Hot Springs
Hot Springs / Lake Hamilton / Lake Ouachita
Spa-and-racetrack year-round destination with three-jurisdiction split: City of Hot Springs (HARD-CAPPED at 400 residential STR licenses, currently CLOSED to new R-zone licenses since 7/1/2025; non-residential C/I zones still open), Garland County unincorporated (lake areas, no county STR ordinance), and Hot Springs Village POA (only $50/yr registration, otherwise permissive). Oaklawn Racing Dec 12-May 2 meet drives Q1 ADR premium; Lake Hamilton/Ouachita drive Memorial-Labor Day. Arbitrage gold lies outside city residential zones.
City of Hot Springs hit 400 residential STR cap and froze new R-zone licenses 7/1/2025 with no waitlist. Non-residential zones (C-TR, CN, CMU, CG, CBD, IL, IH, IMU) still open. Surrounding Garland County unincorporated has no STR ordinance. HSV POA only requires $50/yr registration. City penalties are stiff ($1K-$4K + $500/day continuing + water shutoff).
Hot Springs deep-dive: full report ships with your first pack.
Permitted zones, banned zones, HOA-permissive buildings, friendly PMs, ADR/LTR benchmarks, seasonality, and red flags — all delivered alongside your 50 ranked leads.