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Old 03-11-2009, 11:26 AM
 
Location: Tempe and Ruidoso
1,066 posts, read 2,245,342 times
Reputation: 538

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The following is quoted from the KWES New Radio website. I'm just trying to get some feedback on this as I am an owner of some rental property in Ruidoso and am in favor of the ordinance as it will bring some structure and larger tax base to Ruidoso. Many nightly rental units were not paying the Lodger's tax and now they will be required to list their property with the village and obtain the required pemits and fire inspections.

Quote:
WEDNESDAY, MARCH 11, 2009
AN ORDINANCE REGULATING SHORT TERM RENTAL HOMES IN RUIDOSO IS ADOPTED BY THE VILLAGE COUNCIL. THE MEASURE WOULD REQUIRE REGISTRATION OF RESIDENCES THAT ARE RENTED OUT NIGHTLY. IT REQUIRES LODGERS AND GROSS RECEIPTS TAXES BE PAID … AND HAS THE VILLAGE INSPECTING THE UNITS. LODGER TOM WOOD CALLS ON THE COUNCIL TO APPROVE THE REGULATIONS … SAYING “IT’S A GOOD STEP IN THE RIGHT DIRECTION.” LONG TIME UPPER CANYON RESIDENT ERNIE POWELL IS AT ODDS … SAYING HIS GRANDFATHER WOULD “TURN OVER IN HIS GRAVE” … KNOWING RESIDENTIAL PROPERTIES HE SOLD YEARS AGO WERE GOING FOR COMMERCIAL VENTURES. VILLAGE COUNCILOR MICHELE REBSTOCK … WHO WITH DON WILLIAMS WERE THE TWO MINORITY NO VOTES … SAYS SHE’S HAVING A “REPUBLICAN NIGHTMARE” … OVER MORE GOVERNMENT AND MORE TAXES. SOME WHO RENT THEIR PROPERTIES BY THE NIGHT TELL THE COUNCIL THEY PLAN TO SOMEDAY RETIRE IN RUIDOSO … AND THE RENTAL INCOME HELPS TO COVER SOME OF THE MORTGAGE COSTS BEFORE THEY RELOCATE.
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Old 03-11-2009, 03:58 PM
 
Location: Ruidoso, NM
5,667 posts, read 6,548,753 times
Reputation: 4817
The Republican Nightmare part was funny. As though those poor future retiries will go bankrupt if they have to pay lodging taxes on the houses they are renting out as hotels.

In a much earlier thread it was revealed how people were totally banking by buying houses in Ruidoso and renting them out on short terms. Not just defraying some of their costs, but paying the mortgage, all expenses, and making extra on top of that... on a house they just purchased.

When I moved here 2-1/2 years ago it was extremely hard to find a long term rental, because the profits are so much better renting short term. I also heard that many people in long term rentals were getting kicked out so the owner could rent short-term instead.

Though taxes generally suck, they are going to get them from somewhere, and a lodging tax on short term rentals seems as fair and reasonable as any.
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Old 03-12-2009, 11:00 AM
 
Location: Tempe and Ruidoso
1,066 posts, read 2,245,342 times
Reputation: 538
Default It could have been me

rruff

A few months ago I did make a comment about owning to rent in Ruidoso. I am pretty sure I won't go bankrupt, but then again with the economy the way it is, who knows. I did a lot of research before I bought my cabin in Ruidoso. I had some rental property in Tempe that I sold before the big real estate crash in Arizona and put down about 2/3 on the cabin in Ruidoso.

We've been paying the Lodger's tax all along as well as the gross receipts tax. So far things are doing just fine. We will see how it works out in the long run.

Thanks for your opinion on this.

Maybe some others will chime in too!

I think the new ordinance in Ruidoso will help keep all the nightly rentals on the same playing field and provide a larger tax base for the village which will hopefully provide the needed services for all.
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Old 05-12-2009, 06:33 AM
 
Location: Mexico
38 posts, read 238,600 times
Reputation: 24
We are renting for the summer in 2009, getting a really good rate from someone who normally rents by the night/week. But, my question is, How do we find a long-term rental in Ruidoso?
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Old 05-12-2009, 08:39 AM
 
Location: Tempe and Ruidoso
1,066 posts, read 2,245,342 times
Reputation: 538
My suggestion would be to contact Cindi Davis at
Telephone: 575-258-5200
Toll free: 800-545-9017
Fax: 575-258-4422


She is the property manager for Condotel in Ruidoso and she has a lot of experience with short and long term rentals. They manage over 100 properties in Ruidoso. If she can't help you she will know somebody who can.
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Old 05-12-2009, 10:53 AM
 
Location: Ruidoso, NM
5,667 posts, read 6,548,753 times
Reputation: 4817
Quote:
Originally Posted by amigadelsol View Post
How do we find a long-term rental in Ruidoso?
This is probably the best place to look:

Ziahousing.com: Search Ruidoso, New Mexico apartments, houses and condos for rent or lease.
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