Osceola, Wisconsin, is experiencing robust short-term rental performance, with an average daily rate of $254-$346, an occupancy rate of 55%-48%, and significant monthly revenue, making it an attractive destination for investors and travelers alike.
Thriving Short-Term Rental Market in Osceola, Wisconsin
Osceola, Wisconsin, is experiencing a robust short-term rental market, making it an attractive destination for both investors and travelers. According to recent data, short-term rentals in Osceola boast an average daily rate of $254 to $346, depending on the source. The occupancy rate for these rentals is around 48% to 55%, indicating a steady demand for these properties. This combination of decent occupancy and lucrative daily rates translates to a monthly revenue of approximately $3,670 to $3,3534, highlighting the potential for strong cash-on-cash returns in this market. With its scenic location on the St. Croix National Scenic Riverway and its appeal to outdoor enthusiasts, Osceola continues to be a promising spot for short-term rental investments.
Short-Term Rental Regulations in Osceola, Wisconsin for 2024
While the Village of Osceola currently does not have specific ordinances limiting or regulating short-term rentals, here are some key regulations and considerations that apply based on state and general local guidelines in Wisconsin:
Statewide Regulations
- Tourist Rooming House (TRH) License: Property owners must obtain a TRH License from the Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) if they rent out a residential dwelling for less than 30 consecutive days and for more than 10 nights per year.
- Pass a health and safety inspection.
- Pay a one-time pre-inspection fee of $300 and an annual license fee of $110.
- Provide proof of liability insurance.
General Local Regulations
- Health and Safety Standards: Properties must meet health and safety standards as part of the TRH license requirements.
- Rental Caps: State law allows properties to be rented out for up to 180 days per year, although local municipalities can impose stricter limits.
- Zoning Restrictions: Local zoning ordinances may restrict short-term rentals to certain areas or impose specific requirements, although Osceola does not currently have such restrictions.
- Additional Permits: Some localities require additional permits or licenses beyond the state TRH license. Property owners should check with local authorities to see if any specific permits are required in Osceola.
Potential Future Regulations
- Community Response and Adaptation: Given the lack of current regulations, the Village of Osceola may introduce new ordinances in response to community concerns or the growth of the short-term rental market. Property owners should stay informed about any upcoming changes.
Compliance and Documentation
- Local Zoning Permit or Conditional Use Permit: Even though Osceola does not currently have specific short-term rental regulations, property owners should ensure compliance with any general rental licensing and zoning requirements that may apply.
- Guest Registration: Some localities require maintaining a register of guests, which could be a future requirement in Osceola if regulations are introduced.
It is crucial for property owners in Osceola to stay updated on any new regulations or ordinances that may be implemented and to comply with the existing statewide requirements.
Top Airbnb Revenue-Generating Neighborhoods in Osceola, Wisconsin
1. Lake Osceola Area
- Appeal: This area is highly appealing due to its scenic beauty and exclusive properties like the [Lake Osceola Retreat], a historic lake house situated on 100 acres of private land. Guests are drawn to the tranquility and privacy offered by such unique and spacious accommodations.
2. Osceola Town Center
- Appeal: The town center offers a mix of historic homes and modern amenities, making it an attractive location for various types of travelers. Properties like the [Cascade House], a charming historic home, are ideal for couples, bachelorette parties, or family gatherings due to their charm and central location.
3. Somerset Area (Adjacent to Osceola)
- Appeal: While technically in Somerset, these homes are close enough to Osceola to be considered part of the broader area. They offer a blend of rural tranquility and easy access to local attractions, making them appealing for those seeking a relaxed yet connected stay.
4. Saint Croix Falls Area (Adjacent to Osceola)
- Appeal: Similar to Somerset, the Saint Croix Falls area provides a scenic and peaceful environment with easy access to natural attractions. Guests are drawn to the beautiful landscapes and the opportunity to engage in outdoor activities.
