Is Fairlawn, Virginia Good for Airbnb Investment?

To start an Airbnb in Fairlawn, Virginia, begin by researching local zoning laws and regulations through Pulaski County's planning department, as Fairlawn falls under county jurisdiction and may require special use permits for short-term rentals. Contact the Pulaski County Planning Commission to understand specific requirements, which typically include obtaining a business license ($50-100 annually), registering for Virginia state taxes, and potentially securing a conditional use permit if operating in residential zones. Find a suitable property by searching local real estate listings or considering your existing home, ensuring it meets safety standards and has adequate parking. Furnish the space with essential amenities including quality bedding, kitchen supplies, WiFi, and safety equipment like smoke detectors and fire extinguishers, budgeting approximately $3,000-8,000 for initial setup. Create your Airbnb listing with professional photos, competitive pricing (research similar properties in nearby Radford or Blacksburg for comparison, likely $60-120/night), and detailed descriptions highlighting proximity to Virginia Tech (20 minutes) and outdoor activities along the New River. Manage your property by establishing check-in procedures, maintaining cleanliness standards, responding promptly to guests, and considering hiring local cleaning services in the New River Valley area. Ensure compliance with Virginia's 5.3% state sales tax on short-term rentals and maintain proper insurance coverage, as standard homeowner's policies may not cover commercial activities.

To identify profitable short-term rental properties in Fairlawn, Virginia, focus on properties within 2-3 miles of Virginia Tech campus and downtown Blacksburg, as this college town drives significant demand from visiting families, prospective students, and university events. Target 3-4 bedroom homes or condos with modern amenities, reliable WiFi, parking, and outdoor spaces that can accommodate groups of 4-8 guests typical for family visits. Analyze pricing using AirDNA and Mashvisor to benchmark against comparable properties in Blacksburg and Christiansburg, aiming for properties under $300,000 that can generate $150-250 per night during peak university periods (football season, graduation, move-in weeks). Research competition by studying existing Airbnb and VRBO listings within a 5-mile radius, noting occupancy rates, pricing strategies, and guest reviews to identify market gaps. Utilize tools like Rabbu, BiggerPockets calculators, and local MLS data through Virginia Tech area realtors, while monitoring STR regulations in Montgomery County and ensuring properties meet local zoning requirements for short-term rentals.

To obtain an Airbnb/STR permit in Fairlawn, Virginia, you must first contact the Pulaski County Planning and Zoning Department since Fairlawn falls under county jurisdiction, typically located at the county courthouse or administrative building on Third Street NW in Pulaski. Required documents include a completed short-term rental application, proof of property ownership or lease agreement with landlord consent, site plan showing parking and access, certificate of occupancy, business license from Virginia State Corporation Commission, liability insurance certificate (minimum $1 million coverage), and floor plan indicating maximum occupancy. The application fee is approximately $150-250 with an annual renewal fee of $75-125, and you may need additional inspections costing $50-100 each. Submit your complete application to Pulaski County Planning Department, schedule required safety and zoning inspections, attend a public hearing if required (typically within 30-45 days), and await approval which generally takes 60-90 days total. Fairlawn-specific requirements include maintaining off-street parking for each rental unit, limiting occupancy to 2 people per bedroom plus 2 additional guests, providing 24/7 local contact information to neighbors, installing smoke and carbon monoxide detectors in all sleeping areas, ensuring compliance with residential zoning setback requirements, and registering with Virginia Department of Taxation for transient occupancy tax collection.

Short-term rentals (STRs) in Fairlawn, Virginia are generally legal but subject to local zoning regulations and state requirements. As a small unincorporated community in Pulaski County, Fairlawn falls under county jurisdiction rather than having its own municipal STR ordinances. Property owners must comply with Virginia's state tax requirements including collecting and remitting transient occupancy taxes, obtain proper business licenses, and ensure their properties meet safety standards including smoke detectors and carbon monoxide alarms. Pulaski County typically allows STRs in residential areas but may require special use permits or conditional use permits depending on the specific zoning district and frequency of rental. Properties in certain residential neighborhoods may face restrictions on the number of guests, parking requirements, and noise ordinances. Recent changes in Virginia law around 2019-2021 have given localities more authority to regulate STRs while maintaining property owners' rights to rent their homes, though specific recent changes in Pulaski County's regulations would need to be verified with local planning and zoning departments as rural counties often update their STR policies less frequently than urban areas.

The best areas for Airbnb investment in Fairlawn, Virginia are primarily concentrated around Virginia Tech's campus vicinity and the New River Valley region, particularly neighborhoods within 2-3 miles of the university such as areas near Prices Fork Road and University City Boulevard, which attract consistent demand from visiting parents, prospective students, and academic conference attendees year-round. The downtown Blacksburg adjacent areas, including neighborhoods near Main Street and the Corporate Research Center, offer strong potential due to business travelers visiting Virginia Tech's research facilities and corporate partners like companies in the Virginia Tech Corporate Research Center established in the 1980s. Properties near recreational areas along the New River and Claytor Lake State Park (approximately 15 minutes from Fairlawn) capitalize on outdoor tourism, fishing, and boating enthusiasts, particularly during spring through fall seasons. The Radford University proximity areas also provide secondary market opportunities, benefiting from overflow demand during major university events, graduation weekends, and football seasons when both Virginia Tech and Radford University host large gatherings, with peak demand typically occurring during August move-in periods, homecoming weekends in October, and May graduation ceremonies.

