Airbnb & VRBO Performance in Lakeview Heights Kentucky.

Short-Term Rental Regulations in Lexington, Kentucky (Relevant to Lakeview Heights Area) for 2024

While the specific regulations for Lakeview Heights are not provided in the sources, the regulations for Lexington, Kentucky, which would be applicable to areas like Lakeview Heights, are as follows:

Proposed and Existing Regulations

Occupancy Limits

• Reducing occupancy limits in all STRs from a maximum of 12 guests to a maximum of 10 guests.

Distance Requirements

• An unhosted STR unit (where the operator does not live on the property) may not be located within 500 feet of another unhosted unit.
• Unhosted STRs cannot represent more than 3% of housing units inside any 1,000 foot circle in a neighborhood, with exceptions for units adjacent to business zones or as specified in neighborhood plans.

Single-Family Lots

• Allowing only 1 STR unit on a single-family lot, regardless of whether the unit is hosted or unhosted.

Licensing Changes

• If an operator decides to change an STR from a hosted unit to an unhosted unit, or vice versa, they will need to apply for a new license.

General Requirements

• STR operators must obtain Zoning Compliance, Business License, and Special Fees License.
• Properties must meet safety standards, including smoke and carbon monoxide detectors, emergency exits, and adherence to building codes.

Advertising and Registration

• Advertisements must include the rental’s Local Registration Number and specify the maximum number of occupants.
• Hosts must register their short-term rental property and maintain an active registration.

Fees

• Special Fees License at $200 for the first unit and $100 per additional unit.
• Annual short-term rental registration fee (in some areas, such as Louisville, this fee is $250).

Public Hearings and Community Feedback

• The Planning Commission will hold a public hearing to get community feedback before approving or disapproving any updates to the regulations.

State-Level Considerations

• State laws require permits for short-term rentals, with regulations focusing on public health and safety, fire and building safety, sanitation, transportation, and traffic control.

Top Airbnb Revenue-Generating Areas Near Lakeview Heights, Kentucky

While specific data for Lakeview Heights, Kentucky, is not provided in the sources, we can infer some of the most appealing and revenue-generating areas in the broader region of Kentucky, particularly around lakes and popular tourist spots. Here are some notable areas that are likely to generate significant Airbnb revenue:

Kentucky Lake Area

• Grand Rivers: Known for its proximity to Kentucky Lake, this area offers numerous waterfront properties, marinas, and outdoor activities like fishing and kayaking. Guests are drawn to the scenic views, recreational opportunities, and the convenience of amenities like Patti's Restaurant and the marina.
• Benton: This area is close to several marinas and offers cozy cabins and guesthouses. Guests appreciate the natural light, outdoor grills, and the short drive to nearby marinas.

Lake Cumberland Area

• Somerset: Properties here are highly rated for their views of Lake Cumberland, proximity to restaurants and gas stations, and access to public boat ramps. Guests enjoy the newly renovated homes and the local amenities.
• Monticello: This area is popular for its beautiful farmhouses near Lake Cumberland, offering a country setting and easy access to the lake. Guests praise the cleanliness and location of these properties.

Other Notable Areas

• Lexington-Fayette: Although not directly on a lake, Lexington-Fayette is a significant Airbnb market due to its year-round popularity, especially during events like the Kentucky Derby. Properties here offer a stable and profitable short-term rental income, with an average annual revenue of $31,000 and a median occupancy rate of 59%.

Why These Areas Are Appealing

• Scenic Views and Outdoor Activities: Areas like Kentucky Lake and Lake Cumberland offer stunning waterfront views, fishing, kayaking, and other outdoor activities that attract nature-loving guests.
• Proximity to Amenities: Many of these locations are close to restaurants, marinas, and other local amenities, making them convenient for guests.
• Highly Rated Properties: Properties in these areas are often highly rated for cleanliness, location, and overall guest experience, which helps in attracting repeat and new guests.
• Year-Round Popularity: Places like Lexington-Fayette maintain a steady demand throughout the year due to various events and attractions, ensuring a stable income stream for Airbnb hosts.

Creating an Inviting Airbnb in Lakeview Heights, Kentucky: Design and Furnishing Tips

To make your Airbnb in Lakeview Heights, Kentucky, a standout and reflective of the local charm, consider the following design and furnishing tips:

Functional Layout

Ensure your space has a functional layout that maximizes usability and convenience for your guests. Consider ease of movement, access to amenities, and comfortable seating areas. A well-thought-out layout enhances the overall guest experience.

Personal Touches

Add personal touches that reflect your personality and the local culture. This can include unique artwork, handmade decorations, or a curated selection of books and local guides. These personal additions create a memorable experience for your guests.

Local Features

Incorporate local elements into your design to immerse guests in the city's culture. Use artwork by local artists, traditional decor elements, and provide a guidebook to the best local restaurants and attractions. This enhances the guest experience and makes your property more desirable to travelers.

Attention to Detail

Pay attention to small details that can make a big difference in the guest experience. High-quality linens, comfortable bedding, toiletries, and thoughtful snacks can leave a lasting impression on your guests and increase the likelihood of positive reviews and repeat bookings.

Lighting and Comfort

• Implement effective lighting control with lamps and dimmer switches to create a cozy and inviting atmosphere.
• Provide nice, soft blankets and pillows with down or down-like inserts to ensure comfort.
• Include occasional tables and a place for guests to put their feet up, such as a pouf.

Bedroom Luxury

• Offer the best bedding options without adding extra work to your turnovers. Store extra bedding layers in the closet.
• Provide two sleeping pillows per guest with different fill options.
• Ensure temperature control with ceiling fans or air conditioning.
• Offer bedside tables and lamps for each guest, including features like USB ports or wireless charging.

