Memphis City Council Reflects On Airbnb Rental Regulations
Members of the Memphis City Council took a step on Tuesday towards collecting a 3.5% tax and a $ 2 tax on short-term rental properties commonly associated with companies like Airbnb Inc.
A council committee voted on Tuesday to add a short-term rental property ordinance to the agency’s consent agenda for the first of three readings before a final vote on Oct. 18.
Council member and ordinance sponsor Edmund Ford Jr. said he would in the meantime work with representatives from the hotel and short-term rental industry to iron out lingering disagreements.
The ordinance requires all short-term rental landlords to pay $ 75 for an annual permit, live in Memphis and rent rooms for 24 hours or more, and put in place a process for landlords to appeal permit issues. to a five-member council appointed by Mayor Jim. Strickland.
A similar order in Nashville is currently the subject of a court challenge by short-term rental owners because the order infringes on their property rights.