Airbnb & VRBO Performance in New York City New York.

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

Registration Requirements

• Short-term rental hosts must register their units with the Mayor's Office of Special Enforcement (OSE) using New York City’s short-term rental registration portal.
• Hosts must provide personal and unit details and pay a non-refundable fee of $145.

Host Presence and Occupancy

• Hosts are required to be physically present during the rental period, unless the rental is for 30 consecutive days or more.
• Short-term rentals of entire apartments are prohibited unless the host shares the unit with a maximum of two guests.

Booking Platform Compliance

• Booking service platforms (e.g., Airbnb, VRBO, Booking.com) are prohibited from processing transactions for unregistered short-term rentals.

Data Sharing

• Home-sharing platforms must share data about listings and host activity with the City of New York, with host consent.

Security Deposit

• A security deposit is required for short-term furnished rentals to protect against property damage or missed rental payments.

Prohibited Buildings

• Short-term rentals are prohibited in certain buildings, such as NYCHA or entire rent-regulated buildings, as listed on the Prohibited Buildings list maintained by OSE.

Class B Exemptions

• Short-term rental listings for units in "Class B" multiple dwellings, approved by the City for legal short-term occupancies, are exempt from the registration requirement.

Minimum Stay Requirements

• Hosts can comply with the regulations by updating their minimum night stay to 30 nights or more, effectively converting to long-term rentals.

Taxes

• Hosts must comply with various taxes, including state and city sales tax, city hotel room occupancy tax, and state and city nightly room fees.

Enforcement

• Enforcement of the new rules began on September 5, 2023, with OSE collaborating with booking platforms to ensure compliance and stop processing unverified transactions.

Top Airbnb Neighborhoods in New York City by Revenue and Guest Appeal

1. Midtown, Manhattan

• Average Daily Rate: $554.8
• Average Revenue: $117.1K/year
• Occupancy Rate: 58%
• Best Month: September

Midtown is highly appealing due to its prime location, proximity to major attractions, and the start of the Broadway season in September. Guests can enjoy the vibrant dining scene, easy access to major landmarks, and the quintessential New York theater experience.

2. Upper West Side, Manhattan

• Average Daily Rate: $137
• Average Revenue: $39,017/year
• Occupancy Rate: 77%

The Upper West Side is attractive for its high occupancy rate and lucrative average daily rate. Guests are drawn to its residential feel, access to Central Park, and the neighborhood's cultural offerings, including museums and historic institutions.

3. Hell’s Kitchen, Manhattan

• Average Daily Rate: $382.2
• Average Revenue: $89.5K/year
• Occupancy Rate: 64%
• Best Month: September

Hell’s Kitchen offers a competitive advantage with its strategic location, vibrant dining scene, and proximity to Broadway theaters. Guests enjoy the neighborhood's transformation into a residential area with modern amenities and old New York charm.

4. Williamsburg, Brooklyn

• Average Daily Rate: $79
• Average Revenue: $49,575/year
• Occupancy Rate: 87%

Williamsburg is a trendy and hip neighborhood known for its art scene, craft breweries, and boutique shops. Guests appreciate the easy access to some of Brooklyn's best restaurants and nightlife, as well as the stunning views of Manhattan from East River State Park.

5. Harlem, Manhattan

• Average Daily Rate: $103
• Average Revenue: $49K/year
• Occupancy Rate: 74%
• Best Month: October

Harlem is appealing for its rich African American heritage, vibrant street life, and cultural events. Guests enjoy the authentic New York experience without the high Manhattan prices, making it a value proposition for those seeking a genuine local experience.

These neighborhoods stand out for their unique blend of cultural, culinary, and entertainment offerings, making them highly attractive to guests and lucrative for Airbnb hosts.

Furnishing and Design Tips for an Inviting Airbnb in New York City

General Tips

• Measure and Plan: Before buying furniture, measure your rooms and plan the layout to ensure there is ample space to move around and to make the most of natural light.
• Stick to a Theme: Choose a theme that reflects New York City's unique style, such as modern, chic, or vintage, and stick to it to maintain consistency.
• Focus on Essentials: Prioritize buying the essentials for each room rather than filling the space with unnecessary items. This helps in maintaining a clutter-free and safe environment.

