Tonight's Mayor Show

Tonight at Loyola. 7 PM.  This is the housing-themed one so if you are going ask them all why they love short term rentals. Ask LaToya several times.  Ask them if they think turning your home into a hotel should be a condition of your loan.

Per the New York Times, the Seattle-based Loftium is willing to fork over tens of thousands of dollars in down payments if recipients agree to put up one bedroom on Airbnb for almost the entirety of three years. Those who take Loftium up on the deal would be required to list the Airbnb for all but eight “freebie” days a year and split the profits, with the startup taking about a two-thirds cut. If the room goes unoccupied, Loftium covers the revenue shortfall.

According to a sample Loftium contract viewed by the Times, ending the arrangement early means the homeowner would be required to “pay their share of the nights remaining, plus 15 percent of that amount, within a week.” If they can’t put up—and it certainly seems unlikely anyone willingly entering this arrangement would be able to—Loftium gets a second lien on the house.

Update: Advocate has a live stream if you can't make it.