The short-term rental market in Saco, Maine is thriving, with a median occupancy rate of 66%, an average daily rate of $230, and an average annual host income of $61,000, indicating a highly stable and profitable investment opportunity.
Thriving Short-Term Rental Market in Saco, Maine
Saco, Maine, is experiencing a robust and profitable short-term rental market. With a median occupancy rate of 66% and an average daily rate of $230, hosts in Saco are seeing significant returns on their investments. A typical short-term rental listing is booked for 241 nights per year, generating an average annual revenue of $61,000. This strong demand, particularly during peak months like August, makes Saco an attractive location for investors in the vacation rental sector. The city's lenient regulations and high occupancy rates contribute to its stability and profitability, making it an ideal place to invest in short-term rentals.
Short-Term Rental Regulations in Saco, Maine for 2024
Existing Regulations
Applicability and Exclusions
- The seasonal rental ordinance applies to single-family, two-family, and multifamily dwelling units in designated areas, specifically east of Seaside Avenue and Camp Ellis Avenue and areas within 400 feet to the west of the center line of these streets.
Minimum Rental Period
- Rentals of dwelling units for periods shorter than six days are prohibited. Dwellings must be rented out for periods of at least six days.
Occupancy and Family Restrictions
- Dwellings can be occupied by only one family during each rental period.
Licensing Requirements
- Any person or entity renting out dwelling units for seasonal periods must secure a seasonal rental license from the Code Enforcement Officer.
Compliance and Inspections
- The Code Enforcement Officer must review all applications for seasonal rental licenses and ensure compliance with Fire Code, Building Code, and Life-Safety Code requirements.
Penalties for Non-Compliance
- Violations, such as renting on a per-day basis, are subject to fines ranging from $100 to $1,000 per day.
Proposed and Considered Regulations
Differentiation Between Hosted and Un-Hosted Rentals
- There is a proposal to differentiate between hosted (e.g., renting a room in the primary residence) and un-hosted (e.g., renting out an entire property) short-term rentals.
Distinction Based on Primary Ownership
- A distinction may be made between properties lived in by primary owners and rented out occasionally versus properties purchased solely for short-term rentals.
Monitoring and Compliance
- There is a focus on improving monitoring and compliance, with suggestions for more significant penalties for non-compliance to deter violations.
Software for Tracking Rentals
- The city is considering a free pilot program for software to track and monitor short-term rentals more effectively, in partnership with the Greater Portland Council of Governments (GPCOG).
Potential Caps and Restrictions
- While not yet implemented in Saco, neighboring cities like Portland are considering caps on the number of non-owner-occupied short-term rentals, which could influence future regulations in Saco.
Top Neighborhoods for Airbnb Revenue in Saco, Maine
1. Camp Ellis
- Appeal: Camp Ellis is highly appealing due to its unobstructed water views, proximity to Huot's restaurant and bar, and a bustling marina with wave runners and sailing trips. Guests can enjoy a chic, freshly renovated beach house in one of the best coastal neighborhoods of Southern Maine.
2. Beachside Areas (including Kinney Shores)
- Appeal: These areas are popular for their direct beach access, ocean views, and amenities like private decks and fully equipped kitchens. Guests can enjoy a relaxing beach vacation with easy access to local attractions and dining options.
3. Downtown Saco and River Walk Area
- Appeal: This area is attractive for its short walks to downtown Saco, the Amtrak station, and nearby shops, breweries, restaurants, and cafes. Guests also appreciate the direct access to the River Walk and the scenic views it offers.
4. Old Orchard Beach Adjacent Areas
- Appeal: Neighborhoods near Old Orchard Beach are popular due to their proximity to this iconic beach and its pier, as well as other solid restaurant options within a 5-10 minute drive. Guests enjoy the combination of beach activities and local amenities.
5. Marston's Marina Area
- Appeal: This area is appealing for its quiet neighborhood setting, footsteps from Marston's Marina, and a short drive to Saco beaches and Old Orchard Beach. Guests can relax in a private suite with a kitchenette, heated pool, and garden views.
These neighborhoods are highly rated for their location, cleanliness, and the variety of amenities they offer, making them top generators of Airbnb revenue in Saco, Maine.
