ALBUQUERQUE, N.M. (KRQE) – Albuquerque continues to see a major housing shortage. Now, three city councilors are focusing on short-term rentals to help address the issue.
New legislation expected to go in front of city council would limit the number of short-term rentals in the city. That means there will not be as many Airbnbs in Albuquerque.
In the proposed ordinance, a short-term rental is any property that is rented out for 29 days or less, and people would be limited to only having three short-term rental properties in the city.
The city would also limit the number of permits it would issue to 1,200 for the entire city. It would also require a property manager of an Airbnb to live within 20 miles of Albuquerque.
According to the city, it would mitigate the over usage of short-term rentals and increase the number of affordable houses available for people to live in.
If passed, a person who does not comply in three instances will lose the right to have the dwelling as a short-term rental for two years and can’t use the property.
The cost for a permit would be $120 and $90 to renew. The ordinance is expected to be heard in council next week.