Airbnb & VRBO Performance in Ithaca New York.

Short-Term Rental Regulations in Ithaca, New York for 2024

Key Regulations

Eligibility and Primary Residence

• Short-term rentals are only allowed in the host's primary residence, where the host must live for at least 184 days per year.

Permit Requirement

• Hosts must obtain a short-term rental operating permit from the City of Ithaca to legally operate a short-term rental. Applications will be available by January 1, 2025, and full enforcement begins on June 1, 2025.

Property Restrictions

• Short-term rentals are permitted in single-family homes, two-family homes, and any owner-occupied unit. Non-owner-occupied properties, including second homes and properties owned by corporations or LLCs, are not eligible.

Safety and Compliance

• Properties must meet all applicable building, fire, and zoning codes. A Certificate of Compliance (C of C) is required, which involves a property inspection by the Building Department.

Insurance and Taxes

• Hosts must provide proof of adequate liability insurance and register to pay the required room occupant taxes. Quarterly payment receipts for occupancy taxes must be submitted.

Documentation

• Hosts must gather and submit two proofs of primary residency, such as a valid driver's license, voter registration, or previous year's tax return.

Permit Display and Affidavit

• Permit numbers must be displayed on all short-term rental listings. Hosts must sign an affidavit certifying the accuracy of the information provided and agree to abide by all city regulations.

Enforcement

• Hosts found operating a short-term rental without a valid permit can face fines of $250 per day.

Community Impact

• The regulations aim to stabilize the housing market, increase housing stock, and preserve neighborhood communities by limiting the conversion of long-term housing into short-term rentals.

Top Neighborhoods for Airbnb Revenue in Ithaca, New York

1. Fall Creek Neighborhood

• Appeal: This neighborhood is highly walkable and centrally located, making it ideal for guests. It is just a short walk from the heart of downtown Ithaca, the pedestrian Commons, Cornell University, Ithaca College, and beautiful parks and trails. Properties here, such as the "Newly Remodeled Fall Creek Gem - Upstairs" and the "Vintage Designer Flat with Modern Touches," are highly rated for their cleanliness, location, and modern amenities.

2. Downtown Ithaca

• Appeal: Downtown Ithaca offers easy access to The Commons, Restaurant Row, shops, cafes, and the vibrant nightlife. Apartments like the "Charming, Downtown and Conveniently Located" and "Designer 2BR House Located Downtown" are favorites among guests due to their proximity to key attractions, convenient off-street parking, and fully equipped kitchens.

3. East Hill Historic District

• Appeal: This area is known for its historic charm and convenience. Guests love the "Eclectic Downtown Apartment - Walk to Everything!" for its private entrance, porch, and proximity to restaurants, cafes, shops, and Cornell University. The district's walkability and scenic views, such as those of Cascadilla Gorge, add to its appeal.

4. Northeast Ithaca

• Appeal: Northeast Ithaca is appealing due to its balance of quiet surroundings and easy access to downtown Ithaca. Rentals like the "Sunny and charming apartment" and "Sun Filled & Cheerful Apartment by Cornell Campus" are popular for their modern amenities, private entrances, and proximity to Cornell University and local shopping centers.

5. Northwest Ithaca

• Appeal: This area is close to key attractions such as the Ithaca Yacht Club, Taughannock Falls, and New York Wine Country. The "Close to Everything" apartment and similar rentals are favored for their new construction, fully equipped kitchens, and convenient location near hospitals, parks, and hiking trails.

These neighborhoods are highly sought after due to their combination of central locations, modern amenities, and easy access to Ithaca's educational institutions, natural attractions, and cultural activities.

Creating an Inviting Airbnb in Ithaca, NY: Design and Furnishing Tips

Essential Comforts and Local Charm

• Heating and Air Conditioning: Ensure reliable heating and air conditioning to accommodate Ithaca’s varied climate. Add local touches like throw blankets made by local artisans and eco-friendly cooling systems to reflect Ithaca’s green ethos.
• Fully Equipped Kitchen: Provide a kitchen stocked with tools to explore local produce. Include guides to Ithaca’s farmers’ markets and recipes from local restaurants. Offer locally sourced coffee and tea as a welcoming gesture.

Experiential Amenities

• Reliable Wi-Fi: Ensure fast and dependable Wi-Fi. Create a small workspace with views of Ithaca’s landscape, catering to remote workers and students.
• Smart TVs and Streaming Services: Invest in smart TVs with access to streaming services. Curate a list of documentaries or shows featuring New York’s natural beauty or history.

