Airbnb & VRBO Performance in Galena Illinois.

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Galena, Illinois: Airbnb & VRBO Vacation Rental Market Overview

Galena, Illinois, is experiencing robust short-term rental performance, with an average 43% occupancy rate, a $348 daily rate, and $37,380 in monthly revenue, along with a 3% increase in total listings and an 8% growth in active listings over the past year.

Market overview

Thriving Short-Term Rental Market in Galena, Illinois

The short-term rental market in Galena, Illinois, is experiencing a robust performance, making it an attractive destination for both investors and travelers. As of the latest data, short-term rentals in Galena boast an impressive average occupancy rate of 43%, indicating a strong demand for these properties. Additionally, the average daily rate for these rentals stands at $348, contributing to a significant monthly revenue of $37,380. This combination of high occupancy and lucrative daily rates underscores the viability and profitability of investing in short-term rentals in Galena, making it a compelling option for those looking to capitalize on the local tourism market.

Short Term Regulations

Short-Term Rental Regulations in Galena, Illinois for 2024

Licensing and Permits

  • Vacation Rentals are only permitted with an approved special use permit and operating license. Currently, all available licenses have been fulfilled, and there is a substantial waitlist.
  • Transient rental property owners must apply for and receive a Guest Accommodations License from Jo Daviess County.

Inspection Requirements

  • Rental properties must maintain a valid Rental Certificate of Inspection, with inspections conducted every three years by the City of Galena Building Department, the Jo Daviess County Housing Authority, and the Galena Fire Department.
  • Annual inspections are required for transient rental properties to ensure compliance with life-safety standards, including hard-wired smoke detectors, carbon monoxide detectors, GFI protection, and adequate handrails and balusters.

Safety Standards

  • Properties must adhere to fire safety codes and maintain minimum standards for basic equipment and facilities, including light, ventilation, heating, and safe and sanitary maintenance of dwellings.

Taxation

  • Hosts must collect the state's hotel tax from guests.

Zoning Regulations

  • Vacation Rentals are subject to detailed land use regulations, both as principal commercial land use and as accessory residential land use.

Compliance and Penalties

  • Failure to obtain a certificate of inspection for a rental property can result in legal action with a fine of up to $750 per violation, per day.
  • Compliance with all regulations is mandatory; non-compliance can lead to penalties and potential license revocation.

Occupancy Limits

  • Homes with seven or more bedrooms are limited to a sixteen-person overnight occupancy. Homes with fewer than seven bedrooms are allowed two people per bedroom, plus an additional two people per building.

Renewal and Transfer

  • Guest Accommodations Licenses must be renewed every year by December 31st. The license stays with the property and transfers if the house is sold, but the new owner must notify the county and pay the renewal fee.
Neighborhood Performance

High-Revenue Airbnb Neighborhoods in Galena, Illinois

Top Neighborhoods and Their Appeal

Historic Main Street

  • Appeal: Located in the heart of Galena, Historic Main Street offers easy access to popular restaurants, shops, and historic sites. Guests can walk to many attractions, enhancing their overall experience.
  • Revenue Potential: High foot traffic and central location make properties here highly desirable, contributing to higher revenue.

Ulysses S. Grant Home State Historic Site

  • Appeal: This area is rich in history and attracts guests interested in historical sites. The proximity to the Ulysses S. Grant Home makes it a unique and educational experience.
  • Revenue Potential: Historical significance and tourist interest drive up demand and revenue for Airbnb listings in this area.

Galena Cellars Vineyard & Winery

  • Appeal: Guests are drawn to the scenic views and the opportunity to visit a local vineyard and winery. This area is ideal for those looking for a relaxing, wine-country experience.
  • Revenue Potential: The winery and surrounding scenic areas make this a popular spot, especially for couples and those seeking a tranquil getaway.

Chestnut Mountain Resort

  • Appeal: This resort area offers a range of activities including skiing, hiking, and scenic views. It is a favorite among outdoor enthusiasts and families.
  • Revenue Potential: The variety of recreational activities and the resort's amenities make it a high-demand area, leading to significant revenue for Airbnb hosts.

