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Chicago Vacation Rentals Attorney
Top-Notch Legal Counsel for Property Owners
A vacation rental is a residential property that is listed for rent on a short-term basis. The term of the rental could be for one day, several days, or even weeks. Notably, the rental space could be anything from a tent, an RV, a room, a complete unit, or a house. Some rentals are shared whereas others are private.
There are two types of people involved with vacation rentals: hosts and renters. Hosts have residential rental properties that are available for rent. To list their property, they use a third-party company such as AirBNB, VRBO, TripAdvisor, or Expedia. On the other hand, renters need to rent a property on a limited basis. This is usually because they are on vacation, but other circumstances may exist.
Benefits of Vacation Rentals
So why should you become a vacation rental host? Hosting vacation rentals can be a good way to supplement your income, especially if you are an entrepreneur. It may also be for you if you do not wish to create a full-on landlord-tenant relationship.
Are There Requirements to Become a Vacation Rental Host?
In some cities, there are not many requirements. In Chicago, however, you must receive a license to operate a vacation rental. This involves an application process, zoning, fees, insurance, an inspection, and so on.
Consult with Our Real Estate Lawyers Today
At Wolff Legal, we are committed to providing our clients with the comprehensive legal services they need for their business operations. If you are interested in becoming a vacation rental host, you should schedule a consultation with our legal team so we can discuss your situation and answer all of your