Albuquerque, New Mexico: Short-Term Rental Market Overview (2024)

Table of Contents

Short Term Rental Management in Albuquerque New Mexico. Why choose RedAwning Experience in numbers Albuquerque, New Mexico: Short-Term Rental Market Overview Thriving Short-Term Rental Market in Albuquerque, New Mexico Short-Term Rental Regulations in Albuquerque, New Mexico for 2024 Permitting Requirements Business Registration Health and Safety Standards Insurance Requirements Local Management Occupancy Restrictions Zoning Laws Tax Requirements Good Neighbor Agreement Display of Permit Enforcement Top Airbnb Revenue-Generating Neighborhoods in Albuquerque, New Mexico 1. Old Town 2. Nob Hill 3. Downtown Albuquerque 4. Huning Castle 5. Uptown Furnishing and Designing an Inviting Airbnb in Albuquerque, New Mexico Tips for Creating a Unique and Welcoming Space Discover Albuquerque: Local Attractions and Insider Tips Must-Visit Attractions Insider Tips Practical Tips to Run a Successful Short-Term Rental Business in Albuquerque, New Mexico House Cleaning Services in Albuquerque, NM The Cleaning Authority The Maids Molly Maid of Greater Albuquerque Maid Brigade Short-Term Rental Management Fees in Albuquerque, New Mexico Short Term Rental Calculator Please try again:");let q=new Intl.NumberFormat("en-US",{style:"currency",currency:"USD",minimumFractionDigits:0,maximumFractionDigits:0});function pt(e){try{return JSON.parse(e).Message.replace(/[()'"]/g,"").split(",")[0].trim()}catch{return"We're having a problem with your request."}}const ht=(e,t,n)=>[(()=>{var s=nt(),i=s.firstChild,l=i.firstChild,a=l.nextSibling,r=a.firstChild,c=r.firstChild,d=i.nextSibling;return P(c,"src",ie),g(d,()=>q.format(e)),s})(),(()=>{var 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Short Term Rental Management in Albuquerque New Mexico.

RedAwning offers vacation rental property management for busy vacation rental owners and Airbnb hosts. Starts at 10% of revenue.

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Why choose RedAwning

RedAwning is a tech leader in full-service short-term rental management, powered by our exclusive, unmatched tools.

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Cost

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+10-30%

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4.8 stars

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managing STRs

Albuquerque, New Mexico: Short-Term Rental Market Overview

Albuquerque's short-term rental market is thriving, with a median occupancy rate of 66%, an average daily rate of $120, and an average annual host income of $28,000, making it a stable and profitable investment opportunity.

Market overview

Short Term Regulations

Neighborhood Performance

Design Tips

Insider Tips

Practical Tips

Local Vendors

Management fees

Market overview

Thriving Short-Term Rental Market in Albuquerque, New Mexico

Albuquerque's short-term rental market is experiencing a period of robust performance and stability. As of the latest data, a typical short-term rental listing in Albuquerque is booked for 241 nights a year, boasting a median occupancy rate of 66% and an average daily rate of $120. This translates to an average annual host income of $28,000, indicating a highly profitable venture. With 2,762 active Airbnb listings and lenient local regulations, investors are finding Albuquerque an attractive destination for short-term rental investments, driven by strong tourism demand and favorable market conditions.

Short Term Regulations

Short-Term Rental Regulations in Albuquerque, New Mexico for 2024

Permitting Requirements

Short-Term Rental Permit: Hosts must obtain a permit for each short-term rental property, with an initial application fee of $120 and an annual renewal fee of $90.

Business Registration

Business License: Hosting a short-term rental requires registering the business with the City of Albuquerque.

Health and Safety Standards

Compliance with Health & Safety Codes: Rentals must meet health and safety codes to protect guests and maintain standards.

Insurance Requirements

Short-Term Rental Insurance: Hosts must provide proof of short-term rental insurance as part of the permit application process.

Local Management

Local Property Manager: Designate a 24/7 local contact person who is responsible for maintenance and security, and must be within 20 miles of Albuquerque city limits.

Occupancy Restrictions

Maximum Occupancy: Limit of two adults per bedroom, and gatherings capped at twice the overnight occupancy up to 20 people. Gatherings must disperse by 10:00 PM local time.

Zoning Laws

Permissible Areas: Short-term rentals are subject to zoning provisions that specify which residential areas allow such rentals.
Density Caps: Restrictions on the number of rentals within a certain area, although recent proposals to limit these further were voted down by the City Council.

Tax Requirements

Lodgers' Tax and Hospitality Fee: Hosts must collect a 5% Lodgers' Tax and a 1% Hospitality Fee from guests for stays lasting 29 nights or fewer, in addition to the state's Gross Receipts Tax.