Fairlawn, Virginia, located in Pulaski County, subjects Airbnb properties to Virginia's state transient occupancy tax of 5.3% on gross receipts from stays of less than 30 consecutive days, which is automatically collected by Airbnb and remitted to the Virginia Department of Taxation on behalf of hosts. Pulaski County imposes an additional local transient occupancy tax of 2% on short-term rental accommodations, which hosts must collect directly from guests and remit quarterly to the Pulaski County Treasurer's Office by the 20th day following each quarter end. The Town of Fairlawn may impose its own municipal lodging tax of up to 2%, though this varies by local ordinance and would require separate registration and remittance by hosts to the town clerk's office. Combined tax rates typically range from 7.3% to 9.3% depending on local municipal taxes, with exemptions generally applying to stays exceeding 30 consecutive days, government employees on official business, and certain nonprofit organization bookings. Hosts operating in Fairlawn must register with both state and local tax authorities, maintain detailed records of all bookings and tax collections, and may be required to obtain a local business license depending on the frequency and scale of their rental operations.

The total cost to start an Airbnb in Fairlawn, Virginia is approximately $285,000-$315,000. Property purchase costs around $180,000-$200,000 based on median home prices in rural Southwest Virginia. Furnishing a 2-3 bedroom property requires $15,000-$25,000 for quality furniture, bedding, kitchen essentials, and decor. Initial setup costs including professional photography, listing creation, and marketing materials total $2,000-$3,000. Permits and fees vary but expect $500-$1,500 for business licenses, zoning permits, and potential HOA approvals. Insurance including liability and property coverage adds $2,000-$3,000 annually. Utility setup and deposits for electricity, water, internet, and cable cost $1,000-$1,500. First six months operating costs including utilities ($600/month), cleaning supplies ($200/month), maintenance reserves ($300/month), property management software ($50/month), and marketing ($100/month) total approximately $7,500. Additional considerations include potential property improvements ($5,000-$10,000) and working capital reserves ($10,000-$15,000) for unexpected expenses and vacancy periods.

Airbnb properties in Fairlawn, Virginia show moderate profitability potential with average nightly rates ranging from $75-120 depending on property size and amenities, generating approximately $18,000-35,000 in annual gross revenue for properties with 60-70% occupancy rates. Operating expenses typically consume 40-50% of gross revenue, including cleaning fees ($25-40 per turnover), property management (10-15%), utilities ($150-250 monthly), insurance ($800-1,200 annually), and maintenance costs averaging $2,000-4,000 yearly. Net profit margins generally fall between 15-25% after expenses, with successful properties near outdoor recreation areas like Claytor Lake State Park or those offering unique amenities like hot tubs or fire pits achieving higher occupancy and premium pricing. Properties within 30 minutes of Virginia Tech in Blacksburg benefit from football weekend demand and family visit traffic, with some hosts reporting $200+ nightly rates during peak university events. Success factors include professional photography, responsive communication, consistent 4.8+ star ratings, and strategic pricing adjustments for seasonal demand, with the most profitable properties being well-maintained 2-3 bedroom homes or cabins that cater to families and small groups seeking rural Virginia experiences while maintaining easy access to regional attractions and universities.

Airbnb investments in Fairlawn, Virginia typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% based on current market conditions. Properties in this area, particularly single-family homes and townhouses priced between $200,000-$350,000, can achieve profitability within 18-24 months when properly managed and marketed to business travelers visiting nearby Radford University and outdoor enthusiasts exploring the New River Valley region. The market benefits from consistent demand due to Virginia Tech proximity in Blacksburg (45 minutes away) and seasonal tourism for outdoor activities, with peak earning months generating $150-$250 per night for well-appointed 2-3 bedroom properties. Initial investment requirements typically include 20-25% down payment plus $15,000-$25,000 in furnishing and setup costs, with average monthly gross revenues of $2,500-$4,200 depending on property size and amenities, while operating expenses including cleaning, utilities, insurance, and platform fees generally consume 35-45% of gross income.

STRSearch is a leading national platform that specializes in identifying profitable short-term rental properties for investors looking in Fairlawn, Virginia. Local real estate agents in the area include Coldwell Banker Townside Realtors, RE/MAX in Radford (serving the New River Valley), and Long & Foster Real Estate which have agents familiar with investment properties in Montgomery County. National services that help investors include AirDNA for market analysis, Mashvisor for property analytics, BiggerPockets for investor networking and deal finding, and Awning for short-term rental investment guidance. Regional companies such as Blue Ridge Property Management and New River Valley Property Services offer property management for Airbnb investments. Additional local agents include Keller Williams New River Valley, Century 21 New Millennium, and independent agents like those at Virginia Tech Realty who understand the area's proximity to Virginia Tech and seasonal rental demand patterns.