The short-term rental market in Temple, Texas, is performing well, with a median occupancy rate of 57%, an average daily rate of $108, and an average annual host income of $22,000, making it a stable and profitable investment opportunity.
Thriving Short-Term Rental Market in Temple, Texas
The short-term rental market in Temple, Texas, is experiencing robust performance, making it an attractive destination for both hosts and investors. With a median occupancy rate of 57%, Temple's short-term rentals are in high demand, particularly during the peak summer months from June to August and the holiday season from November to January.
The average daily rate for these rentals stands at $108, contributing to a significant annual revenue of approximately $22,000 per typical host. This strong demand and lucrative revenue potential, coupled with the city's lenient regulations and central location, position Temple as a highly profitable and stable market for short-term rental investments. The city's growing population, affordable housing, and expanding local economy further enhance its appeal for real estate investors looking to capitalize on the thriving short-term rental sector.
Short-Term Rental Regulations in Temple, Texas for 2024
Requirements and Regulations
1. Short-Term Rental Permit
- Hosts must obtain a short-term rental permit for properties rented for fewer than 30 days.
2. Hotel Occupancy Taxes
- Hosts are required to collect and remit state (6%) and local (7%) hotel occupancy taxes.
3. Liability Insurance
- STR properties must be insured for their use as a short-term rental. Proof of insurance is required as part of the registration process.
4. Noise and Nuisance Compliance
- Hosts must comply with general noise ordinances and nuisance regulations.
5. Trash Ordinances
- Hosts must comply with trash ordinances.
6. Registration and Compliance
- Hosts must register their properties annually and ensure compliance with all Terms of Use requirements outlined by the city. This includes providing renters with copies of the Terms of Use.
7. Property Information and Owner Details
- The registration process requires details about the property, including location, number of bedrooms, and off-street parking spaces, as well as information about the property owner.
8. Occupancy Limits
- The maximum occupancy for short-term rentals is limited to two adults per bedroom.
9. Special Events
- Short-term rentals cannot be rented for the purpose of holding special events like weddings, conferences, or parties.
10. Zoning Restrictions
- While not explicitly mentioned as a permitted use in any zoning district, temporary uses could potentially include STRs, subject to certain limitations.
11. Safety Standards
- Hosts must ensure their properties comply with safety standards, including the presence of fire extinguishers, smoke detectors, and escape routes.
Enforcement and Compliance
- Temple does not have specific short-term rental regulations, but hosts are still required to comply with general business regulations, zoning restrictions, and safety codes. Enforcement may be less strict compared to cities with detailed ordinances.
Top Neighborhoods for Airbnb Revenue in Temple, Texas
1. Historic District
- This neighborhood is highly appealing due to its historic charm and modern amenities. Properties like the "Charming Historic Retreat - 30 Mins. to Magnolia!" and "Stylish historic DT APT w/cable & laundry" are highly rated for their location, cleanliness, and historic significance. The proximity to downtown Temple and the vibrant festival grounds adds to their attractiveness.
2. Downtown Temple
- Downtown Temple is a favorite among guests due to its vibrant atmosphere and close proximity to local attractions. Rentals such as the "Boho Tiny Home" and "Stylish historic DT APT w/cable & laundry" are praised for their location, allowing easy access to the festival grounds and the heart of the city.
3. Neighborhoods near Baylor Scott & White Medical Center
- Areas close to Baylor Scott & White Medical Center, such as the "Visiting Medical Bliss" and "Pool House close to Temple Baylor Scott & White," are highly sought after. These properties offer cleanliness, privacy, and convenience, especially for medical professionals and families visiting the medical center.
4. Eastern Historic District
- The Eastern Historic District, home to the "Boho Tiny Home," is appealing for its restored historic homes and modern features. The area's proximity to the festival grounds and downtown Temple makes it an attractive option for couples and those looking for a weekend getaway.
5. Cul-de-sac Neighborhoods
- Quiet cul-de-sac areas, such as the "Temple Cul-de-sac (30 min. to Magnolia & Baylor)," offer a safe and peaceful environment. These homes are well-located near major highways and attractions in Belton and Temple, making them ideal for families and those seeking a relaxed stay.
These neighborhoods are popular due to their unique blend of historic charm, modern amenities, and convenient locations, which cater to a variety of guest preferences and needs.
Furnishing and Design Tips for an Inviting Airbnb in Temple, Texas
Understand Local Appeal and Style
- Temple, Texas, is known for its central location, historic downtown area, and proximity to attractions like Lake Belton and the Czech Heritage Museum. Reflect this local charm in your design choices.
Choose Popular Amenities
- Ensure your Airbnb includes essential amenities such as free Wi-Fi, air conditioning, and parking. These are highly valued by guests in Temple.
Incorporate Comfort and Functionality
- Provide a well-equipped kitchen, as many guests prefer to prepare their own meals. Include modern appliances and ample counter space.
Emphasize Outdoor Spaces
- Offer outdoor spaces like patios or decks, which are highly desirable for guests who want to enjoy the local weather and scenery.
Blend Historic and Modern Elements
- Combine historic charm with modern touches. For example, use hardwood floors, smart TVs, and sleek lines to create a balanced aesthetic.
Ensure Cleanliness and Hygiene
- Maintain high standards of cleanliness, especially in kitchens and bathrooms. This is crucial for guest satisfaction and positive reviews.
Add Local and Rustic Touches
- Incorporate local and rustic elements such as nature-inspired artwork, vintage furnishings, and cozy textiles to reflect Temple's unique style.
