Chicago officials recently announced new rules aimed at regulating the short-term rental market, and they include some tough punishments for those that don’t follow the new rules to the letter. “The fines are $1,500 to $3,000 per offense and/or subject to up to six months of incarceration, with each day that a violation exists treated as a separate and distinct offense,” city MooreAlderman Joe Moore said in a statement. Airbnb hosts in Chicago have understandably voiced concerns regarding the new regulations, however Alderman Joe Moore insists they have been put in place to help: “The proposed ordinance will make it easier for hosts who periodically rent out their living space either on their own or through services, such as Airbnb…The new proposal will support the growing industry while ensuring the city is able to track units made available for lodging and respond to complaints.”
Chicago officials recently announced new rules aimed at regulating the short-term rental market, and they include some tough punishments for those that don’t follow the new rules to the letter. “The fines are $1,500 to $3,000 per offense and/or subject to up to six months of incarceration, with each day that a violation exists treated as a separate and distinct offense,” city Alderman Joe Moore said in a statement. Airbnb hosts in Chicago have understandably voiced concerns regarding the new regulations, however Moore insists they have been put in place to help: “The proposed ordinance will make it easier for hosts who periodically rent out their living space either on their own or through services, such as Airbnb…The new proposal will support the growing industry while ensuring the city is able to track units made available for lodging and respond to complaints.”