Living Room

• Durable and Easy-to-Clean Furniture: Opt for sofas with washable covers and avoid real or faux leather as they are hard to maintain. Choose sturdy, comfortable pieces that can withstand heavy use.
• Smart Storage: Use space-saving furniture like sofa beds, folding tables, or ottomans with hidden storage to maximize space.
• Rugs and Lighting: Use a Persian-style rug to hide imperfections and add warmth. Replace harsh overhead lighting with smaller, warmer lights to create a cozy ambiance.

Dining Room

• Functional Tables: Choose dining tables that are tough and resistant to wear and tear. Opt for tables with under-table storage and ensure all chairs remain on the rug when pulled out.
• Comfortable Chairs: Select comfy, lightweight chairs that are easy to move around. Darker chairs can hide stains better and are more practical.

Bedroom

• Comfortable Mattresses: Use mattresses that are at least 8 inches thick, preferably memory foam for durability. Ensure the bed has a nice headboard for a cozy feel.
• Storage and Mirrors: Opt for beds without excessive storage to avoid operational hassles. Include a full-length mirror and ensure there is a power socket nearby for hair dryers and straighteners.
• Bedding and Linens: Choose comfortable and easy-to-clean bedding. Opt for white linens to give a hotel-like feel and ensure consistency by using the same brand.

Kitchen

• Essential Appliances: Equip the kitchen with essentials like a coffee maker, microwave, toaster, and kettle. Include basic cookware, utensils, and dinnerware.
• Storage and Organization: Provide ample storage for food and kitchen essentials. Use stackable containers and pegboards to keep the kitchen organized.

Bathroom

• High-Quality Towels: Use high-quality, durable towels in neutral colors that can be bleached. Ensure there is enough storage for toiletries and personal items.
• Safety and Convenience: Install grab bars if necessary, and provide a hairdryer, basic toiletries, and a first-aid kit.

Lighting and Decor

• Cozy Lighting: Use lamps and smaller lights to create a cozy ambiance. Avoid fluorescent lighting and opt for ceiling fans when using overhead lighting.
• Mirrors and Art: Use mirrors to make the space feel bigger and brighter. Hang large pieces of art or install a chandelier to add drama to small spaces.

Accessibility and Safety

• Guest Safety: Ensure the space is safe for all guests, including children and elderly individuals. Avoid furniture with sharp corners or tripping hazards.
• Accessibility Features: Consider adding ramps, wide doorways, and grab bars in bathrooms to make the space accessible to guests with disabilities.

Additional Tips

• Smart Storage Solutions: Use beds with drawers, wall hooks, and stackable containers to maximize storage without cluttering the space.
• Regular Maintenance: Regularly replace items like sheets and towels to maintain cleanliness and comfort.
• Guest Experience: Tailor your furnishings based on the type of guests you expect (e.g., families, couples, business travelers) to create a tailored vacation experience.

Must-See Attractions and Insider Tips for New York City

1. Statue of Liberty and Ellis Island

• Location: New York Harbor
• Time to Spend: Minimum of 2 hours for the Statue of Liberty, plus an extra hour for Ellis Island
• Insider Tip: Book an advanced reservation to climb up to the inside of the Statue of Liberty’s copper crown. Take the Staten Island Ferry for a free view or an NYC Harbor Cruise for a close-up look.

2. Central Park

• Location: New York, NY
• Time to Spend: Half a day to explore the entire park
• Insider Tip: Visit iconic spots like the Gapstow Bridge, The Mall, and Sheep Meadow. Don’t miss the Shakespeare Garden for a hidden gem.

3. Brooklyn Bridge

• Location: New York, NY 10038
• Time to Spend: About 30 minutes to walk the bridge, more if you stop for photos
• Insider Tip: Walk across the bridge in the early morning for fewer crowds or in the evening just before sunset for stunning views.

4. Times Square

• Location: Manhattan, NY 10036
• Time to Spend: About 30 minutes
• Insider Tip: Time your visit for 11:57 pm to witness the Midnight Moment, a unique 3-minute nightly spectacle where all the screens showcase rotating art installations.

5. Observation Decks: Empire State, Top of the Rock, One World Observatory

• Locations: Various in Manhattan
• Time to Spend: Varies, but at least 1-2 hours per location
• Insider Tip: Top of the Rock offers clear views of Central Park and the Empire State Building. One World Observatory provides views of the harbor and the Statue of Liberty. Edge at Hudson Yards is the tallest outdoor sky deck in the hemisphere.

