Despite a slight year-to-date decline in occupancy rates, the short-term rental market in Hurricane Mills, Tennessee, is showing promising signs of recovery and growth, particularly with strong summer performance and increasing demand.
Strong Recovery in Hurricane Mills, Tennessee Short-Term Rental Market
Despite some national trends indicating a slight decline in short-term rental performance, the outlook for Hurricane Mills, Tennessee, appears promising. While specific data for Hurricane Mills is not available, broader trends in the U.S. short-term rental market suggest a positive direction. Occupancy rates, although slightly lower than in 2023 due to increased supply and softening demand, are showing signs of recovery. For instance, national occupancy rates in October and November are pacing ahead of last year, indicating a potential return to pre-pandemic trends.
Average daily rates (ADR) have remained relatively stable, with a slight increase of a few dollars per night compared to last year. This stability, combined with the anticipated growth in occupancy during the late fall season, suggests that property owners in Hurricane Mills can look forward to a competitive and profitable remainder of 2024. By leveraging strategies such as dynamic pricing, high-quality listings, and enhanced amenities, property owners can capitalize on the improving demand and maintain strong occupancy rates.
Short-Term Rental Regulations in Hamilton County, Tennessee (including Hurricane Mills) for 2024
While the specific regulations for Hurricane Mills, which is in Humphreys County, are not provided in the sources, the general regulations for short-term rentals in Tennessee and specifically in counties like Hamilton County can be applied as a guideline. Here are the key regulations that would likely apply or be similar in other counties:
Statewide Regulations
- Definition: A short-term rental is a residential dwelling rented for less than 30 consecutive days.
- Liability Insurance: Maintain liability insurance of at least $500,000 unless provided by the marketplace.
- Safety Equipment: Install, maintain, and ensure the proper functioning of smoke alarms, carbon monoxide alarms, and fire sprinklers.
- Business License: Obtain a valid city and county business license.
- Tax Collection: Collect and remit state sales tax (7%) and local occupancy taxes (varies by county).
- Business Tax: Pay business taxes if annual revenue exceeds $10,000.
Local Regulations (Applicable to Hamilton County and Similar Counties)
- Permit Requirement: Obtain a permit to operate a short-term vacation rental.
- Pay an annual fee of $750, which includes $250 for the inspection.
- Annual Inspection: Pass annual inspections from the county's building inspection department, fire marshal, and groundwater department (if applicable).
- Signage: Post a sign with the STVR certificate number and owner/manager contact information, who must respond within 2 hours.
- Occupancy Limits: Limit occupancy based on the number of bedrooms (e.g., maximum of 14 people for a 5-bedroom home).
- Parking: Provide adequate on-site parking; no street parking is allowed.
- Noise Restrictions: No loud noise between 10pm-7am.
- Pet Regulations: Ensure pets are leashed when outside.
Additional Local Rules
- Zoning Restrictions: Comply with local zoning laws and restrictions on short-term rentals in specific zones.
- Local Contact: Have a local contact person available at all times via phone, who can reach the rental unit within 2 hours.
- Violations: Failure to comply can result in permit revocation, fines, and legal action.
For specific regulations in Humphreys County or Hurricane Mills, it is advisable to consult the local county or city government's official website or contact their administrative offices.
Top Neighborhoods for Airbnb Revenue in Memphis, Tennessee
1. Downtown Memphis
- Appeal: Downtown Memphis is a hub for cultural, dining, and sports entertainment. Guests are drawn to its proximity to iconic attractions like Beale Street, the Civil Rights Museum, the Orpheum Theater, and FedEx Forum. Properties here, such as the "Luxe Loft w/ View" and "Beautiful 1BR downtown condo near EVERYTHING!" offer modern décor, free parking, and easy access to major landmarks.
2. Cooper-Young Neighborhood
- Appeal: Known as the "historically hip" Cooper-Young neighborhood, this area is popular for its trendy restaurants, bars, and shops. Airbnbs like the "Cozy Duplex in 'Historically Hip' Cooper-Young" and "The Memphis House" offer stylish, renovated spaces that are within walking distance to local favorites and just a short drive from downtown Memphis.
