Despite seasonal fluctuations, Park City, Utah, remains a highly desirable and lucrative destination for short-term rentals, with average daily rates and occupancy levels indicating strong demand and significant revenue potential, even during off-peak periods.
Thriving Short-Term Rental Market in Park City, Utah
Park City, Utah, continues to shine as a premier destination for short-term rentals, driven by its allure as a ski resort and cultural hub. Despite some seasonal fluctuations, the market remains robust. As of recent data, short-term rentals in Park City maintain a strong occupancy rate, with an average occupancy of around 54% throughout the year.
The average daily rate (ADR) for these rentals is impressive, standing at approximately $735, which is a testament to the city's enduring appeal to tourists. Even during transitional months like May, when the ski season ends and summer activities have not yet peaked, the ADR remains relatively stable, dropping only slightly to $143.
This stability and high demand make Park City an attractive investment opportunity for those considering vacation rental properties, highlighting the city's consistent draw for both domestic and international visitors.
Short-Term Rental Regulations in Park City, Utah for 2024
Licensing and Zoning
- To offer lodging for a fee for periods less than 30 days, you must obtain a Nightly Rental License from Park City, provided the property is located in a zone where short-term rentals are allowed.
- Use the interactive short-term rental zoning map to determine if your property is in a permitted zone.
Inspection and Safety
- All nightly rentals must be inspected by the Building Department to ensure compliance with safety and zoning requirements.
Management and Operations
- Properties must be properly managed, including housekeeping, trash removal, and parking.
- A local contact person must be available 24 hours a day for emergencies or neighbor complaints.
Taxation
- Obtain a State Sales Tax ID number from the Utah State Tax Commission, unless using platforms like Airbnb or VRBO, which may handle tax reporting on your behalf.
Noise Ordinances
- Comply with noise ordinances to avoid complaints and ensure harmony with the local community.
Accessory Dwelling Units (ADUs)
- Short-term rentals in accessory dwelling units (guest houses or add-on apartments) are banned, with a minimum rental period of 30 days required in compliance with state policy.
Additional Requirements
- Register a "DBA" (Doing Business As) with the Utah Department of Commerce if necessary.
- Ensure compliance with section 4-2-1 & 4-5-3 of Park City’s Municipal Code.
Enforcement
- Enforcement of regulations relies on the honor system, with reports from neighbors or other parties.
Property Restrictions
- Vacation rentals are not allowed in most parts of Park City, and HOAs or governing bodies can crack down on unauthorized rentals.
- Specific areas like The Canyons Village of Park City Mountain and Kimball Junction (Redstone and Newpark) in Summit County are designated for short-term rentals.
Top Neighborhoods Generating Airbnb Revenue in Park City, Utah
1. Old Town
- Appeal: Old Town is the heart of Park City, offering a vibrant mix of historical charm and modern convenience. Guests are drawn to its colorful, restored miners' cottages, sophisticated new constructions, and proximity to Main Street's boutiques, art galleries, and renowned restaurants. It is also near Park City Mountain Resort, providing easy access to skiing and snowboarding.
2. Lower Deer Valley
- Appeal: Known for its luxury and proximity to the award-winning Deer Valley ski resort, Lower Deer Valley offers ski-in/ski-out access, stunning mountain views, and high-end amenities. The area is popular for its elegant condos and sprawling mountain estates, making it a year-round destination with hiking trails, summer concerts, and fine dining.
3. Canyon Village
- Appeal: This neighborhood is at the forefront of luxury and convenience, offering a vibrant, ski-in/ski-out community. It provides immediate access to some of the best skiing in North America, along with upscale dining, shopping, and entertainment options. The area is family-friendly and features stylish condos, townhomes, and luxury penthouses.
4. Deer Crest
- Appeal: Deer Crest is a gated community known for its luxury and exclusivity. It offers private ski runs, ski-in/ski-out access to Deer Valley Resort, and breathtaking views of the Jordanelle Reservoir. The area combines privacy with convenient access to downtown Park City, making it ideal for those seeking a luxurious and secluded lifestyle.
5. Thaynes Canyon
- Appeal: Located next to the Park City Golf Course and the slopes of Park City Mountain Resort, Thaynes Canyon offers a serene, wooded setting with easy access to outdoor activities. The neighborhood features elegant, rustic lodges to modern estates, appealing to those who appreciate a quiet, natural environment while being close to Main Street and ski resorts.
6. Park Meadows
- Appeal: This neighborhood is popular among families and retirees for its serene setting, spacious homes, and proximity to schools, parks, and recreational facilities. Park Meadows features traditional and contemporary homes, including luxury estates overlooking the Park Meadows Country Club golf course, making it an attractive option for those seeking a family-friendly environment.