Incorporating Local Art and Culture

• Local Artwork: Decorate with pieces from Ithaca’s artists to immerse guests in the local art scene. Provide information about the artists and where more of their work can be seen.
• Guides to Hidden Gems: Offer custom guides to Ithaca’s less-known attractions, such as secret waterfall hikes, off-the-beaten-path eateries, or small, local wineries.

Luxury Touches on a Budget

• Entryway Welcome: Create a welcoming entryway with thoughtful touches such as a clean and inviting space that makes guests feel special.
• Living Room Layout: Ensure the living room layout evokes conversation and comfort. Include lamps, dimmer switches, soft blankets, and pillows with different fill options. Provide occasional tables and a cozy reading nook.
• Bedroom Comfort: Offer the best bedding options without adding extra work to turnovers. Provide extra bedding layers in the closet, and ensure each bed has two sleeping pillows with different fill options. Include bedside tables and lamps with USB ports or wireless charging features. Use blackout shades to cater to different sleepers.

Outdoor and Unique Amenities

• Proximity to Nature: Highlight proximity to hiking trails, waterfalls, and other natural attractions. Outdoor amenities like fire pits, hot tubs, and porches with views of the surrounding landscape are highly desirable.
• Seasonal Amenities: Tailor your amenities to the season. For example, provide bicycles for downtown exploration during the Ithaca Festival in late May to early June.

Design and Color Choices

• Natural Tones: Use light, natural tones to create an open, airy feeling. Bold colors can add personality but should be used thoughtfully to maintain a welcoming atmosphere.

Guest-Centric Details

• Personalized Welcome: Offer personalized welcome baskets, especially during peak events like graduations and homecoming. Tailor amenities to families, such as additional bedding and celebratory welcome baskets.
• Dedicated Workspaces: Ensure properties have dedicated workspaces, especially for remote workers and students, which is a common need in Ithaca.

Practical Tips to Run a Successful Short-Term Rental Business in Ithaca, New York

To operate a successful short-term rental business in Ithaca, New York, under the city's new regulations, several practical tips can enhance the guest experience and ensure compliance with local laws.

Noise Regulations and Quiet Hours

Inform your guests about the quiet hours and noise regulations in the neighborhood. Include this information in both your digital and physical house manual to avoid any potential issues. A clear notice can help maintain a peaceful environment for both your guests and the local residents.

Creating a Comprehensive House Manual

Develop 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 cover house rules, including noise regulations, to ensure guests are well-informed and respectful of the property and neighborhood.

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, and consider including a video tutorial to make the process even smoother.

Parking Instructions with Photos

Include detailed parking instructions in your house manual, accompanied by photos to help guests understand where and how to park. This can prevent confusion and potential parking violations, ensuring a hassle-free stay for your guests.

By implementing these strategies, you can enhance guest satisfaction, maintain good relations with the local community, and comply with Ithaca's short-term rental regulations, which require hosts to live on the property for at least 184 days per year and obtain a permit from the city.

Here is a brief list of house cleaning, repair, and maintenance providers in Ithaca, New York:

House Cleaning Services

• The Clean Team: Offers residential cleaning services, including daily, weekly, and monthly packages. They also provide commercial cleaning and carpet cleaning services.
• Daisy Maid Service: Specializes in residential cleaning with reasonable rates and satisfaction guaranteed. They also offer green/earth-friendly cleaning products upon request.
• Life Maid Heavenly: Provides residential and commercial cleaning services, construction cleaning, and uses up-to-date techniques and sustainable products. All technicians are background checked and certified.

Repair and Maintenance Services

• Castle Services of Ithaca: Offers standardized cleaning programs for homes and offices, as well as additional services such as plumbing, electrical work, and custom carpentry.

Additional Resources

• Care.com: Lists various house cleaning services in Ithaca, NY, allowing users to search by rates, reviews, and experience.

Short-Term Rental Management Fees in Ithaca, New York: A Breakdown of Costs and Services

In Ithaca, New York, the fees for managing short-term rentals 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, which includes comprehensive services such as guest communication, marketing, booking management, and property maintenance, tends to be on the higher end of this spectrum, often ranging between 15% to 30%.

Basic service packages, which may include only the essential management tasks like listing creation and booking management, can start as low as 10% of the rental income. Additional fees may apply for specific services such as cleaning, repairs, or interior design, which can further impact the overall cost. Property managers in Ithaca offer flexible pricing packages to cater to different needs and budgets, ensuring that hosts can choose a service level that aligns with their financial and operational requirements.