3. Midtown Memphis
- Appeal: Midtown Memphis, including areas like Overton Square and Central Gardens, is appealing due to its vibrant atmosphere and convenient location. Guests can walk to Overton Park, the Memphis Zoo, and various dining and entertainment options. Properties such as the "Funky Midtown Royal Jewel Box" and "The Cottage in Central Gardens" provide a mix of comfort, unique décor, and easy access to local attractions.
4. East Memphis
- Appeal: East Memphis offers a more family-friendly and quiet neighborhood experience while still being centrally located. Airbnbs like the "Spacious Three-Bedroom, Two-Bathroom House" and "Charming home w/large backyard" provide ample space, fenced backyards, and proximity to the University of Memphis and other local amenities.
These neighborhoods are highly sought after due to their unique blend of cultural experiences, dining options, and convenient locations, making them ideal for a wide range of travelers.
Furnishing and Design Tips for an Inviting Airbnb in Hurricane Mills, Tennessee
Measuring and Layout
- Measure your rooms to determine the best layout, ensuring ample space to move around and unobstructed natural light sources.
Theme and Consistency
- Stick to a theme that reflects the unique style of Hurricane Mills, but opt for timeless, sturdy pieces that will last.
Essential Furniture
- Bedroom:
- Choose a solid bed with easy-to-clean surfaces and consider a storage bed for extra space.
- Select a mattress that is at least 8 inches thick, preferably a memory foam mattress for durability.
Use a mattress cover, ideally white for a hotel-like feel and ease of maintenance.
Living Area:
- Invest in a durable sofa, preferably one with washable covers. Consider a sofa bed to increase guest capacity.
Avoid real and faux leather sofas due to maintenance issues.
Dining Area:
- Use a tough and resistant dining table that can be enhanced with tablecloths, runners, and decorative items.
- Choose comfy, lightweight chairs that are sturdy and easy to move around.
Storage and Organization
- Incorporate smart storage solutions such as beds with drawers, wall hooks, pegboards in the kitchen, and stackable containers.
- Provide designated spots for guests' personal items, like luggage racks, to keep the space tidy.
Amenities and Essentials
- Kitchen:
- Equip the kitchen with essentials like a coffee maker, microwave, toaster, and kettle.
Include basic cookware, utensils, dinnerware, and extras like a blender and sharp knives.
Bathroom:
- Provide high-quality, durable towels in neutral colors that can be bleached.
- Ensure enough storage for toiletries and personal items using shelves or cabinets.
Include a hairdryer, basic toiletries, and a first-aid kit.
Work Space:
- Set up a sturdy desk and comfy chair for guests who need to work.
- Ensure good lighting and easy access to power outlets. High-speed internet is crucial for business travelers.
Safety and Accessibility
- Install smoke detectors, carbon monoxide detectors, and a first aid kit.
- Consider making your Airbnb accessible to guests with disabilities by adding features like ramps, wide doorways, and grab bars in bathrooms.
Decor and Ambiance
- Use mirrors to make the space feel bigger and brighter.
- Add plants to liven up the space.
- Ensure consistent lighting and use decorative items that reflect the local style of Hurricane Mills.
Local Touch
- Incorporate elements that reflect the unique culture and history of Hurricane Mills, such as local artwork, books, or decorative items that highlight the area's charm.
Discovering Hurricane Mills, Tennessee: Local Attractions and Insider Tips
Local Attractions
Loretta Lynn's Ranch
- One of Tennessee's largest tourist attractions, featuring concerts, weddings, horseback riding, canoe and kayak rentals, and tubing on Hurricane Creek.
- Guided tours of Loretta Lynn's replica coal mine, Butcher Holler childhood home, and her Plantation home.
- Coal Miner’s Daughter Museum showcasing her six-decade career and other museums like the Doll and Fan Museum, Native American Artifacts Museum, and the Grist Mill Museum.
Western Town
- Located in the heart of Hurricane Mills, featuring gift shops, guided tours, and museums. Includes an exact replica of Loretta Lynn’s childhood home in Butcher Holler, KY.
Montgomery Bell State Park
- Offers biking, boating, fishing, golfing, hiking, swimming, and picnic facilities. A great getaway for outdoor enthusiasts.
