The City of Knoxville is looking to put into place its own regulations regarding Airbnb properties and short term rentals.

Officials with the city spoke at a community meeting Monday night to discuss their "short term rental ordinance" that they plan on submitting to council sometime in June. 

"We already have the short term rentals airbnbs operating. A few hundred of them in Knoxville. We think the responsible thing to do is recognize this is part of the sharing economy to allow them to operate in ways that we think protect the fabric of neighborhoods and the availability of affordable housing," said Bill Lyons, the Deputy to the Mayor for the city.

The ordinance, which isn't even on the table yet, requires anyone operating a short term rental to have a permit.

If you don't get a permit, or are not approved for a permit, then you can't operate an airbnb legally.

There would be two types of permits for different scenarios and whoever applies for a permit will have to prove they reside at the residence you are trying to rent in the short term.

The city would also collect a 3 percent tax, among a few other taxes, on people who acquire a short term rental permit.

Airbnb hosts like Dean Schultz, who operates several airbnb properties above market square, like Downtown 211, are not fighting the regulations. He just hopes the ordinance is fair.

"Personally, I don't mind. Everything has to be monitored nowadays," said Schultz. "I hope that they look at each house and apartment complex building case by case and determine whether it falls under their caption for permits or inspections. I really personally have no problems with it."  

The city is bringing the ordinance to the Metropolitan Planning Commission on Thursday.