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    Traverse City

    Airbnb Property Management Reimagined

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  •  Introduction

    Traverse City, MI, is a highly attractive destination for short-term rentals, characterized by its scenic beauty, vibrant tourism, and strong rental market. Here are some key insights and statistics about Traverse City's short-term rental market:

     

    Tourism and Spending: Traverse City's tourism industry is thriving. The city is a popular destination known for its wineries, outdoor activities, and cultural events, drawing a significant number of visitors year-round. During the summer, Traverse City sees a substantial influx of tourists, contributing to high demand for short-term rentals. This demand remains steady even as other markets face declines, with the region experiencing a 24% increase in rental properties over the past year​.

     

    Market Demand: The real estate market in Traverse City is robust, with a high occupancy rate for rentals. The occupancy rate for multi-family housing in the region is around 99.3%, significantly higher than the typical healthy market range of 94-96%. This high demand is driven by both the tourism sector and the need for more permanent housing solutions​.

     

    Neighborhood Performance: Popular neighborhoods for short-term rentals in Traverse City include the areas around Grand Traverse Commons and the waterfront regions. Properties in these areas enjoy high occupancy rates and command premium nightly rates. The average nightly rate for an Airbnb in Traverse City is around $400, reflecting the strong demand and willingness of visitors to pay for quality accommodations​.

     

    Economic and Cultural Appeal: Traverse City's appeal lies in its unique combination of natural beauty, recreational activities, and cultural attractions. The city's wineries, festivals, and outdoor activities make it a prime destination for tourists. Additionally, Traverse City's commitment to maintaining a vibrant local economy and high quality of life continues to attract both visitors and investors​.

     

    Growth Factors: The growth in Traverse City's tourism and rental market can be attributed to several factors, including the region's natural attractions, a steady increase in visitors, and a growing number of rental properties. While there are concerns about the potential for the market to soften, the current trends indicate a strong and resilient market for short-term rentals​.

     

    By leveraging professional Airbnb property management services like HostStarter, hosts in Traverse City can optimize their listings, manage guest interactions, and ensure compliance with local regulations. This strategic approach can lead to better reviews, higher occupancy rates, and ultimately, greater returns on investment in Traverse City's thriving tourism market.

  • Understanding Traverse City's Short-Term Rental (STR) Regulations

    Updated August 2024

    Areas Where STRs Are Currently Allowed in Traverse City

    Short-term rentals in Traverse City are regulated by zoning laws. STRs are permitted in the following zoning districts:

    • C-1: Office-Service (with restrictions)
    • C-2: Neighborhood Center (with restrictions)
    • C-3: Community Center
    • C-4: Regional Center
    • D-1: Development District
    • D-2: Development District (with restrictions)
    • D-3: Development District
    • GTC: Grand Traverse Commons
    • HR: Hotel Resort
    • I: Industrial District (with restrictions)
    • T: Transportation District

    You can use the city's Interactive Zoning Map to determine your property's zoning designation.

    The Process of Registering an Airbnb in Traverse City

    To operate a short-term rental in Traverse City, you must obtain a Vacation Home Rental License. Follow these steps to apply:

    1. Check Property Eligibility: Confirm your property’s zoning designation using the Interactive Zoning Map.
    2. Prepare Required Documents:
      1. Parcel ID Number
      2. Proof of liability insurance (minimum $1 million per occurrence)
      3. A fire escape plan sketch
      4. A site plan showing conformance with zoning provisions
    3. Submit Application: Complete and submit the application online through the city’s portal.
    4. Contact the Fire Marshall: After submitting your application, schedule an inspection with the Fire Marshall.

    Costs Associated with Registering an Airbnb in Traverse City

    The application fee for a new Vacation Home Rental License in Traverse City is $200. Renewal applications, also costing $200, must be submitted between 30 to 90 days before the license expiration date.

    Traverse City Hotel Occupancy Tax (HOT) Requirements

    Traverse City requires short-term rental hosts to collect and remit a hotel occupancy tax. The current rate and detailed requirements can be obtained from the City Clerk's Office or the relevant city department managing these taxes.

     

    By adhering to these regulations and leveraging professional property management services, Airbnb hosts in Traverse City can optimize their listings, manage guest interactions effectively, and ensure compliance with local laws, ultimately leading to better guest experiences and higher occupancy rates.

  • Management Packages Available

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    • Smart Technology
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    • Consumables

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    Only 12.5%

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    • Listing Setup
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    $399.00

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    • Scheduling & Managing Cleaners
    • Scheduling Maintenance
    • Scheduling Repairs
    • Restocking of Supplies

  • Guest Reviews

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    5/5

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    5/5

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  • Benefits of Partnering with HostStarter for Traverse City Airbnb Property Management

    Airbnb Management The Way It Should Be.

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    Stress-Free Rental Experience for Hosts

    Managing a short-term rental in Traverse City can be complex and time-consuming. By partnering with our property management company, hosts can enjoy a hassle-free rental experience. We take care of everything, from guest communications and check-ins to maintenance and cleaning, allowing hosts to focus on other priorities while we manage their property efficiently.

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    Increased Occupancy Rates and Rental Income

    Our property management company utilizes advanced marketing strategies and dynamic pricing models to ensure high occupancy rates and maximize rental income. By leveraging our in-depth understanding of the Traverse City market, we attract more guests and optimize pricing based on demand, seasonality, and local events, ensuring that your property remains competitive and profitable.

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    Dedicated Support Team Available 24/7

    We provide a dedicated support team available 24/7 to handle any issues that may arise, both for guests and hosts. This ensures a seamless experience and quick resolution of any problems, leading to higher guest satisfaction and better reviews. Our team is always ready to assist with emergencies or inquiries, offering peace of mind for hosts.

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    In-Depth Knowledge of Traverse City's STR Market and Regulations

    Navigating the regulatory landscape of short-term rentals in Traverse City can be challenging. Our property management company has comprehensive knowledge of local STR market trends and regulations. We ensure that your property complies with all local laws, zoning requirements, and licensing procedures, helping you avoid legal issues and fines.

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