Furnishing and Design Tips for an Inviting Airbnb in Saco, Maine
Measuring and Layout
- Start by measuring your rooms and planning the best layout to ensure ample space to move around and to preserve natural light sources.
Furniture Selection
- Choose timeless, sturdy pieces that align with your theme. Opt for solid beds with easy-to-clean surfaces and consider storage beds for extra space.
- Select sofas with washable covers, as they are easier to maintain than real or faux leather. A sofa bed can increase guest capacity and rental income.
- Use durable, lightweight chairs that are easy to move and opt for darker colors to hide stains.
Storage and Organization
- Incorporate smart storage solutions such as beds with drawers, wall hooks, pegboards in the kitchen, and stackable containers to keep the space tidy.
- Provide designated spots for guests' personal items, like luggage racks and shelves for toiletries and personal items.
Kitchen Essentials
- Equip the kitchen with essentials like a coffee maker, microwave, toaster, and kettle. Add extras such as a blender and sharp knives. Ensure there is ample space for food storage.
Comfort and Amenities
- Use high-quality, durable towels in neutral colors that can be bleached. Provide basic toiletries, a hairdryer, and a first-aid kit.
- Ensure there is good lighting and easy access to power outlets. High-speed internet is crucial, and consider a Wi-Fi booster for larger spaces.
Local Touches
- Reflect the local culture and natural beauty of Saco, Maine, by incorporating elements such as coastal or farmhouse-style furnishings. Use colors and decor that evoke a sense of calm and relaxation, such as blues and whites.
- Add local artwork, decorative items, or a guidebook with local recommendations to enhance the guest experience.
Functional Spaces
- Ensure each area of the property has a clear purpose, such as a well-defined reading nook, dining area, or relaxation spot.
- Consider adding smart home features like keyless entry, smart thermostats, or streaming devices to enhance guest convenience.
Lighting and Mirrors
- Use mirrors to make the space feel bigger and brighter. Choose mirrors with stylish frames for added style.
- Avoid light fixtures that resemble office lighting; instead, opt for warm and inviting lighting that complements the home's atmosphere.
Guest Amenities
- Stock up on essential items like toiletries, basic cooking ingredients, and a first aid kit. Leave some games, cards, and informative books to keep guests entertained.
- Ensure the property is free from personal clutter and valuables to make guests feel welcome and not intrusive.
Accessibility and Safety
- Consider making your Airbnb accessible to guests with disabilities by adding features like ramps, wide doorways, and grab bars in bathrooms.
- Install smoke detectors, carbon monoxide detectors, and ensure there is a safe for valuables if possible.
Final Touches
- Add plants to liven up the space and use scented candles or quality shampoo and soap to create a welcoming aroma.
- Use heavy-duty materials for rugs and avoid delicate items that may be easily damaged.
Discover Saco, Maine: Local Attractions and Insider Tips
Outdoor Attractions
- Ferry Beach State Park: A must-visit for families, featuring a beautiful ocean beach, nature trails, and a rare northern stand of tupelo (black gum) trees.
- Funtown Splashtown USA: Maine’s largest amusement and water park, offering rides, a lazy river, pools, and water slides.
- Aquaboggan Water Park: The state’s original water park with water slides, wave pools, bumper boats, and mini golf.
- Saco Heath Preserve: Over 1,000 acres of hiking trails, woodlands, and a half-mile boardwalk. Look out for Atlantic white cedar and local wildlife.
- Cascade Falls: A scenic waterfall just a short walk from the parking area, perfect for a quick visit.
- Camp Ellis Beach and Pier: A popular spot for fishing, and though the beach is eroding, it still offers scenic views and activities.
Indoor Attractions
- Saco Museum: One of Maine's oldest museums, featuring over 10,000 artifacts, paintings, sculptures, and vintage decor.
- Way Way Store: A nostalgic general store with vintage signs, a penny candy counter, and Gifford’s ice cream.
Entertainment and Dining
- Saco Drive-in: One of the state’s few remaining historic drive-in theaters, a great evening activity.
- Rapid Ray’s: A local landmark since 1953, offering a classic dining experience in downtown Saco.
- Run of the Mill Public House & Brewery: A local favorite for food and craft beer.
- Elements: Books Coffee Beer: A unique spot in Biddeford for books, coffee, and beer.
