Short Term Rental Trends

New Mexico Airbnbs & STRs

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RedAwning offers vacation rental property management for busy vacation rental owners and Airbnb hosts. Starts at 10% of revenue.
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Current Vacation Rental Performance in New Mexico

Market Trends and Performance

The vacation rental market in New Mexico is showing mixed signals but overall remains competitive. Here are some key points:

  • Local Performance: New Mexico has seen some areas performing well, with places like Eddy, New Mexico, experiencing a 6% growth in revenue per available rental (RevPAR) during the summer of 2023, outpacing the national average.
  • Occupancy Rates: While national trends show a decline in occupancy rates, New Mexico's vacation rentals have maintained a relatively stable performance. However, some regions are underperforming compared to 2022, though not drastically.

Popular Locations

  • Santa Fe: Known for its cultural heritage and year-round tourism, Santa Fe is a prime location for vacation properties and short-term rentals. It boasts high median sales prices and significant growth in property values.
  • Other Areas: Rio Rancho, an up-and-coming suburb of Albuquerque, is also attracting real estate investors due to its lower cost of living and rich cultural sites.

Guest Preferences and Amenities

  • Amenities: Vacation rentals in New Mexico often feature modern conveniences such as WiFi, fully equipped kitchens, and comfortable living spaces. Guests also appreciate proximity to outdoor attractions, cultural sites, and adventure sports opportunities.
  • Comfort and Convenience: Key amenities include air conditioning, hot tubs, adequate bathrooms, and proximity to ski resorts. Mountain views and a cozy ambiance are also highly sought after.

Booking and Pricing

  • Pricing Variability: Prices for vacation rentals can vary depending on the dates selected, with peak rates typically seen during spring travel periods. Booking mid-week can result in better rates compared to weekend bookings.
  • Guest Reviews: Potential guests heavily rely on reviews and ratings to inform their decisions, with quietness, cleanliness, and overall satisfaction being crucial factors.

Overall, New Mexico's vacation rental market is stable, with certain areas and properties performing better than others. Understanding local trends and guest preferences is crucial for property managers to optimize their marketing and management strategies.

Current Airbnb & VRBO Trends by City

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FAQ

What does your pricing structure look like?
Our prices start at 10% of revenue. You can check out our pricing page for more information.
What types of vacation rental properties do you manage?
We manage a wide range of vacation rental properties, including single-family homes, condos, apartments, and luxury villas. Our services are tailored to meet the unique needs of each property type.
How do you handle guest support?
Our team provides 24/7 guest support, handling all inquiries, booking assistance, and any issues that may arise during a guest's stay. This ensures a seamless experience for your guests.
What is included in your damage waiver?
Our damage waiver provides $3,000 in coverage per booking, protecting you from accidental damages without the need for security deposits. This coverage is automatically included with every booking.
How does the payment process work?
We handle all aspects of the payment process, including processing payments, managing declined cards, and providing chargeback protection. Funds are deposited directly into your account, ensuring a smooth and secure transaction.
Can I still use my own booking website?
Absolutely! We offer a direct booking website service that allows you to showcase your property and accept bookings directly, bypassing the fees charged by major booking sites.
How do I get started with RedAwning?
Getting started is easy! Simply contact us for a free consultation, and our team will guide you through the onboarding process to ensure a smooth transition to our platform.
Why is RedAwning better than other property management companies?
RedAwning sets itself apart from other property management companies with a technology-driven, cost-effective approach that offers both full-service and partial management options, catering to vacation rental owners who value flexibility and control. Unlike competitors like Vacasa or AvantStay, which focus solely on full-service management with fees ranging from 25-50% of income, RedAwning provides a choice: comprehensive oversight including marketing, reservations, guest support, and maintenance, or a partial-service model emphasizing marketing and bookings across 50+ platforms like Airbnb, Vrbo, and Booking.com, potentially increasing bookings compared to narrower-channel options like Evolve. RedAwning's fees start at 10%. Having served the industry for 15 years, RedAwning combines experience with lower fees and rapid onboarding—listing properties in an afternoon—appealing to hosts who want efficiency without losing decision-making power, though it may not suit those needing extensive local support like Vacasa provides. Its scale (20,000+ properties across 10,000 destinations) and data-driven pricing give it an edge over Evolve’s simpler approach, making it a versatile choice for tech-savvy hosts seeking tailored management solutions.