Airbnb & VRBO Performance in Farmington New Mexico.

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

Registration and Licensing

• All short-term rental properties must be registered and obtain a business license from the City of Farmington. This includes an inspection for safety and compliance with building codes.

Zoning Laws

• Farmington has zoning laws that may restrict the ability to host short-term rentals in certain areas.

Lodgers' Tax

• Hosts are responsible for collecting and remitting the city's Lodger's Tax, which is currently set at 5%. Payments must be submitted before the 20th day of each month to the City of Farmington Finance Division.

Compliance and Inspections

• Properties must comply with safety and building codes, and hosts must ensure regular maintenance due to the area's desert climate.

Local Ordinances and Updates

• Hosts must stay informed about updates to the Unified Development Code (UDC) and Municipal Code, which may affect short-term rental operations. Public hearings and meetings are scheduled for review and feedback on these updates.

Partnerships and Community Compliance

• Hosts are encouraged to engage with local cleaning and maintenance services to ensure properties remain in top condition. Additionally, leveraging local partnerships with tourism operators can help increase visibility and bookings while ensuring compliance with community standards.

State Regulations

• Vacation rental property owners must comply with the new state law that went into effect on January 1, 2020, requiring the collection of lodgers’ tax.

Advocacy and Support

• Hosts can seek support and resources from the New Mexico Short-Term Rental Association (NMSTRA), which provides advocacy, regulatory support, and educational resources for short-term rental hosts and managers.

Top Neighborhoods for Airbnb Revenue in Farmington, New Mexico

1. Downtown Farmington

• Appeal: Proximity to historic downtown Farmington, local restaurants, and the newly revitalized downtown area. Guests can easily access attractions like the Four Corners Monument, Shiprock, and Mesa Verde, making it an ideal base for exploring the region.

2. McGee Park Area

• Appeal: This area is within walking distance of McGee Park, which hosts various events, and is close to Sunray Casino. It also offers easy access to rivers and lakes for fishing and has ample parking for boats. The presence of family-friendly amenities and local events makes it highly attractive to guests.

3. Central Farmington (Butler and 20th Street)

• Appeal: Located in the heart of Farmington, this area is minutes away from key locations such as the Sports Complex, multiple grocery stores, and various restaurants. The proximity to Jaycee Park, which features a playground, basketball court, and walking trail, adds to its appeal for families and those seeking outdoor activities.

4. Westside of Farmington

• Appeal: This neighborhood is close to the airport, Connie Mack fields, and several local restaurants. It serves as a convenient base for visiting attractions like the Bisti Badlands, Choke Cherry Canyon, Navajo Lake, and Chaco Canyon. The blend of convenience and access to natural attractions makes it highly appealing.

5. Foothills Area

• Appeal: Known for its quiet yet central location, this area is close to supermarkets, shopping centers, restaurants, parks, and trails. The Foothills Casita and other properties in this area offer a comfortable and inviting experience, making it a favorite among guests seeking a balanced stay.

These neighborhoods are highly rated for their location, cleanliness, and the variety of amenities and attractions they offer, which contributes to their high revenue generation on Airbnb.

Crafting an Inviting Airbnb in Farmington, New Mexico: Tips for Furnishing and Design

Embrace Local Culture and History

• Incorporate elements that reflect the rich Indigenous heritage of the area, such as Navajo and Ancestral Puebloan art, textiles, and pottery.
• Use traditional patterns and colors in furnishings and decor to honor the local culture.

Highlight the Natural Beauty

• Bring the outdoors in by using natural materials like wood, stone, and earthy tones in your design.
• Add large windows or skylights to showcase the stunning landscapes and unique rock formations of the Bisti Badlands and surrounding areas.

Blend Old and New

• Mix vintage pieces with modern furnishings to reflect the blend of old-world charm and contemporary vibes found in downtown Farmington.
• Incorporate retro elements, such as mid-century furniture, to nod to the city’s historical architecture.

Celebrate the Arts Scene

• Display local artwork and crafts, such as Navajo rugs, jewelry, and folk art, to support the local arts community.
• Consider adding a guitar or other musical instrument as a nod to the city’s thriving music scene, including rez metal.

