Laurel, Maryland: Short-Term Rental Market Overview (2024)

Table of Contents

Short Term Rental Management in Laurel Maryland. Why choose RedAwning Experience in numbers Laurel, Maryland: Short-Term Rental Market Overview Thriving Short-Term Rental Market in Laurel, Maryland Short-Term Rental Regulations in Laurel, Maryland for 2024 State and Local Licensing Requirements Local Fees and Inspections Tax Obligations Zoning and Residential Restrictions Health and Safety Standards Insurance Requirements Compliance with Local Events and Seasonality Additional Requirements Penalties for Non-Compliance Top Neighborhoods for Airbnb Revenue in Laurel, Maryland 1. Downtown Laurel and Surrounding Areas 2. Areas Near Fort Meade and BWI Airport 3. North Laurel 4. Neighborhoods with Easy Access to Washington D.C. and Baltimore 5. Waterfront and Scenic Areas Tips for Furnishing and Designing an Inviting Airbnb in Laurel, Maryland 1. Understand the Local Style 2. Choose Quality Over Quantity 3. Select Statement Pieces 4. Use Rugs Strategically 5. Add Unique and Local Touches 6. Consider the Flow and Functionality 7. Pay Attention to Details 8. Utilize Local Resources 9. Hire Local Help When Necessary 10. Add Plants and Greenery 11. Ensure Consistency in Design 12. Budget Wisely Discover Laurel, Maryland: Local Attractions and Insider Tips Local Attractions Insider Tips Practical Tips to Run a Successful Short Term Rental Business in Laurel, Maryland House Cleaning Services Fast Maid Service Care.com House Cleaning Services Angi's Top House Cleaners Thumbtack House Cleaning Services Merry Maids Short-Term Rental Management Fees in Laurel, Maryland: A Breakdown of Costs and Services Short Term Rental Calculator Please try again:");let q=new Intl.NumberFormat("en-US",{style:"currency",currency:"USD",minimumFractionDigits:0,maximumFractionDigits:0});function pt(e){try{return JSON.parse(e).Message.replace(/[()'"]/g,"").split(",")[0].trim()}catch{return"We're having a problem with your request."}}const ht=(e,t,n)=>[(()=>{var s=nt(),i=s.firstChild,l=i.firstChild,a=l.nextSibling,r=a.firstChild,c=r.firstChild,d=i.nextSibling;return P(c,"src",ie),g(d,()=>q.format(e)),s})(),(()=>{var 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Short Term Rental Management in Laurel Maryland.

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Laurel, Maryland: Short-Term Rental Market Overview

In Laurel, Maryland, the short-term rental market is thriving, offering a wide range of fully furnished and convenient options with flexible lease terms, attractive amenities, and competitive pricing to cater to various needs and preferences.

Market overview

Short Term Regulations

Neighborhood Performance

Design Tips

Insider Tips

Practical Tips

Local Vendors

Management fees

Market overview

Thriving Short-Term Rental Market in Laurel, Maryland

The short-term rental market in Laurel, Maryland, is experiencing a significant surge in demand and occupancy. With a wide array of fully furnished and conveniently equipped units available, renters are finding flexible and comfortable living solutions that cater to various needs, from short work assignments to extended vacations. Currently, there are over 430 short-term rentals available in Laurel, offering amenities such as in-unit laundry, kitchens, and dedicated workspaces, which are particularly appealing to digital nomads and traveling professionals.

Average daily rates for these rentals range from approximately $100 to $284 per night, depending on the unit's size and amenities. This flexibility, combined with the ability to select specific check-in and check-out dates, makes Laurel an attractive destination for those seeking temporary housing without long-term commitments. The market's strong performance is reflected in the high occupancy rates, driven by the increasing demand for short-term accommodations in this convenient and well-amenitized area.

Short Term Regulations

Short-Term Rental Regulations in Laurel, Maryland for 2024

State and Local Licensing Requirements

All short-term rental hosts in Maryland must register with the Maryland Short-Term Rental Commission and pay an annual $100 licensing fee.
In Laurel, Maryland, hosts must obtain a local license, which involves an inspection and a fee. The city requires all short-term rental properties to be licensed.

Local Fees and Inspections

An annual license fee of $40 per unit is required for single-family, townhouse, condominium, duplex, or apartment-style rentals in Laurel.
An initial inspection of the rental unit is mandatory, and subsequent inspections are required every three years for properties with less than 12 units.

Tax Obligations

Hosts must collect and remit a 7% hotel tax on all bookings in Laurel.
Additionally, hosts are responsible for collecting and remitting the state-wide sales tax of 6% on all short-term rentals of 88 nights or less.