Consider Family-Friendly Features
- If targeting families, include amenities like high chairs, travel cribs, or strollers. Family-friendly neighborhoods can also be a significant draw.
Enhance with Technology
- Install modern technology such as smart TVs, Keurig coffee makers, and reliable Wi-Fi to cater to both leisure and business travelers.
Focus on Guest Comfort
- Provide comfortable bedding and ensure the space feels private and cozy. This can include adding fireplaces or creating a welcoming atmosphere with decor.
Comply with Local Regulations
- Ensure your property complies with Temple's short-term rental regulations, including obtaining necessary permits and collecting hotel occupancy taxes.
Discovering Temple, Texas: Local Attractions and Insider Tips for Guests
Local Attractions
Historical and Cultural Sites
- Temple Railroad and Heritage Museum: Located in the historic Santa Fe Depot, this museum offers insights into Temple's railroad history and features rotating exhibits.
- Czech Heritage Museum and Genealogy Center: Explore the history and culture of Czech immigrants in Central Texas through artifacts and exhibits.
- Bell County Museum: Situated in nearby Belton, this museum showcases the history and cultural heritage of the area with permanent collections and rotating exhibits.
Outdoor Activities
- Lake Belton: A vast recreational lake ideal for boating, fishing, kayaking, and paddleboarding. Surrounding parks offer camping, picnicking, and swimming areas.
- Miller Springs Park & Nature Center: A 260-acre nature preserve with walking trails, overlooks, waterfalls, and wildlife viewing opportunities.
- Sammons Golf Links: An 18-hole public golf course set among rolling hills and oak trees, open year-round.
Arts and Entertainment
- Temple Symphony Orchestra: Enjoy top-class musical performances by up to 90 professional musicians from September to April at Temple College.
- Temple Civic Theatre: Catch a season of plays and musicals, and participate in local events like the Food and Toy Drive.
- Cultural Activities Center: An all-in-one arts facility hosting galleries, live music, performances, and various classes throughout the year.
Family Fun
- Lions Junction Family Water Park: A popular spot for families, offering a zero-depth pool, waterslides, and a lazy river.
Shopping and Dining
- Downtown Temple: Explore unique shops, antique stores, and local eateries. Enjoy the First Friday events with street music, live performances, and after-hours shopping.
- The Hub: A shopping staple featuring items from local vendors, including jewelry, clothing, and gourmet snacks.
Insider Tips
Best Times to Visit
- First Fridays: Downtown Temple transforms into a vibrant party with street music, live performances, and extended shopping hours.
Local Favorites
- Bird Creek Burger Co.: Known for savory burgers, a must-visit for foodies.
- Treno Pizzeria & Taproom: Enjoy artisan pizzas made to order.
Seasonal Events
- Nature in Lights at BLORA: A festive light display during the holiday season.
- Annual Christmas Parade: A beloved holiday tradition in Temple.
Additional Tips
- Temple Lake Park, Owl Creek, and Westcliff Park: Great spots for swimming and fishing around Lake Belton.
- Local Wineries & Craft Beer: Explore the local wine and craft beer scene for a unique tasting experience.
By sharing these attractions and insider tips, your guests will have a comprehensive guide to making the most of their visit to Temple, Texas.
Practical Tips to Run a Successful Short Term Rental Business in Temple, Texas
To ensure a smooth and successful short-term rental business in Temple, Texas, several practical tips can be invaluable. First, it is crucial to comply with local noise regulations by informing guests about quiet hours. This can be done through a clear communication in the listing and a reminder in the house manual, helping to avoid noise complaints and potential fines.
Creating a comprehensive digital and physical house manual is essential. This manual should include detailed instructions on how to use appliances, Wi-Fi passwords, and other important information about the property. This not only enhances the guest experience but also reduces the number of inquiries and issues.
Simplifying the check-in process is another key aspect. Utilizing smart locks eliminates the need for physical key exchanges, making check-in seamless and convenient. Additionally, providing detailed parking instructions accompanied by photos can help guests navigate the property easily, reducing confusion and stress.
By implementing these strategies, hosts can ensure compliance with local regulations, enhance guest satisfaction, and streamline the rental process, ultimately leading to a more successful and stress-free short-term rental business in Temple, Texas.
Here is a brief list of house cleaning services in Temple, Texas:
House Cleaning Services in Temple, TX
English Maids
- Provides residential and commercial cleaning services.
- Services Temple, Belton, Harker Heights, and surrounding areas.
- Employees are extensively trained, screened by national background checks, and bonded.
Two Maids
- Offers professional house cleaning services with experienced and trained staff.
- Team members undergo thorough training, background checks, and are fully bonded and insured.
Merry Maids
- Provides home cleaning services, including move-in/out cleaning.
- Serves Temple and surrounding areas.
- Offers free estimates for services.
For additional options, you can also refer to the following resources:
Care.com
- Lists multiple affordable house cleaning services in Temple, TX, with details on rates, reviews, and experience.
HomeAdvisor
- Compares and reviews various maid services in Temple, TX, based on homeowner feedback and costs.
Managing Short-Term Rentals in Temple, Texas: Understanding Management Fees
In Temple, Texas, managing short-term rentals involves navigating a range of fees associated with property management services. Typically, these fees 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 starting at around 20% of the revenue.
Basic services, such as handling bookings and tax compliance, may be less expensive but still fall within the 10%-20% range. Additionally, hosts may incur extra fees for cleaning, repairs, or design services to ensure their properties remain attractive and well-maintained for guests. These additional costs can vary but are often factored into the overall management fee structure or charged separately.