In Springfield, Missouri, short-term rentals are performing robustly, with an average 46% occupancy rate, a $124 daily rate, and a notable $10,689 in monthly revenue, alongside a 3% increase in total available listings over the past year.
Thriving Short-Term Rentals in Springfield, Missouri
Springfield, Missouri, is witnessing a robust performance in its short-term rental market. With an average occupancy rate of 46%, short-term rentals on platforms like Airbnb and Vrbo are experiencing significant demand. The average daily rate stands at $124, contributing to a substantial monthly revenue of $10,689. This strong performance is complemented by a growth in active listings, with an 8% increase over the past year. The market's stability and growth indicate a favorable environment for investors and hosts, making Springfield an attractive destination for short-term rental investments.
Short-Term Rental Regulations in Springfield, Missouri for 2024
Definition and Licensing
- A short-term rental is defined as the rental of a home or unit for a period less than 30 consecutive days.
Types of Short-Term Rental Licenses
- Type 1: Allowed in all zoning districts, for operator-occupied residences or historic carriage houses.
- Type 2: Allowed in R-SF or R-TH districts, for non-operator-occupied residences, legal accessory apartments, or historic carriage houses. Requires a special permit and a neighborhood meeting with at least 55% consent from adjacent property owners.
- Type 3: Allowed in all other zoning districts except R-SF and R-TH, for non-operator-occupied residences.
Licensing Fees and Requirements
- Application Fees:
- Type 1: $25 for a new business license, with renewal fees based on gross receipts.
- Type 2: $382 (includes Planning fee, BDS inspection fee, and licensing fee starting at $25).
- Business License: Required for all types of short-term rentals, with fees based on gross receipts (ranging from $25 to $105 per year).
Operational Requirements
- Neighborhood Meeting: Required for Type 2 rentals, involving property owners within 500 feet and any registered neighborhood associations.
- Service Agent: Type 2 and 3 properties must obtain and continually maintain a service agent business license and certificate of occupancy.
- Density Limitations: Type 2 short-term rentals are limited to one per eight residential structures on the block face in R-SF or R-TH districts.
Tax Compliance
- Sales Tax and Transient Guest Tax: Hosts must collect and remit sales tax and transient guest tax.
Building and Safety Standards
- Building and Fire Codes: Properties must comply with minimum construction, design, maintenance, habitability, health, and safety standards.
- Certificate of Occupancy: Required from the Building Development Services Department, ensuring compliance with building and fire codes.
Enforcement and Compliance
- Complaint-Based Enforcement: The city enforces regulations through a complaint-based system, with potential fines for operating without a license (up to $500 per day).
- Annual Audits: The city may conduct audits to ensure compliance with tax and licensing requirements.
Additional Requirements
- Residential Occupancy: Properties must comply with residential occupancy requirements, limiting the number of unrelated persons per dwelling unit based on zoning districts.
- Other Contracts and Rules: Hosts must adhere to other contracts or rules such as leases, co-op rules, HOA rules, or other rules established by tenant organizations.
Top Neighborhoods for Airbnb Revenue in Springfield, Missouri
1. Downtown Springfield
- Appeal: Downtown Springfield is a hub of activity, with guests drawn to its proximity to restaurants, bars, venues, and historic sites like Route 66 and Walnut Street. Properties such as the "WestBrick Luxury Loft" and "Historic Downtown Loft Apartment" offer luxurious amenities and easy access to local attractions.
- Popular Listings: WestBrick Luxury Loft, Historic Downtown Loft Apartment, Colorful Downtown Bungalow on Route 66.
2. Rountree Neighborhood
- Appeal: Known for its charming and historic homes, Rountree is a favorite among guests. It offers a mix of old-world charm and modern comforts, as seen in listings like "Pickwick Places 201 MSU/Rountree".
- Popular Listings: Pickwick Places 201 MSU/Rountree.
3. South Springfield
- Appeal: This area is praised for its safe neighborhoods and convenient location. Guests appreciate the proximity to the hospital district, Battlefield Mall, and Bass Pro Shops Wonders of Wildlife. Homes like the "5 Star Location" ranch-style house are highly rated for their family-friendly amenities.
- Popular Listings: 5 Star Location, Shadowood Suites - East.
4. Near Missouri State University (MSU) and Local Hospitals
- Appeal: Neighborhoods close to MSU, Mercy Hospital, and Cox Hospital are popular due to their central location and accessibility. Properties such as the "Central Bungalow" and "Madaline Cottage" are favored for their proximity to universities, hospitals, and local attractions.
- Popular Listings: Central Bungalow, Madaline Cottage, Queen City Getaway.
