77 Most Popular Chicago Vacation Rental Ordinance
The city council enacted the shared housing ordinance on june 22 2016 which changed the regulation of short term residential rental activity in the city of chicago. Here are specific changes that impact and or protect condominiums housing cooperatives and townhomes community associations in the city.
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Rental or leasing of any hotel accommodations at any vacation rental or shared housing unit in the city of chicago at the rate of four percent of the gross rental or leasing charge.
Chicago vacation rental ordinance. Shared housing and accommodations licensing. The ordinance defines a vacation rental as a dwelling unit with up to six sleeping rooms that are available for rent or for hire for transient occupancy by guests which are not owner occupied. A short term residential rental is part or all of a dwelling unit that is rented for transient occupancy by guests but is not a hotel.
Base rate of 4 5 of the gross rental or leasing charge. The chicago city council passed a vacation rental ordinance on june 22 that will further regulate the house sharing industry and provide protections to consumers like those living in the city s community associations. Base rate of 4 5 of the gross rental or leasing charge.
There are various license or registration requirements for short term residential rentals and for internet platforms that connect guests with. Mayor emanuel s ordinance amends chapter 3 24 of the municipal code of chicago. To be eligible the following requirements must be met.
The ordinance is located at chapter 4 207 of the municipal code of chicago and applies to vacation rentals. A short term residential rental is part or all of a dwelling unit that is rented for transient occupancy by guests but is not a hotel. The purpose of this surcharge is to fund supportive services attached to permanent housing for homeless families.
The municipal code of chicago has been amended to allow a legal voter in a precinct containing residentially zoned property to propose to restrict new or additional shared housing units and or vacation rentals from operating in that precinct. Chicago a new ordinance approved by the chicago city council on wednesday places tougher regulations on vacation rentals and aims to put a stop to rented party houses shutterstock. The city council enacted the shared housing ordinance on june 22 2016 which changed the regulation of short term residential rental activity in the city of chicago.
For vacation rentals and shared housing units a 6 surcharge in addition to the 4 5 base rate for a total city tax rate of 10 5 of the gross rental or leasing charge.
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