Syracuse, New York Short-Term Rental Market Overview
Visitor Profile
Visitors to Syracuse, New York, are often motivated by a desire for both cultural enrichment and family-friendly entertainment. Tourists frequently explore attractions like the Destiny USA Mall, which features the country’s tallest ropes course, laser tag, and an extensive arcade, making it a prime destination for thrill-seekers and families alike. Additionally, Syracuse appeals to history buffs, art lovers, and sports enthusiasts with its museums, galleries, and college sports events, offering a well-rounded experience for diverse visitor avatars.
These travelers typically seek an engaging blend of shopping, outdoor activities, cultural sights, and regional festivals. Whether they’re visiting for the vibrant downtown scene, the scenic Finger Lakes region, or the numerous parks and outdoor trails, Syracuse provides a dynamic setting for memorable getaways. Hosts should highlight these attractions and local experiences, positioning their rentals as convenient gateways to Syracuse’s rich tapestry of activities.
Top Attractions
Syracuse, New York offers a captivating blend of history, culture, and vibrant city life that makes it a must-visit destination. The city’s downtown area is a hub of restored buildings, museums, galleries, and historical sites, including the Everson Museum of Art designed by I.M. Pei and the Erie Canal Museum housed in a historic gear lock building. Visitors can enjoy various attractions such as the NYS Fairgrounds, which hosts regional events, or explore outdoor pursuits in city parks and scenic lakes like Green Lake, providing a perfect mix of urban exploration and natural beauty.
Beyond its historical and cultural appeal, Syracuse is celebrated for its lively culinary scene with unique spots like Armory Square offering exceptional dining and shopping experiences. For the adventurous, uncover quirky and lesser-known sights such as the Tree of 40 Fruit or the World Reclamation Art Project. Sports fans also flock here to catch thrilling games featuring the Orange football and basketball teams. Whether you’re seeking sophisticated art, outdoor adventures, or regional festivities, Syracuse’s diverse attractions promise an engaging and memorable experience.
Regulations
Short-term rental hosting in Syracuse, New York, occurs within a regulatory environment that requires hosts to navigate several layers of compliance to operate legally and successfully. The city has enacted specific rules governing short-term rentals (STRs) that address licensing, zoning, safety, taxation, and operational conduct, reflecting a structured but nuanced approach typical of mid-sized urban areas. Hosts should anticipate formal registration and adherence to hotel-like safety standards, alongside particular restrictions related to property use, occupancy, and fiscal responsibilities.
Key Regulatory Considerations:
– Licensing and Permits: Hosting short-term rentals in Syracuse mandates obtaining a license through the city’s rental registration system. This process often involves an application fee and the need for periodic renewals. The licensing authority is typically the city’s Department of Neighborhood and Business Development or an equivalent office.
– Primary Residence Requirement: The regulations typically enforce that the STR must be the host’s primary residence or apply specific limitations on non-primary residences. Definitions in the ordinance clarify what qualifies as \”primary residence\” and may impact how many days per year a property can be rented out if not the primary home.
– Zoning and Location: Syracuse’s zoning laws influence where STRs can operate. Certain residential zones may restrict or prohibit short-term rentals to preserve community character, whereas other zones may be more permissive. Hosts should review zoning maps and consult city planning departments.
– Occupancy, Health & Safety: There are defined occupancy limits based on property size and local fire safety codes. Mandatory safety measures include installation and maintenance of smoke detectors, carbon monoxide alarms, and fire extinguishers. Failure to comply can result in fines or loss of licensing.
– Tax Obligations: Hosts are responsible for collecting and remitting applicable transient occupancy taxes along with sales tax. Syracuse, aligning with New York state regulations, requires registration with the Department of Taxation and Finance and timely filing to stay compliant.
– Operational Standards & Enforcement: The city enforces standards regarding noise levels, maximum guest numbers, and suitable guest conduct to mitigate nuisance complaints. Advertising must accurately represent the licensed property. Violations can lead to penalties, suspension, or revocation of licenses.
For the most current and legally binding information, property owners should consult the City of Syracuse’s Official Short-Term Rental Regulations Page. This source provides authoritative guidance, including steps for registration, ordinance details, and contact information for municipal departments overseeing STR compliance.
Syracuse, New York Market Performance Trends
Syracuse, New York Rental Market Insights
10-Year Market Growth
Booking Activity
- 1-3 Months:61.5% Booked
- 4-6 Months:45.8% Booked
- 7-9 Months:39.6% Booked
- 10-12 Months:6.5% Booked
Cancellation Policies
- Flexible:35.2%
- Moderate:35.9%
- Strict:28.4%
- Super Strict:28.4%
- N/A:0.6%
Minimum Stay
- 1 Day:321
- 2 Days:199
- 3 Days:43
- 4-6 Days:39
- 7-29 Days:65
- 30+ Days:57