5. Historic C-Street and West End
- Appeal: This area is appealing for its historic charm and vibrant community. Guests enjoy the walking distance to venues like the Savoy and Firehouse No. 2, as well as various restaurants and shops. The "Historic C-Street - West End Loft #2" is a prime example.
- Popular Listings: Historic C-Street - West End Loft #2.
These neighborhoods are highly sought after due to their combination of convenient locations, historic charm, and modern amenities, making them ideal for a wide range of guests.
Tips for Furnishing and Designing an Inviting Airbnb in Springfield, Missouri
Understanding Your Space and Guests
- Measure and Plan: Measure your rooms to determine the best layout, ensuring ample space to move around and unobstructed natural light sources.
- Define Your Ideal Guest: Identify your target audience to tailor the design and furnishings to their needs and preferences.
Choosing the Right Furniture
- Opt for Timeless, Sturdy Pieces: Select furniture that is durable and easy to clean, such as solid beds with storage, sofas with washable covers, and sturdy dining tables.
- Space-Saving Furniture: Use furniture with multiple functions, like sofa beds, folding tables, and ottomans with hidden storage.
- Comfortable and Practical: Choose comfy, lightweight chairs and a sturdy desk for guests who need to work.
Enhancing the Ambiance
- Use Mirrors: Incorporate mirrors to make the space feel bigger and brighter.
- Add Plants: Include plants to liven up the space and add a touch of natural beauty.
- Lighting and Color Scheme: Ensure good lighting and select a color scheme that invokes the emotions your guests hope to feel during their stay.
Essential Amenities
- Kitchen Essentials: Equip the kitchen with a coffee maker, microwave, toaster, kettle, and basic cookware, utensils, and dinnerware.
- Bathroom Essentials: Provide high-quality, durable towels, a hairdryer, basic toiletries, and a first-aid kit.
- Technology and Connectivity: Ensure high-speed internet and consider a Wi-Fi booster for larger spaces. Install TVs in key rooms and ensure easy access to power outlets.
Storage and Organization
- Smart Storage Solutions: Use beds with drawers, wall hooks, pegboards, and stackable containers to keep the space tidy and organized.
- Designated Storage: Offer guests a designated spot for their personal items, such as a luggage rack.
Safety and Accessibility
- Safety Features: Install smoke detectors, carbon monoxide detectors, and a first aid kit. Consider a safe for valuables.
- Accessibility: Make your Airbnb accessible to guests with disabilities by incorporating features like ramps, wide doorways, and grab bars in bathrooms.
Budgeting and Planning
- Budget Based on Square Footage: Estimate your budget based on the square footage of the property and the level of furnishings needed (Basic, Mid-Tier, Luxury).
- Plan for Design and Project Management: Factor in costs for design and project management if you are not handling these tasks yourself.
Final Touches
- Decor and Amenities: Add unique decor items to give your property its own personality. Ensure the property is thoroughly cleaned before listing.
- Theme Consistency: Stick to your theme and ensure consistency in design elements, such as using the same brand of white linens to maintain a cohesive look.
Discover Springfield, Missouri: Top Attractions and Insider Tips
Attractions
Nature and Wildlife
- Wonders of Wildlife National Museum & Aquarium: A world-class museum and aquarium featuring stunning wildlife photography and a vast array of marine and terrestrial animals.
- Dickerson Park Zoo: Known for its elaborate habitats, animal encounters, and the opportunity to feed giraffes and goats. Don't miss the peacocks roaming freely around the zoo.
- Fantastic Caverns: The only ride-through cave in the U.S., offering a guided tram tour through impressive stalactites and stalagmites.
- Wild Animal Safari: Drive-through wildlife park where you can see various animals up close.
Outdoor Activities
- Springfield Botanical Gardens at Nathanael Greene Park: Free attraction featuring a Mizumoto Japanese Stroll Garden, walking trails, and the Dr. Bill K Roston Butterfly House (open April-October).
- Sequiota Park: Offers scenic walking trails, shaded picnic areas, and opportunities for fishing, birdwatching, and kayaking.
- Dogwood Canyon: Located about an hour and 15 minutes from Springfield, this park features tram tours, hiking, biking, and horseback riding through stunning Ozark landscapes.
Sports and Entertainment
- Springfield Cardinals AA Baseball: Catch a game at Hammons Field, home of the Springfield Cardinals minor league baseball team.
- Missouri Sports Hall of Fame: Explore over 4,000 items of sports memorabilia and exhibits honoring Missouri sports stars.
- Springfield Art Museum: Free admission to the city’s oldest cultural institution, featuring a variety of art exhibits and a notable sculpture outside.
