No to Airbnb (12/1/16)
December 1, 2016
In recent months, the committee has dealt with several Airbnb violations.
A friendly reminder ..
Park Tower does not allow, and never has allowed, short-term rentals – and that includes Airbnb.
All new leases are for two years – not one day, one week, or any other variation. Violators may be subject to a fine of up to $1,000 (see note below).
In June, 2016, Chicago adopted an ordinance specifically authorizing condo associations to regulate or disallow Airbnb and other varieties of short-term rentals. Park Tower has now been added to Chicago’s formal listing of buildings DISALLOWING short-term, transient rental activity.
Note: An opt-out privilege allows the original two-year lease to be shortened to one year given a 60 day notice by either party.
More on this subject at https://www.ptcondo.com/airbnb-and-the-like-not-allowed/ and at http://www.chicagotribune.com/classified/realestate/ct-re-0814-condo-adviser-20160811-column.html
Chuck O’Bringer, chair
Michael Parrie, board liaisonAbout the Author: Bob Shamo
Park Tower Horizons
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