Airbnb & VRBO Performance in Thomson New York.

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Thomson, New York: Airbnb & VRBO Vacation Rental Market Overview

markdownDespite challenges in the broader U.S. market, the late fall season is showing promising signs of recovery for short-term rentals, with occupancy rates and revenues expected to stabilize and potentially return to pre-pandemic trends.

Market overview

Positive Trends in Thomson, New York's Short-Term Rental Market Despite Broader Challenges

While the broader U.S. short-term rental market has faced challenges, particularly with the impact of new regulations in major cities like New York City, the performance in areas like Thomson, New York, shows promising signs. Although specific data for Thomson is not available, the general trends in the late fall season suggest a rebound. Nationally, calendar occupancy for short-term rentals is pacing ahead of last year, with October and November showing a 1% and 2% increase in occupancy, respectively, compared to 2023.

In terms of pricing, average daily rates (ADR) have remained relatively stable, with a slight increase of $8 per night in October and November compared to the previous year. This stability and slight growth indicate that the market is adjusting to the balance between supply and demand, offering a positive outlook for property managers and hosts in regions like Thomson, New York.

Short Term Regulations

Short-Term Rental Regulations in New York State (Applicable to Thomson, NY) for 2024

While the specific regulations for Thomson, NY, are not detailed in the sources, the broader New York State and New York City regulations provide a comprehensive framework that is likely to apply or influence local rules. Here are the key regulations:

Registration Requirements

  • Hosts must register their properties with the relevant authorities. In New York City, this is done through the Mayor’s Office of Special Enforcement (OSE).
  • For areas outside New York City, a statewide registry may be implemented, requiring hosts to register their properties with the Department of State every two years.

Occupancy Standards

  • Only properties with a valid certificate of occupancy for permanent residential purposes can be rented out.
  • In New York City, only hosted short-term rentals with up to 2 guests are allowed in Class A multiple dwellings, though proposed legislation (Bill INT 1107) aims to increase this to four adult boarders and their children.

Primary Residence Clause

  • Rentals are generally limited to primary residences, preventing commercial operators from running unregulated hotels.

Duration Limits

  • Renting out entire homes or apartments for less than 30 days is prohibited unless the primary resident is present in New York City. Proposed legislation may relax this restriction.

Safety and Zoning Regulations

  • Properties must adhere to safety and zoning regulations, including building codes and fire safety guidelines.

Tax Responsibilities

  • Hosts must collect and remit sales and occupancy taxes on short-term rentals. This tax will be borne by the renters.

Penalties for Non-Compliance

  • Violations can result in fines ranging from $1,000 to $7,500 per violation.

Local Restrictions

  • Local municipalities may have additional restrictions, such as bans on short-term rentals in certain areas or limits on the number of days properties can be rented out per year.

Reporting Requirements

  • Under the proposed statewide registry, hosts must report the availability and activity of their rental properties monthly, including the location, type of listing, and occupancy nights.

These regulations are designed to protect the housing stock, maintain residential zones, and address concerns about the impact of short-term rentals on local communities and the housing market.

Neighborhood Performance

Title: Top Neighborhoods for Airbnb Revenue in the Hudson Valley and Ulster County, New York

While the specific data for Thomson, New York, is not provided in the sources, the following neighborhoods in the broader Hudson Valley and Ulster County area are notable for generating significant Airbnb revenue and their appeal to guests:

1. Woodstock, Ulster County

  • Average Monthly Revenue: $3,337
  • Appeal: Woodstock is known for its artistic and cultural vibe, beautiful natural scenery, and historic sites. It attracts guests looking for a unique blend of tranquility and cultural experiences.

2. New Paltz, Ulster County

  • Average Monthly Revenue: $3,008
  • Appeal: New Paltz is a charming college town with a rich history, scenic hiking trails, and a vibrant downtown area. It is popular among students, families, and those seeking a mix of rural and urban amenities.

3. Saugerties, Ulster County

  • Average Monthly Revenue: $2,258
  • Appeal: Saugerties offers a blend of historic charm and natural beauty, with attractions like the Saugerties Lighthouse and the Catskill Mountains. It is appealing to guests looking for a relaxing getaway with easy access to outdoor activities.

4. Bearsville/Woodstock, Ulster County

  • Average Monthly Revenue: High potential, with a 4-bedroom home generating significant returns
  • Appeal: This area is known for its picturesque landscapes, proximity to Woodstock, and a variety of outdoor activities. It attracts families and groups seeking spacious accommodations in a scenic setting.

5. Kingston, Ulster County

  • Average Monthly Revenue: $2,219
  • Appeal: Kingston is the county seat of Ulster County and offers a mix of historic sites, cultural events, and easy access to the Hudson River. Guests are drawn to its urban amenities and the nearby natural attractions.

These neighborhoods are part of the Hudson Valley and Ulster County, which have been identified as highly profitable areas for Airbnb hosts due to their unique blend of natural beauty, cultural richness, and tourist attractions.