Shopping and Culture
- Bass Pro Shops Outdoor World: The original and largest Bass Pro Shops, offering an extensive range of outdoor gear, aquariums, and the NRA National Sporting Arms Museum.
- Downtown Springfield: Enjoy a mix of eclectic shops, restaurants, antiques, art galleries, and live theatres. Don't miss the First Friday Art Walk.
- Route 66 Attractions: Visit the birthplace of Route 66, including the Visitor Information Center and the Best Western Route 66 Rail Haven Motel with its Elvis Presley room.
Insider Tips
Dining and Nightlife
- Mother’s Brewing Company: A great spot for beer enthusiasts with a massive selection and a grassy backyard perfect for family outings.
- Golden Girl Rum Club: Enjoy tropical-inspired cocktails and small plates in a lively atmosphere.
- Lindberg’s Tavern: The oldest tavern in Springfield, offering a unique brunch menu and Missouri beers.
Free and Budget-Friendly Activities
- Springfield Botanical Gardens: A free attraction with beautiful gardens and walking trails.
- Sequiota Park: Free admission to enjoy the park's trails, picnic areas, and outdoor activities.
- Springfield Art Museum: Free admission to explore the museum's art exhibits.
Local Events
- First Friday Art Walk: Every first Friday of the month, downtown Springfield transforms into an art gallery with local artists, food trucks, and more.
- Springfield Cardinals Games: Check the calendar for special events like $1 hot dogs and fireworks nights.
Unique Experiences
- Fantastic Caverns Bat Bar: Enjoy snacks and drinks inside the cave while exploring its natural wonders.
- Wilson’s Creek National Battlefield: Visit the site of the first major Civil War battle west of the Mississippi River.
By sharing these attractions and insider tips, you can help your guests make the most of their visit to Springfield, Missouri.
Practical Tips to Run a Successful Short Term Rental Business in Springfield, Missouri
To run a successful short-term rental business in Springfield, Missouri, several practical tips can help you navigate the city's regulations and enhance the guest experience.
Noise Regulations and Guest Communication
Ensure you inform your guests about the noise regulations in Springfield. Clearly communicate quiet hours and any other noise restrictions in your house manual and during the check-in process. This helps maintain a good relationship with neighbors and avoids potential complaints.
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 the city's regulations, including noise restrictions, to keep guests informed and compliant.
Simplified Check-in Process
Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with detailed instructions on how to access the property, along with photos to help them navigate any specific steps or features.
Parking Instructions
Include clear parking instructions in your house manual, accompanied by photos to help guests identify designated parking areas. This reduces the likelihood of parking issues and ensures a smooth arrival experience.
By following these tips, you can ensure your short-term rental business in Springfield, Missouri, operates smoothly, complies with local regulations, and provides a positive experience for your guests. Regularly updating your house manual and communication strategies will help you stay ahead and maintain a high level of guest satisfaction.
Here is a brief list of house cleaning providers in Springfield, Missouri:
House Cleaning Services
MaidPro Springfield, MO
- Offers expert home cleaning services with a 49-Point Checklist™.
- Provides flexible scheduling for weekly, bi-weekly, monthly, or one-time cleanings.
- Services include cleaning of kitchens, bathrooms, floors, and dusting, with customizable plans.
Davis Cleaning 417
- A full-service cleaning company serving Springfield, MO, and surrounding areas.
- Offers detailed cleaning services, including standard house cleaning, recurring cleaning, move out/in cleaning, and special event cleaning.
- Provides commercial cleaning services and has a satisfaction guarantee.
Daniella's Cleaning
- Offers professional and reliable cleaning services for homes and businesses.
- Uses a 59-point inspection to ensure high-quality cleaning.
- Provides commercial cleaning services and has a satisfaction guarantee.
- Known for giving back to the community by offering free house cleanings to cancer patients.
Maids of Honor
- A family-owned cleaning company with over 20 years of experience.
- Provides efficient and affordable cleaning services for homes and offices.
- Offers flexible scheduling and clear communication.
- Services include day-to-day office and deep residential cleaning.
These providers do not specifically offer repair or maintenance services, but they are reputable options for house cleaning in Springfield, MO.
Short-Term Rental Management Fees in Springfield, Missouri: A Guide to Costs and Services
In Springfield, Missouri, managing a short-term rental property can incur management fees that typically range from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often ranging between 20% to 30% of the rental income.
Basic services, such as lease-only or minimal management, may cost less, usually around 10% to 15% of the rental revenue. Additionally, property owners may need to consider extra fees for services like cleaning, repairs, or design enhancements, which can further impact the overall cost of managing a short-term rental property. Understanding these fee structures is crucial for property owners to effectively budget and maximize their returns on investment.