Design with Photography in Mind

• Avoid cluttered spaces and opt for clean, minimalist designs that photograph well.
• Use natural light, strategically placed plants, and stylish furniture to create visually appealing photos that will attract potential guests.

Entryway First Impressions

• Make the entryway welcoming by providing simple yet thoughtful items such as a welcome note, fresh flowers, or a small gift. This sets a positive tone from the moment guests arrive.

Outdoor and Local Amenities

• Highlight the natural beauty of Lakeview Heights by incorporating outdoor amenities such as a hot tub, fire pit, or outdoor dining area.
• Emphasize the proximity to local attractions like the Red River Gorge or Cave Run Lake to enhance the guest experience.

Discover Lakeview Heights, Kentucky: Local Attractions and Insider Tips

Local Attractions

Outdoor Adventures

• Cave Run Lake: Known as the Musky Capital of the South, perfect for fishing, boating, and kayaking.
• Daniel Boone National Forest: Explore private trails, go hiking, biking, or enjoy swimming and rock climbing.
• Sheltowee Trace Junction: A must-visit for outdoor enthusiasts with breathtaking trails and natural beauty.

Local Landmarks and Activities

• Morehead State University and MSU Eagles Football: Catch a game or visit the campus.
• Eagle Trace Golf Course: For golf enthusiasts looking to tee off.
• Minor E. Clark Fish Hatchery: One of the largest fish hatcheries in the nation.
• Carrington Rock: A scenic spot for hiking and exploration.

Cultural Experiences

• CoffeeTree Books and Fuzzy Duck Coffee Shop: A great place to relax with a book and a cup of coffee.
• Kentucky Folk Art Center: Showcase of local and regional folk art.
• Rowan County Arts Center: Features local art and cultural events.

Nearby Attractions

• Red River Gorge: Only a short drive away, offering additional hiking, rock climbing, and outdoor activities.
• Lexington, Kentucky (60 miles West): Visit Keeneland Horse Racing, Mary Todd Lincoln House, and the University of Kentucky.
• Huntington, West Virginia (60 miles East): Explore the Heritage Farm Museum and Village, Huntington Museum of Art, and Joan C. Edwards Stadium.

Insider Tips

Dining

• Pop’s Southern Style BBQ: For a taste of traditional Southern cuisine.
• Root-A-Bakers: Local bakery with delicious treats.
• Melina’s Cucina Italian: Enjoy Italian dining in the heart of Morehead.

Activities for All Ages

• Sheltowee Falls Splash Pad: A fun spot for families during the summer.
• Morehead Peddler’s Mall: Shop local goods and antiques.
• Home For Wayward Baby Dolls: A unique attraction for those interested in quirky collections.

Tips for Outdoor Enthusiasts

• Utilize the gameroom and outdoor amenities: Many cabins offer foosball, tetherball, and outdoor grills for entertainment.
• Soak in hot tubs: Relax after a day of hiking in one of the many hot tubs available at local cabins.
• Explore waterfalls: Some cabins offer private waterfall views, making for a serene and peaceful stay.

By providing these local attractions and insider tips, your guests will have a well-rounded and enjoyable experience in Lakeview Heights, Kentucky.

Practical Tips to Run a Successful Short Term Rental Business in Lakeview Heights, Kentucky

To ensure the success and smooth operation of a short-term rental business in Lakeview Heights, Kentucky, several key factors must be considered. Here are some practical tips:

Noise Regulations and Quiet Hours

Inform your guests about local noise regulations and quiet hours to maintain a peaceful environment and avoid any potential issues with neighbors. Clearly communicate these rules in your rental agreement and through a welcome message.

Digital and Physical House Manual

Create a comprehensive digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important details about the property. This manual should cover everything from appliance usage to emergency contact information, ensuring guests have all the information they need at their fingertips.

Simplified Check-in Process

Implement a simplified check-in process by utilizing smart locks, which eliminate the need for physical keys and reduce the risk of key loss or misplacement. Provide guests with detailed instructions on how to access the property, along with photos of the entrance and any specific steps they need to follow.

Parking Instructions with Photos

Ensure that guests know where to park by providing clear parking instructions accompanied by photos. This helps prevent confusion and potential parking issues, making the arrival process smoother and less stressful for your guests.

By following these tips, you can enhance the guest experience, reduce potential issues, and maximize the revenue potential of your short-term rental in Lakeview Heights, Kentucky.

As of the provided sources, there is no specific information on house cleaning, repair, or maintenance providers exclusively serving Lakeview Heights, Kentucky. However, here are some general options that might be relevant for the nearby area of Covington, KY, which could potentially serve Lakeview Heights:

House Cleaning Services

• Multiple Local Services: There are 14 house cleaning services listed in Covington, KY, with an average rate of $20/hr and an average experience of 4 years.

National Chains

• While there are no specific locations mentioned for Lakeview Heights or Covington, KY, you can check national chains like Molly Maid or The Maids to see if they have any nearby locations that might serve your area. However, based on the provided sources, these chains do not have listed locations in Kentucky.

To find more specific providers, you may need to search local directories or contact these services directly to inquire about their service areas.

Lakeview Heights, Kentucky: Understanding Short-Term Rental Management Fees

In Lakeview Heights, Kentucky, 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, which includes comprehensive tasks such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often falling 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 may need to account for extra fees related to cleaning, repairs, or design enhancements, which can further impact the overall cost of managing their short-term rentals.