Outdoor and Adventure Themes

• Use decor that reflects the city’s love for outdoor adventures, such as off-roading and water sports. This could include vintage outdoor gear, maps, and photographs of local landscapes.
• Incorporate elements like reclaimed wood and natural fibers to evoke a sense of adventure and the great outdoors.

Stargazing Inspiration

• Since Farmington is known for its dark skies, consider adding astronomy-themed decor or a telescope for guests to enjoy stargazing.
• Use lighting that mimics the night sky, such as star-patterned ceiling lights or dimmable lamps to create a celestial ambiance.

Local Materials and Crafts

• Use locally sourced materials and handmade crafts to furnish and decorate the space. This could include handmade soaps, pottery, and other local products.

Cozy and Inviting Spaces

• Create cozy nooks with comfortable seating and warm lighting to make guests feel at home.
• Incorporate plush textiles and warm colors to counterbalance the cool desert evenings.

Educational Touches

• Add books, brochures, and maps about the local history, culture, and outdoor attractions to educate and inspire guests.
• Include information about the nearby ruins, museums, and natural wonders to encourage exploration.

By incorporating these elements, you can create an Airbnb that not only reflects the unique style of Farmington, New Mexico, but also provides an inviting and culturally rich experience for your guests.

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

To ensure the success of a short-term rental business in Farmington, New Mexico, several practical tips can be implemented to enhance the guest experience and comply with local regulations.

Noise Regulations and Quiet Hours

Inform your guests about quiet hours through clear communication in your listing and in a digital or physical house manual. This helps maintain a respectful environment for both guests and neighbors, adhering to any local noise regulations.

Comprehensive House Manual

Create a detailed digital and physical house manual that includes essential instructions, such as Wi-Fi passwords, appliance usage, and emergency contact information. This manual can also outline house rules, including quiet hours, to ensure guests are well-informed and comfortable.

Simplified Check-in Process

Utilize smart locks to streamline the check-in process, eliminating the need for physical key exchanges. Provide guests with clear instructions on how to access the property, along with photos of the entrance and any specific steps they need to follow.

Parking Instructions

Include detailed parking instructions with photos in your house manual to help guests navigate any parking challenges. This can include information on designated parking spots, parking restrictions, and alternative parking options if necessary.

By implementing these strategies, you can enhance guest satisfaction, reduce potential issues, and ensure your short-term rental business in Farmington, New Mexico, operates smoothly and efficiently.

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

House Cleaning Providers in Farmington, NM

Pro Homemaking Services, LLC

• Offers customized housekeeping and maid services.
• Located in Farmington, NM.
• Competitive pricing.

Epic Cleans LLC

• Provides residential and commercial cleaning services.
• Based in Farmington, NM.

Various Housekeepers on Care.com

• A list of individual housekeepers available for hire.
• Average posted rate of $16/hr as of November 2024.
• Average experience of 4 years.

Top-Rated House Cleaners on Angi

• A list of the top 10 best house cleaners in Farmington, NM.
• Costs vary between $30 and $50 per hour depending on house size and other factors.

Top-Rated House Cleaning Services on Thumbtack

• A definitive list of Farmington's house cleaning services rated by the community.

Short-Term Rental Management Fees in Farmington, New Mexico

In Farmington, New Mexico, the management fees for short-term rentals typically range from 10% to 30% of the rental revenue, varying based on the level of service provided. Full-service management, which includes comprehensive tasks such as guest communication, marketing, and maintenance, tends to be on the higher end of this spectrum. For instance, companies like Summer and Elevated Management Group offer full-service packages that include services like property listing on multiple websites, tenant screening, rent collection, and emergency repair handling, often charging around 20% of the booking revenue.

Basic services, which might only include listing and minimal support, can be less expensive. Additionally, hosts may incur extra fees for cleaning, repairs, or design services. For example, a cleaning fee is often charged to guests and can be factored into the overall management costs, while other consumable items and maintenance are covered through separate fees. Understanding these fee structures is crucial for property owners to manage their expenses and optimize their rental income effectively.