Airbnb & VRBO Performance in Lake Placid Florida.

Short-Term Rental Regulations in Lake Placid, New York (Not Florida) for 2024

Lake Placid, New York

General Regulations

• Prohibition of Unhosted STRs: Unhosted short-term rentals are prohibited in most residential neighborhoods in Lake Placid and the town of North Elba. Existing permit holders are grandfathered in, but no new unhosted STR permits will be issued once the property changes hands.

Permit Requirements

• Mandatory Permits: All short-term rental operators must obtain a permit from the North Elba Building & Planning Department and register with Essex County.
• Types of Permits: There are four types of short-term rental permits available, though the specifics are not detailed in the sources provided.

Zoning Restrictions

• Village Center District: No limit on STR permits in the village center district, but properties must provide one long-term rental unit for every two STRs.
• Residential Areas: STRs are restricted in residential areas, except for those already permitted and grandfathered in.

Compliance and Enforcement

• Local Contact Person: A local contact person who can respond to issues within 30-60 minutes is required.
• Fines for Violations: Fines start at $350-$1000 for a first offense and increase to $1000-$3000 for subsequent violations.
• Active Enforcement: The Village of Lake Placid and the Town of North Elba actively enforce STR regulations, with significant fines for non-compliance.

Other Requirements

• Occupancy Taxes: STR operators must collect occupancy taxes.
• Off-Street Parking and Septic Capacity: Ensure adequate off-street parking and septic capacity to serve visitors.
• 90-Day Occupancy Limit: For rentals owned by non-residents in certain areas, there is a 90-day occupancy limit.

Note:

There are no short-term rental regulations specified for Lake Placid, Florida, as Lake Placid is a location in New York, not Florida. The regulations provided are for Lake Placid, New York. For Florida regulations, refer to the sources provided on short-term rental laws in various Florida cities and statewide regulations.

High-Revenue Airbnb Neighborhoods in Lake Placid, Florida

Why Lake Placid is Appealing for Guests

Lake Placid, known for its outdoor activities such as fishing, boating, and hiking, and its proximity to major cities like Miami and Orlando, makes it a popular vacation destination. Here are the key neighborhoods and areas that generate significant Airbnb revenue:

Key Areas and Neighborhoods

Lake Placid Winter Olympic Sites and Surroundings

• Attractions: Lake Placid Winter Olympic Museum, Olympic Ski Jump Complex, and the Lake Placid Center for the Arts.
• Appeal: Guests are drawn to the historic Olympic venues and the vibrant cultural scene, making properties near these sites highly sought after.

Mirror Lake and Downtown Area

• Attractions: Mirror Lake, shopping outlets, and gourmet dining experiences.
• Appeal: The scenic beauty of Mirror Lake and the convenience of being close to downtown amenities make this area highly desirable for guests.

Waterfront Properties

• Attractions: Waterfront homes with docks and fire pits, offering direct access to lakes and recreational activities.
• Appeal: Guests love the luxury and convenience of waterfront properties, which often include amenities like private pools and serene water views.

Mount Jo and High Falls Gorge

• Attractions: Mount Jo hiking trails and High Falls Gorge.
• Appeal: Nature lovers and adventure seekers are attracted to these areas for their natural beauty and outdoor recreational opportunities.

Cascade Mountain and Adirondack Experience

• Attractions: Cascade Mountain and the Adirondack Experience.
• Appeal: These areas offer a mix of recreational activities and educational experiences, making them appealing to a wide range of guests.

Revenue Potential

Properties in these areas can generate significant revenue due to high occupancy rates and premium daily rates. Here are some key metrics:- Average Daily Rate: Around $200-$287 per day.- Annual Revenue: A typical host can earn around $33,000 per year, with some properties reaching up to $57,134 annually.- Occupancy Rate: Median occupancy rate of 52% to 63%, indicating a strong demand for short-term rentals.

These neighborhoods in Lake Placid offer a combination of natural beauty, recreational activities, and cultural attractions that make them highly appealing to guests and profitable for Airbnb hosts.

Creating an Inviting Airbnb in Lake Placid, Florida: Design and Furnishing Tips

Embrace the Lake Life Aesthetic

• Incorporate Natural Elements: Use materials and colors that reflect the natural beauty of Lake Placid, such as wood accents, earthy tones, and plenty of greenery.
• Water-Inspired Decor: Add decorative elements like nautical themes, lake-inspired artwork, and aquatic colors to enhance the lakefront ambiance.

