Airbnb & VRBO Performance in Waverly Ohio.

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Waverly, Ohio: Airbnb & VRBO Vacation Rental Market Overview

Waverly, Ohio, is showcasing promising short-term rental performance with an average 41% occupancy rate, a $216 daily rate, and an annual revenue potential of around $21,167, making it an attractive option for investors.

Market overview

Thriving Short-Term Rental Market in Waverly, Ohio

Waverly, Ohio, is emerging as a promising destination for short-term rental investments. Despite its relatively small market, Waverly shows robust performance metrics. According to recent data, short-term rentals in Waverly achieve an average occupancy rate of 41%, indicating a steady demand for vacation homes in the area. These rentals command an impressive average daily rate of $216, contributing to a monthly revenue of approximately $17,739. This combination of decent occupancy and high daily rates makes Waverly an attractive option for investors looking to capitalize on the growing short-term rental market.

Short Term Regulations

Short-Term Rental Regulations in Waverly, Ohio for 2024

General Requirements

  • Lodging Tax: All short-term rentals, including those listed on platforms like Airbnb and VRBO, are required to collect and remit lodging tax, effective January 1, 2024. This tax applies to all transient accommodations regardless of the number of rooms.

Registration and Compliance

  • Registration with County: Short-term rental owners must register their properties with Pike County and the auditor’s office. This involves submitting necessary information and forms, which can be found on the county tourism website and the auditor’s website.

Tax Obligations

  • Monthly Reporting: Registered short-term rental owners must submit a monthly report form with the previous month’s lodging tax collections. This process is similar to what hotels and motels have been doing since 1997.

Local Ordinances

  • Adherence to Local Regulations: While specific local ordinances in Waverly may not be detailed, it is crucial to comply with any regulations set by Pike County and the City of Waverly. This includes any zoning, safety, and building code requirements that may be applicable.

Safety and Operational Standards

  • Building, Safety, and Fire Codes: Although specific to Cincinnati, it is likely that similar requirements apply in other Ohio cities, including Waverly. Properties must be certified to conform to building, safety, and fire codes to ensure guest safety.

Community Adherence

  • Community Standards: Short-term rental owners should be aware of and adhere to community standards, such as noise regulations and parking rules, to maintain a positive relationship with local residents.

Additional Requirements

  • Emergency Contact Information: Providing up-to-date emergency contact information is a common requirement in many Ohio cities, ensuring guests have immediate assistance if needed.

By following these regulations, short-term rental owners in Waverly, Ohio can ensure they are in compliance with local and county laws.

Neighborhood Performance

Title: Top Neighborhoods for Airbnb Revenue in Waverly, Ohio, and Their Appeal to Guests

While specific neighborhood data for Waverly, Ohio, is not provided in the sources, we can infer some key points about the appeal of Waverly as a whole and what makes it attractive for Airbnb guests.

General Appeal of Waverly, Ohio

  • Location and Amenities: Waverly is likely appealing due to its general amenities and location. Here are some key points:
  • High Occupancy Rates: Waverly's short-term rentals have an average occupancy rate of 41%, indicating a consistent demand for accommodations in the area.
  • Amenities: Most listings in Waverly include amenities such as wireless internet, air conditioning, parking, and heating, which are attractive to guests.
  • Rental Types: The majority of listings are for entire homes, which often appeal to families and groups looking for more space and privacy.

Potential Neighborhoods (Inferred from General Data)

Since specific neighborhood data is not available, here are some general inferences based on typical factors that make areas appealing for Airbnb guests:

Downtown Waverly

  • Central Location: Guests often prefer central locations close to local shops, restaurants, and community events.
  • Accessibility: Being in the heart of the town makes it easier for guests to navigate and access various amenities.

Residential Areas Near Local Attractions

  • Proximity to Attractions: Areas close to local parks, historical sites, or other tourist attractions can be more appealing.
  • Family-Friendly: Neighborhoods with a family-friendly atmosphere and amenities like parks or playgrounds can attract families.

