The short-term rental market in Yarmouth, Massachusetts, is thriving, with increased demand and revenue, high occupancy rates, and significant contributions to the local economy through tax revenues and infrastructure funding, despite some regulatory and community challenges.
Thriving Short-Term Rental Market in Yarmouth, Massachusetts
The short-term rental market in Yarmouth, Massachusetts, is experiencing a period of significant growth and success. This vibrant sector, driven by the area's appeal as a summer vacation destination, sees peak demand during the summer months from late May to early September. According to recent data, short-term rentals in South Yarmouth achieve an average occupancy rate of 57%, with an average daily rate of $358.
The market's performance is bolstered by the diverse range of properties available, including traditional Cape Cod cottages, modern condos, and larger homes, many of which offer unique amenities such as beach access, outdoor spaces, and family-friendly features. The revenue generated from these rentals is substantial, contributing notably to the local economy, including significant tax revenues that support essential infrastructure projects like wastewater programs.
Despite some community concerns and ongoing regulatory discussions, the overall outlook for short-term rentals in Yarmouth remains positive, with steady demand and increasing revenue, making it an attractive and lucrative option for property owners and investors.
Short-Term Rental Regulations in Yarmouth, Nova Scotia (not Massachusetts) for 2024
Key Regulations
- Registration Requirement:
All short-term rental operators must register their properties annually with the province, effective April 1, 2023. This registration confirms compliance with local municipality's Land Use Bylaw.
Primary Residence Requirement:
Short-term rental properties must be the operator's primary residence. However, operators can apply for a development agreement to have more than one unit on their lot or to live off the property.
Unit Limitation:
Only one dwelling unit per lot can be used as a short-term rental, unless a development agreement is obtained from the town council.
Definition of Short-Term Rentals:
Short-term rentals are defined as the use of a dwelling unit for commercial overnight accommodation for a period of less than 28 consecutive days.
Community Impact and Public Input:
The town is committed to a comprehensive review of short-term rentals as part of a broader community conversation on housing. This includes public input and the consideration of expanded short-term rental uses through development agreements.
Excise Tax and Revenue Use:
Short-term rentals generate revenue through a 6% excise tax, with 75% of this revenue earmarked for wastewater programs.
Compliance and Enforcement:
The town has measures in place to maintain the character of residential neighborhoods, including registration, inspection requirements, trash removal regulations, parking restrictions, and limitations on events and rentals. A new housing inspector has been hired to manage the increased workload associated with these rentals.
Sunset Clause Extension:
- The town is proposing to extend the expiration date of the sunset clause for Section 48, governing short-term rentals, from November 13, 2024, to November 30, 2026, to continue benefiting from short-term rental excise tax revenues while further studies are conducted.
Additional Considerations
- Public Database and Complaint Tracking:
There is a suggestion to create a public database to track rental properties and to use systems like OpenGov to track complaints and verify registration and tax compliance.
Large Scale Events:
- The town is discussing clear definitions and regulations for large-scale events held at rental properties to address interpretation and enforcement challenges.
Top Neighborhoods for Airbnb Revenue in Yarmouth, Massachusetts
1. South Yarmouth
- Appeal: South Yarmouth is highly appealing due to its proximity to beaches such as Nantucket Sound and Bass River beaches, which are just a short walk away. Guests also enjoy the close access to the Forest Road bike path leading to the Cape Cod Rail Trail, and the numerous top-rated restaurants and amenities within a few blocks.
2. West Yarmouth
- Appeal: West Yarmouth attracts guests with its central location to many attractions. It offers easy access to beaches, local golf courses, and the Cape Cod Trail. The area is also close to the Hyannis ferry for day trips to Martha's Vineyard and Nantucket, and provides amenities like kayaks, beach gear, and bikes for exploration.
3. Yarmouth Port
- Appeal: Yarmouth Port is favored for its quiet neighborhoods and scenic beauty. Guests can enjoy a 5-minute walk to cranberry bogs and access to various outdoor activities such as kayaking and biking. The area's peaceful atmosphere and proximity to beaches make it an ideal spot for relaxation.
4. North Yarmouth
- Although less frequently mentioned, North Yarmouth can still generate significant revenue due to its picturesque settings and access to local attractions. However, specific details on popular rentals in this area are less abundant compared to South and West Yarmouth.