Grant Park

  • Appeal: Grant Park provides a peaceful and scenic environment with easy access to downtown Galena. It is appealing for guests looking for a balance between nature and urban amenities.
  • Revenue Potential: The park's location and amenities make it an attractive spot for guests, resulting in higher occupancy rates and revenue.

Blackjack's Garden and Dowling House

  • Appeal: These areas offer a mix of historical charm and natural beauty. Guests can enjoy gardens and historic homes, making for a unique and memorable stay.
  • Revenue Potential: The unique blend of history and natural attractions in these areas attracts a diverse range of guests, contributing to higher revenue.

Additional Considerations

  • Seasonality: Peak season for Airbnb stays in Galena is from May to October, with a slight decrease in demand during the cooler months. This seasonality affects revenue and occupancy rates.
  • Amenities: Properties with well-appointed kitchens, comfortable bedrooms, and access to outdoor spaces such as patios or balconies are highly sought after by guests.

By focusing on these neighborhoods and ensuring properties are equipped with desirable amenities, hosts can maximize their revenue potential in Galena, Illinois.

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Design Tips

Creating an Inviting Airbnb in Galena, Illinois: Design and Furnishing Tips

Reflect the Historic Charm

  • Incorporate elements of Galena's rich history into your design. Use historical building materials, such as original brick and hardwood floors, to maintain the city's nostalgic feel.

Emphasize Comfort and Cozy Ambiance

  • Include comfortable furnishings like oversized couches and wood-burning fireplaces to create a cozy atmosphere. Electric fireplaces can also be a convenient alternative.
  • Add plush throw blankets, soft linens, and well-stocked kitchens to ensure guests feel at home.

Highlight Local Aesthetics

  • Choose decor that reflects Galena's rustic yet upscale vibe. Consider using natural materials and earthy colors to blend with the surrounding landscape.

Utilize Outdoor Spaces

  • Ensure that outdoor spaces are well-appointed with features like gas grills, fire pits, and outdoor seating areas. These amenities enhance the guest experience and take advantage of Galena's natural beauty.

Modern Amenities with a Touch of Rustic Charm

  • Balance modern amenities such as smart TVs, high-speed internet, and fully equipped kitchens with rustic elements like log cabins and stone fireplaces.

Access to Local Amenities

  • Provide access to local amenities such as the Galena Territory Owner’s Club, which offers swimming pools, fitness centers, and other recreational activities. This can be a significant selling point for guests.

Personal Touches

  • Add personal touches like local artwork, E&O soaps, and other boutique items to make the space feel unique and welcoming.

Seasonal Considerations

  • Design the space to be appealing in all seasons. For example, include hot tubs for winter relaxation and screened-in porches for summer enjoyment.

Cleanliness and Maintenance

  • Ensure the property is meticulously clean and well-maintained. This includes providing essentials like towels, linens, toilet paper, and paper towels.

Guest-Friendly Layouts

  • Opt for layouts that cater to different types of guests, such as families or couples. Include features like game rooms, movie rooms, and multiple bedrooms and bathrooms to accommodate various needs.
Insider Tips

Discovering Galena, Illinois: Local Attractions and Insider Tips for Your Guests

Historic Sites and Museums

  • Ulysses S. Grant Home: Tour the home of the 18th U.S. President, featuring many original artifacts.
  • Galena & U.S. Grant Museum: Learn about Galena’s history during the 19th Century and the Industrial Era.
  • Apple River Fort State Historic Site: Explore what life was like for Jo Daviess County settlers in 1832.
  • Belvedere Mansion: Stroll through the gardens and mansion considered the finest in Galena.
  • Old Market House State Historic Site: Browse Grant’s artifacts from Galena’s Golden Era.

Outdoor Adventures

  • Apple River Canyon State Park: Spend a day fishing, hiking, or swimming in this scenic park.
  • Thunder Bay Falls: Hike to a breathtaking waterfall.
  • Galena River Trail: Enjoy hiking or biking along the meandering Galena River, passing historic sites and beautiful wooded areas.
  • Casper Bluff: Go birdwatching and enjoy the natural beauty of this area.
  • Chestnut Mountain Resort: For winter activities, hit the slopes at this ski resort, or enjoy golf and other activities in warmer seasons.

