your guests, you can help them make the most of their visit to Cody, Wyoming, and ensure a memorable experience.

Practical Tips to Run a Successful Short-Term Rental Business in Cody, Wyoming

To ensure a smooth and enjoyable experience for both you and your guests, here are some practical tips for running a successful short-term rental business in Cody, Wyoming:

Noise Regulations and Guest Communication

Inform your guests about quiet hours and noise regulations to maintain a respectful environment for neighbors. Include this information in your digital and physical house manual to set clear expectations.

Comprehensive House Manual

Create a detailed digital and physical house manual that includes essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact numbers. This manual will help guests navigate the property easily and reduce the need for frequent inquiries.

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 of the entrance and any specific steps they need to follow.

Parking Instructions

Include detailed parking instructions with photos in your house manual to help guests find and use the designated parking areas. This will prevent confusion and potential issues with neighbors or local authorities.

By implementing these strategies, you can enhance the guest experience, reduce potential issues, and maintain a positive reputation for your short-term rental business in Cody, Wyoming.

Here is a brief list of house cleaning, repair, or maintenance providers in Cody, Wyoming:

House Cleaning Services

• Affordable House Cleaning Options: Multiple services listed, starting at $11.50/hr, with options to search by rates, reviews, and experience.
• Angie's List House Cleaners: A list of top-rated house cleaners in Cody, WY, with real reviews and ratings.
• Youngs Cleaning Services: A professional cleaning company offering services for residential and commercial clients.
• Bark Cleaning Services: Matches clients with professional housekeepers in Cody, with options to view past reviews and get free quotes.

General Maintenance and Cleaning Through Retail

• Walmart House Cleaning Services: Offers cleaning services for various parts of the home, with the option to call or visit in person.

Note that the list does not include specific repair services, as the sources primarily focus on cleaning services.

Managing Short-Term Rentals in Cody, Wyoming: Understanding Management Fees

In Cody, Wyoming, the management of short-term rentals can incur fees that typically range 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. In contrast, basic services that may only include listing management or minimal support can be less expensive. Additionally, hosts may incur extra fees for specific services like cleaning, repairs, or design enhancements, which can further impact the overall cost of managing their short-term rental properties.