These neighborhoods are highly appealing due to their combination of luxury amenities, easy access to ski resorts, vibrant community life, and stunning natural beauty, making them top choices for Airbnb guests in Park City, Utah.
Tips for Furnishing and Designing an Inviting Airbnb in Park City, Utah
1. Choose a Cohesive Style
Select a style that reflects Park City's unique blend of modern and rustic elements. Consider incorporating contemporary design with rustic accents such as reclaimed wood and industrial touches to create a warm yet stylish atmosphere.
2. Select a Harmonious Color Palette
Pick a color palette of 3-4 complementary colors that align with your chosen style. For a tranquil feel, use lighter, cool-toned colors. For a bold look, incorporate primary colors. For a modern and chic feel, use a high contrast color palette with metallic accents.
3. Add Cozy Textures and Fabrics
Include soft textured pillows, throw blankets, and a cozy rug to create a welcoming atmosphere. Use wool rugs for durability and comfort. Add large floor baskets or blanket ladders filled with ultra-soft blankets for guests to snuggle up in.
4. Style Surfaces for a Lived-In Feel
Decorate surfaces such as coffee tables, end tables, and nightstands with interesting items like coffee table books, decorative objects, candles, and faux greenery. This adds a special touch and makes the space feel more lived-in.
5. Ensure Functional and Comfortable Furniture
Choose furniture that is both inspiring and functional. Ensure the sofa is comfortable and the right size for the space. Add accent chairs or poufs for additional seating. In bedrooms, consider adding an accent chair or bench at the foot of the bed.
6. Enhance with Modern Lighting and Hardware
Replace outdated light fixtures and hardware with new, stylish options. This can significantly improve the overall look and feel of the space, making it more appealing to guests.
7. Incorporate Local Art and Historical References
Add unique decor elements that reflect Park City's local culture and history. This can include original art, historical references, or local artifacts that differentiate your property from generic hotel offerings.
8. Provide Essential Amenities
Include amenities that are highly valued by guests, such as hot tubs, well-appointed kitchens, modern furnishings, and family-friendly extras. These features can significantly enhance the guest experience and lead to higher ratings and repeat bookings.
9. Consider Seasonal and Event-Driven Decor
Park City's tourism is driven by seasonal activities and events. Adjust your decor and amenities to cater to these seasons. For example, emphasize winter sports amenities during the ski season and outdoor activities during the summer.
10. Add Storage and Organization
Include stylish and functional storage solutions such as luggage racks, storage benches, and bins or baskets to keep the space organized and clutter-free. This adds to the overall comfort and convenience for guests.
Discover Park City, Utah: Local Attractions and Insider Tips
Local Attractions
1. Utah Olympic Park
- Located just outside downtown Park City, this park was the venue for the 2002 Winter Olympics. Visitors can explore the museum, watch national ski teams practice, and experience the bobsled track, zip lines, and an alpine slide.
2. Historic Park City Main Street
- The heart of Park City, Main Street is home to over 200 unique businesses, including independent boutiques, one-of-a-kind restaurants, and the historic Egyptian Theatre. Don't miss the town lift for mountain access.
3. Swaner Preserve and EcoCenter
- A 1,200-acre nature preserve offering nature tours, environmental education, wildlife viewing, and interactive exhibits. Enjoy the climbing wall and other family-friendly activities.
4. Park City Museum
- Learn about the history of mining in Park City and the settlers who arrived here. The museum features fun exhibits and interactive activities for all ages.
5. Jordanelle Reservoir
- Perfect for a day of picnicking, swimming, fishing, or trekking. This reservoir offers a cool retreat with beautiful views and outdoor activities.
6. Park City Alpine Coaster
- Utah’s longest mountain coaster, taking you through a mile of twists and turns at speeds up to 30mph. Enjoy the scenic views of Park City.
7. Skywalker Balloon Rides
- Experience Park City from the air with a hot-air balloon ride, offering breathtaking views daily, weather permitting.
8. Union Pacific Rail Trail
- A 28-mile non-motorized trail ideal for hiking, horseback riding, or mountain biking. Enjoy close-up views of local wildlife and wildflowers.
9. Red Pine Adventures
- Explore the beautiful mountains on horseback with guided tours. See alpine lakes, wildflower-laden meadows, and expansive mountain views.
10. Sundance Film Festival (Seasonal)
- If visiting in January, don't miss the Sundance Film Festival, a week-long event showcasing independent films and attracting film enthusiasts from around the world.
11. Park Silly Market (Seasonal)
- During the summer, Main Street transforms into a bustling open-air market featuring local art, gourmet food, unique exhibitions, and live music.
