Reno, Nevada's short-term rental market is thriving, with an average 52% occupancy rate, a $207 daily rate, and $18,248 in monthly revenue, driven by strong tourism demand and effective regulatory management.
Thriving Short-Term Rental Market in Reno, Nevada
Reno, Nevada, is experiencing a robust and profitable short-term rental market. With a median occupancy rate of 62%, indicating that typical listings are booked for 226 nights a year, the city is attracting a steady stream of visitors. The average daily rate stands at $144, contributing to an average annual host income of $32,000. This strong demand, coupled with lenient short-term rental regulations, makes Reno an attractive and stable investment opportunity for property owners. The city's growing tourism appeal, facilitated by platforms like Airbnb and VRBO, further enhances its potential for short-term rental success.
Short-Term Rental Regulations in Reno, Nevada for 2024
Permit Requirements
- To operate a short-term rental, hosts must obtain a short-term rental permit from the City of Reno. This permit is required for rentals lasting less than 28 consecutive days.
Application and Documentation
- Applicants must submit a comprehensive package including proof of liability insurance, a detailed site plan showing the layout of the rental property, and a safety plan outlining fire, emergency exits, and compliance with life-safety codes.
Zoning Laws
- Short-term rentals must adhere to Reno's zoning regulations, which determine where such rentals can operate. Certain zones are designated for residential use, and rentals must comply with specific ordinances to maintain neighborhood character and integrity.
Distance and Proximity Requirements
- Short-term rentals must be at least 660 feet away from other residential units and at least 2,500 feet away from any resort hotels, as per Assembly Bill 363.
Occupancy Limits
- Occupancy is limited to two people per bedroom or a maximum of 10 people per unit.
Event Regulations
- Short-term rental properties must adhere to strict guidelines concerning events, including limits on the number and scale of social gatherings. Events must maintain a minimum distance from adjacent structures, and hosts may need special permits for larger gatherings.
Noise and Disturbance Regulations
- Reno has implemented noise ordinances that regulate the hours during which events can occur at short-term rentals. Excessive noise in the evenings and nights is restricted, and non-compliance can result in significant fines.
Display of Permit Number
- The unique permit number assigned to the short-term rental must be prominently displayed in all listings and advertisements to ensure verification and accountability.
Compliance with Community Rules
- Hosts must ensure their property complies with any community rules or HOA regulations pertaining to short-term rentals.
State Business License
- In addition to city permits, hosts must obtain a state business license to operate a short-term rental in Nevada, as mandated by Assembly Bill 363.
Enforcement and Penalties
- Failure to comply with these regulations can result in significant fines, and hosts are urged to clearly communicate these restrictions to guests to avoid conflicts and penalties.
Accessory Dwelling Units (ADUs)
- The use of ADUs for short-term rentals is subject to local rental regulations, including restrictions on duration and frequency of the rentals. ADUs must comply with specific codes and zoning requirements.
Top Neighborhoods for Airbnb Revenue in Reno, Nevada
1. Midtown Reno
- Appeal: Midtown Reno is highly appealing due to its central location, high walkability score of 93, and proximity to a variety of restaurants, coffee shops, bars, and museums. Guests love the urban vibe, with popular spots like Kauboi Izakaya, Magpie coffee, and Stremmel Gallery nearby.
- Amenities: Many rentals in Midtown feature luxurious amenities such as hot tubs, spacious outdoor areas, and fully equipped kitchens, making it ideal for both couples and larger groups.
2. Downtown Reno
- Appeal: Downtown Reno is a favorite among guests due to its vibrant atmosphere and easy access to the Riverwalk District. The area is filled with coffee shops, chic bars, restaurants, comedy clubs, and entertainment options like kayak/tube rentals and a movie theater.
- Amenities: Rentals here often include modern amenities like fully renovated historic homes, free parking, and high-speed Wi-Fi. The proximity to casinos, theaters, and shopping makes it a hub for activity.
3. Old Southwest (Newlands) Reno
- Appeal: This historic neighborhood is known for its tree-lined streets and friendly atmosphere. Guests appreciate the walkability and the close proximity to California Street, the airport, Nevada Art Museum, and the Truckee River.
- Amenities: Rentals in this area often feature charming historic homes with modern amenities, private outdoor spaces, and easy access to parks and nightlife.
