Mayor introduces short-term rental ordinance to regulate Airbnb and other shared housing platforms

Mayor Emanuel introduced an ordinance in the Chicago City Council to regulate short term rentals and intermediary platforms that market them to the public. The proposal would require hosts who rent out their homes up to 90 nights per year (shared housing unit) to register with the City. Those who rent out their homes for more than 90 nights per year are required to obtain the existing vacation rental license. Intermediary platforms are required to obtain a license, pay applicable hotel taxes and a 2 percent surcharge to be applied to affordable housing. The proposed ordinance requires renters to obtain the consent of the apartment owner in order to market their apartment as a shared housing unit. Apartment owners would be allowed participate in the shared housing market if they choose to do so. Corporate housing is exempt. Click here to review the proposed ordinance and forward any comments you have to CAA EVP Michael Mini at mike@caapts.org.