Areas with Scenic Views or Outdoor Activities

  • Natural Beauty: Neighborhoods offering scenic views or easy access to outdoor activities such as hiking or fishing can attract nature lovers.
  • Recreational Opportunities: Proximity to lakes, rivers, or other recreational spots can make an area more appealing to guests looking for outdoor adventures.

Why These Areas Are Appealing

  • Consistent Demand: The high occupancy rate of 41% suggests that guests find Waverly an attractive destination, likely due to its balance of amenities and location.
  • Variety of Listings: The mix of 1-bedroom, 2-bedroom, 3-bedroom, and larger homes caters to different types of guests, from solo travelers to families and groups.
  • Year-Round Availability: Many listings are available for 271-365 nights, indicating that Waverly is a viable destination year-round, not just seasonally.

While specific neighborhoods are not identified, these general factors suggest that areas in Waverly with central locations, proximity to attractions, and a range of amenities are likely to generate significant Airbnb revenue.

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Design Tips

Creating an Inviting Airbnb in Waverly, Ohio: Design and Furnishing Tips

Entryway

  • First Impressions Matter: Ensure the entryway is welcoming and thoughtfully designed. Add elements like a cozy rug, a small console table, and some decorative pieces to make guests feel special upon arrival.

Living Room

  • Lighting Control: Incorporate a mix of overhead lighting, lamps, and dimmer switches to provide guests with flexible lighting options.
  • Versatile Furniture: Use furniture with multiple functions, such as a coffee table that also serves as a workspace or snack area.
  • Comfortable Seating: Ensure there is enough seating for all guests, both around the dining table and in the living room. Consider adding poufs or additional chairs for comfort.
  • Cozy Textiles: Provide nice, soft blankets and pillows with various fill options to enhance the comfort and luxury of the space.

Dining Area

  • Seating for All: Make sure there is adequate seating at the dining table for the maximum number of guests the Airbnb can accommodate.
  • Avoid Dining Rugs: Omit rugs under the dining table to prevent them from getting worn out quickly.

Bedroom

  • Luxurious Bedding: Offer high-quality bedding and provide extra layers stored in the closet for guest convenience. Use ribbons to mark unused bedding for easy identification during turnovers.
  • Bedside Tables and Lamps: Ensure each bed has a bedside table and lamp, preferably with USB ports or wireless charging features.
  • Temperature and Lighting Control: Install ceiling fans or provide fans in each room for temperature control. Use blackout shades to cater to different sleep preferences.

Bathroom

  • Functional and Clean: Ensure the bathroom is well-maintained and functional. Update fixtures and add decorative elements that reflect the local style, such as natural wood accents or rustic charm.

General Tips

  • Attention to Detail: Pay attention to small details that make a big difference, such as providing hooks in various rooms for guests to hang their belongings.
  • Local Charm: Incorporate elements that reflect Waverly's unique style, such as using natural materials, rustic decor, and highlighting the scenic views of the area.
  • Guest Experience: Design the space with the guest's experience in mind. Create nooks for reading, ensure there are places to put drinks and snacks, and make the layout conducive to conversation and relaxation.

Additional Amenities

  • Fans and White Noise: Provide fans in each room and consider white noise machines to enhance the sleeping experience.
  • Full-Length Mirrors: Include full-length mirrors in the bedrooms and living areas for guest convenience.
  • Outdoor Spaces: If applicable, ensure outdoor spaces like decks or patios are well-maintained and inviting, with features like hot tubs, fire pits, or scenic views.
Insider Tips

Discover Waverly, Ohio: Local Attractions and Insider Tips

Local Attractions

Historical Sites and Museums

  • Pike Heritage Museum: Located in a former German Evangelical Church built in 1859, this museum showcases the history of Pike County from its early settlers to the present. Open Saturdays and Sundays from 1pm to 4pm.
  • Waverly Canal Historic District: Explore the remnants of the Ohio and Erie Canal, which played a significant role in the development of Waverly and southern Ohio.
  • Native American Mounds in Piketon: Visit the mounds that are part of the rich Adena heritage in the area.

