November 01, 2017 12:46 PM
A Minneapolis City Council committee Tuesday moved the city a step closer to solidifying a plan for short-term rental regulations in the leadup to Super Bowl LII.
The Community Development and Regulatory Services Committee passed ordinances amending the city's code to create three tiers that would determine licensing and registration of rental units.
According to the proposed ordinances:
One of two short-term rental licenses would be required for owners who don't live in the dwelling but use it solely for rental purposes. The city's website says those proposed license fees would range from $70 to $175, plus $5 for each additional unit, though details were still being worked out.
Short-term rental registration would be required for owners who live at a property but opt to leave during a rental period while renting the entire space.
The proposed registration fee is $46.
No licensing or registration would be required under the ordinance for property owners who remain in the unit during a rental period.
The committee also passed proposed regulations that would require short-term rental platforms such as Airbnb and VRBO to ensure that only licensed or registered dwelling units are advertised on their sites. Those platforms would also be required to submit an annual application and pay the city a $5,000 fee.
The city expects it would gain about $730,000 in annual revenue by the third year of the program.
The full council will vote on the proposals at its Oct. 20 meeting.
Updated: November 01, 2017 12:46 PM
Created: October 11, 2017 01:34 PM
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