- Associated Press - Sunday, June 19, 2016

CHICAGO (AP) - Chicago aldermen are expected to discuss a reconfigured plan to regulate short-term rentals through companies like Airbnb, as several other big cities have done. The City Council could vote on the proposal Wednesday.

Here are the highlights:

-Companies would have to pay a $60 per unit listing fee, which is on top of the $10,000 annual license fee. The new listing fee is expected to generate over $200,000 annually to help pay for enforcing the ordinance.

-A 24-hour complaints hotline would be created.

-Companies would have to share data on renters twice a month. A previous version would have required monthly sharing with the city.

-A “prohibited buildings list” would list buildings of five or more units where the homeowner association has banned short-term rentals. The city would use the list to screen units and take action against rule breakers.

-A 4 percent surcharge would be applied to rentals for homeless services. It is expected to raise roughly $2 million.

-Short-term rentals in a building would be limited to either six units or 25 percent of the total number of units, whichever is less.

-A previous sticking point has been removed that would have required the owners of single-family homes to be present during a rental.


Source: The City of Chicago.

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