What are the Airbnb restrictions & rules in Reno, Nevada? Check out the occupancy rates, annual revenue, and more in Reno.
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What are the Airbnb restrictions & rules in Reno, Nevada? Check out the occupancy rates, annual revenue, and more in Reno.
- Last updated on
- August 7, 2023
Are you looking to invest in an Airbnb property in Nevada? Aside from Las Vegas which is part of the Airbnb cities with the highest occupancy rates, Reno is also an up-and-coming city to invest in.
Nevada offers various investment opportunities that one should not miss out on. This state generates thousands of dollars which catches the attention of property owners and investors from all over the world. Continue reading to learn more about Airbnb rules in Reno and check out the profitability in this city.
Continue reading to learn more about Airbnb rules in Reno and check out the profitability in this city.
Is Airbnb legal in Reno?
Let’s cut the story short: Yes, Airbnb is certainly legal in Reno! With more than 3.86 million visitors annually, this city is popular for its casino and tourist attractions including the High Eastern Sierra foothills, National Automobile Museum, National Museum of Art, and more.
Here is a little proof. As of July 2022, there are 11,395 nights available in Reno from Airbnb alone. Booked Out manages 26 listings, while Majid and Rhoda operate 23 and 17 respectively.
How much can I make by running an Airbnb in Reno?
Currently, there are 560 Airbnb listings in Reno, with 69% of entire houses earning up to $3,067 a month. The Average Occupancy Rate in Reno is 67% and the average daily rate is $114. According to short-term rental market data source Airbtics, a 2-bedroom apartment in Reno can make up to $46,428 each year. Check out our Income Calculator and find out how much you can make with Airbnb!!
What Are The Short-term Rental Accommodation Policies in Reno?
- If your STR is within the City of Reno or City of Sparks, you CANNOT obtain a permit. Washoe County Planning and Building Department DOES NOT have jurisdiction over the City of Reno and the City of Sparks.
- A number of cities in Nevada including Henderson, Las Vegas, and Mesquite have approved specific ordinances to regulate STRs. At this time, many other cites — such as Boulder City, Ely, North Las Vegas, and Reno — appear to be in the process of developing an STR ordinance.
- Short-term rental owners must have a designated local representative available 24/7 and must meet liability coverage minimums.
- Short-term rentals must establish a minimum distance of 660 feet between any residential units.
- There must be a 2,500-foot distance between a short-term rental and a resort hotel.
- Short-term rentals are prohibited to rent for parties, weddings, events, or other large gatherings.
Is Reno A Profitable Area to Invest In?
If you’re worried about spending thousands of bucks to purchase a property, the good news is you have the option of not owning one. This is because there are many property investors who enjoy doing rental arbitrage in Reno as a passive income!
Airbnb metrics are important in order to expect potential revenue and avoid losing hard-earned money. Before starting an Airbnb business, getting to know your preferred area’s occupancy rates, average daily rates, and annual revenue is important to achieve success.
By using an accurate short-term rental calculator, you’ll be able to confirm if Reno is a good place for investment! In the digital era, it’s easy to discover your estimated annual revenue and high-return investment opportunities in Reno.
Reno’s Rental Market 2022
Based on a recent report of Reno’s rental market trend in 2022, it is forecasted that the real estate market will continuously rise at a slower rate this year. In relation to this, it’s also an interesting thing to note that the apartments remain affordable in comparison to other markets in Nevada.
Source: Housing Market Trend in Reno
Profitable Neighborhoods in Reno
Here are some of the most recommended neighborhoods that you can look into & consider purchasing based on Airbtics estimator:
| Suburbs | Average House Price (2bd apartments) | Average Rent Price | Average Airbnb Revenue |
|---|---|---|---|
| West University | $190,000 (1,152 sqft) | $1,650 | $3,467 |
| Wells Avenue | $259,000 (833 sqft) | $1,550 | $3,031 |
| Downtown | $519,000 (1,144 sqft) | $1,700 | $3,285 |
Source for Property Price: Properties in Reno
Conclusion
In general, considering the Airbnb rules & regulations in Reno will help your Airbnb business to run smoothly! Aside from the fact that this is a passive income for various hosts, starting an Airbnb business is also a way to enjoy life and connect with new people from all over the world. Try Airbtics now and make the wisest investment decisions!
Short-Term Rental Data
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