Is Short Pump, Virginia Good for Airbnb Investment?

To start an Airbnb in Short Pump, Virginia, begin by researching Henrico County's zoning regulations and short-term rental ordinances, as Short Pump falls under Henrico County jurisdiction which typically requires a conditional use permit for properties not zoned for commercial use and may have restrictions on rental duration and occupancy limits. Contact Henrico County's Planning Department to obtain necessary permits, which usually include a business license, zoning compliance certificate, and potentially a conditional use permit that can take 60-90 days to process and costs approximately $500-1,500. Find a suitable property in Short Pump's residential areas near shopping centers like Short Pump Town Center, ensuring it meets county requirements for parking, safety, and neighborhood compatibility. Furnish the property with quality furniture, linens, and amenities targeting business travelers and families visiting the area's retail attractions, budgeting $15,000-25,000 for a complete setup. Create listings on Airbnb and VRBO with professional photography highlighting proximity to Short Pump Town Center, Innsbrook, and Richmond attractions, setting competitive rates around $80-150 per night based on local market analysis. Implement management systems including automated messaging, professional cleaning services costing $75-100 per turnover, 24/7 guest support, and compliance with Virginia's 5.3% state sales tax plus Henrico County's local taxes, while maintaining required insurance coverage and regular property inspections to ensure continued permit compliance.

To identify profitable short-term rental properties in Short Pump, Virginia, focus on locations within 2-3 miles of major attractions like Short Pump Town Center, Innsbrook After Hours venues, and corporate headquarters such as Capital One and Altria, while prioritizing properties near West Broad Street (Route 250) for easy highway access. Target 3-4 bedroom single-family homes or townhouses built after 1990 with modern amenities, full kitchens, dedicated workspaces, and parking for 4+ vehicles, as business travelers and families visiting nearby companies drive significant demand. Conduct pricing analysis using AirDNA and Mashvisor to benchmark against comparable properties, aiming for nightly rates between $120-180 with occupancy targets of 65-75% annually, while analyzing seasonal patterns around corporate events and holiday shopping at Short Pump Town Center. Research competition within a 5-mile radius using Airbnb and VRBO searches, identifying gaps in luxury amenities or pet-friendly options, and monitor properties near Glen Allen and Henrico County government facilities. Utilize tools like Rabbu, STR Helper, and local MLS data through Richmond Association of Realtors, while connecting with Short Pump-specific Facebook groups and consulting with local property managers like RedAwning or Vacasa who understand Henrico County's STR regulations and tax requirements.

To obtain an Airbnb/STR permit in Short Pump, Virginia, you must apply through Henrico County since Short Pump is an unincorporated community within the county. Begin by contacting the Henrico County Planning Department at (804) 501-4602 or visiting their office at 4301 East Parham Road to obtain a Conditional Use Permit application, as short-term rentals typically require this designation in residential areas. Required documents include a completed CUP application, site plan showing parking and property layout, proof of property ownership or lease agreement, floor plan of the rental unit, contact information for a local property manager if you're not local, and evidence of liability insurance coverage of at least $1 million. The application fee is approximately $1,500 for the Conditional Use Permit, plus additional fees for required public notices estimated at $200-300. Submit your complete application to the Planning Department, which will schedule a public hearing before the Planning Commission within 60-90 days. If approved by the Planning Commission, the application proceeds to the Board of Supervisors for final approval, adding another 30-45 days to the process. Henrico County requires STR properties to maintain adequate off-street parking (typically 2 spaces), limit occupancy to 2 people per bedroom plus 2 additional guests, maintain quiet hours from 10 PM to 7 AM, and provide 24/7 contact information for a responsible party. Once approved, you must also obtain a business license from Henrico County for approximately $50 annually and comply with all Virginia state tax requirements including collecting and remitting occupancy taxes.

Short-term rentals (STRs) in Short Pump, Virginia are generally legal but subject to Henrico County regulations since Short Pump is an unincorporated community within Henrico County. As of 2023, Henrico County allows STRs in residential areas with specific requirements including obtaining a conditional use permit for properties in certain zoning districts, registering with the county, maintaining liability insurance, providing emergency contact information, and ensuring compliance with health and safety standards. The county requires STR operators to pay transient occupancy taxes and limits the number of guests based on bedroom count and parking availability. Recent changes around 2022-2023 have strengthened enforcement mechanisms and clarified zoning requirements, with some residential neighborhoods having additional homeowners association restrictions that may further limit or prohibit STR operations. Properties must meet all building codes and fire safety requirements, and operators face penalties for violations including noise complaints or exceeding occupancy limits.

The best areas for Airbnb investment in Short Pump, Virginia include the West End/Short Pump Town Center vicinity, which attracts business travelers visiting corporate offices like Capital One and Altria, plus shopping tourists drawn to the upscale Short Pump Town Center mall. The Innsbrook area is highly attractive due to its concentration of corporate headquarters and business parks that generate consistent weekday demand from executives and consultants. The Glen Allen/Wyndham neighborhoods offer appeal for families visiting the University of Richmond or attending events at the Richmond Raceway, while also serving business travelers preferring quieter suburban settings. The Tuckahoe/River Road corridor provides access to both Short Pump amenities and downtown Richmond attractions, making it ideal for leisure travelers exploring historic sites, breweries, and cultural venues. Areas near major hotels like those along West Broad Street indicate proven hospitality demand, while neighborhoods within 10-15 minutes of Richmond International Airport capture business travelers seeking convenient alternatives to traditional hotels.