Johnsonville State Historic Park
- Commemorates the site of the Battle of Johnsonville with preserved forts, rifle pits, and a state-of-the-art Welcome Center. Features exhibits and hiking trails.
Loretta Lynn's Kitchen
- Known for southern-style cooking with a menu and all-you-can-eat buffet. Conveniently located near the Holiday Inn Express.
Log Cabin Restaurant
- A rustic restaurant built from 10-inch hickory logs, serving authentic country-style menus since 1966.
Insider Tips
Camping and Accommodations
- Loretta Lynn's Ranch offers cabin rentals, RV hookups, and primitive camping on over 3000 acres. It also features a full-service RV Park with 50-amp Water/Electric/Sewer Hookups and power and water campsites.
Special Events
- Check the ranch's event calendar for concerts, the AMA Amateur National Motocross Championship, and other family-friendly activities like the Spring Fling.
Outdoor Activities
- Enjoy hiking or fishing on over 100 miles of trails, or take a dip in the pool at Loretta Lynn's Ranch. Tubing and kayaking are also available on Hurricane Creek.
Local History
- Explore the historic Grist Mill, which was one of the first hydroelectric plants in the state, now repurposed as a museum. The area is part of the Hurricane Mills Rural Historic District listed on the National Register of Historic Places.
Dining and Shopping
- Visit the western stores and gift shops located within Western Town at Loretta Lynn's Ranch. For fresh produce and baked goods, head to Overholt's Farm Market.
Community
- The community is small and centered around Loretta Lynn's Ranch, with a post office and a few local businesses. The nearby Buffalo community offers additional amenities like gas stations, restaurants, and hotels.
Practical Tips to Run a Successful Short Term Rental Business in Hurricane Mills, Tennessee
To ensure a smooth and enjoyable experience for both you and your guests, here are some practical tips for managing a short-term rental business in Hurricane Mills, Tennessee.
Noise Regulations and Quiet Hours
Inform your guests about noise regulations and quiet hours to maintain a peaceful environment. Include this information in your listing and house manual to set clear expectations. This helps in avoiding complaints from neighbors and ensures a respectful stay.
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 details. This manual should also cover local attractions, nearby amenities, and any specific rules or regulations of the property.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide detailed parking instructions accompanied by photos to help guests navigate the property easily. This not only enhances guest satisfaction but also reduces the likelihood of misunderstandings or delays.
By implementing these strategies, you can create a welcoming and well-organized environment that attracts positive reviews and repeat bookings, ultimately contributing to the success of your short-term rental business in Hurricane Mills, Tennessee.
Here is a brief list of house cleaning and related services that could be relevant for Hurricane Mills, Tennessee, although specific providers in Hurricane Mills itself may be limited in the sources provided:
House Cleaning Services
- While there are no specific cleaning services listed for Hurricane Mills, you can consider services from nearby areas. For example, you might look into services from larger nearby towns:
- Molly Maid of S. Davidson, Williamson and Maury Counties: Although based in a different area, they might serve broader regions.
General Home Services
- For other home services such as repair and maintenance, the following types of providers are available in the general area:
- Basement Waterproofing
- Concrete Leveling and Lifting
- Crawlspace Encapsulation
- Foundation Repair
- Home Warranty
- Waterproofing: These services are listed under general home services in nearby areas.
Note
- Specific house cleaning services in Hurricane Mills, TN, are not directly listed in the provided sources. You may need to contact local cleaning services from nearby towns or use service matching platforms to find suitable providers.
Short-Term Rental Management Fees in Hurricane Mills, Tennessee
In Hurricane Mills, Tennessee, the fees for managing short-term rentals can vary significantly based on the scope of services provided. Typically, these fees range from 10% to 30% of the rental revenue. Full-service management, which includes comprehensive tasks such as guest communication, marketing, and maintenance, tends to fall on the higher end of this spectrum, often between 20% to 30% of the rental income. In contrast, basic services or a la carte options may incur lower fees, usually around 10% to 15%. Additionally, property owners may need to consider extra fees for services like cleaning, repairs, or design and optimization of the rental property.