5. Cottage Grove Area (Adjacent to Osceola)
- Appeal: This area offers a more suburban experience with homes that are well-equipped for longer stays. The proximity to Osceola and other local attractions, combined with the comfort of fully furnished rentals, makes it an attractive option for guests looking for a home-away-from-home experience.
These neighborhoods generate significant Airbnb revenue due to their unique blend of natural beauty, historic charm, and modern amenities, catering to a wide range of guest preferences.
Creating an Inviting Airbnb in Osceola, Wisconsin: Budget-Friendly Design Tips
To make your Airbnb in Osceola, Wisconsin, stand out and reflect the city's unique style, here are some budget-friendly furnishing and design tips:
1. Add Vertical Interest
- Paint or add wallpaper to the ceiling to create a visually appealing element. This is cheaper than installing a chandelier, saving you around $75 compared to the cost of a chandelier and its installation.
2. Optimize Bedroom Space
- Use a combination of a 4ft plant and a standup mirror instead of a dresser. This setup is particularly useful for shorter stays and can save you over $200 compared to buying a dresser and additional decor.
3. Decorate with Vintage Items
- Instead of buying new sculptures or decor, use vintage books and other second-hand items to add pops of color and interest. This can significantly reduce your decoration costs.
4. Choose Cost-Effective Sleeping Solutions
- Consider using rollaway beds instead of sleeper sofas, which can save you an average of $1,200. Ensure the rollaway beds have some design element to avoid a cheap look.
5. DIY Projects
- Paint your own walls, stage your own rooms, and install your own wallpaper or chandeliers. DIY projects can save you a substantial amount on one-off launch costs, allowing you to set up more Airbnbs with less money.
6. Incorporate Local Elements
- Reflect Osceola's natural beauty by incorporating elements like pine and cedar accents, reminiscent of the local flora. This can be done through furniture choices, wall decor, or even the use of natural materials in your decor.
7. Utilize Outdoor Spaces
- Highlight the outdoor amenities that Osceola offers, such as proximity to lakes, hiking trails, or scenic views. Ensure your outdoor spaces are well-maintained and equipped with amenities like grills, fire pits, and outdoor seating areas.
8. Maintain Cleanliness and Comfort
- Ensure your Airbnb is highly rated for cleanliness and comfort. Pay attention to details such as providing Wi-Fi, free parking, and air conditioning, which are highly valued by guests in the area.
9. Unique and Cozy Ambiance
- Create a cozy and unique ambiance by adding elements like log-fired fireplaces, screened-in porches, or private hot tubs and saunas. These features can make your Airbnb stand out and appeal to guests looking for a memorable stay.
10. Photography-Friendly Design
- Design your space with photography in mind. Ensure that every element, from the floor to the ceiling, is visually appealing to attract more bookings through compelling photos.
Discovering Osceola, Wisconsin: Local Attractions and Insider Tips
Local Attractions
Natural Wonders
- Cascade Falls: A 25-foot waterfall in downtown Osceola, surrounded by scenic walking paths. Don't miss the opportunity to stand under the falls and get drenched.
- St. Croix National Scenic Riverway: Paddle or take a boat ride along this beautiful river that forms the border between Wisconsin and Minnesota.
Historical and Cultural Sites
- Emily Olson House: A historic house that offers a glimpse into the past of Osceola.
- Osceola and St. Croix Valley Railway: Take a vintage train ride from the restored 1916 Soo Line depot. Also, visit the Osceola and St Croix Valley Railway Museum located in the depot.
- St. Croix Art Barn: Explore local art and culture at this unique venue.
Outdoor Activities
- Interstate Park: Spanning both Minnesota and Wisconsin, this park offers trails like the River Trail, River Bluff Trail, Summit Rock Trail, and the Pothole Trail. Don't miss the Hidden Fireplace on the Echo Canyon Trail.
- Trollhaugen Recreational Area: Enjoy zip lining, an aerial adventure park, and other outdoor activities.