Shopping and Dining

  • Historic Main Street: Explore over 125 unique shops, art galleries, and eclectic boutiques in beautifully restored 19th-century buildings.
  • Earth’s Treasures: Browse handcrafted jewelry and collectibles.
  • Gabby’s Gifts: Find unique gifts and collectibles.
  • Galena Garlic Company: Pick up gourmet food items.
  • Gateway to History: Get a unique Galena souvenir.
  • Poopsie’s: Shop for toys, games, and books.
  • Grateful Gourmet: Find local items for your kitchen.
  • Local Restaurants: Enjoy dinner at places like Fried Green Tomatoes or order takeout from Cannova’s Pizza and Procentos Pizzeria.

Arts and Culture

  • Art Galleries & Studios: Visit galleries like Hello Galena or Pinder Pottery to see local art, pottery demonstrations, and handmade items.
  • Galena Culinary Institute: Participate in cooking classes and creative recipes.
  • Blaum Bros. Distilling Co.: Tour this family-owned craft distillery and taste local spirits.

Entertainment and Nightlife

  • Hot Air Balloon Rides: Soar the skies for a panoramic view of Galena.
  • Trolley Tours: Take a guided tour around town to explore historic sites and hidden treasures.
  • Diamond Jo Casino: Enjoy slot machines, table games, bowling, and live performances.
  • Live Music: Experience various genres of music at different venues throughout Galena Country.

Insider Tips

  • Seasonal Activities: Enjoy snowshoeing at Casper Bluff in winter or watch the Great Galena Balloon Race in summer.
  • Local Events: Check out events like Christmas in the Village of Elizabeth and Cruisin' Thursdays in East Dubuque.
  • Spas and Wellness: Relax with calming aromatherapy treatments, hot-stone massages, and deluxe body treatments at one of the many spas.
  • Day Trips: Consider visiting nearby villages like Elizabeth and East Dubuque for additional sights and experiences.

By sharing these attractions and insider tips, you can help your guests make the most of their visit to Galena, Illinois, and create unforgettable memories.

Practical Tips

Practical Tips to Run a Successful Short-Term Rental Business in Galena, Illinois

To ensure a smooth and profitable short-term rental business in Galena, Illinois, several practical tips can be implemented to enhance guest satisfaction and compliance with local regulations.

Noise Regulations and Quiet Hours

Inform your guests about quiet hours to maintain a peaceful environment, especially in residential areas. Include clear guidelines on noise levels in your digital and physical house manual to avoid any potential issues with neighbors.

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 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 a unique access code and detailed instructions on how to enter the property. This not only enhances convenience but also reduces the likelihood of lost keys.

Parking Instructions with Photos

Include clear parking instructions in your house manual, accompanied by photos to help guests identify the designated parking areas. This can prevent confusion and potential parking violations, ensuring a hassle-free stay for your guests.

By implementing these tips, you can create a well-organized and guest-friendly environment, which is crucial for maintaining high occupancy rates and positive reviews in the competitive short-term rental market of Galena, Illinois.

Local Vendors

Here is a brief list of house cleaning providers in Galena, Illinois:

House Cleaning Providers in Galena, IL

Sparkling and Beyond

  • A professional cleaning company based in Galena, IL, offering services such as standard cleaning, deep cleaning, carpet cleaning, and office cleaning.

Angi Listed House Cleaners

  • A list of top-rated house cleaners in Galena, IL, with services varying by provider and costs ranging between $30 and $50 per hour.

Walmart House Cleaning Services

  • Offers house cleaning services for bathrooms, kitchens, bedrooms, and more, available through Store 5044 in Galena, IL.

