Vote No Chicago Substitute Vacation Rental Ordinance

Chicago is a diverse city with international charm and visitors. Helping welcome thousands of tourists each year from across the globe is the citys equally diverse stock of hotels, motels, guest houses and other accommodations for visitors.
High-quality, vacation rental-style homes are a respected and often sought after component of Chicagos tourism business and lodging portfolio that draws a unique visitor to our City. Many Chicago vacation rental owners have been paying lodging taxes for over 20 years and they are a key element of the tourism industry in the City and respected constituents of your wards. They are dedicated to providing quality, safe and legal establishments. Property owners operating these unique rental units to tourists and families in their neighborhoods are both an asset to, and a marketing tool of Chicagos vibrant neighborhoods that are often lacking in adequate hotel rooms. The city of Chicago is in the process of regulating the vacation rental industry and in doing so may indirectly cause many owners to cease operation of renting their properties on a short term basis.

In the most current ordinance........

All approved vacation rental owners will be required to obtain a license for each unit at a proposed cost of $500

Condominium owners will be required to present condo bylaws showing this activity is approved. (Condo associations are self governing bodies)
No more than six condo approved condo owners will be allowed to do short term rental activity in any one building. ( a Constitutional property rights issue)

Each of the approved six will be asked to file for a special use permit as a cost of approximately $2500-$5000. This special use process includes obtaining approval from your Alderman and sending certified letters to your neighbors within 250ft of your property announcing what the usage will be and giving them an opportunity to dispute the activity.

Owners of Buildings / private homes / townhouses will be required to go through the same process, but currently will be unable to obtain a license or special use permit in any zone other than RT4 & RT5all R3, RS3 & RS5 will potentially be forced to cease operation.

All approved properties will be required to be inspected by the city for code violations.

Clearly this is a major concern for all of us, whether this is the way you are making your living or this is your avenue for staying afloat in a down housing market.
Either way, we all need to take a moment of time in the next week to contact each and every alderman in Chicago to let them know how passing this ordinance in July will have a negative impact on you personally, your neighbors, members of your community and the citys tourism.

At such a difficult economic time, Chicago cannot afford to limit such an important segment of the real estate and travel economy. If passed, this ordinance would result in a devastating domino impact;
less income for local business, loss of taxes paid by vacation rental owners, small business failures, more

unemployment, and continued devaluation of an already weak real estate market. Furthermore it will exacerbate the foreclosure situation in Chicago.

Property owners please continue to fight for your property rights an impact the decision makers of the city. Please do your part by signing petition and writing or calling your Alderman. Both committee's meet for a vote on this ordinance on the 23rd of June.