Chicago's City Council has approved rules to address complaints that short-term rental companies like Airbnb are turning residential buildings into virtual hotels and party hotspots. Council members passed the measure after weeks of debate and a compromise that failed to fully satisfy critics on either side.
Mayor Rahm Emanuel's office says the regulations are the first in the nation to require such companies to regularly share data on rental listings with the city so it can check if they comply with the law.
It also imposes new licensing fees to fund enforcement and services for the homeless, and sets up a complaint hotline. Opponents argue the new rules fall short.
Airbnb says its services boost neighborhood spending and provide homeowners with extra cash.