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Design Tips

Tips for Furnishing and Designing an Inviting Airbnb in Thomson, New York

1. Choose Durable and Easy-to-Clean Furniture

  • Opt for solid wood over particle board and select furniture with easy-to-clean surfaces. For unavoidable fabric items like sofas, use ScotchGuard and consider leather or wipeable materials.

2. Ensure Functional and Purposeful Furniture

  • Avoid unnecessary decor and furniture. Each piece should serve a purpose and be useful. For example, use cabinets under TVs for storage and replace nightstands with small accent tables.

3. Focus on the Bedroom for Comfort

  • Prioritize the bedroom by providing a good mattress (at least 8” thick), soft sheets, new pillows, and quality bedding. Avoid storage beds to prevent guests from leaving items behind.

4. Select Furniture That Fills the Space Appropriately

  • Ensure main furniture pieces fit the room's dimensions. For high ceilings, use taller pieces and mirrors to fill walls. This helps create a complete and cozy atmosphere.

5. Opt for Modular and Multifunctional Furniture

  • Use sectionals with moveable ottomans, pull-out sofas, and coffee tables with lift mechanisms to maximize space and accommodate more guests.

6. Prioritize Lighting

  • Provide a mixture of private and social lighting. Use floor lamps, table lamps, and ensure there is ample lighting for various activities like reading or working.

7. Maintain a Neutral and Minimalistic Decor

  • Keep the decor neutral to appeal to a wide range of guests. Remove personal items and cut down on unnecessary furniture to create a clean and functional space.

8. Use Performance Fabrics for Upholstery

  • Choose durable and performance-oriented upholstery fabrics that can withstand everyday wear and tear. Avoid delicate materials like silk and linen.

9. Add Luxurious Touches with Arts and Rugs

  • Include arts and area rugs to add color and pattern to the room. A thick rug can add a luxury touch and keep guests' feet warm.

10. Ensure Accessibility and Safety

  • Select beds that are accessible to guests with mobility disabilities (ideally not exceeding 23 inches high). Mount TVs and secure large mirrors to the wall for safety and a cleaner look.

11. Pay Attention to Details and Aesthetics

  • Ensure all details, including soft goods, toiletries, and accessories, align with the aesthetic intent of the space. These details can enhance the overall guest experience.

12. Consider the Local Style and Heritage

  • Reflect the unique style of Thomson, New York, by incorporating local elements and decor that resonate with the city's heritage and charm.
Insider Tips

Title: Discovering Thompson, New York: Local Attractions and Insider Tips

Local Attractions

Thompson, NY (Watertown Area)

  • Thompson Park:
  • A historic city-owned park designed by Frederick Law Olmstead, featuring an 18-hole golf course, the New York State Zoo, playground, stone stairways, pavilions, tennis courts, walking and cycling trails, and an outdoor skating area.

Nearby Areas

  • Thompson's Lake Campground - Thacher State Park:
  • A popular camping ground with hiking and skiing trails, a boat launch site, and the Emma Treadwell Thacher Center offering exhibits and educational programs. Note the specific generator usage times and pet policies.

Hudson Valley Region

  • Thompson Pond Preserve:
  • A nature preserve at the foot of Stissing Mountain, known for its diverse wildlife, birding opportunities, and scenic views of Thompson Pond. Download a preserve map before visiting.

Insider Tips

Thompson Park

  • Reserve Picnic Areas: Book picnic areas in advance for gatherings.
  • Explore the Vortex: Visit the mysterious Thompson Park Vortex, a favorite among spooky enthusiasts.
  • Year-Round Access: The park is open from 7 a.m. to 9 p.m., year-round.

Thacher State Park

  • Boat Rentals: Available when the beach is open and lifeguards are present; call ahead for availability.
  • Generator Usage: Generators can be used from 9:00 a.m. to 11:00 a.m. and 5:00 p.m. to 9:00 p.m.
  • Pet Supervision: Ensure pets are supervised at all times and follow the park's pet policy.

Thompson Pond Preserve

  • Download Preserve Map: Get a map before visiting to navigate the trails and preserve effectively.
  • Birding: Bring binoculars for excellent birding opportunities.

Additional Tips for Guests

  • Vehicle Use Fees: Inform guests about potential vehicle use fees at state parks and the option to purchase an Empire Pass for unlimited day-use entry.
  • Local Events: Check local event calendars for any festivals, concerts, or activities happening during their stay.
  • Outdoor Gear: Recommend bringing appropriate outdoor gear such as hiking boots, bicycles, or skates to fully enjoy the local attractions.
Practical Tips

Practical Tips to Run a Successful Short-Term Rental Business in Thomson, New York

To ensure the success and smooth operation of a short-term rental business in Thomson, New York, several practical tips can be implemented:

Noise Regulations and Guest Communication

Informing guests about noise regulations and quiet hours is crucial to maintaining a positive relationship with neighbors and ensuring compliance with local laws. Include clear guidelines on quiet hours in your digital and physical house manual to avoid any misunderstandings.

