Fayetteville, North Carolina, is experiencing robust short-term rental performance, with a 62% occupancy rate, an average daily rate of $89, and annual revenues of $21,681, making it a promising market for Airbnb hosts and investors.
Thriving Short-Term Rental Market in Fayetteville, North Carolina
Fayetteville, North Carolina, is experiencing a robust and vibrant short-term rental market, driven by its unique blend of military, educational, and tourist attractions. The city boasts an impressive 62% occupancy rate for Airbnb rentals, indicating a high demand for short-term accommodations.
The average daily rate for these rentals stands at $89, contributing to an annual revenue of $21,681 per listing. This strong performance is further bolstered by the city's strategic location, rich military history, and popular events like the Dogwood Festival and Fourth Friday events, which attract a steady stream of visitors throughout the year.
With a growing market and relatively low supply of rentals, Fayetteville presents significant opportunities for growth and investment in the short-term rental sector.
Short-Term Rental Regulations in Fayetteville, North Carolina for 2024
Current Regulatory Environment
As of 2024, Fayetteville, North Carolina does not have specific regulations in its city code for short-term rentals (STRs) like Airbnb and VRBO. However, there are ongoing discussions and potential changes on the horizon.
Proposed and Potential Regulations
Licensing and Fees
- The city may implement a short-term rental licensing and fee structure in the future.
- This could include submitting an application with property owner information, floor plans, and parking details.
- An annual licensing fee may be required.
- Passing a building safety inspection and providing proof of insurance could be mandatory.
Occupancy Limits
- A proposed regulation suggests an occupancy maximum of two people per bedroom plus two more. For example, a three-bedroom house could have up to eight occupants.
Operational Standards
- Potential regulations may include agreeing to occupancy limits, parking rules, and other operational standards.
- Notifying neighbors within a certain radius may be required.
Compliance with State Laws
- STRs must comply with the statewide fire code and have working smoke alarms.
Existing Requirements
General Rental Regulations
- STRs are currently treated the same as long-term rentals under Fayetteville's existing rental housing regulations.
- Documentation requirements include a lease agreement, proof of ownership, a standard business license, insurance, and tax registration.
State-Level Rules
- No limits on the number of STRs an individual can operate.
- No restrictions on renting out an entire home vs a single room.
- STRs can be located in any zoning district that allows residential use.
- No registration or permitting requirements at the state level.
Future Regulatory Considerations
Permitting Process
- If implemented, the permitting process may involve obtaining a permit from the city, with the possibility of revoking the permit for health and safety violations.
Local Zoning and Compliance
- Regulations may restrict the location of STRs to areas zoned for residential use and require compliance with all applicable residential zoning requirements.
- STRs must comply with all applicable city ordinances and codes, including building and housing codes.
Additional Requirements
- Contracts for STRs may need to include a copy of city ordinances regulating noise, waste removal, and parking.
- A lodging operator or authorized agent may need to be within a 50-mile radius of the STR when an occupant is staying there.
Top Airbnb Revenue-Generating Neighborhoods in Fayetteville, North Carolina
1. Historic Haymount
- Appeal: This neighborhood is highly praised for its central location, historic charm, and proximity to downtown Fayetteville, Fort Liberty (formerly Fort Bragg), and popular attractions like the 82nd Airborne Museum. Guests appreciate the mid-century modern designs, private entrances, and amenities such as hotel-style kitchenettes, shared fire pits, and easy access to local bars and restaurants.
2. Downtown Fayetteville
- Appeal: The vibrant energy of downtown Fayetteville makes it a favorite among guests. Rentals here offer walking distance to Hay Street, numerous restaurants, breweries, and engaging downtown activities. The historic context and modern amenities like private patios, BBQ grills, and high-speed internet enhance the appeal.
3. Haymount Hill
- Appeal: Located in the heart of Fayetteville, Haymount Hill offers a mix of historic and modern accommodations. Guests enjoy the studio apartments and lofts with private entrances, shared backyards, and fire pits. The neighborhood's proximity to restaurants, shopping, and taprooms adds to its attractiveness.
4. Near Fort Liberty (formerly Fort Bragg)
- Appeal: Rentals in this area are popular due to their convenience for military personnel and families. These properties often feature fully equipped kitchens, private master bathrooms, and outdoor spaces like decks and fire pits. The proximity to Fort Liberty and other military facilities makes them highly sought after.
5. Bragg Boulevard and Surrounding Areas
- Appeal: This area is appealing for its balance of comfort and convenience. Rentals here include spacious townhouses and houses with amenities like Jacuzzis, BBQ grills, and free Wi-Fi. The neighborhood is close to major highways, shopping centers, and recreational facilities, making it ideal for both short and long-term stays.
These neighborhoods are favored by guests due to their excellent locations, cleanliness, and the variety of amenities they offer, ensuring a comfortable and enjoyable stay in Fayetteville.
Furnishing and Design Tips for an Inviting Airbnb in Fayetteville, North Carolina
Understand Your Audience and Location
- Fayetteville attracts a diverse range of guests, including families, students, and travelers. Tailor your furnishings to cater to these different demographics.
Choose Functional and Comfortable Furniture
- Opt for high-quality, durable furniture that is easy to clean and maintain. Consider pieces like solid beds with storage, memory foam mattresses, and sofas that can withstand heavy use.
Incorporate Local and Modern Aesthetics
- Fayetteville's style often blends modern comfort with local charm. Use contemporary decor, natural materials like wood and stone, and incorporate local artwork or accents to give your space a unique character.
Ensure Accessibility and Inclusivity
- Make your Airbnb accessible to guests with disabilities by including features like ramps, wide doorways, and grab bars in bathrooms. This can significantly enhance the guest experience.
