New Chicago Ordinance Helps Condo Associations Enforce Short Term Rental Restrictions

On June 22, 2016, the Chicago City Council adopted an ordinance that now requires property owners wishing to rent on a short term basis to apply for and obtain certain licenses. A part of the application involves confirming that the owner’s unit is not located in a condominium property that restricts short-term rentals. The city of Chicago plans to maintain a list of buildings that do not allow short-term rentals and will refer to that list before issuing renting licenses. Associations however, will have to report their own restriction status to the city. Each association must report their rental restricted status by submitting an affidavit form which is available from the city’s Department of Business Affairs and Consumer Protection.     Read the article………….


Related Articles

A Queens Co-op Slashes Its Electric Bill by 85%. How? With Cogeneration.

Cogeneration, also known as combined heat and power (CHP), is a natural-gas-fueled method of generating electricity for your co-op or

Understanding the Differences Between CC&R’s, Bylaws, Rules & Regulations

Your homeowners association has three types of governing documents: Covenants, Conditions & Restrictions (called “CC&Rs”), Rules & Regulations, and Bylaws.

4 Tips to Improve HOA Board Harmony

A productive HOA is a harmonious HOA. If people are arguing and ignoring each other, work can’t get done. If