The current short-term rental market in Plymouth, New Hampshire is thriving, with high yields, a median occupancy rate of 56%, and an average annual host income of $61,927, making it an attractive and lucrative investment opportunity.
Thriving Short-Term Rental Market in Plymouth, New Hampshire
Plymouth, New Hampshire, is experiencing a robust and lucrative short-term rental market, driven by its unique blend of natural beauty, cultural attractions, and the presence of Plymouth State University. The market boasts impressive performance indicators, with short-term rentals showing high yields. These properties are booked for an average of 204 nights per year, achieving a median occupancy rate of 56%. The average daily rate for these rentals stands at $307, resulting in an annual host income of approximately $61,927. This strong demand, particularly during peak seasons such as late spring, summer, and the fall foliage period, makes Plymouth an attractive and rewarding location for short-term rental investments.
Short-Term Rental Regulations in Plymouth, New Hampshire for 2024
Based on the available information, here are some key regulations and considerations for short-term rentals in Plymouth, New Hampshire:
Fire and Safety Inspections
- While the original requirement was for annual in-person inspections, the amended ordinance recommends fire and life safety inspections every 5 years, aligning with VTSTRA standards and other Vermont towns.
Health and Safety Controls
- Regulations include health condition controls and respect for neighbors, which are expected to be followed by all rental businesses.
State Lodging Tax
- Short-term rental operators must remit the state lodging tax.
Knox Boxes
- Knox Boxes are recommended but not required, with the rationale that if safety is the concern, it should be a requirement for all residences in town.
Homeowners Insurance
- The choice of homeowners insurance is left to the property owner, with no town oversight on the details of the insurance policy.
Parking
- Parking restrictions based on bedroom count are suggested to be outdated. Instead, a town-wide regulation prohibiting on-street parking and requiring on-site parking is recommended.
Occupancy
- Occupancy limits should be based on the legal limit determined by a State Fire Safety Certification, or limited to two people times the number of legal bedrooms plus two, to prevent sewer/septic damage and control wastewater management.
Management Plan
- A management plan for the protection of residents’ privacy and security should be in place prior to any mandated entry provision.
Registration and Compliance
- While specific to Plymouth, the general trend in New Hampshire suggests that municipalities can require registration, pay a registration fee, and submit to site inspections to ensure compliance with local ordinances.
Municipal Authority
- Municipalities in New Hampshire have the authority to regulate land use, including limiting or prohibiting short-term rentals to address local concerns such as health, safety, and welfare.
Community Notifications
- Similar to other New Hampshire towns, property owners may need to notify adjacent neighbors of their intent to operate a short-term rental.
Zoning Ordinances
- Municipalities can modify their zoning ordinances to better define and regulate short-term rentals, ensuring compliance with community standards.
This list is based on the amendments and discussions around the Short-Term Rental Ordinance in Plymouth and general regulations in New Hampshire. However, for the most accurate and up-to-date information, consulting the specific ordinances and legal counsel in Plymouth is recommended.
Top Airbnb Revenue-Generating Neighborhoods in Plymouth, New Hampshire
Why These Neighborhoods Are Appealing
Plymouth, New Hampshire, is a charming city that attracts visitors with its picturesque landscapes, quaint shops, and outdoor activities. Here are the neighborhoods that generate the most Airbnb revenue and why they are appealing to guests:
Main Street and Historic District
- Appeal: These areas offer a blend of historic charm and modern amenities. Guests can walk to local shops, restaurants, and historic sites, providing a unique and authentic experience.
- Features: Well-kept properties with modern amenities like central heating, high-speed internet, and cozy furnishings are highly sought after in these neighborhoods.
Scenic Lake and Mountain Areas
- Appeal: Properties near scenic lakes or mountains are highly desirable due to their picturesque views and access to outdoor activities such as hiking, fishing, and boating.
- Features: Guests are drawn to the serene and nature-filled environment, making these locations ideal for a relaxing vacation.
Downtown Plymouth
- Appeal: Being in the heart of the city, downtown Plymouth offers easy access to local attractions, dining options, and community events.
- Features: Properties here often come with the convenience of being close to amenities while still providing a peaceful and scenic getaway.
