January 14, 2016
On Wednesday, Mayor Rahm Emanuel proposed new regulation for the fast-growing home-sharing industry in Chicago. Under the regulation, the city will add a new 2 percent surcharge on bookings, resulting in an estimated $1 million in additional tax revenue for Chicago. The proposal also requires hosts that rent their homes for more than 90 days a year to register with the city online. According to the Mayor, this rule is intended to make it easier for people to “periodically” rent their homes, while also allowing the city to more rigorously license hosts that use home-sharing platforms, like Airbnb, on a consistent basis….
Source: http://chicagoinno.streetwise.co/all-series/airbnb-chicago-what-you-need-to-know-about-new-regulations/