In Greenville, South Carolina, short-term rentals are performing robustly, with a high occupancy rate of 68%, a daily rate of $161, and an annual gross revenue of $30,757, indicating a strong and lucrative market for hosts and investors.
Thriving Short-Term Rental Market in Greenville, South Carolina
Greenville, South Carolina, is experiencing a robust short-term rental market, despite some national trends indicating a decline in vacation rental performance. Locally, short-term rentals, or "visitor accommodations," are performing well, with an impressive occupancy rate of 68% according to recent data.
The average daily rate for these rentals stands at $161, and the gross revenue for short-term rental properties in Greenville averages $30,757 annually. This strong performance is a testament to the city's appeal to visitors and the economic benefits that short-term rentals bring to the local community. With clear regulations in place, including the requirement for a business license and a local accommodations tax, Greenville continues to be an attractive destination for both hosts and guests, contributing to the city's vibrant tourism economy.
Short-Term Rental Regulations in Greenville, South Carolina for 2024
Zoning Restrictions
- New short-term rentals are limited to mixed-use and commercial zones (MX-2, MX-3, MX-5, MX-D, MXS-2, MXS-3, MXS-5, MXS-D, BG, BH, IX, CM).
- Short-term rentals for less than 30 days are not permitted in residential zoning districts (RH-A, RH-B, RH-C, RH-D, RN-A, RN-B, RNX-B, RN-C, RNX-C, RC-2, RC-3, RC-5, IG, CV, PK).
Licensing and Permits
- Property owners must obtain a short-term rental permit from the City of Greenville, which costs $40.00.
- A business license from the city is also required.
Required Documents
- Completed Short-Term Rental Application Form
- Proof of property ownership or a signed lease agreement
- Detailed floor plan of the rental property
- Parking plan showing designated guest parking spaces
- Proof of liability insurance coverage for the rental property
- Signed Affidavit of Compliance.
Taxation
- Owners must pay a local accommodations tax of 3% on short-term rentals.
Operational Requirements
- Short-term rental properties must be registered and comply with city codes to ensure good neighborly relations.
- Owners must keep records demonstrating compliance with city provisions for two years, including the name and phone number of all guests.
- Safety inspections must be allowed with a 24-hour notice.
- An emergency contact must be available to take phone calls at all times.
Guest and Property Management
- Rentals must not be available for occupancy for less than one night.
- Maximum overnight occupancy is two persons per bedroom plus two additional persons, excluding minor children.
- A house manual must be provided to each guest, including emergency contact numbers, owner's or responsible local representative's name and contact information, and house rules.
- Two parking spaces must be provided.
Community Notifications
- Adjacent households and neighborhood associations must be notified that the property is being operated as a short-term rental.
Compliance and Enforcement
- Greenville County strictly enforces short-term rental rules, with penalties for non-compliant operators, including fines and court action.
- The city may revisit and update short-term rental regulations based on community feedback.
Top Neighborhoods Generating Airbnb Revenue in Greenville, South Carolina
1. Downtown Greenville
- Appeal: Downtown Greenville is a hub of activity, with guests drawn to its vibrant atmosphere, proximity to key attractions like Falls Park, the Peace Center, and the Swamp Rabbit Trail. Properties such as the "Chic Downtown Oasis" and "Luxury Fully-Remodeled Apartment Downtown GVL" offer luxurious amenities and walking distance to restaurants, shops, and entertainment.
2. North Main Street Area
- Appeal: This area is highly sought after due to its close proximity to Main Street, Falls Park, and the Swamp Rabbit Trail. Guests appreciate the historic charm, as seen in rentals like the "Stylish 1 BDRM just off Main St with King Bed" and "Cozy Downtown GVL Studio", which offer easy access to dining, shopping, and local attractions.
3. Historic West End
- Appeal: Located near North Street, this neighborhood offers a blend of historic charm and modern amenities. Rentals such as the "Industrial Downtown Greenville apartment" are popular for their stylish decor, fully equipped kitchens, and proximity to attractions like Fluor Field and Cleveland Park.
4. Greater Overbrook Neighborhood
- Appeal: This neighborhood is appealing due to its convenient location, just 1.5 miles from downtown Greenville. Properties like "Grateful GVL Gathering" offer newly renovated homes with all necessary amenities, making it ideal for travelers who want to explore the city and its surroundings.
5. North Greenville (Near Furman University)
- Appeal: This area is attractive for its quiet residential setting while still being close to Furman University and downtown Greenville. Rentals such as "The Bike Barn" and "Stylish next to Furman in North Greenville" offer private spaces, dog-friendly yards, and easy access to local attractions.
6. West End Arts District
- Appeal: Guests are drawn to this area for its artistic vibe and proximity to downtown. Properties like the "Burrow Boutique studio" offer romantic getaways with unique features such as outdoor bars and fire pits, all within a mile of South Main Street and the West End Arts District.
These neighborhoods are highly appealing due to their combination of historic charm, modern amenities, and convenient access to Greenville's top attractions, making them prime locations for generating significant Airbnb revenue.
Tips for Furnishing and Designing an Inviting Airbnb in Greenville, South Carolina
Planning and Budgeting
- Set a realistic budget: Furnishing a 4-bedroom, 2-bathroom property can cost between $12,000 to $14,000, but this can vary based on the property type and your personal style.
