Columbus, Ohio is the Ideal Location for Your Short-Term Rental Business

Columbus, Ohio is a hidden gem when it comes to short-term rental business opportunities. We’ve had great success in this city, and we’ve helped many other entrepreneurs start their short-term rental businesses here. And it just keeps getting better! While there are many lucrative cities you could choose to set up shop, we highly recommend Columbus.

One of the most compelling reasons to choose Columbus for your short-term rental business is the low cost of living. This is particularly beneficial for new rental property owners who are looking to keep costs low while building their business. Despite this, Columbus has a strong economy and is home to many major employers, which means there is a steady stream of business travelers and people relocating for work who are in need of short-term accommodations. The Intel chip plant development in New Albany and huge OSU Wexner Medical Center additions will bring literal TONS of traveling construction professionals and nurses for years to come. Also, we have the fortune of having two of the largest corporations in the world headquartered in our city: The Ohio State University and Nationwide Insurance Company. This all presents an excellent opportunity for rental property owners to provide these individuals with a comfortable and affordable place to stay while generating income.

In addition to the thriving business climate, Columbus also boasts a thriving tourism industry, attracting over 50 million visitors each year. Our city is a midwest hub for arts, music, and culture. Some of our unique hot-spots are the new Crew Stadium, the Short North Arts District, and the one of a kind, historic German Village. With so many attractions and a thriving food and arts scene, it's no wonder that tourists flock to this city. As a result, there is a constant demand for short-term rentals from leisure travelers visiting Columbus for weekends or longer vacations. Additionally, Columbus frequently hosts major conferences, sports events, and concerts that can generate many nights of bookings for rental property owners. We have a running list of major events happening throughout the year This presents an excellent opportunity to make a profit while also providing a valuable service to visitors to the city.

Finally, a huge reason why Columbus is a great place to start investing is because it has a relatively low regulatory environment for short-term rentals. This makes it easy to operate rentals legally and profitably. Fun fact, I had a large impact on the creation of the current STR regulations here in Columbus. In late 2018, myself and a few other concerned investors went to the city and suggested what the rules and regulations should be, versus the city suggesting to us. Most investors would wait for the city to make the laws because they prefer it without laws and want that to last as long as possible. We wanted to do it the right way. So we petitioned for favorable legislation and regulations instead of the city having a knee-jerk reaction or placing an outright ban on short-term rentals. Due to this, the city has minimal restrictions on short-term rentals and modest taxes compared to many other cities. You’re welcome ;) Having regulations and legislation in place protects both the investors and guests alike. On one hand, it covers the investors by limiting their liability and protecting against any uncovered losses. It also levels the competitive landscape by providing a barrier to entry for any shoddy or inexperienced investors. On the guest side, it provides a consistent and protected experience for all who visit Columbus. Having the correct safety regulations in place protects and enhances the short-term rental experience for everyone! 

Columbus is a quickly growing, beautiful city that provides a host of benefits for anyone looking to start a short-term rental business. With its low cost of living, strong economy, vibrant tourism industry, and favorable regulatory environment, Columbus presents an opportunity that should not be overlooked. Don't hesitate to take advantage of all that this city has to offer by establishing your short-term rental business here.