12. Outlets Park City
- For some retail therapy, visit the Outlets Park City with nearly 60 name-brand and designer stores.
Insider Tips
Dining and Shopping on Main Street: Make sure to explore the unique restaurants and boutiques along Historic Main Street. It's a great place to find local gems and enjoy a meal or snack.
Seasonal Activities: Check the season for specific activities like the Sundance Film Festival, Park Silly Market, and Guardsman’s Pass, which offer unique experiences depending on the time of year.
Outdoor Adventures: Park City has over 400 miles of trails for hiking, mountain biking, and other outdoor activities. Don't miss the opportunity to explore the beautiful Wasatch Mountains.
Local Events: Keep an eye out for local events such as concerts at the Deer Valley Summer Music Festival and the annual Summit County Rodeo.
Wellness and Relaxation: After a day of adventure, unwind at one of the many spas or wellness centers in Park City. The Park Plaza Resort also offers an indoor swimming pool, game room, and fitness center.
Day Trips: Consider day trips to nearby attractions like Guardsman’s Pass, Antelope Island State Park, and Thanksgiving Point for additional exploration opportunities.
By sharing these attractions and insider tips, you can help your guests make the most of their visit to Park City, Utah.
Practical Tips to Run a Successful Short Term Rental Business in Park City, Utah
To ensure a smooth and successful short-term rental business in Park City, Utah, several key practices should be implemented. First, it is crucial to adhere to the city's noise regulations by informing guests about quiet hours and the consequences of noise violations. This can be effectively communicated through a digital and physical house manual that includes all necessary instructions, Wi-Fi passwords, and other essential information.
A simplified check-in process can significantly enhance the guest experience. Utilizing smart locks eliminates the need for physical key exchanges and provides guests with immediate access to the property. Additionally, providing detailed parking instructions accompanied by photos can help avoid confusion and ensure that guests comply with local parking regulations.
By following these tips, you can maintain a positive relationship with your guests and the local community, while also ensuring compliance with Park City's stringent regulations, such as those related to zoning, safety standards, and tax requirements.
Here is a brief list of house cleaning, repair, and maintenance providers in Park City, Utah:
House Cleaning Services
- Experts Cleaning: Offers various cleaning services in Park City, UT.
- PHOENIX House Cleaning: Provides house cleaning with free estimates.
- Madam's Cleaning Services: Services include residential cleaning.
- Lila Lima Cleaning: Offers house cleaning services in Park City.
- Kings of Clean: Provides cleaning services with a focus on customer satisfaction.
- Extreme Clean and Handyman: Offers both cleaning and handyman services.
- RIO CLEANING SERVICES: Specializes in residential and commercial cleaning.
- 4U Cleaning Service: Provides various cleaning services, including move-out and deep cleans.
- Pure Living Cleaning Services: Offers residential and commercial cleaning.
- Help me Clean: Provides flexible cleaning schedules and various cleaning services.
- Ghost Dusters: Specializes in house and office cleaning.
- The Dust Troopers House & Office Cleaning: Offers comprehensive cleaning services.
- Sir Cleans-A-Lot: Known for high-rated cleaning services.
- MAIDINSLC: Provides cleaning services for residential and commercial properties.
- CleanUp: Offers various cleaning services, including move-out and deep cleans.
- Jeanine WILL CLEAN: Personalized cleaning services.
- Lu's Cleaning Service: Extensive experience in cleaning all sized properties.
- All-in-1 Cleaning Service: Provides a wide range of cleaning services.
Specific Cleaning Companies
- Daisy Maids: Specializes in residential, office/commercial, move-in/move-out, and custom cleaning packages.
- Park City House Cleaning: Offers residential and commercial cleaning, including move-out, deep cleans, Airbnb cleans, and more. They are HCT Certified, bonded, and insured.
- Affordable Park City Cleaning Services: Family-owned service specializing in vacation rental cleaning, decluttering, and home organization at affordable prices.
Additional Services
- Extreme Clean and Handyman: Also offers handyman services in addition to cleaning.
- Park City House Cleaning: Includes services like new construction cleaning, real estate cleaning, and disinfecting.
Short-Term Rental Management Fees in Park City, Utah
In Park City, Utah, 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 companies, such as LocalVR and Awning, which handle comprehensive tasks including guest communication, marketing, and maintenance, tend to charge fees on the higher end of this spectrum, often starting at 15% of revenue.
In contrast, basic or half-service management options, like those offered by Evolve, may charge lower fees, such as 10%, but leave more of the operational responsibilities, like cleaning and guest communication, to the property owner.
Additional fees may also apply for specific services like cleaning, repairs, or design and furnishing, which can further impact the overall cost of managing a short-term rental property in Park City.