In Newport, Rhode Island, short-term rentals are thriving, with an average daily rate of $386, 59% occupancy, and a monthly revenue of $32,689, indicating a robust and lucrative market for vacation rentals.
Thriving Short-Term Rental Market in Newport, Rhode Island
Newport, Rhode Island, is experiencing a robust short-term rental market, driven by its allure as a popular tourist destination. According to recent data, short-term rentals in Newport boast an impressive 59% average occupancy rate, highlighting the strong demand for these accommodations. The average daily rate for these rentals stands at $386, contributing to a significant monthly revenue of $32,689. This performance is further bolstered by a growth in active listings, with an 8% increase over the past year. These metrics underscore the viability and attractiveness of short-term rentals in Newport, making it an appealing option for both investors and travelers alike.
Short-Term Rental Regulations in Newport, Rhode Island for 2024
General Regulations
- Registration Requirements:
Properties used for short-term rentals must be registered with both the State of Rhode Island Department of Business Regulation and the City of Newport.
Zoning Restrictions:
- Short-term rentals are not permitted in residential zones unless the property serves as the primary residence of the owner. New short-term rentals are prohibited in general business, waterfront business, and limited business districts, although existing ones are allowed to continue operating.
Safety and Fire Code
- Fire Safety Inspections:
All transient guest facility applications must be reviewed by the Fire Marshal's Office to ensure compliance with fire safety standards. Properties hosting more than 5 individuals may require fire protection systems, including fire alarm systems and sprinklers.
Occupancy Classifications:
- Different fire protection requirements apply based on the number of occupants and the type of use (e.g., Bed & Breakfast, Lodging & Rooming House).
Operational Requirements
- Off-Street Parking:
Properties may need to meet an off-street parking requirement of one space per bedroom to be eligible for short-term rentals.
Annual Renewal:
- Transient Guest House Applications must be renewed annually and are subject to review. Applications should be sent to the City Clerk's Office no later than May 31st each year.
Compliance and Enforcement
- Fines for Non-Compliance:
Failure to register a short-term rental with both the State and the City can lead to substantial civic fines and potentially court action.
Inspections and Approvals:
- Properties must undergo property use and/or fire safety inspections before being issued a Certificate of Transient Guest House Facility.
Additional Considerations
- Grandfathered Properties:
Existing legally established guest houses are allowed to continue operating, but new ones in specified business districts are prohibited. There are concerns about the potential for grandfathered properties to gain outsized value.
Community Impact:
- The city aims to balance tourism and housing needs, with ongoing discussions about the impact of short-term rentals on the local housing stock and community character.
Top Neighborhoods Generating Airbnb Revenue in Newport, Rhode Island
1. Downtown Newport
- Appeal: Downtown Newport is highly sought after due to its proximity to Thames Street, the waterfront, and numerous restaurants, shops, and nightlife spots. Properties like the "CHIC Thames Str. Deck Harbor Views" and "Central Downtown Newport House & Private Parking" are favorites among guests for their central location, allowing easy access to historic sites, waterfront activities, and local amenities.
2. Historic Hill
- Appeal: This neighborhood is appealing for its historic charm combined with modern amenities. The "Peleg Barker House" is a prime example, offering a spacious and family-friendly environment just steps from Thames Street and Washington Square. The historic homes here provide a unique and authentic Newport experience.
3. Fifth Ward
- Appeal: The Fifth Ward neighborhood is popular due to its short walk to downtown and the waterfront. Rentals like the "Newport Studio close to Downtown and Waterfront" offer amenities such as private off-street parking, full kitchens, and indoor gas fireplaces, making it an attractive option for guests seeking convenience and comfort.
4. Broadway and South Broadway
- Appeal: This area is favored for its quiet yet central location. Properties such as the "cozy 1 bedroom apartment with parking & balcony" are located near the Newport Police Station and offer easy walking or biking distance to shops, bars, and restaurants. The proximity to Bellevue Avenue and the beaches adds to its appeal.