Airbnb properties in Short Pump, Virginia are subject to multiple lodging taxes including Virginia's state transient occupancy tax of 5.3% and Henrico County's local transient occupancy tax of 7%, for a combined rate of 12.3% on short-term rental stays under 30 consecutive days. These taxes are typically collected by Airbnb directly from guests at the time of booking through their automated tax collection system, which began in Virginia around 2019, and the platform remits payments quarterly to the Virginia Department of Taxation and monthly to Henrico County. Hosts must register with both state and local tax authorities, obtain necessary business licenses, and may be required to file periodic returns even when Airbnb collects taxes on their behalf. Exemptions generally apply to stays of 30 days or longer, certain government and military travelers, and some nonprofit organization bookings, though documentation requirements vary. Properties generating over $200,000 annually or having more than 200 transactions may face additional reporting requirements under Virginia's marketplace facilitator laws, and hosts should maintain detailed records of all bookings, tax collections, and exemption claims for audit purposes.

Starting an Airbnb in Short Pump, Virginia requires approximately $450,000-$550,000 in total initial investment. Property purchase costs average $425,000 based on median home prices in the Short Pump area as of 2023-2024. Furnishing a 3-bedroom property typically runs $15,000-$25,000 including furniture, appliances, linens, and décor to create an attractive rental space. Initial setup costs including professional photography, listing creation, and marketing materials total around $2,000-$3,000. Permits and fees in Henrico County include business license ($50), short-term rental permit ($200-$500), and potential HOA approval fees totaling approximately $1,000. Insurance for short-term rentals costs $2,000-$4,000 annually, significantly higher than standard homeowner's insurance. Utility setup and deposits for electricity, water, gas, internet, and cable run $500-$1,000. First six months of operating costs including utilities ($1,200), cleaning services ($3,600), maintenance ($1,500), property management software ($300), and marketing ($1,000) total approximately $7,600, bringing the complete startup investment to roughly $453,000-$561,000 depending on property size and furnishing choices.

Airbnb properties in Short Pump, Virginia demonstrate strong profitability potential with average nightly rates ranging from $85-150 for typical 2-3 bedroom homes, generating monthly revenues of $2,500-4,500 during peak seasons. Operating expenses typically include 25-30% for Airbnb fees and taxes, $200-400 monthly for cleaning services, $150-300 for utilities, and $100-200 for maintenance and supplies, resulting in net profit margins of 35-45% for well-managed properties. Success factors in this Richmond suburb include proximity to major employers like Capital One and Altria, easy highway access, family-friendly amenities, and the area's appeal to business travelers and families visiting nearby attractions. A case study of a 3-bedroom townhome near Short Pump Town Center showed annual revenues of $42,000 with expenses of $24,000, yielding an 18% return on investment, while properties within walking distance of shopping and dining venues consistently outperform those requiring car travel by 15-20% in occupancy rates.

Based on Short Pump, Virginia market conditions, Airbnb investments typically generate annual ROI of 12-18% with cash-on-cash returns ranging from 8-14% depending on property type and location within the area. Properties near Short Pump Town Center and major corporate offices like Capital One's headquarters tend to perform at the higher end of this range. Initial profitability usually occurs within 8-14 months, with break-even on cash investment typically achieved in 18-24 months. The market benefits from consistent business travel demand, proximity to Richmond International Airport (15 minutes), and strong leisure tourism from nearby attractions. Average daily rates range from $85-140 depending on property size and amenities, with occupancy rates averaging 65-75% annually. Properties requiring minimal renovation can achieve faster profitability timelines of 6-10 months, while full renovations may extend the timeline to 15-20 months before reaching optimal returns.

STRSearch is a national platform that specializes in identifying profitable short-term rental properties for investors, including in the Short Pump, Virginia area. Local real estate agents in the Richmond metro area who focus on investment properties include agents from Long & Foster Real Estate, Coldwell Banker Residential Brokerage, and RE/MAX Commonwealth, many of whom have experience with Airbnb investment properties in Short Pump and surrounding Henrico County areas. National services like Mashvisor, BiggerPockets, and AirDNA provide market analysis and property identification tools for the Richmond market. Local property management companies such as RedAwning, AvantStay, and Richmond-based vacation rental management firms can assist with both property acquisition advice and ongoing management. Real estate investment groups in the Richmond area, including the Richmond Real Estate Investors Association, often have members specializing in short-term rental properties. Additionally, companies like Roofstock and Arrived Homes occasionally feature Richmond-area properties suitable for Airbnb conversion, while local mortgage brokers and lenders familiar with investment property financing in Virginia can facilitate purchases in the Short Pump market.