Puerto Rico enforces Law 272 on short-term rental regulations and fees

Puerto Rico's short-term rental market is set to face stricter regulations following discussions in the recent government meeting. Under Law 272, any rental agreement lasting 90 days or less is classified as a short-term lease, which mandates the payment of a rental fee. This law requires landlords to register with the tourism company, submit monthly reports, and pay the associated fees.

Failure to comply with these regulations can result in significant penalties, including fines and interest charges. The meeting highlighted the importance of these regulations in maintaining order within the rental market and ensuring that all operators contribute fairly to the local economy.

Additionally, the discussions touched on the potential impact of short-term rentals on tourism in Puerto Rico, particularly in areas like La Parguera. The government is keen to understand how these regulations will affect both the rental market and the broader tourism sector, emphasizing the need for compliance to foster a sustainable tourism environment.

As these regulations take effect, stakeholders in the rental market will need to adapt to the new requirements, ensuring they are in line with the law to avoid penalties and support the growth of tourism in Puerto Rico.