Zoning and Residential Restrictions

Short-term rentals are not permitted in all residential areas in Laurel, and hosts must comply with local zoning regulations.

Health and Safety Standards

Properties must comply with all applicable building, fire, health, and safety codes. This includes having smoke detectors, carbon monoxide detectors, and fire extinguishers installed and regularly tested.

Insurance Requirements

Hosts must have at least $1,000,000 in commercial liability insurance coverage to protect both hosts and guests.

Compliance with Local Events and Seasonality

Hosts should be aware of the seasonal demand and local events that can affect occupancy rates and rental prices. Peak season typically starts in late spring and extends through the summer months, with additional demand during events like the Main Street Festival and Riverfest.

Additional Requirements

Hosts must provide guests with emergency contact information and clearly post fire escape routes.
Compliance with homeowners association (HOA) or condo association rules, if applicable, is also necessary.

Penalties for Non-Compliance

Failure to obtain the necessary licenses or comply with regulations can result in fines of up to $1,000 per violation, as well as possible civil or criminal enforcement action.

Neighborhood Performance

Top Neighborhoods for Airbnb Revenue in Laurel, Maryland

1. Downtown Laurel and Surrounding Areas

These areas are appealing due to their central location, providing easy access to local amenities, restaurants, and shops. Properties like the "Remedy Cottage" and other homes in the heart of Laurel are highly rated for their cleanliness, location, and modern amenities.

2. Areas Near Fort Meade and BWI Airport

Neighborhoods close to Fort Meade and BWI Airport, such as those in the vicinity of Whiskey Bottom Saloon, are popular due to their convenience for travelers and service members. These locations offer quick access to major highways, airports, and nearby attractions like the Laurel Park Horse Race Track.

3. North Laurel

North Laurel is attractive for its balance of suburban tranquility and proximity to urban amenities. Guests appreciate the clean and comfortable homes, many of which are equipped with dedicated workspaces, WiFi, and other modern conveniences.

4. Neighborhoods with Easy Access to Washington D.C. and Baltimore

Areas that offer a short commute to both Washington D.C. and Baltimore, such as homes in Silver Spring and Lanham, are highly sought after. These locations provide the best of both worlds, combining the tranquility of suburban living with the convenience of urban access.

5. Waterfront and Scenic Areas

Properties in waterfront communities, such as those in Shady Side and Glen Burnie, are particularly appealing for their scenic views and outdoor activities like kayaking or paddleboarding. These rentals often feature luxurious amenities and are highly rated for their unique experiences.

These neighborhoods are favored by guests due to their excellent locations, cleanliness, modern amenities, and the variety of activities and conveniences they offer.

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Design Tips

Tips for Furnishing and Designing an Inviting Airbnb in Laurel, Maryland

1. Understand the Local Style

Laurel, Maryland, has a mix of historic and modern elements. Incorporate local architectural styles, such as colonial or Victorian elements, to reflect the city's unique character.

2. Choose Quality Over Quantity

Invest in high-quality furniture that is durable and comfortable. This is crucial for ensuring guest satisfaction and reducing the need for frequent replacements.

3. Select Statement Pieces

Identify key areas of the home, such as the living room or dining room, and splurge on statement pieces like sofas, coffee tables, and dining room tables. These pieces will define the space and create a lasting impression.

4. Use Rugs Strategically

Rugs can either be the first piece that sets the tone for the room or the last piece that ties everything together. Choose rugs that complement the overall decor and add warmth to the space.

5. Add Unique and Local Touches

Incorporate unique, eye-catching items that reflect the local culture. This could include antique pieces, local artwork, or decorative items found at estate auctions or local markets.

6. Consider the Flow and Functionality

Ensure the layout of the space is functional and inviting. Arrange furniture to create a comfortable flow and make sure there is ample space for guests to move around.

7. Pay Attention to Details

Small appliances, kitchenware, utensils, bathroom items, linens, towels, and toiletries are essential for a well-rounded guest experience. Do not underestimate the effort required to ensure these items are adequately covered.

8. Utilize Local Resources

If possible, use local resources such as local furniture stores, estate auctions, and classifieds to find unique and fitting pieces for your Airbnb. This can help in maintaining the local charm and character.

9. Hire Local Help When Necessary

If you are managing the property remotely, consider hiring a local co-host to handle any immediate issues that may arise, such as late deliveries or guest inquiries.

10. Add Plants and Greenery

Incorporate plants and greenery to liven up the space. This can add a touch of warmth and make the environment more welcoming for guests.

