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Short-term rentals (STRs) in Toledo, Illinois, generally referred to as vacation rentals, are legal but face specific regulations. Hosts must obtain a short-term rental permit at a cost of $50, which is valid for one year, and they must provide proof of general liability insurance with a minimum coverage of $1,000,000. The types of properties that thrive include cabins and single-family homes, particularly those in rural settings or near water bodies, which are popular among both tourists and families seeking weekend getaways. The STR market caters primarily to tourists during peak seasons, although some properties also attract business travelers visiting for events or local meetings. The Toledo City Council oversees these regulations, ensuring compliance with occupancy limits and local safety standards. For more detailed information on licensing and regulations, please visit the official City of Toledo website at.
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