Chicago Associations blocking short-term rentals should report rental restrictions to limit short-term rental licenses
As of June 22, 2016, the Chicago City Council has adopted an ordinance that it applies to short-term and shared housing rentals. Among others, this ordinance applies to Chicago residents who may wish to rent their condominium units on a short-term basis using online home sharing, short-term-rental websites and other platforms that have become popular in recent years. The city ordinance requires owners wishing to rent to apply for and obtain certain licenses. Part of this application process involves confirmation that the owner’s unit is not located in a condominium property that restricts short-term rentals. The city plans to maintain a list of buildings that do not allow short-term rentals and will check that list before issuing licenses to rent. However, an Association must report its restriction status—the city will not investigate for you. This list requires Associations to report their status as rental restricted by submitting an affidavit form available from the city’s Department of Business Affairs and Consumer Protection.
Click here to read more about this ordinance.