Optimize Lighting

• Layered Lighting: Install a combination of lamps, dimmer switches, and natural light to create a warm and inviting atmosphere.
• Outdoor Lighting: Ensure the outdoor spaces, such as docks and patios, are well-lit to extend the living area into the evening.

Comfortable and Functional Living Spaces

• Cozy Seating Areas: Create nooks with comfortable seating, soft blankets, and pillows to encourage relaxation and conversation.
• Occasional Tables: Provide ample space for guests to place drinks and snacks, ensuring everyone has a convenient spot.
• Swivel Chairs: Use swivel chairs to allow guests to easily turn towards the TV or other activities in the room.

Enhance Bedroom Comfort

• Luxurious Bedding: Offer high-quality bedding with multiple layer options and different fill choices for pillows to cater to various preferences.
• Bedside Tables and Lamps: Ensure each bed has its own bedside table and lamp, including features like USB ports or wireless charging.
• Temperature Control: Install ceiling fans and blackout shades to provide optimal temperature and light control.

Utilize Outdoor Spaces

• Screened-in Porches: Take advantage of the beautiful views by creating comfortable screened-in porches with outdoor kitchens and seating areas.
• Fire Pits and BBQ Grills: Include fire pits and BBQ grills to extend the living space outdoors and encourage social gatherings.
• Private Docks and Watercraft: If possible, provide private docks and include watercraft like kayaks, canoes, or paddleboards to enhance the lake experience.

Modern Amenities and Convenience

• Fully Equipped Kitchens: Ensure kitchens are fully renovated and equipped with modern appliances and ample cooking space.
• Onsite Laundry and EV Chargers: Offer convenient amenities like onsite laundry, EV chargers, and RV hookups to cater to a variety of needs.
• Free Wi-Fi and Entertainment: Provide free Wi-Fi, Netflix, and other entertainment options to keep guests connected and entertained.

Pet-Friendly Considerations

• Pet-Friendly Spaces: If allowing pets, ensure the space is pet-friendly with necessary amenities and a welcoming environment for furry friends.

Attention to Detail

• Cleanliness and Maintenance: Maintain high standards of cleanliness and ensure regular maintenance to keep the property in excellent condition.
• Personal Touches: Add personal touches like local guides, welcome baskets, and thoughtful notes to make guests feel welcome and valued.

Discover Lake Placid, Florida: Local Attractions and Insider Tips

Local Attractions

Murals and Art

• Lake Placid Murals: Explore the historic downtown area and view nearly 50 large murals depicting the town's history, including stories of pioneers, Native Americans, and local wildlife. Pick up a mural guide at the Visitor’s Center for a self-guided tour.

Museums and Education

• Toby's American Clown Museum and School: Visit the museum to see clown memorabilia and even sign up for a clown class. Over 1,500 clowns have graduated from this school since 1993.
• Lake Placid Historical Society Depot Museum: Learn about the town's history at this historic Atlantic Coast Line Railroad depot, now a museum listed on the National Register of Historic Places.

Outdoor Activities

• Highlands Hammock State Park: Hike trails, take a tram tour, or walk the boardwalk to see a variety of wildlife, including alligators, deer, and birds. Open 365 days a year.
• Freshwater Lakes: Enjoy watersports, swimming, boating, sailing, and fishing in one of the 27 clear, freshwater lakes in the area.
• Archbold Biological Station: Hike trails and enjoy the scenic views of this biological station.

Festivals and Events

• Caladium Festival & Car Show: Celebrate the Caladium Capital of the World with arts, crafts, plant tours, and entertainment, held the last weekend in July.
• Saturday Market: Visit the Journal Plaza for a weekly market featuring locally grown vegetables, arts, crafts, and food items.
• Friday Night Movie: Enjoy outdoor movies, popcorn, and fellowship at the Journal Plaza on the 1st and 3rd Fridays of the month.