- Create a mood board: Plan the entire house design to ensure a cohesive look and feel.
Choosing Furniture
- Select 'anchor' pieces first: Focus on essential items like beds, sofas, tables, and chairs before adding decorative elements.
- Invest in quality over quantity: Spend more on statement pieces like couches, coffee tables, and dining room tables, as these define the space.
- Consider second-hand options: Shopping second-hand can help you find unique, high-quality items at a lower cost.
Local and Unique Touches
- Incorporate local style: For a city like Greenville, consider furnishings that reflect its unique architecture and cultural vibe, such as pieces that fit with the city's historic or modern aesthetic.
- Add antique or vintage items: Incorporate antique or vintage pieces to give your space a distinctive character.
Decor and Accessories
- Use rugs strategically: Rugs can either be the first piece to set the tone for the room or the last piece to tie everything together.
- Include plants and greenery: Adding plants can liven up the space and make it more inviting.
- Choose cohesive colors and decor: Select colors for pillows, rugs, bedspreads, and decor items that complement each other to avoid a boring room.
Practical Considerations
- Ensure functionality: Make sure the space is functional and comfortable for guests. This includes providing necessary supplies like linens, towels, and kitchenware.
- Consider guest amenities: Offer amenities like bikes, outdoor grills, and pet-friendly accommodations to enhance the guest experience.
Execution and Maintenance
- Plan for delivery and setup: Schedule deliveries and setup during your visit to the property, and have a local contact to handle any issues that arise.
- Hire help if needed: If you need assistance with moving and assembling furniture, consider hiring local help.
Compliance and Management
- Comply with local regulations: Ensure your Airbnb complies with Greenville's short-term rental regulations, including obtaining necessary permits and following zoning laws.
- Maintain the property: Regularly update and maintain the property to keep it ready for guests and maximize rental income.
Practical Tips to Run a Successful Short Term Rental Business in Greenville, South Carolina
To ensure the success and smooth operation of a short-term rental business in Greenville, South Carolina, several practical tips can be implemented:
Noise Regulations and Guest Communication
Inform your guests about the city's noise regulations and quiet hours to avoid any potential issues. Greenville has strict noise restrictions, so it is crucial to communicate these rules clearly in your listing and through a welcome message upon check-in.
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 be easily accessible to guests, either in the property or via a digital link provided before their arrival.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide detailed instructions on how to use the smart locks, along with photos and videos if necessary. Additionally, include clear parking instructions with photos to help guests navigate the property's parking area efficiently.
Compliance and Guest Satisfaction
Ensure compliance with local regulations, such as obtaining the necessary short-term rental permits and paying local taxes. Focus on maximizing guest satisfaction by offering personalized recommendations for local activities, dining, and entertainment, which can lead to high ratings and repeat bookings.
By implementing these strategies, you can enhance the guest experience, reduce potential issues, and maintain a successful and compliant short-term rental business in Greenville, South Carolina.
Here is a brief list of house cleaning providers in Greenville, South Carolina:
House Cleaning Providers in Greenville, SC
Greenville House Cleaning
- Locally owned and operated
- Fully formed LLC, bonded & insured
- 24 Hour Satisfaction Guarantee
- Criminal background checks on all cleaners
- Full-range of on-demand cleaning services, including move out cleaning, short term rental cleaning, and new baby homecoming cleaning.
MaidPro Greenville
- Professional residential house cleaning service
- 49-Point Checklist™ to ensure thorough cleaning
- Customizable cleaning services, including weekly, bi-weekly, and one-time cleans
- Specializes in kitchens, bathrooms, floors, and dusting
- No contracts required.
Two Maids
- Experienced house cleaners with thorough training, background checks, and fully bonded and insured
- Supplies all cleaning equipment and products
- Customizable services to meet specific needs
- Multi-award-winning company with over 15 years of experience.
Merry Maids
- 40 years of experience in home cleaning services
- Personalized cleaning solutions
- Dedicated to delivering a high level of cleanliness
- Free estimates available.
Care.com House Cleaning Services
- A platform listing various local house cleaning services
- Options starting at $17.80/hr
- Average experience of 3 years among listed services
- Rated 4.3 out of 5 stars based on 62 reviews.
Short-Term Rental Management Fees in Greenville, South Carolina
In Greenville, South Carolina, the fees for managing short-term rental properties, such as those listed on Airbnb or VRBO, can vary significantly based on the level of service provided. Typically, these fees range from 10% to 30% of the rental revenue. Full-service management companies, which handle comprehensive tasks including guest communication, marketing, pricing optimization, and maintenance, tend to charge on the higher end of this spectrum, often starting at around 12% to 15% of revenue.
Basic or half-service management, which may leave tasks like cleaning and guest communication to the property owner, can be more affordable, starting at around 8% to 10% of revenue. Additional fees may apply for specific services such as professional photography, interior design improvements, and repairs. These extra costs can add to the overall expense but are designed to enhance the property's appeal and rental income. Understanding the different service levels and associated fees is crucial for property owners to make informed decisions and maximize their rental income while minimizing their workload.