6. The High Line

• Location: West side of Manhattan, from Gansevoort Street to 34th Street
• Time to Spend: About 1-2 hours
• Insider Tip: This elevated park, built on a former industrial railroad, features various plant species and original tracks. It’s a lesser-known but unique attraction.

7. 9/11 Memorial

• Location: Financial District
• Time to Spend: About 1-2 hours
• Insider Tip: While in the area, grab a bite to eat at Stone Street, known for its Dutch architecture and historical significance.

8. Greenwich Village, SoHo, and West Village

• Locations: Various in Lower Manhattan
• Time to Spend: Varies, but at least half a day
• Insider Tip: Explore local culture by shopping in SoHo, catching a comedy show in Greenwich Village, or grabbing a bite in the West Village. Each neighborhood offers a unique experience.

9. Staten Island Ferry

• Location: Whitehall Terminal in Manhattan to St. George Terminal in Staten Island
• Time to Spend: About 25 minutes each way
• Insider Tip: Take the ferry for a free view of the Statue of Liberty and the Manhattan skyline.

10. Time Out Market New York

• Location: DUMBO
• Time to Spend: About 1-2 hours
• Insider Tip: This market brings together top chefs and restaurants for a culinary sample of NYC. Enjoy live performances and art installations on the fifth-floor rooftop.

By sharing these attractions and insider tips, you can help your guests make the most of their visit to New York City.

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

To ensure a smooth and successful short-term rental business in New York City, several practical tips can make a significant difference in guest satisfaction and compliance with local regulations.

Noise Regulations and Guest Communication

Inform your guests about quiet hours and noise regulations to maintain a peaceful environment for both your guests and neighboring residents. Clearly outline these rules in your house manual and communicate them before the guest's arrival to avoid any misunderstandings.

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 information. This manual should also cover specific rules like occupancy limits, parking instructions, and any building or HOA regulations.

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 these locks, along with photos and videos to ensure a seamless entry for your guests. Additionally, include parking instructions with photos to help guests navigate any parking challenges.

Compliance and Efficiency

Ensure you are compliant with NYC's stringent short-term rental regulations, including the requirement to register with the Office of Special Enforcement (OSE) and the necessity of being present during short-term rentals of less than 30 days. Use technology to manage bookings, automate communication, and keep track of maintenance schedules to maintain a high-quality experience for your guests.

By following these tips, you can enhance the guest experience, ensure compliance with local laws, and ultimately run a successful and profitable short-term rental business in New York City.

Here is a brief list of house cleaning providers in New York City, New York:

House Cleaning Providers in NYC

White Glove Cleaner

• Based in Manhattan, offers residential and commercial cleaning services.
• Provides one-time, weekly, and biweekly cleaning, including move-in/move-out and deep cleaning.
• Uses their own cleaning products and supplies.

Handy

• Offers a full range of house cleaning services bookable through their app or website.
• Provides services such as sanitizing bathrooms, vacuuming, sweeping, mopping, and dealing with trash.
• Backed by the Handy Happiness Guarantee.

Lazy Susans Cleaning

• Provides various cleaning services including residential, commercial, Airbnb turnaround, and post-renovation cleaning.
• Offers customizable cleaning plans, including weekly, biweekly, and monthly cleans.
• Services include apartment cleaning, deep cleaning, and specialized cleaning like green cleaning and disinfecting.

NYC House Cleaners

• Offers comprehensive residential and commercial cleaning services.
• Includes services such as deep cleaning, move-in/move-out cleaning, same-day cleaning, and recurring cleaning schedules.
• Covers all areas of NYC including Manhattan, Brooklyn, Staten Island, Bronx, and Queens.

Sunlight Cleaning Company NYC

• Provides personalized cleaning plans and a range of cleaning services from dusting to vacuuming.
• Specializes in post-renovation cleaning and offers luxury cleaning services at affordable prices.
• Focuses on maintaining immaculate cleanliness in homes and offices.

Short-Term Rental Management Fees in New York City: A Breakdown

In New York City, the fees for managing short-term rental properties 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 25% to 30% of the rental income. In contrast, basic or half-service management, which may only include essential tasks like booking management and minimal maintenance, can cost less, usually between 10% to 15% of the revenue. Additionally, property owners may incur extra fees for services like cleaning, repairs, or design and setup, which can further impact the overall cost of property management.