The rental regulations in Park City are always up for debate among the council and community. Assuming the regulations don’t change too much, here are 8 things to consider before buying an Airbnb.
1) Amenities: consider the amenities like a pool or hot tub and ski storage. If you don't have amenities to offer, your rentability could be impacted. Most people want some kind of amenity, especially if they don't have the same amenities at home. And those who are used to certain amenities like a gym close by often want the same thing when they go on vacation.
2) Snow removal and parking- will they have to park on the street? Remove the snow on their own? Or park in a public garage. A lot of guests have electric cars that need to be charged.
3) Bed count- You've got to consider how people will sleep, and where. Do you have enough beds for people? In Park City we have bunk rooms, King sized rooms, and rooms with 2 beds. Sometimes a basement can be set up with multiple bunck beds and pull out sofas. The bed mix can easily impact how people utilize the space and can effect the rentability.
4) Décor? Obviously, we’re in the mountains, but I’ve seen some homes that are just way overdone with wood and all the mountainy décor you can imagine. Remember that some people enjoy the mountains outside and prefer indoor décor that’s a bit more contemporary with lighter walls, wood floor and modern finishes.
5) Location and proximity to public transportation- Park City has 3, going on 4 resorts in a small area, but getting to the resorts can be tricky if people don’t bring a car. While we do have some public options like the High Valley Transit and the free bus, the location and proximity to the slopes has a lot of importance for people coming in for a short period. A condo or home with a shuttle to the slopes, a short walk to the bus, or even a short walk directly to the slopes will tend to be easiest to rent. Park City also has a few key shopping areas, like Old Town, Kimball Junction, and Prospector. Traffic is getting a lot worse during the season, so definitely consider how your guests will get around.
6) Outdoor space – any kind of outdoor space is great. Think about what you like to do during a cold winter- sit by a fireplace, enjoy a nice view of the slopes, or a rooftop. A yard for dining and lounging, and even for pets, is another valuable amenity.
7) Renting your place in the offseason – there are some locations that are more attractive during the winter, and others that are more attractive during the summer. If you can snag a home that offers the best of both worlds that’s most ideal, but if you can’t, keep in mind that Park City has 2 shoulder seasons and you may not be able to rent it during those few months before and after the ski season.
8) Wear and tear to the home and to the community- Before buying a home think about how many people you want to be able to host. Larger homes that can fit larger groups usually result in more wear and tear to the home, and to the community. Is there room for cars to park in the garage or driveway? Will they need to park on the street? And if so, how could that impact snow removal. Snow removal- the thing most visitors don’t consider!
If you’re interested in getting an Airbnb in Park City please check out my rental guide using the link above. And for more information about Park City and the real estate market in Park City please contact me at 917-858-1261 or [email protected].
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