Insider Tips
- Beach Parking: For guests visiting the beaches in Biddeford, recommend stopping by the City Clerk’s Office to obtain a beach-parking pass.
- Local Events: Check out La Kermesse in Biddeford for Franco-American pride and heritage celebrations, and the River Jam Fest in September.
- Nature Trails: Encourage guests to explore the Saco Bay Trails, a system of pathways throughout the community.
- Water Activities: Suggest parasailing, jet ski rentals, paddleboarding, or kayaking in Old Orchard Beach for a full water sports experience.
- Historic Downtowns: Guide guests to the revitalized downtown areas of both Biddeford and Saco, which are designated Main Street Communities.
Additional Recommendations
- Microbreweries: Recommend visits to Banded Brewing in Biddeford and Run of the Mill Public House & Brewery in Saco for local craft beers.
- Fireworks: If visiting during summer, suggest catching the fireworks displays every Thursday night and on the 4th of July at Old Orchard Beach.
- Yoga and Wellness: Point guests towards local yoga studios and wellness spas for relaxation and rejuvenation.
By sharing these attractions and tips, you can help your guests make the most of their visit to Saco, Maine.
Practical Tips to Run a Successful Short-Term Rental Business in Saco, Maine
To ensure a smooth and enjoyable experience for both you and your guests, here are some practical tips for running a successful short-term rental business in Saco, Maine:
Noise Regulations and Quiet Hours
Inform your guests about the noise regulations and quiet hours in your rental agreement and house manual. Saco, like many other cities, has rules to maintain a peaceful environment, especially in residential areas. Clearly communicate the quiet hours and any specific noise restrictions to avoid complaints and potential fines.
Creating a Comprehensive House Manual
Develop both digital and physical house manuals that include essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact information. This manual should also outline house rules, including noise regulations, to ensure guests are well-informed and respectful of the property and neighborhood.
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 use the smart locks and ensure they have all necessary access codes before their arrival. This not only enhances guest convenience but also reduces the likelihood of key-related issues.
Parking Instructions with Photos
Include detailed parking instructions in your house manual, accompanied by photos to help guests understand where and how to park. This is particularly important in areas like Saco where parking can be limited, especially in popular neighborhoods like Ferry Beach and Camp Ellis.
By implementing these strategies, you can enhance the guest experience, reduce potential issues, and maintain a positive reputation for your short-term rental business in Saco, Maine.
Here is a brief list of house cleaning providers in Saco, Maine:
House Cleaning Providers in Saco, Maine
Green Clean Maine
- Offers routine (weekly, bi-weekly, monthly) and one-time deep cleaning services.
- Uses handmade, eco-friendly cleaning formulas.
- Provides fast, free, and personalized estimates.
Bee Friends Cleaners
- Specializes in move-in/move-out cleaning services.
- Covers deep cleaning of kitchens, bathrooms, dusting, vacuuming, and ensuring all surfaces are immaculate.
- Uses eco-friendly products and offers hourly rates with instant estimates available online and over the phone.
Pristine House Cleaning
- Offers recurring cleaning, deep cleaning, and specialty cleaning services.
- Ensures thorough and customer-friendly service, with the option to not be home during the cleaning.
- Highly rated by local customers.
East Coast Property Services LLC
- Although primarily based in Wells, ME, they serve surrounding areas including Saco.
- Provides recurring maid services, deep home cleaning, and move-in/move-out cleaning.
- Known for professional, trustworthy, and background-checked cleaners.
For additional options, you can also refer to local listings and reviews on platforms like Care.com, which lists multiple house cleaning services in Saco, ME.
Short-Term Rental Management Fees in Saco, Maine
In Saco, Maine, the fees for managing short-term rentals, such as those on Airbnb, typically range from 10% to 30% of the rental revenue, varying significantly based on the level of service provided. Full-service management companies, which handle comprehensive tasks including guest communication, marketing, and maintenance, usually charge on the higher end of this spectrum, often starting at 15% to 30% of the revenue.
In contrast, basic or half-service management, which leaves more responsibilities to the property owner, such as cleaning and guest communication, can start at a lower rate of around 10%. Additional fees may also apply for services like professional photography, pricing optimization, cleaning, repairs, or design enhancements. These fees are structured to reflect the specific needs and characteristics of the property, including its size, location, and the range of services required.