Chicago Suburb not allowing rentals

[Jay Thomas]

I just ran across a Chicago South Suburb (Country Clubs Hills) that still has a Rental License Moratorium in place. This means any investor that buys in the city will not be granted a Rental License, making it illegal to rent out your property. This process of getting a Rental License is already excruciating; you have to attend a 4hr class and are forced to hire a property manager if you live more than 30 miles away... In my opinion, I think this city is trying to flush out rental properties. I wonder what they are doing to fix and flip investors.  @Crystal Smith Do you know other other Chicagoland cities with the strange laws targeting investors.

 

[Jay Thomas]

@Crystal Smith @Mark Ainley @Jonathan Klemm Thanks for your additional insights. Now I get why some investors prefer to stay within the City of Chicago.