Chicago Owner-Occupied Rental Laws?

[Lucas Hammer]

So, we just bought our first deal, a house-hack on Chicago's Southwest side. I spend about a day or two reading the RLTO in it's entirety. Then I read the Exclusions section, and since it's owner-occupied and less than 6 units, it appears that the only thing that applies to me is the tenant lockout ordinance. For anyone who has house hacked in Chicago, can you answer if there's another ordinance I should be looking at? It kind of looks like we can do whatever we want with the lease.

We still plan on using the RLTO as a guideline for late fees, interest on deposits, etc., but I want to make sure there isn't another ordinance that applies to us instead of the RLTO. Thanks.

[Brie Schmidt]

Originally posted by @Lucas Hammer:

So, we just bought our first deal, a house-hack on Chicago's Southwest side. I spend about a day or two reading the RLTO in it's entirety. Then I read the Exclusions section, and since it's owner-occupied and less than 6 units, it appears that the only thing that applies to me is the tenant lockout ordinance. For anyone who has house hacked in Chicago, can you answer if there's another ordinance I should be looking at? It kind of looks like we can do whatever we want with the lease.

We still plan on using the RLTO as a guideline for late fees, interest on deposits, etc., but I want to make sure there isn't another ordinance that applies to us instead of the RLTO. Thanks.

 Correct, you are exempt because you are owner occupied.  I advise all of my clients to get in the habit of following it regardless.  First, there isn't anything in there too ridiculous, and second, if you move out you have to comply so why not do it right the first time instead of doing it all over again.  

The realtor association puts out a free leases every year

http://chicagorealtor.com/wp-content/uploads/2015/...