(Information in the following story is from: San Francisco Chronicle, http://www.sfgate.com)
SAN FRANCISCO (AP) – The legislation set to be unveiled by a San Francisco supervisor would make it legal for city residents to rent out their homes on sites such as Airbnb, but only if they have liability insurance and meet other requirements.
The San Francisco Chronicle reports that Supervisor David Chiu will unveil the legislation on Tuesday. Short-term rentals are currently banned in San Francisco. Chiu’s bill would lift the ban, but also impose regulations.
In multiunit buildings, for example, short-term rentals would only be allowed in apartments where someone lives 75 percent of the year. The restriction would effectively ban a unit from becoming a full-time vacation rental.
Airbnb said in a statement to the Chronicle that it was reviewing the proposal and looked forward to working with policymakers.
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