4. Riverwalk District
- Appeal: The Riverwalk District is popular for its scenic views and active community. Guests enjoy the concerts, water activities, bike paths, and the variety of eateries and shops within walking distance.
- Amenities: Many rentals here are fully renovated historic homes with luxurious touches like plush bath towels, bathrobes, and hair dryers. The emphasis on cleanliness and guest safety is also a significant draw.
These neighborhoods are consistently highly rated and attract a significant amount of Airbnb revenue due to their prime locations, rich amenities, and the overall guest experience they offer.
Creating an Inviting Airbnb in Reno, Nevada: Design and Furnishing Tips
To make your Airbnb in Reno, Nevada, stand out and reflect the city's unique style, consider the following tips:
Entryway and First Impressions
- Ensure the entryway is welcoming and thoughtfully designed to make a positive first impression. Add elements like a stylish rug, a decorative vase, or a small console table to create a warm and inviting atmosphere.
Living Room
- Focus on creating a comfortable and conversational space. Use lighting control with lamps and dimmer switches to set the mood.
- Provide soft, clean blankets and pillows with different fill options to enhance comfort.
- Include occasional tables and a pouf for guests to place their drinks and rest their feet.
- Consider the layout to facilitate conversation and activities, such as swivel chairs and cozy reading nooks.
Kitchen
- Opt for a modern and clean look. Use a textured backsplash, such as handmade tiles, to add depth and contrast to smooth cabinets.
- Incorporate unique hardware, like brass fixtures, to enhance the aesthetic.
Bedroom
- Use high-quality bedding, preferably white, to give a clean and fresh appearance. Invest in a full and fluffy duvet insert.
- Provide bedside tables and lamps for each guest, including features like USB ports or wireless charging.
- Add blackout shades to cater to different sleep preferences.
- Emphasize the view if available, and use curtain panels to draw attention to it. Add wood nightstands and plenty of lamps and art to complete the room.
Textures and Dimension
- Mix different textures to create a multidimensional space. Combine smooth surfaces with soft or handmade elements, such as linen pillows next to wool pillows, or a rug with a framed tapestry.
Local and Modern Appeal
- Blend comfort with modern appeal by using rustic and contemporary designs that incorporate local elements. Neutral palettes with colorful accents can make the space both modern and inviting.
- Consider themed decor that reflects local culture or activities, such as air racing or outdoor recreation, to resonate with guests.
Outdoor and Additional Amenities
- If possible, include outdoor spaces for relaxation and entertainment, especially if located near waterfronts or scenic areas.
- Amenities like fireplaces, hot tubs, and access to outdoor activities can significantly enhance the guest experience.
Compliance and Community Considerations
- Ensure your design and furnishings comply with local regulations, particularly those related to noise, events, and community impact.
- Maintain good relations with the local community by adhering to noise ordinances and event guidelines.
Discover Reno, Nevada: Local Attractions and Insider Tips
Local Attractions
Cultural and Artistic Experiences
- Nevada Museum of Art: A must-visit for art enthusiasts, featuring a diverse collection of art from around the world.
- Pioneer Center for the Performing Arts: Catch a performance at this renowned venue, home to the Reno Philharmonic.
- Arts District: Explore the fun and funky arts scene just south of downtown Reno, filled with galleries, studios, and street art.
Outdoor Activities
- Lake Tahoe: Only a short drive away, offering pristine waters, hiking, mountain biking, and winter sports like skiing and snowboarding.
- Galena Creek Park: A nature lover’s paradise with extensive trails, stunning views of the Sierra Nevada Mountains, and a tranquil creek.
- Rancho San Rafael Park: A picturesque urban oasis with walking trails, green spaces, and the Wilbur D. May Arboretum and Botanical Garden.
- Reno Riverwalk: A vibrant urban escape along the Truckee River, featuring local restaurants, bars, boutiques, and scenic river views.
Historical and Educational Sites
- National Automobile Museum: Showcasing a vast collection of historic cars, including some of Elvis Presley's and other celebrities' vehicles.
- Fort Churchill: A historic landmark with a small walking path offering spectacular sunset views.
- Animal Ark: A unique wildlife sanctuary where you can observe exotic and endangered animals in a natural environment.
Entertainment and Leisure
- Midtown District: Known for its vibrant atmosphere, local shops, and community events.
