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Short-term rentals (STRs), often referred to as "vacation rentals," are legal in Albuquerque, New Mexico, but come with specific regulations imposed by the City of Albuquerque. These rentals primarily thrive in urban apartments and homes, where they cater largely to a mix of tourists and business travelers attracted by the city's cultural offerings and business environment. The market sees a diverse demand, supported by events, local attractions, and the scenic backdrop of the Sandia Mountains, making both small efficiencies and larger homes popular among visitors. STR operators must obtain a city permit, which incurs an initial fee of $120 and an annual renewal fee of $90. Additionally, hosts are responsible for collecting a 5% Lodgers' Tax and a 1% Hospitality Fee from guests. Regulations are designed to ensure community stability, such as limiting the total number of STR permits to 1,200 citywide and enforcing occupancy limits. Enforcement is taken seriously, with penalties of up to $500 per day for violations. The Albuquerque City Council, through its Short-Term Rental Task Force, oversees these regulations. For more details, visit the official city resources: Albuquerque's Short Term Rentals and Short Term Rental FAQ.
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