If you’re renting out a short-term property in Albuquerque, you’ll need to understand the various seasonal factors at play, including tourism, seasonal events, and the academic calendar.
This is useful information even if you’re renting out a long-term residential property because you’ll find that there’s more demand during specific seasons and slower periods when it feels like no one is renting homes.
As Albuquerque property management experts, we’re locked into the seasonal shifts of our market. We’ve put together a snapshot of what you need to know.
Consider the Unofficial Albuquerque Rental Market Calendar
- Spring (March – May)
Spring in Albuquerque sees a moderate increase in short-term rental demand, particularly from tourists visiting for events like the Albuquerque International Balloon Fiesta. It’s also a good time to list rental homes with a long-term lease as people generally prefer to move in the late spring and early summer.
- Summer (June – August)
Summer is the peak season for short-term rentals, with many vacationers flocking to the area. If you’re renting out a long-term property, this is also a good time to increase rental rates. You’ll have plenty of demand.
- Fall (September – November)
The influx of university students and fall tourists keeps demand steady in all markets and for all property types.
- Winter (December – February)
Winter sees a dip in tourism, but this can be offset when you’ve got a short-term rental by marketing to snowbirds who may be seeking warmer climates for the season. Long-term renters are more likely to wait until after the holiday season to look for a new home.
Key Strategies to Maximize Profitability Year-Round
Marketing your property effectively is crucial. During peak seasons like summer, emphasize the proximity to popular attractions and events. In winter, highlight the comforts of your property for long-term stays.
Adjust your pricing, too. Raise rates during high-demand periods and offer discounts or special deals during slower months. This approach ensures you remain competitive while maximizing revenue.
Leverage local events to boost occupancy. For example, the Albuquerque International Balloon Fiesta in October attracts thousands of visitors. Tailor your marketing campaigns to highlight these events and attract short-term renters. You’ll get a higher per-night rate, too.
Leveraging Albuquerque Property Management Services
Partnering with a local property management company can significantly ease the burden of managing seasonal fluctuations. We can offer expertise in market trends, dynamic pricing, and targeted marketing strategies. We’ll also handle day-to-day operations, ensuring your property is occupied, profitable, protected, and well-maintained.
Navigating Albuquerque’s seasonal rental market may seem a bit confusing, especially if you’re not local to the area. But, with the right strategies, you can ensure profitability throughout the year.
You don’t have to figure all of this out on your own. As we said, property management in Albuquerque is available and it’s very good at helping owners navigate the seasonal market, the shifting tenant demands, and the best pricing strategies.
We’ve been doing this for years, and we invite you to leverage our experience. Contact our team at Bruni Karr Agency.