Key Amenities and Features
- Beach Access: Many of these neighborhoods offer quick walks to local beaches, making them highly attractive for guests looking for a beach vacation.
- Outdoor Activities: Availability of kayaks, bikes, and proximity to bike trails and cranberry bogs enhance the appeal for guests who enjoy outdoor activities.
- Modern Amenities: Properties often come with modern amenities such as central AC, high-speed Wi-Fi, full kitchens, and private backyards with fire pits, which contribute to their popularity.
- Family and Pet-Friendly: A significant number of rentals in these neighborhoods are family-friendly and pet-friendly, making them suitable for a wide range of guests.
Creating an Inviting Airbnb in Yarmouth, Massachusetts: Design and Furnishing Tips
Understanding the Local Aesthetic
- Embrace a coastal and casual aesthetic that reflects the seaside atmosphere of Yarmouth.
- Use nautical themes, softened colors, and relaxed furnishings to create a warm and inviting ambiance.
Essential Features and Amenities
- Outdoor Spaces: Include patios or decks to allow guests to enjoy the sun and warm summer evenings.
- Beach Access: Properties with beach access or proximity to beaches like Parker River Beach and West Dennis Beach are highly desirable.
- Fully-Equipped Kitchens: Provide spacious kitchens with modern appliances for easy meal preparation.
- Cozy Fireplaces: Install fireplaces for comfort during cooler months.
Furniture and Decor Choices
- Natural Materials: Use wood, rattan, and linen to add to the local charm and comfort.
- Local Art and Decor: Incorporate vintage or coastal artwork to reflect the area’s history and culture.
- Lighting: Invest in lamps and dimmer switches to enhance the ambiance and provide lighting control.
Room-Specific Tips
Entryway
- Create a welcoming first impression with thoughtful entryway decor.
- Provide amenities like a welcome note, local information, and a clean, organized space.
Living Room
- Ensure the layout promotes conversation and guest comfort.
- Include soft, clean blankets, pillows with different fill options, and occasional tables for drinks.
- Consider adding a pouf or swivel chairs for versatility.
Bedroom
- Offer high-quality bedding with extra layers stored in the closet.
- Provide two bedside tables with lamps, each including USB ports or wireless charging features.
- Install blackout shades to cater to different sleep preferences.
Neighborhood Considerations
- Invest in properties close to the beach, such as the Bass River area, or in residential neighborhoods near local parks or community areas.
- Areas with easy access to restaurants and shopping can also enhance the guest experience.
Additional Amenities
- Recreational Equipment: Offer amenities like bikes, kayaks, or paddleboards to enhance the guest experience.
- Local Touches: Provide information about local events, attractions, and recommendations for exploring the area.
Maintenance and Cleanliness
- Ensure the property is absolutely spotless and ready for new guests.
- Maintain a tidy and cozy environment without clutter.
By following these tips, you can create an inviting Airbnb space in Yarmouth, Massachusetts, that reflects the city's unique coastal style and enhances the guest experience.
Discovering Yarmouth, Massachusetts: Local Attractions and Insider Tips
Local Attractions
Beaches and Water Activities
- Gray's Beach and Bass Hole Boardwalk: Enjoy breathtaking views of Nantucket Sound and Cape Cod Bay. The boardwalk is perfect for morning strolls or evening sunsets.
- Seagull Beach: Ideal for building sandcastles, sand sculptures, and a fun day in the waves.
- Bass River Beach: A great spot for picnics and family activities.
- Crab Creek: Midway between Cape Cod Bay and Nantucket Sound, this is a top spot for blue crabbing.
Museums and Historical Sites
- Captain Bangs Hallet House Museum: Explore the restored mansion of a 19th-century sea captain.
- Whydah Pirate Museum: Learn about the "golden age" of piracy and see pirate treasures.
- Edward Gorey House: Visit the home of the renowned illustrator, filled with his personal artifacts and works.
Family-Friendly Activities
- Pirates Cove Adventure Golf: Mini-golf with pirate-themed obstacles and a treasure hunt.
- Cape Cod Inflatable Park: Features bounce houses, obstacle courses, and slides for kids and adults alike.