Utilize Smart Storage Solutions
- Use space-saving furniture such as beds with drawers, wall hooks, pegboards in the kitchen, and stackable containers to keep the space tidy and functional.
Enhance Outdoor Spaces
- Many guests in Fayetteville appreciate outdoor amenities. Consider adding BBQ areas, hot tubs, fire pits, and well-landscaped yards to enhance the guest experience.
Focus on Guest Convenience
- Provide amenities like well-equipped kitchens, high-speed Wi-Fi, and convenient parking. These features can significantly elevate the guest experience and lead to higher ratings.
Use Mirrors and Lighting to Create a Spacious Feel
- Use mirrors strategically to make your Airbnb feel bigger and brighter. Ensure there is ample natural light and consider adding additional lighting to create a welcoming atmosphere.
Add Unique Touches and Amenities
- Include unique elements such as game rooms, gyms, and outdoor bars to make your property stand out. These extras can attract more guests and lead to repeat bookings.
Maintain a Clean and Consistent Look
- Choose white or neutral-colored linens and towels for a consistent and hotel-like feel. Ensure all furniture and decor are easy to clean and maintain to keep your space in top condition.
Timing of Updates
- Plan furniture updates during the off-season or short gaps between bookings to minimize disruption and ensure your space remains in top shape for guests.
Local Attractions and Insider Tips for Fayetteville, North Carolina
Must-Visit Attractions
Airborne & Special Operations Museum
- Part of the United States Army Museum System, located in historic downtown Fayetteville.
- Offers a self-guided tour through the history of airborne and special operations soldiers from 1940 to the present.
Cape Fear Botanical Garden
- A nonprofit botanical garden on 80 acres beside the Cape Fear River, just two miles from downtown Fayetteville.
- Features a variety of plant species and scenic views.
North Carolina Veterans Park
- The first state park dedicated to military veterans from all branches of the Armed Services.
- Includes a fused glass service ribbon wall, an interactive globe, and a story garden with personal accounts from veterans.
SEGRA Stadium
- Home to the Fayetteville Woodpeckers baseball team and host to various events like concerts, weddings, and retirement ceremonies.
- Recognized as Ballpark of the Decade by Ballpark Digest.
Crown Complex
- A state-of-the-art, five-venue complex including a 4,500-seat arena, a 9,200-square foot ballroom, and more.
- Hosts sporting events, family shows, concerts, and special productions year-round.
Other Notable Attractions
1897 Poe House
- A historic house museum offering insights into the life and times of the late 19th and early 20th centuries.
Carver Creek State Park
- A park offering outdoor activities such as hiking, camping, and nature observation.
Fayetteville Regional Theater
- A venue for various theatrical performances and community events.
K River Trail
- A scenic trail along the Cape Fear River, ideal for walking, jogging, or biking.
Insider Tips
Local Events
- Check the local event calendar for festivals, holiday happenings, and other community events that might interest your guests.
Dining and Shopping
- Recommend international dining options and chic boutiques available in the area for a diverse experience.
Outdoor Activities
- Suggest visiting the Cape Fear Botanical Garden or Carver Creek State Park for those who enjoy nature and outdoor activities.
Military Heritage
- For history buffs, highlight the rich military heritage of Fayetteville, including the Airborne & Special Operations Museum and North Carolina Veterans Park.
Indoor Activities
- For rainy days or indoor enthusiasts, recommend the Crown Complex for various indoor events and the Fayetteville Regional Theater for performances.
By providing these recommendations, you can help your guests make the most of their visit to Fayetteville, North Carolina.
Practical Tips to Run a Successful Short Term Rental Business in Fayetteville, North Carolina
To ensure a smooth and successful short-term rental business in Fayetteville, North Carolina, several practical tips can be implemented. Here are some key considerations:
Noise Regulations and Quiet Hours
Inform your guests about quiet hours to maintain a respectful environment for neighbors. Include clear guidelines on noise levels in your house manual and listing description to set expectations from the outset.
Creating a Comprehensive House Manual
Develop 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 cover 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, along with photos of the lock and any other relevant entry points.
Parking Instructions
Include detailed parking instructions with photos in your house manual and listing. This helps guests understand where they can park and how to access the property, reducing potential confusion and issues.
By implementing these strategies, you can enhance the guest experience, reduce potential conflicts, and maintain a positive reputation for your short-term rental business in Fayetteville.
Here is a brief list of house cleaning, repair, and maintenance providers in Fayetteville, North Carolina:
House Cleaning Services
- Merry Maids of Fayetteville: Offers comprehensive home cleaning services with 40 years of experience and advanced techniques.
- Molly Maid of Fayetteville & Fort Liberty: Provides professional and thorough house cleaning services with experienced and trained professionals.
- Precision Clean: A veteran-owned service offering residential and commercial cleaning, with certified professionals and a focus on environmental soundness.
General Home Services (Including Cleaning)
- Various Providers through HomeAdvisor: Includes multiple local pros offering cleaning, organization, and other home improvement services. Companies like J Will Cleaning Service, Express Home & Upholstery Cleaner, and others are listed.
Individual Housekeepers
- Housekeepers listed on Care.com: Over 150 housekeepers are available in Fayetteville, with an average rate of $15/hr and an average of 3 years of experience.
Short-Term Rental Management Fees in Fayetteville, North Carolina
In Fayetteville, North Carolina, the management fees for short-term rentals can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes comprehensive services such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often starting at around 20% of the revenue.
Basic services, such as tenant placement or minimal property oversight, may incur lower fees, often around 10% of the monthly rent. Additionally, hosts may need to account for extra fees for services like cleaning, repairs, or property design and preparation. These additional costs can vary among different property management companies, with some charging flat fees for certain services while others include them in the overall management fee.