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Short-Term (Vacation) Rentals and Community Associations · © Community Associations Institute...

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Short-Term (Vacation) Rentals and Community Associations
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Page 1: Short-Term (Vacation) Rentals and Community Associations · © Community Associations Institute (CAI). All Rights Reserved |  | Page 1 o

Short-Term (Vacation) Rentals and Community

Associations

Page 2: Short-Term (Vacation) Rentals and Community Associations · © Community Associations Institute (CAI). All Rights Reserved |  | Page 1 o

© Community Associations Institute (CAI). All Rights Reserved | www.caionline.org

Page 3: Short-Term (Vacation) Rentals and Community Associations · © Community Associations Institute (CAI). All Rights Reserved |  | Page 1 o

© Community Associations Institute (CAI). All Rights Reserved | www.caionline.org

Major Issues .............................................................................................................................................................

Community Association Housing Model ................................................................................................................... 1

Short-Term (Vacation) Rental Platforms & Community Associations ......................................................... 1

Common Ground ................................................................................................................................................................. 1

Controversy of Short-term Rentals: Protecting Neighbors and the Integrity of the Community

Association Housing Model ............................................................................................................................................ 2

Short-Term Rentals in Community Associations and Its Impact on Mortgage Finance ........................ 3

Property Rights .................................................................................................................................................................... 4

Constitutionally Protected Property Rights ............................................................................................................ 4

Other Limits on Property Rights .................................................................................................................................. 5

Partnership Programs for Associations and Vacation Rental Companies ........................................ 6

Legislative Trends ................................................................................................................................................. 6

Court Cases ............................................................................................................................................................... 7

Model Language: Excerpts from Municipal Code of Chicago .................................................................. 8

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Short-Term Rentals in Community Associations and Its Impact on Mortgage

Finance

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