So, you just bought a home or condo in Ocean City, MD? Now, you’re ready to turn your new investment into a Vacation rental. Before you start to advertise your cool new beach getaway and accept bookings, you’ll need to get your rental license in Ocean City, MD.
In this article, I’ll share how you get your rental license, the costs, and resources to get you started in the right direction.
When applying for your rental license, there’s a fee that is submitted with your rental license application. The annual cost is $141.00. The rental license fee is broken down into two fees:
Depending when you apply for your license, you could pay a partial year fee. The rental license calendar year runs from May 1st to April 31st the following calendar year. The Town of Ocean City determines when a partial rental fee is due.
For example: If you decide to start advertising and accepting bookings on January 1st, a partial fee could be due, which would cover you for the remainder of that calendar year (until April 31st). The partial fee could be as much as half of the total annual rental license costs or $71.00.
The rental license cost in a R-1 district is different. The total annual cost is $191.00. The R-1 district license cost is broken down into two fees just like the standard license.
R-1 districts in Ocean City are areas which have single-family homes. Mostly year round residents live in R-1 districts. Vacation rentals in Ocean City, MD R-1 districts have additional restrictions compared to other districts like R-2 districts, R-3 districts, R-3a districts, and commercial districts. You can visit the Town of Ocean City's website to download the R-1 District rental license or download it here.
Real estate agents in Ocean City, MD who are experienced with vacation rentals are often familiar with the rental license application process. They can offer assistance. If you’re going to hire a vacation rental management company in Ocean City, MD, they’ll be able to give some assistance.
One of the great things about Ocean City, MD is the towns’ staff. They are helpful with the rental license application process and other issues regarding real estate zoning, permits, and other matters related to owning a property here.
Your rental license is your first step to rent your condo in Ocean City, MD. If you’re planning to rent your home or condo, you’ll need to be prepared for the costs of owning a vacation rental property in Ocean City, MD. Management fees, sales and room taxes, booking fees, and cleanings are just a few of the expenses.
First, you’ll need to get a copy of the rental license application, which is available on the Town of Ocean City’s website. You can also view a copy of it here.
You’ll need to complete the application and send it to the town of Ocean City, MD along with your fee for your rental license.
Completed applications can be mailed to:
Town of Ocean City, Maryland
P.O. Box 5000
Ocean City, Maryland 21843-5000
You can hand deliver it to City Hall at:
Town of Ocean City, Maryland City Hall
301 Baltimore Ave
Ocean City, MD 21842
Phone: (410) 289-8221
Educate yourself on the common costs of vacation rentals in Ocean City, MD. Check out my blog article “How much do vacation rentals in Ocean City, MD cost homeowners?”