5. Cliff Walk and Easton's Beach Area
- Appeal: Neighborhoods near the Cliff Walk and Easton's Beach are highly desirable for their scenic views and direct access to beaches. Rentals like the "Spacious Suite in Newport Victorian" and "Open Concept Beach House" in Middletown offer spacious living areas, multiple decks, and a short walk to the beach, making them ideal for families and large groups.
These neighborhoods are consistently highly rated and in demand due to their prime locations, historical significance, and the array of amenities and activities they offer to guests.
Creating an Inviting Airbnb in Newport, Rhode Island: Design and Furnishing Tips
To make your Airbnb in Newport, Rhode Island, a standout and reflective of the city's unique style, consider the following tips:
Entryway
- Create a welcoming first impression with a thoughtfully designed entryway.
- Provide amenities such as a keyless entry, a place to hang coats, and a small table or bench for guests to set down their belongings.
Living Room
- Lighting Control: Install lamps and dimmer switches to offer flexible lighting options.
- Comfortable Seating: Include plush blankets, pillows with different fill options, and a pouf for guests to put their feet up.
- Functional Layout: Ensure the room layout encourages conversation and provides each guest with a place to set their drinks and engage in activities like reading or watching TV.
Bedroom
- High-Quality Bedding: Offer multiple bedding layers and different pillow fill options to cater to various preferences.
- Temperature and Lighting Control: Provide ceiling fans, bedside tables with lamps (including USB ports or wireless charging features), and blackout shades to enhance the sleep experience.
- Cozy Atmosphere: Add decorative elements that reflect Newport's coastal and historic charm.
Kitchen
- Modern Appliances: Equip the kitchen with top-of-the-line appliances, such as stainless steel appliances and granite countertops.
- Functional Space: Ensure the kitchen is well-organized and includes all necessary utensils and amenities for meal preparation.
Outdoor Spaces
- Utilize Natural Beauty: If possible, include outdoor spaces like decks, patios, or backyard areas where guests can enjoy the coastal environment.
- Amenities: Provide outdoor amenities such as BBQ grills, comfortable seating, and scenic views to enhance the guest experience.
Decor and Style
- Coastal Theme: Incorporate a coastal-themed decor with light and airy color palettes, rustic elements, and nautical touches to reflect Newport's seaside environment.
- Historic Influence: Blend contemporary and historic influences, such as exposed brick, high ceilings, and classic nautical décor, to create a unique and inviting atmosphere.
Technology and Amenities
- Smart Features: Include smart TVs, high-speed internet, and other modern technologies to enhance guest comfort and convenience.
- Local Art and Decor: Add local art pieces and vintage items that reflect Newport's history and cultural heritage to create a memorable and authentic experience.
Neighborhood Considerations
- Proximity to Attractions: Ensure the property is located near popular attractions such as beaches, the Cliff Walk, and downtown shopping and dining areas to enhance the guest experience.
By incorporating these elements, you can create an Airbnb in Newport that is both inviting and reflective of the city's unique style, ensuring a memorable stay for your guests.
Discovering Newport, Rhode Island: Local Attractions and Insider Tips
Local Attractions
Historic Mansions
- The Breakers, Marble House, The Elms, and Rosecliff: Explore these Gilded Age mansions, open to the public and hosting special events like the Newport Flower Show and holiday celebrations.
Cliff Walk
- A 3.5-mile path offering breathtaking views of the Atlantic Ocean and historic mansions. The walk includes easy paved paths and more challenging rocky terrain, with eight street access points.
Bellevue Avenue
- Known for its charming architecture, this avenue is home to historic buildings, the International Tennis Hall of Fame, and the Audrain Auto Museum. It also features several great restaurants.
Beaches and Coastal Activities
- Enjoy surfing, kite-flying, and other beach activities at Easton’s Beach, Bailey’s Beach, and other local beaches. Sailing, kayaking, and boat tours are also available.
Festivals and Events
- Newport Jazz Festival, Newport Folk Festival, and other seasonal festivals like the Irish Festival, Christmas in Newport, and the Newport Winter Festival.
Museums and Historical Sites
- Naval War College Museum: Explore naval history at the city’s naval base.
- Newport Museum of Yachting: Learn about yachting history, especially the America’s Cup.
- International Tennis Hall of Fame: Celebrate the sport of tennis and its global community.