Care.com Housekeeping

  • Provides a list of affordable housekeeping options in Galena, IL, with details on rates, reviews, and experience.
Management fees

Galena, Illinois: Understanding Short-Term Rental Management Fees

In Galena, Illinois, 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, which handle comprehensive tasks such as guest communication, marketing, and maintenance, tend to charge fees on the higher end of this spectrum, often around 20% to 25% of the rental income.

In contrast, basic services may incur lower fees, but additional costs for cleaning, repairs, or design services can also apply. For instance, some management companies may charge a separate cleaning fee, which they pass on to the guests, while others might include it in their overall management fee.

Understanding these fee structures is crucial for property owners to maximize their revenue and ensure their properties are well-maintained and attractively presented to potential guests.

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Why choose RedAwning

RedAwning is a tech leader in full-service short-term rental management, powered by our exclusive, unmatched tools.
Other property managers
Cost
Starting at 10%
25-40%
Guest communications
5-15 mins / 24 hours a day
1 hour+
Host communications
Dedicated phone and text line with no time on hold
Chat bots, hold lines and email threads
Insurance
Robust liability and dwelling coverage for every reservation
Spotty coverage with low claim approval rates
Contract
No cancellation fees
No contract lock-in
Just 90 days notice to cancel
Cancellation penalties
Number of Channels Your Listing is On
50+
2-4

Experience in numbers

Rest well knowing your property is managed by an experienced team powered by world-class technology.
+10-30%
in gross revenue
4.8 stars
guest rating
14+ years
managing STRs

Short Term Rental Calculator

Find out how much your property in Galena should generate as a short term rental and look at the performance of properties around yours.

35,000+ Properties
Hosts stay with RedAwning
1,000,000,00 Nights Booked
RedAwing knows how to get bookings
50+ Top Booking Channels
More than any other platform available

Furnishing checklist

This comprehensive checklist ensures that your rental is guest-ready with all the essentials to create a comfortable and memorable experience in Galena.

Living Room
Seating: Sofa, armchairs, and ottomans
Coffee Table
Entertainment: Smart TV (with streaming apps) and remote control
Decor: Area rug, wall art, plants, and throw pillows
Lighting: Floor lamp or table lamps
Charging Stations: Power strips or outlets with USB ports
Bedrooms
Beds: High-quality mattress with mattress protector
Linens: At least two sets of sheets per bed
Pillows: Hypoallergenic pillows (2-4 per bed)
Blankets: Extra throw blankets or quilts
Nightstands: With lamps or charging docks
Closet or Storage: Hangers, dresser, or luggage rack
Blackout Curtains or Shades
Bathrooms
Towels: Bath towels, hand towels, washcloths (2 sets per guest)
Shower Curtain & Liner
Toiletries: Shampoo, conditioner, body wash, hand soap
Bathroom Essentials: Toilet paper, tissues, trash bin
Hairdryer
Mirror: Full-length or wall mirror
Dining Area
Dining Table: Seating for the maximum number of guests
Place Settings: Placemats or tablecloths
Centerpiece: Vase with flowers or decorative piece
Kitchen
Appliances: Refrigerator, microwave, toaster, coffee maker, kettle
Cookware: Pots, pans, baking trays
Utensils: Forks, knives, spoons, spatulas, tongs
Dinnerware: Plates, bowls, glasses, mugs (2 sets per guest)
Cutting Board & Knives
Basic Spices & Condiments: Salt, pepper, oil
Cleaning Supplies: Sponge, dish soap, paper towels, trash bags
Outdoor Space (if applicable)
Seating: Outdoor chairs, benches, or lounges
Table: For outdoor dining or drinks
Lighting: String lights or outdoor lanterns
Grill: With necessary utensils and instructions
Outdoor Trash Bin
Extras to Elevate Guest Experience
Welcome Basket: Snacks, water bottles, or wine
Guidebook: Local recommendations and house rules
Board Games or Books: Entertainment for guests
Umbrella & Flashlight
Iron & Ironing Board
Laundry: Washer, dryer, and detergent (if available)
Unlock your home’s potential
Schedule a call to learn more about Awning’s Short Term Rental Property Management Service.
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⇤ Airbnb Statistics for Illinois