A Scottsdale Airbnb has been found to be profitable thanks to a variety of factors. Firstly, there are over 30 million visitors here annually. People come for the big attractions as well as leisurely activities like world class golf. It’s a year-round destination because the weather is warm and Scottsdale is rated one of the most profitable cities in the U.S. for a short term rental investment. Continue reading to Know about Airbnb Profitability in Scottsdale.
The demand for a Scottsdale Airbnb is high as people would rather have all the amenities and space. There are also 15 Major League Baseball teams that do their pre-season training in Scottsdale. As the team, staff, and families are visiting over a longer period of time, they would much rather rent an Airbnb than stay at a hotel in the public eye.
1. A Lengthy Peak Season
From January to April, it’s peak season. It’s the middle of winter in the colder states so people may come here for a warm, weekend getaway. Baseball spring training season begins in March and is one of the busiest times in Scottsdale.Most events and the travel demand occurs during this time. Shoulder season is fairly short where less people come during mid Spring and late fall.
As Scottsdale is so hot during the summer months, it’s the low season. Just because there is a low season, this doesn’t mean that your Scottsdale Airbnb management property won’t be high in demand. There is still a need as more people are moving into the area and may rely on a Scottsdale Airbnb to stay at while they wait for their new home to be ready.
2. The Scottsdale Airbnb regulation doesn’t prohibit any property that is not restricted by a homeowners association from getting a short term rental licence. Therefore as Airbnb management Scottsdale, you want to keep an eye on the vacation rental supply to make sure the market does not get saturated. Right now, it’s still a very open market and the demand has outpaced the supply.
- “In 2017, Arizona State Legislature enacted A.R.S. §9-500.39 which eliminates the ability for local cities and towns including Scottsdale to regulate these types of rentals based solely on their classification or use. Consequently, these rentals are allowed, by state law, in Scottsdale. However, A.R.S. §9-500.39 does not preclude the ability for Homeowner Associations to regulate or restrict these types of uses.”
3. If your Scottsdale Airbnb investment doesn’t currently have a pool, we recommend investing in one. Scottsdale is hot enough all year that visitors will have an interest in a pool as part of the amenities you offer. While it’s an investment, it will surely pay itself off quickly as your property will be higher in demand and you’re able to charge more per night. Part of the Airbnb investing strategy includes making your property highly desirable.
4. The 5 Best Neighborhoods for Airbnb Investing in Scottsdale
These 5 neighborhoods in Scottsdale are the most desirable and a great place for a Airbnb investment:
Old Town Scottsdale
The old town is reminiscent of the old West and this shows with the cowboy art throughout the area. There are different galleries and an outdoor sculpture garden. This is the central tourist spot and there are great cafes, gastropubs, and wine bars here. There are very few short term rental investment options here and it’s high in demand.
This luxury getaway draws the rich and famous here with it’s serenity and spectacular views. Multi-million dollar homes are tastefully placed and it’s a place where the cost insensitive comes for privacy and exclusivity. There are remarkable eateries and lounges and all the amenities catering to discerning visitors.
This area is a great spot for a Scottsdale Airbnb with an air of wealth on every street block. Both local and international tourists come here for the world-class spas, incredible wine bars, high end steakhouses, and high fashion boutiques. The shopping area is well set up with the Market Street at DC Ranch and La Mirada. Visitors will enjoy the sprawling countryside and can hike, bike, or go horseback riding.
The location is what makes this neighborhood such a lucrative Scottsdale vacation rental management investment. It sits between North Scottsdale and the town of Tempe, which is a college town. It just happens to be a busy crossroad and offers some incredible restaurant options. It’s also quite close to Old Town Scottsdale and this is where most short term tourists will want to be near. Being close to Tempe, Airbnb investing also makes a lot of sense because families dropping their kids off may want to stay a few days. An Airbnb in South Scottsdale is an ideal location for them.
This area is 640-acres of prime land that was once an Arabian horse ranch owned by Daniel C. Gainey. He has been honored throughed with the Golf Club and Hyatt Regency Scottsdale Resort and Spa. It’s an upscale neighborhood with plenty of glitz and fantastic food with award-winning wine lists. It’s a fantastic getaway for golfers, families, and couples. There are some great shopping malls with unique boutiques. The largest shopping mile in the southwest is five miles away. There aren’t too many Scottsdale Airbnb options here so there’s a lot of opportunity for Airbnb investing.
5. Long Term Growth On Your Investment
As it stands right now, Airbnb investing in Scottsdale looks good. There is a slight upswing but it’s important to note that if the real estate prices do go up, Airbnb profitability in Scottsdale goes down. This is just for the short term. In the long term, it will go back up. The cause of a short term drop is that the amount of capital needed to invest is higher. This reduces the return on investment (ROI) if revenue stays the same. However, in the long term, the city will grow and attract more business travelers. People moving here can cause Airbnb profitability in Scottsdale to become higher regardless of higher real estate prices.