KUNM

Santa Fe Approves More Vacation Rentals

May 11, 2016

UPDATED 5/12 6a: The Santa Fe City Council voted unanimously Tuesday night to raise the number of approved short-term rental units in the city from 350 to 1000. The New Mexican reports 19 people made public comments on the plan, some concerned, others supportive.

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The Santa Fe City Council is considering a measure to allow more short-term vacation rentals. 

Short term rentals, like the ones on the website Airbnb, are big business in Santa Fe. But the city only allows 350 rentals at a time. A recent report contracted by the city council estimated that hundreds of property owners were leasing their homes illegally, and costing the city millions in lost tax revenue.

Some affordable housing advocates like Tomas Rivera of the Chainbreaker Collective say this could be a chance for the city to bring in more money for low-income rental assistance.

“On one hand we want to see more revenue coming in. On the other hand we want to see permanent housing, and affordable housing for people,” he said.

 If tonight’s measure passes, the city will be able to collect fees and taxes from 1,000 short-term rental units. But that will still leave a large shortage for affordable, long-term rentals in the capitol.