US EditionNew ordinance will provide more regulation of short-term rentals in Chicago – Loop North News
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New ordinance will provide more regulation of short-term rentals in Chicago – Loop North News
Currently, short-term rental taxes paid by Airbnb guests run approximately 23 percent, compared with 17 percent for guests in downtown Chicago hotels. The Airbnb manager typically charges a fee of 20 to 25 percent of gross rents, so nightly rental fees for these short-term residences can be hefty, depending on the season.
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