Comprehensive House Manual

Create a detailed digital and physical house manual that includes essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact information. This manual helps guests navigate the property easily and reduces the need for frequent inquiries.

Simplified Check-in Process

Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with a unique access code and detailed instructions on how to enter the property. This approach enhances guest convenience and reduces administrative burdens.

Parking Instructions

Include parking instructions with photos in your house manual to help guests find and use the designated parking areas efficiently. Clear instructions can prevent confusion and potential parking issues, ensuring a smooth start to their stay.

By implementing these strategies, you can enhance the guest experience, reduce potential issues, and maintain a well-organized and successful short-term rental business in Thomson, New York.

Local Vendors

It appears there are no specific house cleaning, repair, or maintenance providers mentioned in the sources that are based in Thomson, New York. Here are some general services available in the broader New York area, but not specifically in Thomson:

House Cleaning Services

  • NYC House Cleaners: Offers various cleaning services including residential, office, deep cleaning, move in/out cleaning, and more in the New York City area, which includes Manhattan, Brooklyn, Staten Island, Bronx, and Queens.

Home Cleaning Services in Nearby Areas

  • Merry Maids: Provides comprehensive cleaning services in the Hudson Valley area, including Newburgh and Poughkeepsie, but not specifically in Thomson.

Note

Since Thomson, New York, is not explicitly mentioned in the sources, these services may not be directly available in that location. It would be necessary to search for local providers specific to Thomson.

Management fees

Short-Term Rental Management Fees in Thomson, New York: A Comprehensive Guide

In Thomson, New York, short-term rental management fees can vary significantly, typically ranging 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 between 25% to 30% of the monthly revenue. In contrast, basic services that may only include listing and booking management might cost less, usually around 10% to 15%. Additionally, property owners may incur extra fees for services such as cleaning, repairs, and design, which can add to the overall cost of managing their short-term rental properties.

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Why choose RedAwning

RedAwning is a tech leader in full-service short-term rental management, powered by our exclusive, unmatched tools.
Other property managers
Cost
Starting at 10%
25-40%
Guest communications
5-15 mins / 24 hours a day
1 hour+
Host communications
Dedicated phone and text line with no time on hold
Chat bots, hold lines and email threads
Insurance
Robust liability and dwelling coverage for every reservation
Spotty coverage with low claim approval rates
Contract
No cancellation fees
No contract lock-in
Just 90 days notice to cancel
Cancellation penalties
Number of Channels Your Listing is On
50+
2-4

Experience in numbers

Rest well knowing your property is managed by an experienced team powered by world-class technology.
+10-30%
in gross revenue
4.8 stars
guest rating
14+ years
managing STRs

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Furnishing checklist

This comprehensive checklist ensures that your rental is guest-ready with all the essentials to create a comfortable and memorable experience in Thomson.

Living Room
Seating: Sofa, armchairs, and ottomans
Coffee Table
Entertainment: Smart TV (with streaming apps) and remote control
Decor: Area rug, wall art, plants, and throw pillows
Lighting: Floor lamp or table lamps
Charging Stations: Power strips or outlets with USB ports
Bedrooms
Beds: High-quality mattress with mattress protector
Linens: At least two sets of sheets per bed
Pillows: Hypoallergenic pillows (2-4 per bed)
Blankets: Extra throw blankets or quilts
Nightstands: With lamps or charging docks
Closet or Storage: Hangers, dresser, or luggage rack
Blackout Curtains or Shades
Bathrooms
Towels: Bath towels, hand towels, washcloths (2 sets per guest)
Shower Curtain & Liner
Toiletries: Shampoo, conditioner, body wash, hand soap
Bathroom Essentials: Toilet paper, tissues, trash bin
Hairdryer
Mirror: Full-length or wall mirror
Dining Area
Dining Table: Seating for the maximum number of guests
Place Settings: Placemats or tablecloths
Centerpiece: Vase with flowers or decorative piece
Kitchen
Appliances: Refrigerator, microwave, toaster, coffee maker, kettle
Cookware: Pots, pans, baking trays
Utensils: Forks, knives, spoons, spatulas, tongs
Dinnerware: Plates, bowls, glasses, mugs (2 sets per guest)
Cutting Board & Knives
Basic Spices & Condiments: Salt, pepper, oil
Cleaning Supplies: Sponge, dish soap, paper towels, trash bags
Outdoor Space (if applicable)
Seating: Outdoor chairs, benches, or lounges
Table: For outdoor dining or drinks
Lighting: String lights or outdoor lanterns
Grill: With necessary utensils and instructions
Outdoor Trash Bin
Extras to Elevate Guest Experience
Welcome Basket: Snacks, water bottles, or wine
Guidebook: Local recommendations and house rules
Board Games or Books: Entertainment for guests
Umbrella & Flashlight
Iron & Ironing Board
Laundry: Washer, dryer, and detergent (if available)
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⇤ Airbnb Statistics for New York