11. Ensure Consistency in Design

While adding unique pieces, maintain a consistent design theme throughout the property to create a cohesive and inviting atmosphere. This helps in reflecting the city's style and your personal touch.

12. Budget Wisely

Set a budget and prioritize your spending. Know where to splurge and where to save, ensuring that the most important pieces are of high quality while still staying within your budget.

Insider Tips

Discover Laurel, Maryland: Local Attractions and Insider Tips

Local Attractions

Nature and Outdoor Activities

Patuxent Research Refuge: Explore 13,000 acres of preserved forest, meadow, and wetlands. Enjoy hiking, biking, horseback riding, bird-watching, hunting, and fishing.

Historical Sites

Montpelier House Museum: Visit an 18th-century mansion to explore the complex history of the area. The museum features elaborate Christmas displays and beautiful gardens.
Laurel Railroad Station: A historic train station designed by architect E. Francis Baldwin, built in 1884 and listed on the National Register of Historic Places.

Arts and Culture

Montpelier Arts Center: Located on the grounds of the Montpelier House Museum, this arts center features galleries with local artist exhibitions, live music performances, classes, and community events.

Entertainment

Urban Air Adventure Park: A fun destination with trampolines, go-karts, laser tag, climbing walls, and virtual reality activities suitable for all ages.
Laurel’s House of Horror: For those who enjoy a scare, this haunted house offers year-round programming, escape rooms, and paranormal tours.
Live Casino and Hotel: Located in Arundel Mills, this venue hosts various events, performances, and offers multiple restaurants and bars.

Shopping and Dining

Main Street Laurel: Stroll through the charming downtown area and browse local boutiques, coffee shops, and restaurants of varying cuisines.
Dutch Country Farmer's Market: Shop for fresh produce and local goods at this bustling market.

Special Events

Maryland Renaissance Festival: Although located in nearby Annapolis, this festival is a must-visit for history and fantasy enthusiasts, held from late August through October.

Insider Tips

Getting Around

Laurel is conveniently located between Washington, D.C. and Baltimore, making it easy to explore both cities. Use public transportation or drive to nearby attractions.

Local History

Laurel has a rich industrial past as a mill town and early commuter town. Explore the historic district centered on Main Street to learn more about its history.

Unique Landmarks

Visit the site where many dinosaur fossils from the Cretaceous Era have been found, making it one of the most prolific fossil sites in the eastern United States.

Community Events

Check local event calendars for community events, classes, and workshops at the Montpelier Arts Center and other local venues.

Dining Recommendations

Enjoy a variety of cuisines at the restaurants on Main Street and within the Live Casino and Hotel complex.

By sharing these local attractions and insider tips, you can help your Airbnb guests make the most of their visit to Laurel, Maryland.

Practical Tips

Practical Tips to Run a Successful Short Term Rental Business in Laurel, Maryland

To ensure a smooth and profitable short-term rental business in Laurel, Maryland, several practical tips can make a significant difference. First, it is crucial to comply with local regulations, including noise regulations. Inform your guests about quiet hours and any specific noise restrictions to avoid complaints and potential fines. Creating a comprehensive digital and physical house manual is also essential; include detailed instructions, Wi-Fi passwords, and other important information to make your guests' stay convenient and stress-free.

A simplified check-in process can enhance the guest experience. Utilize smart locks to eliminate the need for physical key exchanges, and provide clear, photo-illustrated parking instructions to avoid any confusion. Additionally, ensure you are aware of and comply with Laurel's specific short-term rental regulations, such as obtaining the necessary licenses, conducting inspections, and collecting and remitting the 7% hotel tax on all bookings.

By implementing these strategies, you can create a welcoming and well-organized environment for your guests, leading to positive reviews and repeat bookings.

Local Vendors

Here is a brief list of house cleaning services in Laurel, Maryland:

House Cleaning Services

Fast Maid Service

Offers top-notch house cleaning, move-in/move-out cleaning, recurring cleaning, and office cleaning.
Provides customizable cleaning plans and flexible scheduling.
Uses eco-friendly cleaning products and offers a satisfaction guarantee.

Care.com House Cleaning Services

Lists multiple house cleaning services in Laurel, MD, with rates starting at $19.02/hr.
Average experience of 3 years among listed services.
Rated 4.8 out of 5 stars based on user reviews.

Angi's Top House Cleaners

Features a list of top-rated house cleaners in Laurel, MD.
Includes services that offer standard, deep, and move-out cleaning.
Provides guidance on questions to ask before hiring a cleaner and cost estimates ($30-$50 per hour).

