Q: Are you looking for an Airbnb Property in Newport?

Here’s what you need to know if you’re thinking about buying a Newport property to convert into an Airbnb.

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If you’re interested in setting up an Airbnb, the first hurdle you’ll have to clear is the zoning rules in Newport. Most people coming to Newport have been here before; perhaps they went to school here and already know that it’s a great place to live and work. If that’s the case, they also know how many people are using Airbnb.

The Newport City Zoning Board treats Airbnb and Vrbo as a business, meaning that you have to be in a specific zone that allows business by right in order to set up an Airbnb property.

 

As you can see on this zone map, most of the zones in Newport are zoned as residential. The zones that those interested in Airbnb and Vrbo should look at are the yellow, blue, orange, and red zones, which, respectively, are the limited business, waterfront business, general business, and commercial industrial business. So ultimately, you need to think about where the property is before turning it into an Airbnb.

 

 

 

There are still other obstacles to overcome, as well. For one, you’ll have to register that property. When you register it, it first goes to the zoning department to confirm that it’s in the proper zone. Then it goes to the tax department to ensure that the taxes are up to date. Then it goes to the building department to make sure it’s the right size and type of building (the different types of homes all have separate rules). Once it clears those departments, it goes to the fire department, which will make sure that the property is safe enough to have guests in it.

There is exactly one property in the market in the zone south of Memorial Boulevard along Thames Street. This kind of scarcity is very common, but it doesn’t mean that you shouldn’t be interested in this market. I just point that fact out to let you know that it’s a bit of a narrower field than I think most people realize.

So if you’re thinking about jumping into this hot Newport Airbnb market, go for it! The rental market in Newport is consistently strong, and Airbnb continues to grow in popularity. The city is working hard to catch up with people’s desires to own and live in them. However, it does take a skilled Realtor and a careful investor to find the right property.

If we can help you in your search, don’t hesitate to reach out to us or visit our website at www.WRGRI.com. We hope you come to Newport and you find a great property.