Good Neighbor Agreement

Good Neighbor Agreement: Hosts must post a "Good Neighbor Agreement" within the rental unit to inform guests about local rules and expectations.

Display of Permit

Permit Display: Hosts must display a copy of their city-issued permit within the rental unit and include the permit number in any advertising or listings.

Enforcement

Penalties for Violations: Fines of up to $500 per day for violations and the potential revocation of permits for repeat offenders.

Neighborhood Performance

Top Airbnb Revenue-Generating Neighborhoods in Albuquerque, New Mexico

1. Old Town

Appeal: Historic charm, traditional New Mexican dining, over 100 shops, galleries, and renowned museums. Guests can walk around the Old Town Plaza, visit the Sawmill Market, and enjoy the vibrant cultural center of the city.
Average Rating: 4.9-5 out of 5 for various listings, highlighting its popularity and guest satisfaction.

2. Nob Hill

Appeal: Trendy dining, fun cocktail bars, boutique shopping, classic Route 66 character, and highly walkable streets. The neighborhood offers a hip nightlife and unique shopping experiences.
Average Rating: 4.9-5 out of 5 for listings, indicating high guest satisfaction with the neighborhood's amenities and atmosphere.

3. Downtown Albuquerque

Appeal: Central location with easy access to restaurants, the farmer's market, zoo, train, and art galleries. Guests appreciate the modern elegance and convenience of being close to major attractions.
Average Rating: 4.8-5 out of 5 for various listings, reflecting the neighborhood's appeal for both short-term and long-term stays.

4. Huning Castle

Appeal: Proximity to Downtown, outdoor recreation options like Tingley Beach and the ABQ BioPark Zoo, and a variety of great restaurants. The area is popular among families, retirees, and young professionals.
Average Rating: While specific Airbnb ratings are not provided, the neighborhood's amenities and family-friendly activities make it highly appealing to guests.

5. Uptown

Appeal: Located in the heart of the city's business and shopping district, Uptown offers access to ABQ Uptown, various events at EXPO New Mexico, and a mix of local shops and national brands. The area is also known for its sporting events and arts and crafts exhibitions.
Average Rating: While specific Airbnb ratings are not provided, the neighborhood's central location and diverse activities contribute to its appeal.

These neighborhoods are highly sought after due to their unique blend of historical charm, modern amenities, and convenient access to various attractions and activities in Albuquerque.

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Design Tips

Furnishing and Designing an Inviting Airbnb in Albuquerque, New Mexico

Tips for Creating a Unique and Welcoming Space

1. Define Your Aesthetic and Theme

Reflect Albuquerque's unique style by incorporating elements such as Southwestern colors, textures, and motifs. Ensure your furniture and decor align with the local culture and history.

2. Understand Your Audience

Know your guests' needs and preferences. Albuquerque attracts a diverse range of visitors, so ensure your space is comfortable and functional for various types of travelers.

3. Measure and Optimize Your Space

Measure your rooms to determine the best layout. Ensure there is ample space to move around and that natural light sources are not blocked. Use space-saving furniture like sofa beds, folding tables, and storage beds to maximize functionality.

4. Choose Durable and Easy-to-Clean Furniture

Select furniture that is sturdy and easy to maintain. Opt for sofas with washable covers, high-quality towels in neutral colors, and dining tables that are resistant to wear and tear. Avoid real and faux leather as they are difficult to maintain.

5. Incorporate Smart Storage Solutions

Use beds with drawers, wall hooks, pegboards in the kitchen, and stackable containers to keep the space tidy and organized. Provide designated spots for guests' personal items, such as luggage racks.

6. Enhance with Mirrors and Lighting

Use mirrors to make the space feel bigger and brighter. Install a variety of lighting options, including overhead lighting and floor-level lamps, to create an inviting atmosphere. Maximize the use of natural light to add warmth and comfort.

7. Add Local Touches and Personality

Weave in distinctive elements that reflect your personality and the history of Albuquerque. Include striking accents such as vivid hues, captivating lighting fixtures, and local artwork to amplify the space's allure.

8. Ensure Accessibility and Comfort

Make your Airbnb accessible to guests with disabilities by incorporating features like ramps, wide doorways, and grab bars in bathrooms. Provide essential amenities such as a hairdryer, basic toiletries, and a first-aid kit.

9. Equip the Kitchen with Essentials

Ensure the kitchen is well-equipped with necessities like a coffee maker, microwave, toaster, and kettle. Stock basic pantry staples like salt, sugar, olive oil, and coffee to add convenience for your guests.

10. Maintain a Less is More Approach

Prioritize quality over quantity. Avoid cluttering the space with unnecessary items and focus on providing essential amenities that enhance the guest experience without overspending.

11. Use Plants and Decor Thoughtfully

Incorporate plants to breathe vitality into the environment, but consider using artificial plants to avoid maintenance challenges. Ensure any decor or plants do not trigger allergies, especially for families with children and pets.