Wineries and Distilleries

• Henscratch Farms Vineyard and Winery: Sample award-winning wines, explore the gift shop, and enjoy u-pick fruits and festivals.
• Tropical Winery: Experience wine tastings, craft beer flights, and local honey, with dance parties on Thursdays.
• Sugar Sand Distillery: Visit Florida’s only estate-grown sugar cane farm distillery for free tastings and tours available on Saturdays.

Other Attractions

• Lake Placid Tower: Although currently closed to the public, this 240-foot tall observation tower is a notable landmark and was once the tallest concrete block structure in the world.
• Sebring Golf Club: Play a round of golf at this highly-rated 18-hole championship golf course.

Insider Tips

Dining

• Jaxon’s on the Lake: Enjoy casual, classic American fare with a scenic view.
• Casa Tequila Mexican Restaurant and Bar: Try their unique ice-cream taco with a crispy chocolate shell.
• Wet Dogs Brewing: Sample craft beer, wine, hard ciders, and more in a local favorite spot.

Shopping

• Caladium Arts & Crafts: Explore local arts and crafts, and shop for unique items.
• Antique Shops: Discover a variety of antique shops throughout the town.

Nearby Attractions

• Seminole Brighton Casino: Just a 20-minute drive away, offering slots, table games, and live entertainment.
• Disney World and Orlando Attractions: Less than a two-hour drive from Lake Placid, perfect for a day trip.

Seasonal Events

• Independence Day Fireworks: Watch the annual fireworks display from land or water in July.
• Christmas Parade: Enjoy the classic parade featuring floats, cheerleaders, and official vehicles in December.
• World Famous Wild Game Dinner: Experience a unique dinner to benefit local non-profits on the first Saturday in December.

By sharing these attractions and tips, you can help your Airbnb guests make the most of their visit to Lake Placid, Florida.

Practical Tips to Run a Successful Short Term Rental Business in Lake Placid, Florida

To ensure a smooth and profitable short-term rental business in Lake Placid, Florida, several key strategies can be implemented. First, it is crucial to inform guests about noise regulations and quiet hours to maintain a respectful environment for both guests and neighbors. This can be done through clear communication in the rental listing and a digital or physical house manual that outlines all important instructions, including Wi-Fi passwords and other essential details.

Creating a comprehensive house manual is essential for guest satisfaction. It should include step-by-step instructions for using appliances, as well as contact information for local services and emergency contacts. A simplified check-in process can be achieved by utilizing smart locks, which eliminate the need for physical key exchanges and provide guests with immediate access upon arrival. Additionally, providing detailed parking instructions accompanied by photos can help reduce confusion and ensure a hassle-free experience for your guests.

By focusing on these aspects, you can enhance guest satisfaction, reduce potential issues, and maintain a positive reputation for your short-term rental business in Lake Placid.

Here is a brief list of house cleaning services and related providers in Lake Placid, Florida:

House Cleaning Services

• Top-Rated Cleaning Services Experts: Listed on HomeAdvisor with real reviews and ratings.
• BBB Accredited House Cleaning: Accredited by the Better Business Bureau, includes house cleaning, cleaning services, and carpet and rug cleaners.
• Angie's List House Cleaners: Top 10 best house cleaners in Lake Placid, FL, with real reviews and ratings.
• Turno Airbnb Cleaning Services: Specializes in vacation rental and Airbnb cleaning, offering features like auto-scheduling and digital checklists.
• Care.com House Cleaning Services: Provides affordable house cleaning options starting at $14.00/hr, with listings by rates, reviews, and experience.

Note

For repair or maintenance services, the provided sources do not specifically list providers in Lake Placid, FL. However, websites like HomeAdvisor, Angie's List, and the Better Business Bureau often include a broader range of home services, including repairs and maintenance, which can be explored further on their respective platforms.

Short-Term Rental Management Fees in Lake Placid, Florida

In Lake Placid, Florida, managing short-term rentals involves a range of fees that can significantly impact your revenue. Typically, these management fees range from 10% to 30% of the rental revenue, varying based on the level of service provided. Full-service management, which includes comprehensive tasks such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often ranging between 20% to 30% of the rental income.

In contrast, basic services that may only include listing and booking management might incur lower fees. Additionally, property owners should be prepared for other potential costs, such as cleaning fees, repair expenses, and design or amenities upgrades, which can further reduce their net earnings. Understanding these fees is crucial for optimizing the financial performance of your short-term rental property in Lake Placid.