This bill mandates that the owner of a transient accommodation, or their agent, must be present at the property during the duration of any short-term rental agreement, unless the rental period exceeds 30 days or there is a written agreement stating otherwise. A civil penalty of $1,000 is imposed for each violation of this requirement. Furthermore, the bill stipulates that only one short-term rental agreement can be active at a time for any transient accommodation, with the same civil penalty of $1,000 applicable for violations of this provision.

The bill defines key terms such as "transient accommodation," "transient space marketplace," and "professionally managed unit," while explicitly excluding certain types of properties from the transient accommodation definition. The legislation aims to regulate short-term rentals more strictly, ensuring that property owners maintain oversight during rentals and limiting the number of concurrent agreements. The bill is set to take effect on the first day of the month following its enactment.