How does Albuquerque, NM define a short-term (Airbnb) rental (STR)?
According to the City of Albuquerque, a short-term rental (STR) is a dwelling unit that is rented out for less than thirty (30) consecutive days. Examples of STRs include houses, apartments, and rooms rented out on platforms such as Airbnb, VRBO, and HomeAway.
Can an investor own more than one vacation rental property in Albuquerque, NM?
Yes, an investor can own more than one vacation rental property in Albuquerque, NM. However, each property must comply with the regulations set forth by the City of Albuquerque.
Does Albuquerque, NM have any zoning restrictions for short-term (Airbnb) rentals?
Yes, Albuquerque, NM has zoning restrictions for Airbnb rentals. A property that is located in a residential zone can be used as a short-term rental, provided that it meets specific requirements.
Can an investor own and operate their Airbnb property as a business entity in Albuquerque, NM?
Yes, an investor can own and operate their Airbnb property as a business entity in Albuquerque, NM. However, the business must be registered with the New Mexico Secretary of State, and the owner must comply with all city and state regulations related to short-term rentals.
Can investors register accessory dwelling units (ADU), duplexes, and multi-family homes in Albuquerque, NM as Vacation Rentals?
Yes, investors can register accessory dwelling units (ADU), duplexes, and multi-family homes in Albuquerque, NM as Vacation Rentals. However, each unit must comply with the requirements set forth by the City of Albuquerque.
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What is Albuquerque, NM’s requirement for obtaining a Vacation Rental License?
To obtain a Vacation Rental License in Albuquerque, NM, the property owner must submit an application to the City’s Planning Department. The application must include a site plan, proof of liability insurance, and proof of compliance with the city’s fire, safety, and building codes.
What are the costs associated with a Vacation Rental License in Albuquerque, NM?
The cost of a Vacation Rental License in Albuquerque, NM varies depending on the number of units on the property. For a property with one unit, the fee is $50. For a property with two to four units, the fee is $100. For a property with five or more units, the fee is $250.
Does Albuquerque, NM have Vacation Rental occupancy limits?
Yes, Albuquerque, NM has Vacation Rental occupancy limits. The maximum overnight occupancy is 2 people per bedroom plus a general allowance of two. This recognizes the potential use of a pull-out couch. For example, the maximum overnight occupancy for a two-bedroom unit is 6 people. An overnight occupant is a person over 12 years old.
Does Albuquerque, NM require an inspection for investors to obtain an STR license? What are the physical and structural requirements for a vacation rental?
Yes, Albuquerque, NM requires an inspection for investors to obtain an STR license. The inspection is conducted by the City’s Planning Department to ensure that the property meets all safety and building code requirements. Some of the requirements include having functioning smoke detectors, fire extinguishers, and carbon monoxide detectors, and the availability of a first aid kit.
Does Albuquerque, NM have any responsible agent requirements?
Yes, Albuquerque, NM, has responsible agent requirements. A responsible agent is a person who lives in Albuquerque and is authorized to act on behalf of the property owner. The responsible agent must be available 24/7 to respond to complaints or issues related to the short-term rental property.
Does Albuquerque, NM have specific insurance requirements for a Vacation Rental?
Yes, Albuquerque, NM, has specific insurance requirements for a Vacation Rental. Property owners must have liability insurance with a minimum of $1,000,000 per occurrence.
What are the duration and renewal terms of an Albuquerque, NM, Vacation Rental license?
The duration of an Albuquerque, NM, Vacation Rental license is one year, and the license must be renewed annually. Property owners must complete a renewal application and pay the appropriate fee to renew their license.
In Albuquerque, NM, do Airbnb and VRBO remit taxes on the host’s behalf? Are there any taxes the host must track and pay directly to Albuquerque, NM?
Yes, Airbnb and VRBO remit taxes on the host’s behalf in Albuquerque, NM. The City of Albuquerque requires that Airbnb rental hosts collect a lodgers’ tax of 5% from guests and remit it to the city. Airbnb and VRBO collect and remit this tax directly to the city. However, property owners are still responsible for paying state and federal taxes on their short-term rental income.
Who should I contact if I have questions regarding Albuquerque, NM Vacation Rentals?
If you have questions regarding Albuquerque, NM Vacation Rentals, you can contact the City of Albuquerque Planning Department at (505) 924-3860 or by email at planning@cabq.gov.
- Questions about the STR Permit website, setting up an account, or getting an activation code: BLT.str.support@govos.com or (888)751-1911
- Questions about how to submit for a STR permit or a pending STR permit: codeenforcement@cabq.gov
- Questions about business registration: businessregistration@cabq.gov
- Questions about remitting and or reporting Lodgers Taxes and Hospitality Fees: treasurypayment@cabq.gov
Are there any new laws in the pipeline?
According to the Albuquerque Journal, mayor Tim Keller wants to cap the number of vacation rentals in Albuquerque at 1,200 and, for the first time, regulate how many an individual owner can have.
The city needs the new Airbnb rental policies to “limit the effects of the housing shortage and increase the utilization of existing properties as long-term residential dwellings,” according to a memo and analysis Keller recently sent City Council President Pat Davis.
Keller announced the initiative’s broad strokes last fall and has continued rolling out more detailed elements, like a new short-term rental cap that would keep the total number to 1,200 citywide and prohibit any person from having more than three.