Key Factors Contributing to Revenue
- Seasonality: Peak travel seasons from June to September significantly boost bookings, with the shoulder seasons of spring and fall also seeing decent visitor numbers.
- Regulations: Adherence to local regulations, such as mandatory property registration and rental permits, is crucial for maintaining a successful Airbnb operation.
- Property Management: Professional management services can optimize bookings, handle guest communication, and ensure properties are well-maintained, which is essential for high revenue generation.
These neighborhoods in Plymouth, New Hampshire, offer a combination of natural beauty, historic charm, and modern amenities, making them highly appealing to guests and lucrative for Airbnb investors.
Furnishing and Design Tips for an Inviting Airbnb in Plymouth, New Hampshire
Defining Your Property's Aesthetic
- Align your property's aesthetic with Plymouth's charming and scenic atmosphere. Focus on elements that reflect the city's natural beauty and historic charm.
Bedroom Furnishings
- Use a bed with a nice headboard to create a cozy and inviting atmosphere. Avoid storage beds to minimize operational hassles.
- Ensure the mattress is at least 8” thick and consider using memory foam for durability and comfort. Use a mattress case to protect the mattress.
- Provide ample lighting with floor lamps and table lamps, which can also serve as design features.
- Use white bedding sets for a clean and comfortable look. Add a simple throw pillow to enhance the bed's appearance.
Living and Common Areas
- Incorporate arts and a thick area rug to add colors, patterns, and warmth to the room.
- Include universal phone chargers, outlet converters, and other convenient amenities to cater to diverse guests.
Kitchen Essentials
- Equip the kitchen with necessary items such as plates, bowls, cups, glasses, utensils, cutleries, a can opener, pots, pans, cooking utensils, and a toaster and kettle.
Bathroom Essentials
- Provide a hair dryer, bath towels, hand towels, hand soap, shampoo, conditioner, body wash, toothpaste, mouthwash, disposable toothbrushes, and extra toilet papers. Ensure there are hooks on the door for hanging items.
Additional Amenities
- Offer iron and ironing board or a steamer, hangers for each closet, and a trash can in each room for convenience.
- Consider adding a yoga mat, speaker for music, Chromecast, and a safe for guests' valuables.
Seasonal and Local Touches
- Reflect the seasonal changes in Plymouth by adjusting decor and amenities accordingly. For example, provide warm and cozy elements during winter and lighter, more airy decor during summer.
- Highlight the local charm by incorporating elements that reflect Plymouth's outdoor activities such as hiking, fishing, and boating. This could include nature-inspired decor or informational materials about local attractions.
Durability and Maintenance
- Choose furniture that is durable and easy to maintain. Consider the operational aspects of each piece to ensure it does not become a hassle for you or your guests.
Compliance with Local Regulations
- Ensure that your furnishings and amenities comply with Plymouth's short-term rental regulations, including any specific requirements for safety and guest capacity.
Discover Plymouth, New Hampshire: Local Attractions and Insider Tips
Local Attractions
Outdoor Adventures
- Tenney Mountain Ski Resort: Enjoy skiing and snowboarding with over 40 trails, a favorite among locals and visitors alike.
- Newfound Lake: Perfect for swimming and water activities during the warm summer months.
- Polar Caves Park: Explore nine granite caves and an animal park with deer and ducks, located in nearby Rumney.
- Flume Gorge: Hike, camp, and bike through this 800-foot-long gorge, known for its unique geological formations.
- Squam Lakes Natural Science Center: Learn about local animals and plants, and enjoy swimming and hiking at Squam Lake.
Cultural and Historical Sites
- The Flying Monkey Movie House and Performance Center: Catch live performances, including music, plays, and community events in this historic 1920s theater.
- Silver Center for the Arts: Part of Plymouth State University, this center hosts comedy shows, plays, and recitals.
- Museum of the White Mountains: Located at Plymouth State University, this museum offers insights into the history, culture, and environment of the area.
- Plymouth Historical Museum: Explore the town's history and visit the Russell House, the oldest standing residential building in Plymouth.
Nature and Parks
- Fox Pond Park: Enjoy outdoor activities and scenic views at this local park.