Insider Tips

Discover Albuquerque: Local Attractions and Insider Tips

Must-Visit Attractions

1. Albuquerque International Balloon Fiesta

Attend the annual Balloon Fiesta in early October for a spectacular display of hundreds of colorful balloons. For the rest of the year, visit the Albuquerque Balloon Museum to learn more about ballooning.

2. Sandia Peak

Hike the La Luz Trail, take the tram, or ski down Sandia Peak for breathtaking views and outdoor adventures. The tram operates every 20-30 minutes.

3. Historic Old Town

Explore the historic Old Town Centre, founded in 1706, with over 100 shops, galleries, and restaurants. Don’t miss the San Felipe de Neri Church, the Rattlesnake Museum, and the Albuquerque Photographers Gallery.

4. Albuquerque Biopark

Visit the 64-acre Rio Grande Zoo, part of the Albuquerque Biopark, to see exotic animals in open-air habitats. Also, explore the Albuquerque Aquarium and Botanic Gardens.

5. Indian Pueblo Cultural Center

Learn about the history, culture, and traditions of the 19 New Mexican Pueblos. Enjoy events, food, native dances, and art markets.

6. Route 66 and Central Avenue

Cruise down Central Avenue to experience Americana at its best, with vintage motels, historic architecture, and the Route 66 Diner. Don’t forget to try their malts or milkshakes.

7. Paseo Del Bosque Trail

Take a walk, bike ride, or long run on this 16-mile trail that parallels the Rio Grande and passes through the cottonwood forest, Tingley Beach, and the Nature Center.

8. New Mexico Museum of Natural History

Explore dinosaur exhibits, journey through a volcano, experience time travel, and learn about the cosmos. The staff is knowledgeable and entertaining.

9. The Albuquerque Museum

Discover the history, art, and culture of Albuquerque, including a Route 66 exhibit and sections on Native American and Spanish settlers.

10. Breaking Bad Tour

- For fans of Breaking Bad and Better Call Saul, take a self-guided or trolley tour to visit iconic film locations and stop by the Candy Lady for some themed treats.

Insider Tips

1. Sunset at Hotel Parq’s Rooftop Bar

Enjoy panoramic views of the skyline and mountains with a cocktail at the Apothecary Lounge during sunset.

2. Local Breweries

Visit La Cumbre Brewing Co., Marble Brewery, Tractor Brewing Co., or Ponderosa Brewing to sample local beers.

3. Free Shuttle Service

Use the free shuttle service from Old Town and the Zoo to visit the Indian Pueblo Cultural Center if you don’t have your own transportation.

4. Timing for the Zoo

Plan your visit to the Albuquerque Zoo carefully, as the gates close at 5 PM sharp to avoid getting locked in.

5. Early Mornings for Balloon Fiesta

For the best experience at the Balloon Fiesta, arrive early to help with takeoff and enjoy the morning spectacle.

By sharing these attractions and tips, you can help your guests make the most of their visit to Albuquerque and experience the unique culture and beauty of the city.

Practical Tips

Practical Tips to Run a Successful Short-Term Rental Business in Albuquerque, New Mexico

To ensure a smooth and successful short-term rental business in Albuquerque, New Mexico, several practical tips can be implemented. First, it is crucial to adhere to the city's noise regulations by informing guests about quiet hours through a "Good Neighbor Agreement" posted in the rental unit. This agreement should outline local rules and expectations to maintain a harmonious environment.

Creating both digital and physical house manuals is also essential. These manuals should include detailed instructions on how to use appliances, Wi-Fi passwords, and other important information to make the guest's stay convenient and stress-free.

Simplifying the check-in process can significantly enhance the guest experience. Utilizing smart locks eliminates the need for physical key exchanges and provides guests with immediate access to the property. Additionally, providing clear parking instructions accompanied by photos can help avoid confusion and ensure that guests park in designated areas.

By following these tips, hosts can foster a positive relationship with their guests, comply with local regulations, and maintain a sustainable and profitable short-term rental business in Albuquerque.

Local Vendors

Here is a brief list of house cleaning providers in Albuquerque, New Mexico:

House Cleaning Services in Albuquerque, NM

The Cleaning Authority

Locally owned and operated, BBB-rated house cleaning service.
Uses eco-friendly, environmentally responsible cleaning products.
Offers a Detail-Clean Rotation System for thorough cleaning.
Fully bonded and insured.
Customizable services and free estimates.

The Maids

Team-cleaning approach with a 22-Step Cleaning Process.
Partnered with Mr. Clean® for proven cleaning products.
Offers seasonal, move-in, and specialty cleaning services.
Uses environmentally preferred cleaning products and tools.
Bonded, insured, and offers free customized quotes.

