Council members in Ocean City, Maryland, this month passed a new ordinance that effectively bans short-term rentals in certain neighborhoods of the popular beach town, according to local news reports.

AMERICA’S 250TH ANNIVERSARY, AND MAYBE YOU’RE PLANNING A TRIP TO OCEAN CITY, MARYLAND THIS SUMMER. HEADING TO THE BEACH? WELL, THERE ARE SOME NEW RULES SURROUNDING SHORT TERM RENTALS.

The property is located on Gibson Island, a private, gated island in Maryland. It's on the market for $13.7 million, but the couple are unlikely to make a profit. Villa dei Fiori, a mansion on ...