Running a short-term rental in Richmond can look like an easy win. Visitors come for VCU events, the river, concerts, and weekends in the Fan and Scott’s Addition, and nightly rates can be higher than a monthly lease. But a short-term rental is closer to a small hospitality business than a set-it-and-forget-it rental. The city has its own rules, and they decide who can run one and where.
I’m Joe, owner of We Buy Homes In Richmond. We’re family-owned, and I’ve been buying and selling property around Richmond since 2010. Here’s a plain look at the upsides, the downsides, and the city rules every owner should know. That includes owners who are starting to wonder if it’s time to switch to a regular lease or sell.
What counts as a short-term rental in Richmond
The City of Richmond defines a short-term rental as a stay of fewer than 30 consecutive days in a dwelling unit. That covers renting the whole house or just a room. It also doesn’t matter whether you list on Airbnb, Vrbo, or your own website. The current rules come from Ordinance No. 2023-235, which City Council adopted on September 25, 2023.
The city’s key rules
Here’s a summary of what the city’s Planning and Development Review page lays out:
- Owner only. The person running the short-term rental has to be the property owner.
- Primary residence in residential zones. In a residential zoning district, the rental has to be on the lot where the owner lives as their primary residence. The city checks DMV or voter registration records.
- One per lot in residential zoning districts. In non-residential districts, a multifamily building can have short-term rentals in up to ten units or one-third of the units, whichever is fewer.
- A permit every two years. The Short-Term Rental Permit costs $600 for two years. The building has to pass an inspection before the permit is issued, and the permit number has to appear on every ad.
- Occupancy limits. No more than eight adult guests at a time, and no double booking.
- Safety gear. Smoke detectors that meet the Virginia Residential Code, an accessible fire extinguisher, and carbon monoxide detectors in rooms used for sleeping or cooking.
- No events. Gatherings of people other than the registered guests aren’t allowed.
- No limit on nights, and the owner doesn’t have to be on site during a stay.
The city says zoning violations are a Class I misdemeanor and can bring a fine of up to $2,500. In other words, it’s worth getting this right.
If your property is in Chesterfield or Henrico instead of the city, the rules are different. Each county handles short-term rentals through its own zoning code. Call the county planning office before you assume the city’s rules apply.
The pros
- Higher potential income per night than a long-term lease, especially around busy weekends and events.
- Flexibility. You can block dates for family or for your own use.
- Less wear from long stays. You’re in the property often, so you spot problems early.
- No long-term lease. Guests leave on a set date.
The cons
- Income swings. Busy months pay for slow ones, and some months stay slow.
- Constant turnover. Cleaning, laundry, restocking, and guest messages at all hours.
- Higher operating costs. Furniture, utilities, internet, streaming, supplies, and platform fees all come out of your pocket.
- More paperwork. The city lists short-term rental taxes as due quarterly, on top of the biennial permit.
- The primary-residence rule. This is the one that catches people. If you move out of a house in a residential zone, you generally can’t keep running it as a short-term rental there.
- Neighbor complaints. Anyone can report a suspected violation to the city’s zoning office or RVA311.
When the numbers stop working
Owners usually reach a crossroads for one of a few reasons:
- You’re moving and can’t meet the primary-residence rule anymore.
- Bookings dropped and the property isn’t covering its costs. We wrote about what to do with a low-earning vacation rental in Richmond.
- Repairs are piling up after years of heavy turnover.
- You’re simply tired of being on call.
At that point you usually have three paths.
1. Convert it to a long-term rental
A 12-month lease brings steadier income and less day-to-day work. It also brings Virginia landlord-tenant law, screening, and the furniture question. If you go this way, start with our guides on how much rent to charge in Richmond and tenant screening in Virginia.
2. List it with an agent
This can work well if the property is in great shape and you can wait for the right buyer. Keep in mind that guests with future bookings will need to be handled first, and showings are tough when the calendar is full.
3. Sell it as-is for cash
This is what we do. We buy houses as-is, in any condition, so you don’t have to fix up the place or stage it for buyers. There are no commissions or fees, and we pay the closing costs. We can close in about 7 days, or on a date that lets you finish your last bookings. We buy single-family homes, multifamily properties, and land across Richmond, Chesterfield, Henrico, Chester, Midlothian, and nearby. Here’s how our process works.
Thinking about getting out?
If your short-term rental isn’t the business you hoped it would be, let’s talk numbers. Request a cash offer here or call (804) 293-0208. I reply within 3 hours, and there’s never any obligation.
This article is general information, not legal or tax advice. The rules summarized here come from the City of Richmond’s short-term rental page for Ordinance No. 2023-235 as of October 2026. Confirm the current rules with Richmond Zoning Administration or your county planning office, and talk with a tax professional about your situation.