A New Ordinance Could Affect Short-Term Rentals in Albuquerque

8/21/2023

Albuquerque, N.M.'s council on Aug. 21 discussed a new ordinance co-sponsored by Tammy Fiebelkorn that could affect short-term rentals in the city. Fiebelkorn said the new proposal tweaks the original ordinance to address Albuquerque's housing crisis; the original measure restricts the overall number of rentals in the community and how many rentals per person. The amendment would eliminate those regulations and instead impose a distance requirement that prevents renters from leasing multiple units in the same neighborhood or at least within 300 feet. "What we want to do with this proposal is make sure that while we're busy creating new housing stock, we're not going to lose a large amount of housing stock in the future to have it transitioned over to short-term rentals," Fiebelkorn explained. "I think we all know that we have plenty of short-term rentals, but we don't want to lose stock in the future." Only short-term rentals of 29 days or less would be impacted by the revised ordinance, according to Fiebelkorn. If approved, the measure will not affect the properties of people who are already renting, although future rentals may have to comply with the new distance rule. A final vote on the measure is expected in September.

KOAT 7 Albuquerque (NM) (08/20/23) Alyssa Munoz