Thumbtack House Cleaning Services

Offers a list of the best house cleaning services in Laurel, MD, as rated by the community.
Includes services that charge per hour, per square foot, or a flat rate.
Provides tips on how to hire the best maid or house cleaning service.

Merry Maids

Provides cleaning services in Laurel, MD, with easy scheduling options.
Offers various cleaning packages and customizable plans.

These services do not include repair or maintenance providers, as the sources primarily focus on cleaning services.

Management fees

Short-Term Rental Management Fees in Laurel, Maryland: A Breakdown of Costs and Services

In Laurel, Maryland, short-term rental management fees can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes comprehensive services such as guest communication, dynamic marketing strategies, and maintenance, tends to be on the higher end of this spectrum, often around 20% to 30% of the rental income.

Basic services, which might only include listing and booking management, may incur lower fees. Additionally, property owners should be aware of potential extra fees for services like cleaning, repairs, and property design or setup. These additional costs can impact the overall expense of managing a short-term rental property, emphasizing the importance of understanding the fee structure and services included when selecting a property management company.

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Short Term Rental Calculator

Find out how much your property in Laurel should generate as a short term rental and look at the performance of properties around yours.

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Avg. Daily Rate (ADR)

Estimate of the average amount the home can charge a guest per night, based on how much similar properties nearby charge.

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Occupancy

Estimate of the % of days during a calendar year that the home will be occupied with guests, based on similar properties nearby.

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^*Estimate is based on comparable properties. Schedule a call with our expert team for a comprehensive review.

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r=ft(),c=r.firstChild,d=c.nextSibling,u=d.firstChild;return g(d,a,u),r})()}}const gt="https://maps.googleapis.com/maps/api/geocode/json?key=AIzaSyCemPcbcnIKOSBqIaKDJikXy-HACEDhABM&type=json",Ce="https://api.hsforms.com/submissions/v3/integration/submit/2344584/6268f334-be31-4482-958b-1875c2e6d6dc",_t="https://api.ipify.org?format=jsonp&callback=?",At=e=>{for(var t=e+"=",n=document&&document.cookie?document.cookie.split(";"):"",s=0;s{let e="";const t=await fetch(_t);return t.ok&&(e=t.ip),e},bt=async e=>{const t=new Date().getTime(),n=await yt();let s=[];for(const[i,l]of Object.entries(e))s.push({name:i,value:l});return{url:Ce,method:"POST",headers:{Accept:"application/json","Content-Type":"application/json"},contentType:!1,body:JSON.stringify({submittedAt:t,fields:s,context:{hutk:At("hubspotutk"),ipAddress:n,pageUri:window&&window.location?window.location.href:"",pageName:window&&window.document?window.document.title:""}})}};function wt(e){const t=(""+e).replace(/\D/g,"");return t.length===10?"+1-"+t.substring(0,3)+"-"+t.substring(3,6)+"-"+t.substring(6):t.length===11&&t.startsWith("1")?"+1-"+t.substring(1,4)+"-"+t.substring(4,7)+"-"+t.substring(7):t.length>=11&&t.length<=15?"+"+t.replace(/(\d{1,3})(\d{3})(\d{3})(\d{4})/,"$1 $2 $3 $4").trim():"+"+t}function $t(e){const t=/^(?:\d{5}|\d{5}-\d{4})$/,n=/^[A-Za-z]\d[A-Za-z] \d[A-Za-z]\d$/,s=/^\d{5}$/;return!!(t.test(e)||n.test(e)||s.test(e))}async function Se(e){let t={city:"",state:"",latitude:"",longitude:""};try{const s=await(await fetch(gt+"&address="+e)).json();if(s.results&&s.results.length){const i=s.results[0],l=i.address_components;t.latitude=i.geometry.location.lat,t.longitude=i.geometry.location.lng,l.map(a=>{a.types.map(c=>{c=="locality"&&(t.city=a.long_name),c=="administrative_area_level_1"&&(t.state=a.short_name)})})}}catch{}return t}function xe(e){let t=[];const n=e.split(" ");return n.length>1?(t.push(n.slice(0,-1).join(" ")),t.push(n.slice(-1).join(" "))):(t.push(e),t.push(" ")),t}function Ct(e){const t=typeof e=="string"?JSON.parse(e):e;if(!t||t.length===0)return"No compareable information available.";let n="";return t.map(s=>{n+=`Vacation Rental: ${s.title}Property Details:- Annual Revenue: $${s.ltm.toLocaleString()}- Daily Rate: $${s.adr.toLocaleString()}- Occupancy Rate: ${s.occupancy}%- Airbnb URL: ${s.url}`}),n}async function St(e){const t=await bt(e);return await fetch(Ce,t)}var xt=x('