If you’re interested in buying a property in Santa Fe and want to rent it out for part of the year, here are some of the things you need to now.
Residentially Zoned Properties Are Generally Restricted
Short term rental units aren’t typically allowed in residentially-zoned property, but there are some exceptions. To see if the property you’re interested qualifies, you can check the City of Santa Fe, New Mexico Short Term Rental Ordinance.
What Generally Applies
What follows are some of the requirements you should be aware of, but remember that you’ll have to check with the City to get detailed information on what’s required of you if you want to rent a property short term.
You’re not allowed to make more than one rental within a seven-day consecutive period. Additionally, you can only rent a property 17 times during a calendar year.
If you want to provide a one-bedroom space, you must provide one off-street parking space. If you have two or more bedrooms in the property you wish to rent, you have to provide two off-street parking spaces for the tenants. Your renters are not allowed park RVs on the property or on the street next to it.
You will have to make records of the rental available to the City and your residents have to be made aware, in writing, of city ordinances. The ordinances you’ll have to provide them with information about include, but aren’t limited to:
- City ordinances on nuisances
- City ordinances on water conservation
The owner remains liable for all the taxes on the property and has to maintain property insurance. You’ll have to provide proof of this insurance at the time your permit is issued
In order to receive a permit from the City, you’ll have to provide a phone number at which you can be reached twenty-four hours per day, seven days per week to deal with complaints regarding the unit. You’ll also have to provide a notarized statement with your signature declaring that you’ll comply with City codes applicable to the property. You cannot transfer your permit to any other person or property.
You’re also required to notify anyone who owns a property within 200 feet of the one you plan on renting that you will be renting that property out.
You can read the full ordinance here.
You can get in touch with the City of Santa Fe at their website, located at SantaFeNM.gov.