Molly Maid of Greater Albuquerque

Provides tailored cleaning services to meet unique home needs.
Offers one-time, recurring, and move-out cleaning services.
No contracts and customizable cleaning plans.
Trained professionals with all necessary equipment and supplies.
Backed by the Neighborly Done Right Promise™.

Maid Brigade

Family-owned, serving the Greater Albuquerque community since 2008.
Uses the exclusive PUREcleaning® system with electrolyzed water for safe and effective cleaning.
Offers in-depth cleanings including windows and carpets.
Customizable services to meet individual needs.
Focus on creating a healthier environment.

Management fees

Short-Term Rental Management Fees in Albuquerque, New Mexico

In Albuquerque, New Mexico, short-term rental management fees can vary significantly, typically ranging from 10% to 30% of the rental revenue, depending on the level of service provided. Full-service management, which includes comprehensive services such as guest communication, marketing, booking management, and property maintenance, tends to be on the higher end of this spectrum, often ranging between 12% to 30%.

Basic services, which may include only the essential management tasks like listing creation and booking management, can be less expensive, starting from around 8% to 10% of the rental revenue. Additionally, property owners may incur extra fees for services like cleaning, repairs, interior design improvements, and licensing support, further impacting the overall cost of managing their short-term rentals.

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Short Term Rental Calculator

Find out how much your property in Albuquerque should generate as a short term rental and look at the performance of properties around yours.

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Avg. Daily Rate (ADR)

Estimate of the average amount the home can charge a guest per night, based on how much similar properties nearby charge.

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Occupancy

Estimate of the % of days during a calendar year that the home will be occupied with guests, based on similar properties nearby.

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r=ft(),c=r.firstChild,d=c.nextSibling,u=d.firstChild;return g(d,a,u),r})()}}const gt="https://maps.googleapis.com/maps/api/geocode/json?key=AIzaSyCemPcbcnIKOSBqIaKDJikXy-HACEDhABM&type=json",Ce="https://api.hsforms.com/submissions/v3/integration/submit/2344584/6268f334-be31-4482-958b-1875c2e6d6dc",_t="https://api.ipify.org?format=jsonp&callback=?",At=e=>{for(var t=e+"=",n=document&&document.cookie?document.cookie.split(";"):"",s=0;s{let e="";const t=await fetch(_t);return t.ok&&(e=t.ip),e},bt=async e=>{const t=new Date().getTime(),n=await yt();let s=[];for(const[i,l]of Object.entries(e))s.push({name:i,value:l});return{url:Ce,method:"POST",headers:{Accept:"application/json","Content-Type":"application/json"},contentType:!1,body:JSON.stringify({submittedAt:t,fields:s,context:{hutk:At("hubspotutk"),ipAddress:n,pageUri:window&&window.location?window.location.href:"",pageName:window&&window.document?window.document.title:""}})}};function wt(e){const t=(""+e).replace(/\D/g,"");return t.length===10?"+1-"+t.substring(0,3)+"-"+t.substring(3,6)+"-"+t.substring(6):t.length===11&&t.startsWith("1")?"+1-"+t.substring(1,4)+"-"+t.substring(4,7)+"-"+t.substring(7):t.length>=11&&t.length<=15?"+"+t.replace(/(\d{1,3})(\d{3})(\d{3})(\d{4})/,"$1 $2 $3 $4").trim():"+"+t}function $t(e){const t=/^(?:\d{5}|\d{5}-\d{4})$/,n=/^[A-Za-z]\d[A-Za-z] \d[A-Za-z]\d$/,s=/^\d{5}$/;return!!(t.test(e)||n.test(e)||s.test(e))}async function Se(e){let t={city:"",state:"",latitude:"",longitude:""};try{const s=await(await fetch(gt+"&address="+e)).json();if(s.results&&s.results.length){const i=s.results[0],l=i.address_components;t.latitude=i.geometry.location.lat,t.longitude=i.geometry.location.lng,l.map(a=>{a.types.map(c=>{c=="locality"&&(t.city=a.long_name),c=="administrative_area_level_1"&&(t.state=a.short_name)})})}}catch{}return t}function xe(e){let t=[];const n=e.split(" ");return n.length>1?(t.push(n.slice(0,-1).join(" ")),t.push(n.slice(-1).join(" "))):(t.push(e),t.push(" ")),t}function Ct(e){const t=typeof e=="string"?JSON.parse(e):e;if(!t||t.length===0)return"No compareable information available.";let n="";return t.map(s=>{n+=`Vacation Rental: ${s.title}Property Details:- Annual Revenue: $${s.ltm.toLocaleString()}- Daily Rate: $${s.adr.toLocaleString()}- Occupancy Rate: ${s.occupancy}%- Airbnb URL: ${s.url}`}),n}async function St(e){const t=await bt(e);return await fetch(Ce,t)}var xt=x('