Raising Rent under New Lease - Notification Time Frame and M-T-M

[Tracey Steele]

I'm preparing new leases for my tenants in the City of Chicago. The current leases expires April 30. Is there any risk posed by starting the new leases June 1 vs. May 1? I have two units, and I'm raising the rent on both. The tenants know to expect an increase, but not the specific dollar amount. I know I have to give them 30-60 day notice before the new amount can take effect. 

[Tom Shallcross]

@Tracey Steele - Under Chicago's Fair Notice Ordinance passed in 2020, below are your responsibilities as a housing provider:

If the tenant has been there for more than three years than you need to give at least 120 days notice. If the tenant has been there between 6 months - 3 years, you need to give 60 days notice. If they've been there less than 6 months, you need to give 30 day notice. 

Below is a link but if you just Google Chicago Fair Notice you'll find multiple similar articles:

https://www.gcrealtyinc.com/blog/new-chicago-landlord-laws-fair-notice-ordinance