Vacation rentals, like the website/service AirBNB, have landlords, condo owners and tenants seeing green in their extra bedroom or sofa - but a recent article from the Chicago Tribune cautions that the practice may be illegal or a violation of association bylaws or leases.
With a Grateful Dead reunion concert set for this summer and hotels across the city booked, all sorts of local residents are probably taking a hard look to see if they can bring in a little extra cash.
But the Tribune reports that even if the city didn't have regulations, which it does, renting a part of your apartment or condo or even the whole thing likely violates the building's rules or the lease. Most buildings require occupants to go through a background and credit check before they can move in and the vacation rentals short circuit that process, creating a hazard as well as a rules violation.
And building owners and operators are becoming more savvy as well - watching the popular sites for addresses or amenities that they maintain to identify potential scofflaws.
For individual building owners there are ways to create legal vacation rentals, of course.
For more, head over to the Tribune here.