- Langdon Park and Walking Trails: Take a stroll through the trails and enjoy the natural beauty of the area.
- Walter-Newton Natural Area: A great spot for hiking and exploring the local flora and fauna.
- Sutherland Hiking Trail: Hike up Plymouth Mountain for panoramic views.
Unique Experiences
- Sculptured Rocks Natural Area: Visit this unique area filled with sharp and steep rock formations, perfect for hiking and swimming.
- Ice Castles: Located in North Woodstock, experience hand-carved ice sculptures and structures during the winter months.
- Weirs Beach GoKart Track: Enjoy go-kart racing for a fun and adrenaline-packed activity.
Insider Tips
Dining
- Biederman’s: A must-visit pub and sub spot, known for its cozy atmosphere and delicious eats. Try the Balboa sandwich.
- Main Street Eateries: Explore a variety of locally-owned restaurants, from sports pubs to upscale bistros, and enjoy outdoor seating or takeout by the river.
Shopping
- Main Street Shops: Stroll through Main Street and discover locally-owned businesses offering elegant clothing, NH artistry, affordable jewelry, and handcrafted soap.
Events and Entertainment
- Theatre Productions and Live Music: Check out the events calendar for theatre productions, karaoke nights, live music, trivia nights, and open mic events.
- Boy Scout Fountain on the Common: One of only two Boy Scout Fountains in the USA, a unique spot to visit.
Accommodation Tips
- Cozy Inns to Budget-Friendly Hotels: Plymouth offers a range of accommodations, including cozy inns, budget-friendly hotels, and unique Airbnbs to suit every need.
By sharing these local attractions and insider tips, you can help your Airbnb guests make the most of their visit to Plymouth, New Hampshire.
Practical Tips to Run a Successful Short Term Rental Business in Plymouth, New Hampshire
To ensure a smooth and profitable short-term rental business in Plymouth, New Hampshire, several practical tips can make a significant difference. Here are some key considerations:
Noise Regulations and Quiet Hours
Inform your guests about noise regulations and quiet hours to maintain a peaceful environment for both your guests and the local community. Clearly communicate these rules in your listing and provide a reminder in your digital and physical house manual.
Comprehensive House Manual
Create a detailed digital and physical house manual that includes essential instructions, Wi-Fi passwords, and other important information. This manual should cover everything from how to use appliances to emergency contact details, ensuring your guests have a hassle-free stay.
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 parking instructions accompanied by photos to avoid any confusion.
By adhering to these tips, you can enhance guest satisfaction, reduce potential issues, and ensure your short-term rental business in Plymouth, New Hampshire, operates efficiently and compliantly with local regulations.
Here is a brief list of house cleaning, repair, or maintenance providers in Plymouth, New Hampshire:
House Cleaning Providers
Great Northern Cleaning
- Offers house cleaning, maid services, window cleaning, carpet and upholstery cleaning, and more.
- Provides trained, uniformed personnel with background security checks.
- Locations in Laconia and Plymouth, NH.
Other House Cleaning Services
Various Housekeepers Listed on Care.com
- A list of individual housekeepers available for hire in Plymouth, NH, with an average rate of $18.30 per hour.
Top 10 Best House Cleaners on Angi
- A list of house cleaning services in Plymouth, NH, with reviews and ratings. Services vary by provider but often include standard, deep, and move-in/move-out cleaning.
Additional Services
M and M Cleaning
- Offers cleaning and maid services, as well as carpet and upholstery cleaning.
Short-Term Rental Management Fees in Plymouth, New Hampshire: A Comprehensive Guide
In Plymouth, New Hampshire, managing short-term rentals involves a range of fees that can vary significantly based on the level of service provided. Typically, short-term rental management fees range from 10% to 30% of the rental revenue. Full-service management, which includes guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often starting at around 15% to 20% of revenue.
Basic services, such as booking management and minimal support, may incur lower fees. Additionally, hosts may need to consider extra fees for cleaning, repairs, and design services. For instance, companies like Summer and Awning charge fees starting at 20% and 15% respectively, with variations based on property size, type, and location. Understanding these fee structures is crucial for hosts to optimize their rental income and ensure compliance with local regulations.