Nature and Outdoor Activities
- Greenvale Vineyards: A winery with live jazz music, outdoor seating, and stunning ocean views. Accessible via a short drive or ride-sharing services.
- East Bay Bike Path: A 14-mile path from Providence to Barrington, ideal for biking, walking, and jogging.
- Colt State Park: A peaceful area for outdoor sports and picnics.
Downtown Newport
- Bowen’s Wharf: An upscale area with restaurants and a charming atmosphere, especially at night.
- Historic Downtown: Stroll through Colonial-period buildings, enjoy dining, and explore local shops.
Insider Tips
Getting Around
- Use the water taxi or shuttle services provided by some resorts to access nearby attractions easily.
- Consider charter flights for quick trips to nearby destinations like Block Island, Martha’s Vineyard, and Nantucket.
Dining and Nightlife
- Empire Tea & Coffee, Pasta Beach, and CRU Café: Recommended restaurants along Bellevue Avenue.
- Bowen’s Wharf: Enjoy the lively atmosphere and upscale dining options.
Hidden Gems
- Green Animals topiary garden: Located in Portsmouth, this whimsical garden is a unique attraction.
- Blithewold Mansion and Gardens: A waterfront estate in Bristol with a 45-room manor house and spectacular gardens.
Seasonal Activities
- Holidays at the Newport Mansions: Experience the mansions decorated for Christmas from late November to early January.
- Newport Helicopter Tours: Get a unique perspective on Newport’s attractions with discounted rates for some resort guests.
Local Events
- Check the local event calendar for festivals, concerts, and other activities that might interest your guests.
By providing these insights, you can help your guests make the most of their visit to Newport, Rhode Island.
Practical Tips to Run a Successful Short-Term Rental Business in Newport, Rhode Island
To ensure a smooth and successful short-term rental business in Newport, Rhode Island, several key practices can be implemented:
Noise Regulations and Guest Communication
Inform your guests about the city's noise regulations and quiet hours to avoid any potential issues. Include this information in both your digital and physical house manual to set clear expectations.
Comprehensive House Manual
Create a detailed digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important details about the property. This manual should be easily accessible to guests, either through a welcome packet or a digital link provided upon booking.
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, along with photos and videos to help them navigate any specific steps.
Parking Instructions
Ensure that parking instructions are clear and accompanied by photos to help guests understand where and how to park. This is particularly important given Newport's off-street parking requirements for short-term rentals, which mandate one parking space per bedroom.
By following these tips, you can enhance the guest experience, reduce potential issues, and maintain compliance with Newport's short-term rental regulations.
Here is a brief list of house cleaning services in Newport, Rhode Island:
House Cleaning Services
Cleaning Zoom
- Locally owned, serving Newport, RI, and nearby communities (Middletown, Portsmouth, Jamestown, Tiverton, Little Compton)
- Experts with 25+ years of experience
- Background-checked, bonded, and insured cleaners
- Instant, flat-rate pricing and booking.
Merry Maids of Rhode Island
- Offers comprehensive cleaning services across Rhode Island, including East Providence
- 40 years of experience
- Focuses on delivering exceptional cleaning results.
Various Providers Listed on Care.com
- Over 20 house cleaning services listed in Newport, RI
- Average rate of $22.94/hr as of October 2024
- Providers can be compared based on rates, reviews, and experience.
Providers Listed on Angie's List
- Top 10 best house cleaners in Newport, RI, with real reviews and ratings.
Providers Listed on Thumbtack
- The 10 best house cleaning services in Newport, RI, rated by the local community.
Note:
There are no specific repair or maintenance providers listed in the sources provided, as they primarily focus on house cleaning services.
Short-Term Rental Management Fees in Newport, Rhode Island: A Comprehensive Guide
In Newport, Rhode Island, 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 guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum. These comprehensive services ensure that the property is professionally managed, offering owners minimal involvement and peace of mind. However, basic services that only cover essential tasks such as guest check-ins and communication may be less expensive. Additionally, property owners should be aware that extra fees can apply for services like cleaning, repairs, and interior design, which can further impact the overall cost of managing a short-term rental property.