Unique Attractions

  • Dogwood Pass Old West Town: A family-friendly living history museum featuring an old west town with a chapel, jail, saloon, and live performances. Also home to the Roy Rogers Memory’s Museum.
  • Bristol Village Railroad Museum and Model Train Depot: Enjoy expansive model train displays and learn about the history of the railroad at this museum organized by the Scioto Valley Model Railroad Club. Open Mondays from 1-3pm.

Industrial and Scientific History

  • Portsmouth Gaseous Diffusion Plant Virtual Museum and Public Tours: Learn about the history of the plant through a virtual museum and participate in guided tours of the site on the third Saturday of each month from July to October.

Insider Tips

Local Experiences

  • Visit the Veterans Memorial in Canal Park: A great spot to relax and appreciate the local history and scenery.
  • Explore Diner 23: A local diner that offers a nostalgic experience reminiscent of days gone by.

Community and Culture

  • Smell the Flowers at Bristol Village Retirement Facility: Take a moment to enjoy the beautiful gardens and floral arrangements.
  • Learn About Tecumseh: Discover the history of the Shawnee leader Tecumseh, who was born near Waverly and is a significant figure in American history.

Practical Information

  • Garnet A. Wilson Public Library: A useful resource for guests looking to learn more about the local area or needing access to public facilities.
  • Local Events and Festivals: Check the local event calendar for fairs, festivals, and other community activities that can enhance your guests' stay.

Additional Tips for Airbnb Hosts

  • Provide Local Maps and Guides: Offer maps and guides that highlight the local attractions and historical sites.
  • Recommend Local Restaurants and Bars: Suggest places like Diner 23 and other local eateries for a genuine Waverly experience.
  • Arrange for Private Tours: Help guests schedule private tours at attractions like the Bristol Village Railroad Museum and the Portsmouth Gaseous Diffusion Plant.
  • Highlight Outdoor Activities: Inform guests about the hiking trails, parks, and other outdoor recreation opportunities available in and around Waverly.
Practical Tips

Practical Tips to Run a Successful Short-Term Rental Business in Waverly, Ohio

To ensure the success and smooth operation of a short-term rental business in Waverly, Ohio, several practical tips can be implemented. Here are some key considerations:

Noise Regulations and Quiet Hours

Familiarize yourself with local noise regulations and inform your guests about quiet hours to maintain a peaceful environment and avoid potential fines or complaints. Include this information in both your digital and physical house manual.

Digital and Physical House Manual

Create a comprehensive house manual that includes essential instructions, Wi-Fi passwords, and other important details. This manual should be both digital, accessible through a shared document or app, and physical, placed in a convenient location within the property.

Simplified Check-in Process

Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide clear instructions on how to use the smart locks, along with photos and videos to ensure a smooth arrival experience.

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 can prevent confusion and potential issues with neighbors or local authorities.

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 Waverly, Ohio.

Local Vendors

Here is a brief list of house cleaning providers in Waverly, Ohio:

House Cleaning Services

  • Sparkle Cleaners Inc
  • So Clean Cleaning Services
  • Tri County Cleaning Services
  • Highlands Cleaning Services (also known as Sunshine Cleaners)
  • Local house cleaners listed on Angi
  • Includes various individual and company listings reviewed by users.
  • House cleaning services listed on Care.com
  • Features affordable options with detailed profiles.

Note

There are no specific repair or maintenance providers listed in the sources provided, but these sources focus primarily on house cleaning services. For repair or maintenance services, additional research may be necessary.

Management fees

Short-Term Rental Management Fees in Waverly, Ohio: A Comprehensive Guide

In Waverly, Ohio, 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 comprehensive tasks such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum, often falling between 25% to 30% of the rental income. For more basic services, the fees can be lower, usually around 10% to 20%. Additionally, property owners may incur extra fees for services like 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

Short Term Rental Calculator

Find out how much your property in Waverly should generate as a short term rental and look at the performance of properties around yours.

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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 Waverly.

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 Ohio