Chicago Home-Sharing Rules Passed

Chicago home-sharing rules

Chicago home-sharing rules passed by Chicago City Council in a 43-7 vote.  The rules allow condominium and homeowner associations to ban short-term rentals.  In addition, the rules permit residents of single-family home areas to ban short-term rentals via petition.  The ordinance also limits the number of units leased to short-term guests to the lesser of six per building or a quarter of the units in the building.

Airbnb is the primary target of the new rules.  However, Airbnb supported the rules, in part, because the rules do not limit how many times a year short-term tenants can rent a unit.

More details at Crain’s Chicago Business: http://www.chicagobusiness.com/article/20160622/BLOGS02/160629932/tapping-his-inner-boss-emanuel-pushes-airbnb-uber-rules-through-city-council

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