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Santa Fe

New Mexico

Short Term Rental FAQs for Santa Fe, New Mexico.

How restricted are short term rentals in Santa Fe?

Light Restrictions

Does Santa Fe,New Mexico have any regulations for short term rentals?

Permit and registration needed. Working with LTAS software on enforcement.

Does Airbnb automatically remit taxes for short term rentals in Santa Fe?

Currently, Airbnb is collecting and remitting taxes on behalf of the host.

What are the city taxes for Santa Fe

New Mexico State FAQs

Is New Mexico a judicial or non-judicial state?

Judicial

In a judicial foreclosure state, the lender must go through the court system in order to foreclose on a property. This process can be longer and more expensive for the lender compared to a non-judicial foreclosure.

As a real estate investor, it is important to understand the differences between judicial and non-judicial states because it can affect the amount of time and money it takes to foreclose on a property. It can also impact the availability of properties that are being foreclosed on and the process of purchasing those properties.

What is the process of closing on a property in New Mexico?

Real estate closings are conducted through escrows. Conveyance is by warranty or quitclaim deed. Deeds of trust and mortgages are the security instruments. Foreclosures require judicial proceedings, and there’s a 9-month redemption period after judgment. New Mexicans use ALTA owner’s policies, lender’s policies, and construction and leasehold policies; they also use endorsements. Buyers and sellers share escrow costs equally; sellers pay the title insurance premiums. There are no documentary, mortgage, or transfer taxes. Property taxes are payable November 5th and April 5th. New Mexico is a community-property state.

Property Taxes in New Mexico?

Payable November 5th and April 5th

In New Mexico, does a property management company require a real estate broker's license?

YES. Managing property is expressly considered a real estate activity under existing New Mexico real estate licensing laws, and requires a broker's license. According to the Real Estate Brokers statute, â??Property Managementâ?? is defined as including: the showing, renting and leasing of real property, the collection and disbursement of funds on behalf of other persons, the supervision of employees as specified in the management agreement, the supervision of maintenance and repair work, handling of tenant relations, and/or preparation of financial reports.

Are there any exceptions to the requirement that a property manager have a broker's license in New Mexico?

YES. For example, employees of the property owner or of qualifying broker, acting on the owner's or broker's behalf with respect to the property, if the acts are performed in the regular course of or incident to the management of the property. For more information about these and other New Mexico property management requirements and exceptions, please contact the New Mexico Real Estate Commission. Before hiring a property manager to manage your New Mexico rental property, you should always check that he or she is licensed appropriately. You can check the license status of New Mexico property managers at the New Mexico Regulation and Licensing Department "Look Up A License" webpage.

Do you need a broker's license to manage community associations in New Mexico?

There is no requirement that a community association manager or condo association manager in New Mexico hold a real estate broker's license.

Real Estate Broker Requirements

Real Estate Salesperson Requirements

How do property ownership transfers work in ?

Warranty or quitclaim deed.

Sustainability Resources

The Real Estate industry is one of the most environmentally damaging industries in the world accounting for:
30%
of total carbon dioxide
40%
of all energy
40%
of all raw materials
Our goal is to give you the resources you need to take sustainable action in improving, building, retrofitting and revamping your home. The impacts are real, the benefits significant, and the need critical. Join us in bringing sustainability home and creating a brighter future for all, starting with you.

Save money and do the world a favor!
Here's a list of Sustainability Initiatives in the area:

37 DIY Rainwater Harvesting Systems

DYI Rainwater Harvesting System set up ideas and instructions.

Easy Composting Unit/Worm Farm

This product is a worm farm/compost bin that is easily implementable in an urban or suburban environment. The product is affordable, self-containing, improves soil health and waste management!

National Farmers Market Directory

This is a National Farmers Market Search Tool. Use this link to find farmers markets near you or find one while traveling!