- Riverwalk District: Enjoy live performances, dining, and shopping along the Truckee River.
- Greater Nevada Field: Catch a Reno Aces baseball game in downtown Reno.
Special Events
- Artown: A month-long arts festival in July featuring over 400 events, most of which are free.
- City of Reno Events: Check the Special Events Calendar for upcoming city events and activities.
Insider Tips
Getting Around
- Navigation: Reno is small enough to navigate easily, but large enough to keep you engaged. Use a map or local guides to explore the city thoroughly.
Local Favorites
- The Awful Awful Burger: Try this local burger joint, a Reno staple.
- Local Breweries and Restaurants: Explore the variety of local eateries and breweries along the Riverwalk District and Midtown area.
Seasonal Activities
- Winter Sports: Enjoy skiing, snowboarding, and other winter activities at Mt. Rose Ski Tahoe and Lake Tahoe during the winter months.
- Summer Strolls: Visit Rancho San Rafael Park or Galena Creek Park for a serene summer evening stroll.
Community Engagement
- Downtown Events: Take a stroll downtown during city-wide events to experience a plethora of activities and local culture.
By providing these attractions and tips, you can ensure your guests have a memorable and enriching experience in Reno, Nevada.
Practical Tips to Run a Successful Short Term Rental Business in Reno, Nevada
To ensure a smooth and successful short-term rental business in Reno, Nevada, several practical tips can be implemented. Here are some key considerations:
Noise Regulations and Quiet Hours
Inform your guests about the noise regulations and quiet hours to avoid disturbances and potential violations. Reno's ordinances strictly regulate noise levels, especially in residential areas, so it is crucial to communicate these rules clearly in your house manual and pre-arrival messages.
Comprehensive House Manual
Create both digital and physical house manuals that include detailed instructions on how to use appliances, Wi-Fi passwords, and other essential information about the property. This helps guests navigate the space easily and reduces the likelihood of misunderstandings or issues.
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 hosts. Additionally, provide clear instructions on how to access the property.
Parking Instructions
Include detailed parking instructions with photos in your house manual to help guests understand where and how to park. This is particularly important in areas with limited parking or specific parking regulations, helping to avoid potential fines or towing.
By adhering to these tips, you can enhance the guest experience, reduce potential issues, and ensure compliance with local regulations, thereby running a successful and hassle-free short-term rental business in Reno.
Here is a brief list of house cleaning providers in Reno, Nevada:
House Cleaning Services in Reno, NV
MaidPro Reno
- Offers personalized cleaning services, including weekly, bi-weekly, and one-time cleans.
- Uses a 49-Point Checklist™ to ensure thorough cleaning.
- Services include kitchen, bathroom, floor, and dusting specialties.
- Employees undergo background checks and are bonded and insured.
Reno’s Biggest Little Cleaning Company
- Provides residential and commercial cleaning services.
- Offers one-time, bi-weekly, and monthly cleaning, as well as move-in/move-out, window cleaning, and personal organizing services.
- Also provides exterior cleaning, routine housekeeping, and special event cleaning.
Molly Maid of Reno Sparks
- Offers residential and commercial cleaning services, including one-time and recurring cleans.
- Customized cleaning plans with no contracts.
- Services include floor cleaning, dusting, and washing/sanitizing of surfaces.
- Covers areas including Reno, Sparks, Carson City, and more.
Merry Maids of Reno
- Provides comprehensive home cleaning services with 40 years of experience.
- Offers free estimates and uses advanced cleaning techniques.
- Helps restore balance to your space and enhance your life by handling housekeeping tasks.
Short-Term Rental Management Fees in Reno, Nevada: A Breakdown of Costs and Services
In Reno, Nevada, the fees for managing short-term rentals 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 those offered by Awning, charge fees starting at around 15% of revenue and can go higher, covering comprehensive services including guest communication, marketing, pricing optimization, and maintenance.
On the other hand, basic or half-service management options may charge lower fees, often starting at around 10%, but these services usually leave more of the day-to-day tasks, such as cleaning and guest communication, to the property owner.
Additionally, property owners may incur extra fees for specific services like cleaning, repairs, or design enhancements, which can add to the overall cost of managing their short-term rental properties. Understanding these fee structures and the included services is crucial for property owners to make informed decisions and maximize their rental income.