- Franconia Sculpture Park: A unique park featuring large-scale sculptures in a natural setting.
Community Events and Activities
- Osceola Community Fair: Attend local fairs and festivals to experience the community's vibrant culture.
- Wheels & Wings: An event showcasing cars and airplanes.
- Valley Brew Fest: Sample local craft brews and enjoy the festive atmosphere.
Insider Tips
Dining and Shopping
- Local Eats: Enjoy BBQ at the Falls Music Festival, savor apple pie, or try fresh maple syrup from local farms like Glenna Farms and Morleys Maple.
- Vintage Shopping: Explore the historic downtown area for unique, vintage shopping experiences.
Seasonal Activities
- Summer: Soak up the sun, hike the trails, or take a swim in one of the many lakes. Average highs are around 79°F.
- Winter: Hit the trails after a fresh snowfall. Average highs are around 24°F.
- Fall: Enjoy the scenic vistas with average highs of 56°F.
- Spring: Explore the trails as the weather warms up, with average highs of 54°F.
Unique Experiences
- Wild Mountain Waterpark: Let 350 gallons of water pour over your head at the “Wild Adventure Island” or slide down the “Black Hole Speed Slide”.
- Gandy Dancer Trail: Pedal over old railway beds and ride the trail from Osceola to Luck and back.
- Full Moon Paddle: Paddle under the full moon on the St. Croix National Scenic Riverway for a magical experience.
Relaxation and Leisure
- Overlook in St. Croix Falls: Find shade under the trees, listen to the rushing water of the dam, and enjoy a good book.
- Drive-In at Taylors Falls: Order a famous Frostop Rootbeer and a fresh-made burger at this local hotspot.
By sharing these attractions and tips, you can help your guests make the most of their visit to Osceola, Wisconsin.
Practical Tips to Run a Successful Short Term Rental Business in Osceola, Wisconsin
To ensure the success and smooth operation of a short-term rental business in Osceola, Wisconsin, several practical tips can be implemented:
Noise Regulations and Quiet Hours
Inform your guests about the local noise regulations and quiet hours to maintain a peaceful environment for both the guests and the neighbors. Include this information in your digital and physical house manual to avoid any potential issues.
Digital and Physical House Manual
Create a comprehensive house manual that includes essential instructions, Wi-Fi passwords, and other important details about the property. This manual should be easily accessible both digitally and in physical form within the rental property.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. This not only enhances guest convenience but also reduces the administrative burden on the property owner.
Parking Instructions with Photos
Provide clear parking instructions accompanied by photos to help guests navigate the parking area easily. This can be included in the house manual or sent as a welcome message before their arrival, ensuring a smooth and stress-free experience.
By implementing these tips, you can enhance the guest experience, reduce potential issues, and maintain a positive reputation for your short-term rental business in Osceola, Wisconsin.
Here is a brief list of house cleaning providers in Osceola, Wisconsin:
House Cleaning Services in Osceola, WI
Sparkling and Beyond
- A professional cleaning company using state-of-the-art equipment with years of experience.
Homeaglow
- Offers top-rated, professional, and affordable house cleaning services with background-checked cleaners. Initial 3-hour clean starts at $19.
Econo-Green Cleaning Services
- Committed to excellence and integrity, providing cleaning services since 2020.
Care.com Listings
- Provides a list of affordable house cleaning options starting at $16.00/hr, searchable by rates, reviews, and experience.
Angie's List House Cleaners
- A list of top-rated house cleaners in Osceola, WI, with real reviews and ratings.
Short-Term Rental Management Fees in Osceola, Wisconsin
In Osceola, Wisconsin, 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, and maintenance, tends to be on the higher end of this spectrum. In contrast, basic services that offer fewer amenities may incur lower fees. Additionally, property owners may need to consider extra fees for services like cleaning, repairs, and design, which can further impact the overall cost of management.