- Skull Island Sports World: Offers mini-golf, go-kart tracks, and batting cages in South Yarmouth.
Outdoor and Nature Activities
- Cape Cod Rail Trail: A paved bike path that spans several towns, perfect for exploring the scenic beauty of Cape Cod.
- Yarmouth Port Conservation Area: A haven for birdwatchers and nature enthusiasts with various trails.
- Kayaking Tours: Explore Yarmouth's harbor and experience its maritime heritage.
Other Attractions
- Whale Watching: Take a cruise from nearby Hyannis for an unforgettable whale-watching experience.
- Deep Sea Charter Fishing: Several charters available, including Bass River Charters in South Yarmouth.
- Cape Cod Melody Tent: Catch a performance or concert during the summer season.
Insider Tips
Getting Around
- Yarmouth is narrow, making it easy to travel between the north and south sides of town. It's just a few minutes' drive from one side to the other.
Dining and Shopping
- Skipper Chowder House and Captain Parker's Pub: Recommended local eateries for seafood and pub fare.
- Main Street, Hyannis: Nearby shopping area with various stores and galleries.
Unique Experiences
- Drive along "Captains' Mile": View over 50 sea captain's houses, now private residences.
- Open-Air Concerts and Local Festivals: Enjoy these during the summer season.
Practical Information
- Parking at Gray's Beach: Free parking available at the small lot at the end of Center Street.
- Edward Gorey House Visits: Open from April to December, offering a unique glimpse into the life of the illustrator.
By sharing these attractions and tips, you can help your guests have a memorable and enjoyable stay in Yarmouth, Massachusetts.
Practical Tips to Run a Successful Short Term Rental Business in Yarmouth, Massachusetts
To ensure a smooth and successful short-term rental business in Yarmouth, Massachusetts, several practical tips can be implemented:
Noise Regulations and Quiet Hours
Inform your guests about the local noise regulations and quiet hours to maintain a harmonious relationship with the neighborhood. Clearly communicate these rules in your house manual and through pre-arrival messages to avoid any potential issues.
Comprehensive House Manual
Create 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 house rules, including noise regulations, to ensure guests are well-informed and respectful of the property.
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 of the entrance and any specific steps they need to follow.
Clear Parking Instructions
Include parking instructions with photos in your house manual to help guests navigate any parking restrictions or specific parking spots allocated for the rental. This can reduce confusion and potential parking issues, enhancing the overall guest experience.
By implementing these tips, you can enhance guest satisfaction, reduce potential conflicts, and ensure your short-term rental business in Yarmouth, Massachusetts, runs efficiently and successfully.
Here is a brief list of house cleaning providers in Yarmouth, Massachusetts:
House Cleaning Services in Yarmouth, MA
Merry Maids of Cape Cod
- Offers comprehensive cleaning services in Yarmouth, among other areas in Cape Cod.
- Backed by 40 years of experience.
MaidPro
- Provides expert home cleaning services with a 49-Point Checklist™.
- Available in South Yarmouth and other parts of Cape Cod.
- Offers flexible schedules including weekly, bi-weekly, or one-time cleanings.
Local House Cleaning Services Listed on Care.com
- Several local house cleaning services are listed, with rates starting at $22.25/hr.
- These services vary in experience and reviews.
House Cleaning Services Listed on Angie's List
- A list of top-rated house cleaners in West Yarmouth, MA, with reviews and ratings.
- Services include standard, deep, and specialized cleanings.
Short-Term Rental Management Fees in Yarmouth, Massachusetts
Managing a short-term rental in Yarmouth, Massachusetts, involves a range of fees that can vary significantly depending on the level of service chosen. Typically, management fees for short-term rentals in Yarmouth range from 10% to 30% of the rental revenue. Full-service management, which includes comprehensive services such as 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, which might only include booking management or minimal support, can be less expensive but still fall within this range. Additionally, hosts may incur extra fees for cleaning, repairs, or design services, which are usually passed on to the guests or factored into the overall management costs. Local regulations also mandate various taxes and fees, including a state excise tax of 5.7%, a local excise tax of up to 6%, and a potential community impact fee of up to 3%, further impacting the overall financial landscape for short-term rental hosts in Yarmouth.